Some Home Features More Important Than Others, NAR Survey Finds
Sure, you’d like double-pane windows in your new home, and a koi pond in the yard would be nice, too, but some features are absolutely essential to a home-buying decision and it’s no use looking at a prospective home without them.
Central air conditioning is at the top of the list, hands down. And a walk-in closet might also seal the deal.
The National Association of Realtors recently released its 2013 Profile of Buyers’ Home Feature Preferences, and central air was the most important feature to the most homebuyers, with 65 percent considering this feature very important.
The next most important feature was a walk-in closet in the master bedroom — very important to 39 percent of buyers. Closely behind was having a home that was cable-, satellite TV-, and/or Internet-ready. So was an en-suite master bathroom.
Among buyers who considered central air and cable, satellite TV, and Internet connections very or somewhat important, 94 percent ended up buying a home with these features.
The next most common feature was an eat-in kitchen; 89 percent of buyers who thought this was important purchased a home with an eat-in kitchen.
Buyers value some features so much that they are willing to spend more money to have them. Sixty-nine percent of buyers who did not purchase a home with central air conditioning would be willing to pay $2,520 more for a home with this feature, and another 69 percent who did not purchase a home with new kitchen appliances would be willing to pay $1,840 more for a home with them.
A walk-in closet in the master bedroom was the third most common feature on which buyers would spend more. Sixty percent of buyers who did not purchase a home with a walk-in closet would be willing to pay $1,350 more for a home with this feature.
“Deciding where to live comes with a lot of options, but buyers quickly realize that some features are more important than others when it comes to choosing the right house for them,” said NAR President Gary Thomas.
“Buyers need to have a clear idea of what features are important to them and know where they are willing to compromise.”
(Photo courtesy of Linsuehoo, via Flickr.)