Every few years the National Association of REALTORS conducts a study on the features of homes that are most desired by buyers. Sellers should keep these things in mind when putting their homes up for sale as lack of these features could negatively impact the final price they receive for their home. Here is what NAR found:
Features ranked very important by buyers were:
Central air conditioning. The more energy efficient, the better.
Oversized garage. The better to store all of the expensive toys they have accumulated.
Walk-in closet in master bedroom. One very large one will do, but many prefer separate walk-in closets.
Back yard or play area. Even if people are older and don't have kids in the home anymore, they still want a safe place for their grandkids to play.
Cable or satellite TV ready. People don't want to miss their favorite shows or sporting events.
Separate showers in master bath. People like having dedicated spaces for different functions.
Patio or deck. Increases the livable area of a home and puts you in touch with the great outdoors.
Fencing. Adds security and also keeps the critters and kids in.
Features that buyers are willing to pay more for are:
Walk-in closets in master bedroom.
Hardwood floors.
Granite countertops.
Separate shower in master bath.
Whirlpool bath tub.
Cable or satellite ready.
Sitting area in master bedroom.
Oversized garage.
Patio or deck.
Fencing.
Front porch.
Features buyers like in a neighborhood are:
Sidewalks.
Near shopping.
Near schools.
Near park.
Near public transit.
What's in store for the future?
I expect that in the coming years we will see a greater emphasis on building or remodeling "green." People will be looking for more energy efficient housing and housing that makes use of recycled or renewable resources. Although homes have been trending larger, I suspect we may see a trend toward smaller homes with more luxury features.
