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Tracy Miller-Levitt's Blog

By Tracy Miller-Levitt | Managing Broker in Raleigh, NC

New Home Buyer Study: What Do Buyers Really Want?

The National Association of Homebuilders recently conducted a new home buyer study to determine what today's new home buyers are seeking in their new home. The study was conducted by NAHB’s Economics and Housing Policy Group in 2012, based on a survey of home buyers nationwide (http://tinyurl.com/BuyerStudy).

The results of the study provide an interesting insight into the minds of the new home buyer within the current economic climate and is a useful tool in understanding the needs and wants of your client. Some of the finds are as follows:

  1. Energy Efficiency. Home buyers today are very interested in saving money on their energy bills. The study found that 90% of all new home buyers would rather spend more on a home that included energy-star rated appliances and windows, and an energy-star rating for the whole home, than save 2%-3% on a home that was not energy efficient.

  2. Organization and Storage. As home buyers continue to downsize from the mini-mansions of the boom years before the recession, the ability to keep belongings organized becomes ever more important. Built-in closets are increasingly popular, and not just in the master bedroom but in all of the bedrooms and some flex spaces. New home buyers like the convenience of a linen closet within each bathroom, rather than a central hall closet. Storage space in the garage and attic that can actually be utilized is highly coveted.

  3. Bathrooms. Powder rooms are still a must-have, even in very small condos and townhomes. Surprisingly, buyers are still insisting on separate tubs in the master bath, even though most people admit they never use them. Double-sinks in the master bath are much preferred as well.

This information is definitely useful in assisting homebuyers and I would recommend that anyone interested in buying or selling a home take a look at this study to glean some insight!

Comments

By Betty Schram,  Wed Mar 6 2013, 09:58
I must be in a part of the country that our first time buyers have simple needs. It is all about price and qualifing for a home. They would love energy efficiency and extra closets etc. but that costs. They are scrapping to get a down in most cases.

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