What features buyers are looking for in a home changes over time which is why the National Association of REALTORS (NAR) conducts an annual survey of home buyers to find out what led them to buy the home they bought. In the newly released 2013 Profile of Buyers’, what features buyers are looking for in a home is revealed. According to the profile, the typical home buyer bought an 1,860 square foot home with 3 bedrooms and two baths.
Other highlights from the profile include:
- Slightly over half of the homes purchased were single level homes
- Southerners tend to want a home that is less than 5 years old on a wooded lot.
- Seventy-eight percent of all buyers purchased a home with a garage.
- Forty one percent of the homes had basements (most popular in the Midwest and Northeast regions)
- Buyers over 55, and single women consider a single-level home important
- Central air conditioning ranked as the most important feature to home buyers with 65 percent of them saying this was “very important”. The next most important feature was a walk in close in the master bedroom (39 percent).
- Buyers are willing to spend the most additional money to get a waterfront home or a home less than 5 years old.
- Fifty-five percent said it was important to have a living room.
- 97 Percent of recent home buyers said they were satisfied with the home they purchased.