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What are buyer's favorite features?

QUIZ: Buyers' Favorite Features

What do buyers want most in a new home? Find out how well you know your customers' house-hunting priorities. This quiz covers some of the top findings from the NATIONAL ASSOCIATION OF REALTORS®' 2007 Profile of Buyers' Home Feature Preferences,
which collected responses from more than 2,500 buyers who recently purchased a home. The information can give you an edge in working with buyers and marketing your listings.

1.	What single home feature do buyers say they want most in a new home?
	Walk-in closet in master bedroom Central air conditioning Backyard Fully finished basement

2.	What's the median size of homes purchased between late 2005 and early 2007?
	2,230 square feet 1,840 square feet 1,450 square feet 1,000 square feet


3.	Repeat buyers tend to be choosier than first-time buyers. In particular, repeat buyers place much more emphasis on these home features:
	Fireplaces and air filtration systems Bay windows and finished basements Oversized garages and master bedroom walk-in closets Backyards and proximity to entertainment


4.	Within three months after buying their new home, nearly half of all buyers remodeled or made improvements to which part of the house?
	Master Bathroom Backyard Kitchen Home office


5.	Which home feature saw the biggest jump in buyer popularity since 2004, when NAR conducted its previous buyer preference survey?
	High-speed Internet access Media room Eat-in kitchen Oversized garage


6.	What three features did buyers say they'd be most willing to pay extra for in a home?
	Proximity to work, a wooded lot, and a backyard or play area Whirlpool baths, proximity to schools, and a deck A corner lot, a lawn sprinkler system, and high-end kitchen appliances Central air conditioning, walk-in closets, and hardwood floors


7.	A home's energy efficiency is most important to which segment of buyers?
	Repeat buyers Second-home buyers New-home buyers First-time buyers


8.	Where do first-time home buyers tend to purchase a home?
	Rural area City or urban area Suburb or subdivision Small town


9.	What's the most common type of home purchased?
	Single level Split level Two levels Three levels


10.	What did new-home buyers most wish their home had more of?
	Storage Bedrooms Kitchen space Bathrooms

Quizzes

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Posted by Bruce Mullen on 09/27/2007 02:27 PM

Comments (5)

buyers, real estate, homes, nar

5 Comments on What are buyer's favorite features?

SEP

2007

I just received this from my Realtor's Association and hadn't had time to read it. Great thing to share and finding the answers will be interesting!!

Kim Dillon, Creative Eye Home Staging

For question number 1, I believe the Walkin Closet will win. That seems to be what everyone wants more than anything.

Not a realtor here, but, does this honestly help anyone? As a three time home-buyer..reading through these, all I can think of, is, "who cares?" I wouldn't say any of the answers to most of these. Seems to me, the most important things are the things that matter to the individual buyer.
I would be un-impressed if my agent started telling me that 'yada yada percent of all buyers thing such and such is important', therefore that's what I should be looking for in a house.

On the other hand, I suppose it helps the seller decide what to upgrade, etc..

Sorry, don't mean to be rude or anything, I just don't like this survey. For some reason, it just doesn't seem to mean anything. And I am certainly not trying to be rude to you, Bruce. It is kind of interesting, I would actually be interested in seeing the answers.

Said too much,

Susie

SEP

2007

Susie, here are the answers, and you are certainly allowed to express your opinions. I didn't get all of these right and the answers won't necessarily mean anything to a buyer. I just put it out there because 2500+ people took this survey and this is how they responded. There is a lot of boring stuff out there...I'll have to see if I can come up with something more exciting next time:-)

ANSWERS:

1.b 2.b 3.c 4.c 5.d 6.d 7.c 8.c 9.a 10.a

Oh, Bruce, it isn't that it was boring. I just wondered how helpful a survey like this really is.

Thanks for sharing the answers,

Susie

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