Today's consumers need some extra WOW to get off the fence and buy. Although 80-85% of people surveyed answered that NOW is a good to buy, only 70% of those said they would move if they found something compelling. In order to attract buyers, both the house and the neighborhood need to be just right.
The four most important factors when choosing a home are:
- Location
- Home style and design
- Safety
- Price
While price will get potential buyers to the home, design will close the deal more often than not. Customers also like to customize, in fact the number one reason people prefer to buy rather than rent is so that they can make the space their own.
One very popular design feature is a indoor-outdoor feeling, blurring the distinction between indoor and outdoor space. Buyers want indoor spaces to feel open and airy, and they want outdoor spaces to feel cozy and protected. Not surprisingly, one of the most popular outdoor features is a fireplace that looks as if it had been tranplanted from the living room or family room.
Today's home buyers think that "green" is important, but only if it is affordable. 70% are willing to "go green" to save money on their utility bills, but only 30% are interested in doing so to save the environment. Adequate insulation, dual paned windows, energy efficient appliances and modern technology need to be included in the base price rather than as an "add on" that increases the price to buyers.
Size does matter-the bigger the better, most people say they want between 2500 to 3000 square feet in a new home. The average re-sale house today measures just 1700 square feet.
Many would be buyers stated a preference to be able to walk to a Starbucks, but only 7% opted for "urban" location. 70% want a detached home, and 26% still want a traditional neighborhood. No surprise that buyers want a safe and pleasant street scene and are willing to pay extra for the architectural elements to achieve that goal.
Interestingly, most buyers prefer a casual style, with a multi-purpose great room replacing separate spaces for family room, living room and kitchen. Buyers are attracted to homes that resemble the one which most impressed them as children, although not necessarily the one they grew up in. Emotional triggers that blend modern convenience with old fashioned nostalgia are the key to attracting most buyers.
Susan Gregory is a Realtor, Trainer and Author of two publications for homeowners and agents, including the best selling The Complete Loan Modification Guide kit and Loan Mod Calculator. She specializes in helping clients buy and sell in the South Orange County, CA area. (Information taken from OCAR.org-Sherri Butterfield)
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