I recently came a cross a Chicago-based real estate broker Mark Nash, author of "1,001 Tips for Buying and Selling a Home," and he recently conducted a survey of 5,000 real estate agents (receiving 923 responses). The survey focused on what buyers want and don't want when buying a home.
The overall results of the study indicate that buyers are looking for features that will still be desirable in 10 years. Trendy features like bamboo floors and bowl-shaped, above-counter sinks are "cool," but sometimes turn out not to be practical for everyday use. Knowing what is hot now and what used to be hot is the key to understanding the real estate market and successfully selling a home. With more choices on the marketplace than ever, buyers are becoming choosier and want homes that are move-in ready with no renovations needed.
Here are some of the interesting results of the study:
HOT:
-Old fashioned plank floors, weathered or recycled woods and wood paneling over kitchen appliances
-Storage space: Linen closets, dressing areas, luggage rooms, etc. Storage space seems to attract the attention of buyers right away
-Glass tiles in kitchen and bathrooms: This feature can be found in homes constructed in many different time periods and seems to have staying power
-Two home offices: Many recent homebuyers are professionals with a dual-income household. Having two, adequate sized home offices better facilitates working from home which is a real plus
NOT HOT:
-Spiral staircases: These once-popular features have lost favor with the aging population and families. For older residents, they are hard to maneuver and for families they provide an unwanted hazard for young children. Spiral staircases also make it extremely difficult to move furniture from room to room
-Stainless-steel appliances: Once (and still is in some areas) a must-have for new homes, many owners have complained about the hassles of keeping appliance surfaces clean. This is especially a detriment for families with small children and/or pets
-Glass front cabinets: Not good for owners who cannot keep the dishes in their shelves lined up neatly
-Vessel-style sinks (bowl-shaped, above-counter sinks): Still considered a very popular and hip item in some areas, many owners have found that vessel-style sinks allow water to be inadvertently splashed on the floor and clean up is more of a chore. This is especially the case during parties or other gatherings when the sink gets more use
Bamboo floors: Very attractive and hip feature but not durable enough for families with small children. Bamboo is softer than most woods and doesn't stand up well to heavy everyday use. Bamboo wood finishes also fade in direct sunlight causing uneven floor markings.
I would love to hear your opinions and what you are seeing in other parts of the country. Being a Realtor specializing in the Atlanta market, I am still seeing a lot of the trendy décor and styling and it doesn't seem to be cooling off as much as in other parts of the country. I have a very diverse client base in that they like styles ranging from contemporary to traditional, however there seems to be this eclectic theme that is pouring over into the more traditional homes now (i.e. incorporating the vessel sinks and class door cabinetry.)
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