Last month I blogged about the top three things young Boston home buyers want in a potential property. In the course of my research I noticed there were stark differences between what young home buyers look for and home buyers their parents’ age (35-54).
Not surprisingly, people in the 35-54 age range have different needs and wants in a home than their younger counterparts. They are more concerned with interior finishes and functionality, as well as the comfort level of the home.
Earlier this year the National Association of Home Builders released a study titled “What Home Buyers Really Want,” looking at what home buyers nationwide prefer in a potential home’s design, functionality, kitchen, bedrooms, outdoor features and technology.
“[It] provides an inside look at the things home buyers really want or don’t want in their homes,” said Rose Quint, NAHB’s Assistant Vice President for Survey Research, and one of the study’s authors.
The National Association of Realtors (NAR) also conducted a nationwide survey on what home buyers are looking for in potential homes.
Aside from location and budget constraints (both personal issues) here’s a look at the top five things Boston area home buyers want in a home based on data from nationwide surveys conducted by both the NAHB and NAR.
Central air conditioning
According to data from the NAR, 60 percent of homeowners, regardless of age, considered air conditioning “very important,” and would prefer a home with it. In fact, nearly seven out of 10 homeowners surveyed said they would be willing to pay more for a home with central air conditioning.
With Boston temps soaring about 90 degrees for five straight days last month, I think this is one feature we can all agree that we want!
New kitchen appliances
Who doesn’t love shiny new things, especially when they come in the form of a double-door refrigerator or a dynamic dishwasher? Home buyers prefer new kitchen appliances because it means less money spent on repairs or replacement. Not surprisingly, 69 percent of those polled in the NAR study said they were willing to spend more money for a home with new kitchen appliances.
The desire for new kitchen appliances is not really an extravagant indulgence; it also has a practical side. Regardless of age, everyone wants to save money on their utility bills. According to the NAHB study, some of the most wanted features in a home involve saving energy, i.e. energy-star rated appliances and windows, and an energy-star rating for the whole home.
Walk-in closet in master bedroom
According to the NAR data, a whopping 60 percent of homeowners are willing to pay extra for a walk-in closet in the master bedroom, with 44 percent of people between the ages of 35 and 54 viewing this feature as “very important.” Many view walk in closets are status symbols while others value them for their space.
The need for space to organize and store items also ranked high in the NAHB survey. As people age, they tend to accumulate more belongings and therefore require space to put all that “stuff.”
Shag carpeting may have been the rage in the ‘70s, but today’s buyers prefer hardwood floors. In the NAR survey, 28 percent of those surveyed between the ages of 35 and 54, considered hardwood floors “very important” when looking for a home. Hardwood floors are also considered easier to clean.
If you’re looking for a home with any of these features, contact an agent at BostonPads.co today. We have the largest property databases available to help Bay State home buyers find their perfect Boston home or condo. Call or email us today to get your home search underway!