What the 21st Century Home Buyer Wants

Whether you’re in the market for a new home, or wondering how appealing your existing home is by today’s standards, an up-to-date assessment of current home buyer preferences can prove handy in evaluating the many options that are out there. Home builders rely on such information to determine the best floor plans, locations and amenities to offer their clients, and a prime source of this data is the National Association of Home Builders’ (NAHB’s) Home Buyer Preferences Survey. This study focuses on 2,000 households who have either purchased a new home in the last two years or who plan on doing so within the next two years.

The latest survey results provide some surprising -- and some not-so-surprising -- insights into the psyche of today’s American home buyer. 

Square footage:   The more, the better.

This one may seem like a no-brainer. But, considering the way family sizes have trended downward in the last 30 years, the fact that home sizes are on the rise is far from intuitive.  The percentage of households with children is far smaller today than it was in the early 1970s, and nontraditional households – including single-parent and single-person households – are much more of a market force. Irrespective of this trend, however, the average size of new single-family homes continues to hit new records. It hit a new peak of 2,330 square feet – up 55 percent from three decades ago.

Of course, the amount of finished square footage buyers expect is somewhat in keeping with the amount they intend to pay for a home. People who expect to pay more than $250,000 actually prefer upwards of 2,700 square feet, while those in the lower ranges are willing to accept less than 2,000 square feet. Most buyers, however, are adamant about having three or more bedrooms. An interesting footnote here is that 54 percent of buyers in the latest survey said they’d be willing to accept a home with unfinished space in order to keep that home more affordable. In fact, buyers are far more willing to give up “finished” space than they are to forego overall space, certain amenities or the benefits of a location close to shopping.

Kitchens and bathrooms: don’t skimp on the details

Not surprisingly, new home buyers pay particular attention to kitchens and bathrooms – more attention, in fact, than they pay any other rooms of the house. Home builders and their consultants will tell you flat out that the kitchen can make or break a home sale, and that homes with fewer than two bathrooms can draw a significantly limited audience. Over 80 percent of those surveyed indicated a preference for two or more bathrooms. Interestingly, however, buyers aren’t looking to go overboard – an equal percentage (17 percent) said they preferred 1 ½ bathrooms as said they wanted three or more bathrooms.

Nearly 80 percent of survey respondents consider a walk-in pantry a “must-have,” while more than 70 percent feel that way about an island work area in the kitchen. Other highly favored kitchen features include a built-in microwave oven, extra-long counters and newly popular “warming drawers” that keep meals palatable for on-the-go family members who are perpetually late for dinner. Preferred kitchen cabinetry is made of light-colored wood, while the favorite kitchen floor layout is completely or at least visually open to the family room/great room area.

The most popular bathroom features include a linen closet as well as an exhaust fan, separate shower enclosure, dressing/make-up area and private toilet compartment. Ceramic tile walls are also high on the preference list. In high-end homes, add a whirlpool tub and multiple showerheads to the mandatory file.

Studies have also shown that it’s a good idea to plan ahead for accessibility issues in the kitchen and bathroom. With aging baby boomers one of the housing market’s most formidable subsets, thoughtful extra features such as reinforced walls for grab bars, raised sinks and appliances, lowered light switches and lever door knobs – all of which allow for universal access by those with and without mobility impairments – can add valuable flexibility to your home and allow for what’s known in housing parlance as “aging in place.”

Beyond the basics: specialty rooms and outdoor amenities

Elsewhere in the home, several not-so-obvious features can be extremely important for motivating home buyers. In particular, according to a large percentage of NAHB respondents, the laundry room is the single-most desired “specialty area” in a new home. The second-most important specialty area is the dining room – a surprise to the many nay-sayers who’d predicted an early exit for this traditional feature. On the contrary, just over a third of survey respondents indicated they could do without a living room in their new home.   

The most important exterior features are, respectively, exterior lighting, a lot with trees, a front porch, a rear deck or patio, and a fenced yard. Beyond the basics, an outdoor amenity that is rapidly gaining in popularity is the outdoor fireplace/fire pit, for backyard barbecues and the like.  Sought-after community amenities include, by order of importance, a park area, walking/jogging trails, open spaces, a lake, and playgrounds.

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