Survey Spotlights Key Home Buyer Preferences
- Just over half of all home buyers surveyed said they would like to buy a brand new home --28% directly from a builder and 27% custom built on their own land -- while 45% say an existing home is their first preference.
- Buyers expect to pay about $203,900 for their next home.
- Buyers want a home with a median of 2,226 square feet, which is about 17% larger than what they have now.
- Approximately 25% of buyers say the size of the lot is not important when choosing a home.
- Almost half (47%) want three bedrooms, while 32% want four bedrooms. Most (65%) prefer either 2 or 2.5 bathrooms.
- Most (57%) prefer a single-story home; 31% prefer two stories.
- A full or partial basement is something that 66% of buyers say they want.
- About half (48%) of buyers who want a 2-story home want the master bedroom on the second floor, while 70% prefer to have the washer and dryer on the first floor.
- Most buyers want a 2-car garage (53%), while 1 out of 5 buyers wants a 3+ car garage.
- For 65% of buyers, the most influential characteristic when buying a home is "living space and number of rooms that meet their needs."
Housing News in 60 Seconds - Home Prices on the Rise and More
Housing Now TV has a new 60-second update on industry news, including the latest results of the S&P Case Shiller index showing substantial home-price gains in markets across the U.S. and other recent developments. Tune in to view highlights of NAHB's recent congressional testimony in which they strongly defended critical housing incentives in the U.S. tax code, and find out how to access our association's new Government Affairs Twitter feed as well. View the latest segment online at www.nahb.org/60secondupdate, and forward this link to colleagues and others who might appreciate a quick update.
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- Joanne Loftus