There couldn’t be too many more important things in real estate than knowing what buyers want in a home. New home developers have to get that right and real estate agents who buy and sell resale homes and condos need to understand that too.
Let’s face it, the variety of features in a home can be endless. It is tough for anyone, even a seasoned realtor, to know what a particular buyer’s priorities are. However, knowing statistically what buyers are looking for is wise. Women may favour the kitchen and bathrooms, while men might favour a backyard or garage in the prospective home. But that’s not always the case, as particular needs might have more to do with location and neighbourhood.
Other than the lowest price possible, what do buyers want in a home?
Point2point conducted some research in the Canadian real estate market and came up with this list. These are words realtors used in their MLS listings. They are more than features however. They’re words that buyers respond to. And who can argue that buyers want beautiful, enjoy, quiet, perfect, huge, and bright?
- Hardwood floors
- Stainless steel appliances
- Close to schools
- Gas fireplace
- Washer dryer
- Wood burning fireplace
- Electric light fixtures
- Lots of storage
- Garage door opener
Point2point also produced two other lists which showed different words/features used for homes over one million and under million. For listings under a million, spacious, washer dryer, close to schools, and bright were higher priorities. For homes over one million dollars, pool, huge, luxury, wood burning fireplace, and quality were more prominent.
These lists give some hints as to what’s on buyer’s mind when property value is a major consideration.
Next, decoratingdivas, an interior design firm ranked what they believe homebuyers want:
- Open concept
- Outdoor living space
- Neutral décor
- Upgraded, modern kitchens
- Smart growth density planned housing
- Green, eco friendly
- Linen closets and smart storage
- Energy efficiency
- Double car garages
Okay, that’s another perspective. Now what do buyers themselves want? According to the US NAHB, buyers are demanding:
- Energy-star rate appliances
- Laundry room
- Energy-star rating for the home
- Exhaust fan in bathroom
- Exterior lighting
- Bathroom linen closet
- Energy-star rated windows
- Ceiling fan
- Garage storage
- Table space for eating in kitchen
- Walk-in kitchen pantry
These surveys didn’t take into account main features of the home such as number of bedrooms, kitchen amenities, number of floors, number of bathrooms, finished basement or square footage. Perhaps these items aren’t as important as all the listed items above?
From these lists, you get a good picture of what buyers want in features and aesthetics. And buyers in each city would have preferences unique that city. Buyers in Calgary or Edmonton would be looking for different features than someone in Vancouver or Kelowna. The geography and weather are different giving rise to different wants and needs.
To learn more about the Calgary real estate market, visit Calgaryhomeboys.com. You’ll discover listings of million dollar homes and more modestly priced houses and condos. Calgary is booming and real estate is a viable investment opportunity.