Conveniently located laundry rooms, energy-saving appliances and windows, wireless controls and extra storage space are at the top of the list of features favored by homebuyers, a survey says.
The study, conducted by the National Association of Home Builders asked home buyers to select from a list of 175 features of items they considered most important in making a buying decision. The survey of recent home buyers or those planning to buy within three years revealed that smaller homes are becoming more favored as home prices rise.
Homebuilders, such as Denver Design Build, have responded with home designs that include many features that reduce environmental impact and improve livability and appeal.
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Townhouses Rising
Citing a study by the U.S. Census Bureau, the average home declined to 2,576 square feet from 2,689 square feet three years earlier. Part of the decrease in average square footage was due to an increase in the number of townhouses, which now make up 14% of all new builds. A researcher noted that this new trend shows builders are trying to “respond to the crisis around housing affordability.”
Suburbs Still Tops
Homebuyers also tend to view preferred locations along generational lines. Suburbs are still the most favored location with nearly two-thirds of all respondents, rural areas are preferred by one-quarter and central city locations by 13% those surveyed.
Of those who prefer to live in the city, Millennials were twice as likely compared to members of Gen X and three times as likely as Baby Boomers.
Open Kitchen Floorplans
The survey found that 86% of home buyers prefer open, or partially open kitchen and dining room floorplans. Stainless steel appliances are favored by 67% of buyers and natural stone or granite countertops preferred by 57% of buyers.
White on white cabinets and countertops are growing in favorability in both the kitchen and master bathroom, the report noted. The next most popular color scheme is gray on white.
Colorful Countertops
Other features growing in popularity include farmhouse-style room decor with plenty of wood, engineered quartz countertops offering a wide spectrum of color choices and wireless controls.
Vinyl flooring and other durable floor coverings are favored by buyers looking to age in place. In general, to age in place means the buyer is looking for a home to spend the later years in life and not move to a smaller home, assisted living or retirement community. The study, conducted by the National Association of Home Builders asked home buyers to select from a list of 175 features of items they considered most important in making a buying decision. The survey of recent home buyers or those planning to buy within three years revealed that smaller homes are becoming more favored as home prices rise.