May 22, 2019
What Buyers are Looking for in Homes in Today’s Market
What purchasers desire in homes, on a societal scale, is remarkably subject to trend. While there are certain evergreen necessities—kitchen, bathrooms, bedrooms—the shapes and functionalities buyers desire in these very important spaces go through changes that can seem almost fickle. (And of course there are elements in older homes that at a given moment may have seemed a necessity—carriage houses, servants’ quarters—that go out of style forever and require owners to be inventive in their repurposing.)
Key to the reported desires is the overall situational element: most buyers want detached single-family homes (77 percent of those surveyed). Only 13 percent prefer townhouses, even fewer—4 percent—are looking to occupy condos and other multifamily units, and the same approximate number are looking for manufactured (or mobile) homes. What buyers want within these situations boils down to the particulars.
Realtors, of course, are on the front lines of these desire-trends, and home builders are expected to respond to them. At the February International Builders’ Show conference put on by the National Association of Home Builders, the latter presented a laundry list (pun intended—see below) of features home buyers expect in their purchases going into 2019.
One of the most important home features sought out by purchasers? Laundry rooms (told you). These were considered more important to buyers than hardwood floors or fancy outdoor living spaces. Apparently people don’t like dealing with conspicuous piles of soiled clothes in high-traffic living spaces.
For potential sellers: this might just be the perfect use for that old servants’ quarters that you just can’t figure out what to do with.
The next most popular feature sought by buyers: Energy Star windows. Then came outdoor patios, Energy Star appliances, and ceiling fans.
Meanwhile, the shape that the all-important kitchen takes is key to purchaser preferences. Right now, people are looking mainly for “traditional” kitchens—with modern elements such as contemporary light fixtures, of course. All-over contemporary kitchens come next in the lineup, which means a lean-in on more powerful, industrial-style fixtures and appliances. Then comes the farmhouse style.
No matter what the kitchen looks like, title defects can occur with any property. We at Topouzis & Associates, P.C. are experts at ferreting out these defects and disposing with them in advance of closing. We take pride in the great amount and quality of experience we bring to the closing table in Rhode Island, Massachusetts, and Florida. Contact us if you want a partner in your property closing—one who makes everyone involved feel like family.