One in three households plans to move into another residence over the next 5 years, according to The Demand Institute.
There are a lot of people on the move. So what are home buyers looking for?
Two of the main reasons people move are changes in employment and family situations. Another reason is that people simply aren’t satisfied with their living spaces, according to the National Association of Realtors®.
Disenchanted homeowners are giving up on places they don’t want. Instead, they’re investing in properties that they actually like – and will enjoy living in.
WHAT THE TYPICAL HOMEOWNER DOESN'T LIKE
Most homeowners aren’t shy about what they don’t like in their current homes. Research shows that dissatisfied homeowners feel that their home:
· Is not energy-efficient enough
· Needs serious improvements or renovations
· Is outdated or out of style
· Won’t accommodate them as they age
· Features limited storage space
Many homeowners also feel that crime rates have risen in their neighborhoods since they’ve purchased the home, while others just don’t like their neighbors (nosy and noisy are two of the most commonly cited descriptors of bad neighbors).
WHAT THE NAR SAYS MOST HOMEBUYERS WANT
What are home buyers looking for? Most homebuyers – and as a Realtor®, you probably already know this – want homes that feature:
Energy efficient, modern appliances and HVAC systems that can reduce monthly utility bills
Trendy, natural stone countertops such as granite, soapstone or marble
Hardwood floors and ceramic tile (carpet has lost popularity – it’s expensive to maintain and replace, and it can lead to an increase in allergens)
Attached, roomy garages
Amenities such as whirlpool tubs; separate showers and tubs; finished basements and walk-in closets.
Newer windows that they can clean and adjust easily.
According to NAR, you’ll be able to give your buyers the best experience possible if you understand where they’re coming from – and this research says it all.
ARE YOU WORKING WITH
If you’re not already part of the Benchmark Realty team, now’s a good time to think about what we have to offer.
Call us at 615-371-1544 or get in touch with us online. We’d love to set up a confidential meeting where you’re welcome to ask us questions and determine whether Benchmark Realty is a good fit for your real estate career.