Tuesday, September 25, 2007

Home Features Buyers are Willing to Pay For

Statistics from NAR Research "profile of Buyers' Home Feature Preferences"

Percentage of buyers prepared to pay a premium for key features:
Walk-in Closet in Master Bedroom 60%
Hardwood floors 57%
Granite Countertops 56%
Separate Showers in Main Bath 47%
Whirlpool Bath 40%
Cable/Satellite TV-ready 36%
Sitting Area in Master Bedroom 29%

Oversize Garage 56% (up from 6% in 2004)
Patio 54%
Fencing 51%
Porch 48%

Most Desired Home Features Very Important to Buyers

"Everybody has become so dependent on their cars and technology, for both work and personal use, that they're expecting their homes to have these amenities now," says Fran Davis, chair of the NAR Economic Issues and Residential Real Estate Business Trends Forum.

Most Desired Home Features Ranked "very important" to buyers across the United States:
1. Central Air Conditioning
2. Oversize Garage
3. Walk-in Closet in Master Bedroom
4. Backyard/play area
5. Cable/Satellite TV-ready
6. High-speed Internet access
7. Separate Showers in Main Bath
8. Patio
9. Fencing

More Home Buyers & Sellers use Internet and Realtors

More Home Buyers and Sellers Use Internet, Practitioners
Technology is transforming how Americans buy and sell homes in unexpected ways, and sellers using real estate practitioners sold their homes for 16 percent more than unrepresented sellers, according to new research released Jan. 17 by the NATIONAL ASSOCIATION OF REALTORS®.