Snow one day, sunny and 70 degrees the next – it must be spring in Michigan! Along with the temperamental weather and the emergence of the first brave flowers, we also see an increase in home buyers and sellers this time of year. Real estate activity typically picks up significantly in the spring as the weather warms up, the days get longer, and families start looking to move before the new school year starts. It’s also easier for buyers to view properties and their curb appeal, including landscaping and gardens.
Like bears coming out of hibernation, home buyers are starting to look for their “perfect home.” But what are home buyers looking for this year? Bright MLS conducted a nationwide survey of prospective home buyers to better understand the features and amenities that are most important to them. Here’s what they found…
The Five Most Popular Features
- Move-in Ready – More than half (56.1%) of survey respondents said that it was “very important” to buy a home that was move-in ready, with no repairs or major improvements needed. Another 37.8% said buying a home that was move-in ready was “somewhat important.” Move-in ready typically means that a property is in good condition, allowing immediate occupancy with minimal or no repairs or renovations needed. Appliances and essential systems like plumbing, electrical and HVAC should be in good working order, and the roof, windows and foundation should be in good condition. As far as cosmetics, move-in ready homes usually have fresh paint, clean flooring and updated light fixtures. Of course, most home buyers are still willing to update or personalize spaces, but are not looking for a “fixer-upper.
- Sufficient Room – Having enough bedrooms to accommodate their family was “very important” to 53.2% of respondents. The most common number of bedrooms in newly-built single-family homes continues to be three. In addition, having a primary bedroom with an en suite continues to be very popular, with nearly 50% of respondents rating that feature as “very important.”
While the trend toward bigger homes is reversing a bit these days, one of the most common reasons for moving is to find a larger home due to a growing family. In addition to bedrooms, according to the National Association of Home Builders, a large number of home buyers (63%) consider a home office or den to be a desirable feature, which makes sense since so many people are now working from home.
Smart Home Integration – There is a new generation of home buyers who are looking for homes that offer automated systems that adjust lighting, temperature and security. These integrated systems allow homeowners to monitor cameras, control locks, and get alerts remotely, while smart thermostats and appliances help optimize energy usage. These smart systems are no longer “futuristic,” but a major selling point.
- Flexible Living Spaces – This is a trend that came on strong last year and is poised to continue. More and more people are looking for flexible living spaces that can adapt to changing lifestyles and needs. Think of rooms or spaces that can be used for multiple purposes, such as a home office, playroom, or guest room, depending on needs. This can be especially important in smaller and mid-sized homes (1,400 to 2,500 square feet), where every foot counts. This trend may be linked to the fact that so many people are spending more time at home and demand more when it comes to their living space. The House Designers are seeing a trend towards rooms that can be combined to create in-law suites, offices, music/media rooms, gyms, and craft or hobby rooms with the creative use of cabinetry/storage, modular and multi-purpose furniture, and room dividers or partitions.
- Upgraded Kitchens – For many potential buyers, the kitchen is the room that can make or break a sale. A modern, well-designed kitchen can not only boost a home’s resale value, but it will also make it more attractive to potential buyers. Popular features include updated cabinetry, granite countertops, stainless steel appliances, and hardwood floors. Ample storage is also a major selling feature.
Other Considerations
While these features topped the “wish list” for potential home buyers, there are a number of amenities that are still important to them, including energy efficient/green features, well-designed outdoor spaces, distance from job/commute, and proximity to retail/restaurants. In fact, walkability was cited by 36.1% of future home buyers as being “very important.”
Whether you’re thinking of shopping for the perfect home or preparing to sell your home and need advice on how to make it more marketable, your first step should be contacting a trusted real estate professional. Realtors can help you navigate a complex real estate market, find properties that suit your needs, and ensure a more informed purchase or sale. Call us today and let us help you find your perfect home!
