There are many factors to consider when purchasing a home, but what do home buyers really care about most? According to a recent survey of 2,000 home buyers, the three most important factors in their decision-making process were location (74%), price (73%), and size (51%).
While these may be the top three concerns of those surveyed, all buyers are different and have their own individual priorities. Some other important factors that ranked highly included amenities (52%), school district (46%), and commute time (45%).
When searching for your perfect home, it’s important to keep in mind what is most important to you and weigh all of the factors involved in your decision. With so many options on the market, there’s sure to be a home out there that meets all of your needs – you just have to know what you’re looking for!
Location Is Everything
More than a walk-in closet, extra bedroom, a patio, energy-efficient windows that save on heating and cooling costs, etc., most buyers seek a desired location over everything. Prospective home buyers are willing to sacrifice other features for a home that’s in their desired neighborhood.
Most buyers know that when it comes to finding the ideal home, location can be everything, and they let their real estate agent know they prefer some areas over others. Many individuals are willing to make sacrifices in other areas such as interior design and upgrades, like having a kitchen island, more living space outdoors, a walk-in pantry, and other desirable home features for the chance to score a property that is perfectly located in their desired neighborhood or city, thus affirming the age-old adage of ‘location, location, location’.
However, one should always consider their long-term goals before making this decision; will settling for a less-than-desirable home limit the equity growth potential? Buyers, very often, intend to use a home as a long-term financial vehicle, or a source of equity for the future. If location is still the priority, this sacrifice could make all the difference and very well pay off in the long run.
Size Matters
It’s true, size really does matter, at least when it comes to home buying. Before making that down payment, most prospective buyers want to ensure that they have enough space for their current and future needs — especially if they’re planning on starting a family or hosting frequent guests. They want plenty of room to move around and make it feel like home is where their heart is. Bedrooms and living areas are key elements in which buyers invest heavily, with larger sizes ideal for flexibility of use; many would rather pay extra for the necessary square footage than cram all the furniture into an undersized area. Having enough space can also make any home more pleasant and inviting, so buyers should never compromise on square footage when choosing their next home.
Curb Appeal Is Key
Buyers typically have strong first impressions when viewing a potential home, and that initial impression can lead to a sale or turn away a buyer. It is essential that the home has curb appeal, meaning it is well-kept and looks attractive from the outside. The landscaping should be kept up, gardens maintained, steps constructed properly, and sidewalks kept clear of debris. Take a moment to step back and appreciate the beauty of your home – it can be an important part of your house’s appeal! From the moment their car pulls up, potential buyers should feel welcomed by its presence.
With a few tweaks and touches of modernization here or there, you could even increase the property value slightly before selling. The bottom line? Curb appeal is key for any potential home buyer; ensuring your property truly stands out from the rest will help make sure potential buyers stay just that – potential buyers looking for their next dream home.
Storage Space Is Important
Having enough room to store belongings (and then some) is crucial for many buyers. Storage space is at the top of the list for many home buyers when searching for their dream home. A large storage area, either a dedicated storage room or multiple storage closets in a living area, is a must-have feature as it provides ample space to store belongings, as well as extra items that might need to be stored away from time to time. With ample storage space, not only can buyers keep their essential items neatly tucked away and organized, but they can also avoid cramped spaces and cluttered rooms due to overflow. It’s no surprise that plenty of high-quality storage areas are at the top of the list for prospective house hunters.
Know Your Housing Market!
If you’re planning on putting your home on the market, it’s important to keep these things in mind. Buyers are often willing to sacrifice other features for a home that’s in their desired neighborhood, and size does matter – potential buyers will want to see a decent amount of space. Additionally, curb appeal is key; first impressions matter, and a well-kept yard and exterior can make all the difference. Finally, storage space is important; many buyers want enough room to store belongings (and then some). For more information on available listings in your area, please visit TheMLSonline.com.
