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| What Do Home Buyers Want?
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The National Association of Realtors(NAR) preformed a survey in 2007 called “Profile of Buyers’ Home Feature Preferences”. NAR had 2530 respondents who purchased homes between late 2006 and early 2007. The last time they preformed this type of survey was 2004. The Most important feature according to the survey was central air. Seventy Four percent of respondents listed it “Very Important”. This was followed by Garage Spaces for 2 or more cars. Some other features were: Walk-in closets in Master Bedrooms, a back yard or play area, cable or satellite TV readiness, high-speed Internet access, hardwood floors, and granite countertops. Although Central Air ranked highest amongst all buyers this did vary by Region of the country. In the Northeasterners ranked back yards and play areas as the most important, Westerners ranked oversized garages as the most important feature, Southerners and Midwesterners were the driving force behind Central Air. The most important feature also varied by age of the buyer. Younger buyers listed back yards and play areas as the most important. Older buyers ranked walk-in closets as the most important feature. The feature with the highest percentage of change since the last time the survey was done was oversized garages. It went from 6% in 2004 to 56% in 2007. This was followed by Hardwood floors, granite countertops and cable-readiness. Ninety percent of home buyers were satisfied with their home purchased and two thirds were very satisfied. Sixty percent immediately started home improvement projects on their new home. Kitchen and Bathrooms were the area’s that most of the home improvements took place.
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Posted by gmcgowan on 2007-08-09 10:14:15 | Rating: | Views: 60
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