What Do Buyers Want?

In this post I’d like to take a look at homes that are very desirable with buyers. I already mentioned in my previous post that buyers want a house in a move-in condition but good condition is just one of the many things on their list.

Here I will talk mostly about younger buyers.

Homes purchased by first time home buyers accounted for 47 %  of all the homes purchased in 2010 according to NAR (National Association of Realtors).

However I think the following wish list is true for other categories of buyers.

So What Do Buyers Want ?

First is the price, they want a deal, whether it is a short sale or a regular sale.

As everybody has learned, the prices can go down, so they do not want to buy and be upside down when they want to resell in a few years. It is interesting to note that younger buyers view long-term as 5 years. They are willing to move.

Another item on the list is the closing costs assistance. Often buyers qualify for a mortgage but do not have enough cash for closing cost.

I have already mentioned the house needs to be in good condition, but buyers are looking for more than that, they want touches of luxury, which are expensive finishes in not very expensive homes such as marble tiles, granite countertops, impressive sinks, stainless steel appliances.

As far as the lay-out everybody wants "light & bright." Which means open floor plan, open kitchen.

For younger people it is important to have a gathering space, a game room where they can hang out and watch sports or play ping-pong.

Younger buyers or just busy professional people are looking for low maintenance homes, most people do not need a big yard, they prefer smaller size homes and less formal, less taxes, less heating bills.

This post is based on my own experience working with younger buyers and a recent article by Source: "Nine Items Homebuyers Desire in 2011," Bankrate.com, Dana Dratch (June 16, 2011)