What do home buyers want? While homes are getting bigger to cater to more affluent consumers, when it comes to the average home buyer, expectations aren’t so grand.
In 2012, the average new house was 2,524 square feet, with 42 percent boasting four or more bedrooms. But the average consumer reported they wanted 2,226 square feet, and the majority of buyers — 60 percent — want 2 or 3 bedrooms, according to data presented at the National Association of Home Builders’ annual conference in Las Vegas. Whether a respondent had children was a major factor in how they felt about bedrooms.
When it comes to commodes, 2.5 bathrooms are enough for most buyers, although 29 percent of new homes are coming with three or more.
Amenities seem to rule the roost: two-thirds of survey respondents said they’d take a smaller house if it had higher quality products and amenities. By contrast, only 38 percent said they’d sacrifice amenities for space.
In terms of price, 37 percent were willing to accept a smaller house if it would make it more affordable. To put that in perspective, only 24 percent were willing to take accept a longer commute if it saved them money on the house.