Things change throughout the years. Certain fashion trends cycle in an out every few decades, and some disappear altogether. The same thing goes for home trends. Even just thirty years ago, the must-have features of a home were drastically different than what they are now. The U.S. homeownership rate was roughly 63.7% in 2016, and those homeowners certainly had a list of must-haves when they bought their houses. Let’s look at what’s big these days; some of them are new trends while others are timeless.
One of the biggest things people are looking for in the present day when they buy a house is updated windows. Energy efficiency is huge (we’ll get to that), and new windows are a great place to start. For example, dual-paned windows are two times as effective at retaining heating and air conditioning compared to single-paned windows, and buyers want to know that they won’t be wasting money on energy bills every month.
Another desirable feature people are looking for when they buy a house today is a large garage. More than 80% of home buyers are looking for a big home garage with a lot of storage space. Why is that? Well, a big reason is that people want to be able to work on their cars at home. The auto tools industry makes up 7% of the top services performed based on the total purchasing dollars in America, and people need a place to store their tools and work on their vehicles.
Location is known as the first rule of real estate. Location is essential, but it’s often overlooked. The Balance recommends narrowing your list down to three to five neighborhoods you would like to live in and go from there. You need to consider things like schools, crime rate, and things to do. For example, recreational diving and snorkeling bring in nearly $11 billion to the U.S. GDP, and more people are playing tennis than ever before. If those recreational activities mean a lot to you, you probably want to live near a park or a body of water.
As stated before, buyers are looking for energy efficient features in their home when they buy. Energy efficiency not only saves you money on your energy bills, but it’s better for the environment too. Energy Star appliances were the most desired feature in a Home Trends and Buyer Preferences survey, and 94% of respondents picked them. Plus, nine out of 10 buyers in 2011 said they’d rather have a home with energy-efficient features.
Sure, carpets are nice, but have you ever lived in a home with hardwood floors? These are known as a “bling feature” and more than 87% of today’s buyers desire hardwood floors. That high percentage makes them one of the most desirable features in a home.
Outdoor living spaces
Finally, people love entertaining. They want to have parties in their home, and they want to have them in their backyards too. According to a 2011 Design Driver Survey from AvidBuilder, 31.4% of move-up buyers (people moving to a larger home) said they either really want or must have an outdoor fireplace for outdoor living and entertaining.
If you’re looking to buy a house, then you might be looking for these popular features too. If you’re trying to sell your house, updating your current home to have these features just might help you sell faster and/or get more money!