Home Buyer Survey Reveals Most Wanted on Home Shoppers’ Wish Lists

The latest home buyer survey dropped earlier this month, and its findings indicate that this year’s top-selling properties are likely to be single-family homes with features that deliver more privacy and better support the needs of immediate family. Other survey highlights, including the top goal of today’s home buyers and the motivations of millennial home buyers, offer additional insight on what’s driving the average person’s desire to buy. Get more details on this survey’s key takeaways and learn which features topped home shoppers’ wish lists below.

Top Home Features in the Home Buyer Survey

When it comes to the top home features people search for, garages, updated kitchens, and large backyards are on the wish list for home buyers. So, if you currently have any listings that offer these items, you may want to highlight them in your advertising to take advantage of their popularity. The large backyards, in particular, seem to be popular among young home buyers with children.

The Goal of the Average Person Buying a Home in 2017

When asked to rate the importance of various home ownership goals, buyers in most age groups rated privacy as the most important goal; they want a space that is just for them and their family. With that in mind, condos and townhomes might not do as well as they have in the past, especially in areas where single-family homes are affordable. Other popular goals, like meeting family needs and stability, also indicate that single-family homes are what most buyers will be looking for this year.

What Motivates Millennials According to the Home Buyer Survey

Interestingly, the millennial home buyer group was the only group in the survey to rank meeting family needs significantly higher than privacy, likely due to the fact that a large percentage of people in this group are having kids and looking to settle down. If you happen to have millennial clients with kids, you might find that they care more about nearby schools, large backyards, and safety than clients in other age brackets.

Top Triggers Ranked in the Home Buyer Survey

The top trigger for moving isn’t complicated; most home buyers in the survey simply got tired of their current home and were ready to find a new place to live. However, other highly ranked triggers, like change of family circumstance and increase in income, show that major life changes are still fairly reliable predictors of potential home purchases.

As you know, staying on top of the latest real estate trends and predictions is essential when it comes to ensuring your marketing and client-retention tactics are in line with current home buyer goals. Analyzing the latest home buyer survey is one way of doing just that. Consider the results of this home buyer survey when evaluating your current business strategies. If these strategies haven’t been working as well as expected, the problem might be that you haven’t been focusing on what home shoppers really want.

Pat Hiban is the author of NYT best selling book “6 steps to 7 figures — A Real Estate Professional’s Guide to Building Wealth and Creating Your Destiny”, founder of Rebus University and the host of Pat Hiban Interviews Real Estate Rockstars an Agent to Agent Real Estate Radio Podcast with Hiban Digital in Baltimore, Maryland. Follow him on Facebook or Twitter.

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