How to Make Your Home Sell Fast: What Home Buyers Really Want in 2024
The National Association of Home Builders (NAHB) has unveiled its latest comprehensive analysis, “What Home Buyers Really Want, 2024 Edition.” Authored by Rose Quint and published on April 3, 2024, this study provides an extensive overview of the housing preferences shaping the market.
Drawing from a vast dataset of over 3,000 recent and prospective home buyers, the report not only sheds light on the must-have features of contemporary homes but also delves into the evolving expectations of buyers across various demographics, including age groups, geographic regions, racial and ethnic backgrounds, income brackets, and preferred price points.
Home Buyers Top Desirable Home Amenities
Home buyers prioritize outdoor living and smart home convenience when buying a home.
The 2024 NAHB study reveals laundry rooms and patios as the most desired home features, with an 86% buyer preference. Additional outdoor features like exterior lighting, front porches, and landscaping further emphasize the importance of outdoor aesthetics and functionality. Inside the home, modern kitchens with energy-efficient appliances and features such as walk-in pantries are crucial. Technology also plays a significant role, with a growing demand for smart security and energy management systems. These preferences underscore a shift towards homes that offer both convenience and sustainable living, guiding builders and developers to align with current market demands.
Patios and Laundry Rooms
Home buyers prioritize laundry rooms and patios in their home choices.
At the heart of the study’s findings is a list of 13 features that have emerged as non-negotiable for the vast majority of home buyers. Leading the charge at #1 and #2 are the laundry room and patio, each commanding the approval of 86% of respondents who deem these amenities either essential or highly desirable. This strong preference underscores the growing importance of convenience and outdoor living in today’s home design.
Outdoor Living Enhancements
Outdoor hardscape design features increase curb appeal and sales prices.
Further emphasizing the allure of the outdoors, the study highlights three additional outdoor features that buyers covet. Exterior lighting, favored by 82% of respondents, enhances both the beauty and security of the home environment. Close behind, the classic front porch, with an 81% desirability rate, offers a quaint, welcoming space for relaxation and social interaction. Landscaping, with an 80% approval rating, not only beautifies the property but also significantly increases its curb appeal and sales price.
Kitchens & Energy Efficiency
Kitchens and energy efficiency are key focal points for home buyers.
The kitchen remains a focal point of the modern home, with buyers placing a high value on table space for eating and a walk-in pantry, each preferred by 80% of participants. The emphasis on energy efficiency is equally pronounced, with ENERGY STAR-rated windows and appliances drawing approval from 83% and 80% of buyers, respectively, highlighting a collective shift towards more sustainable living practices.
Additional Preferred Features
Technology plays a growing role in home security and efficiency.
Rounding out the list of top features are ceiling fans, garage storage, hardwood flooring for the main level, and a full bath on the main level of the home, each receiving the nod from 81% of respondents. These preferences point to a broader desire for comfort, convenience, and aesthetic appeal within the home. While the core list of most-wanted features has shown remarkable stability over time, the NAHB study also uncovers a dynamic shift towards security cameras, wired home security systems, and programmable thermostats.
These home technology advancements, now essential for a substantial segment of buyers, signify a growing reliance on technology to enhance home security and energy efficiency.
The people have spoken: renovate your patio to improve your home value
Elevate your home’s appeal and market value by transforming your patio into an aesthetic outdoor living space. The latest NAHB study highlights patios as a top priority for homebuyers, underscoring the significant return on investment that comes with a beautifully renovated patio.
Don’t miss this opportunity to make your home stand out in the market. Our expert team specializes in creating stunning, functional patio spaces that promise not only to enhance your daily living experience but also to attract future buyers.
Sell Your Home Fast by Adapting to the Evolving Home Buyer Landscape
New home builders are encouraged to adapt to changing buyer preferences.
The “What Home Buyers Really Want, 2024 Edition” study offers invaluable insights into the priorities and preferences of today’s home buyers. With a clear trend towards convenience, outdoor living, energy efficiency, and technology, the findings serve as a strategic guide for builders and developers looking to meet the demands of the contemporary market. As the landscape of home buyer preferences continues to evolve, the industry is encouraged to adapt and innovate, ensuring that new homes not only meet but exceed the expectations of future homeowners.