What Do Buyers Care About Most When Making a Home Purchase?
Buying a home is a critical decision, and it’s one that you’ll likely make over and over again in your life. It’s essential to make the right decision, and that starts with choosing the right property for your needs.
There are some common denominators when it comes to most home buyers on what’s crucial to them. Not only do these things resonate with buyers but they also have a significant impact when it comes time to sell.
It makes sense to speak with your real estate agent early on to give them a sense of your priorities when it comes to a home purchase. Some of these factors may be more important to you than others. For some buyers, these items could be deal breakers when they don’t meet desired expectations.
The five most vital factors when considering a home purchase include the following:
- The size of the lot
- The location of the house
- The number of bedrooms
- The number of bathrooms
- The desirability of the kitchen
Let’s take an in-depth look at each of these amenities and why they are so important to home buyers making a sound real estate decision.
The Size of The Lot
You’ll want to make sure that the lot size is big enough for the size of home that you want. Many buyers don’t have a sense for land size. It is not uncommon for real estate agents to speak about lot size in terms of acres.
You may not even know how big an acre is or how many square feet in an acre. Sometimes not enough thought goes into choosing the lot that fits your lifestyle. Do you need a big lot with an expansive backyard for kids to play ball? Maybe you have no desire to maintain a spacious yard and would rather have a more wooded lot?
Within a neighborhood, the lot sizes may be fairly similar.
Once you’ve decided which properties to view, you’ll soon see if you have a preference for large or small yards, corner or interior locations.
Some lots are shaped like pies; some are shaped like rectangles, and some have an irregular shape. Does this matter to you?
Lawn care is a vital part of keeping your home looking its best. Depending on the level of privacy, how you will use the lawn? Will the length of the driveway have an bearing on the lot’s desirability? If you live in a cold weather climate having a long driveway to plow might not be appealing.
The Location of The House
There is a reason real estate agents constantly preach location, location, location. It matters both in the short and long term! You’ll want to make sure that the house is in a good location.
Location is important to buyers when searching for a home. They want to find neighborhoods that are convenient to their favorite places, such as work, school, shopping, recreation, restaurants, and other amenities.
It is important to check traffic flow on the main roads in order to find easy access.
By checking out the area before making a purchase, you can avoid hassles getting out of your neighborhood and onto the main thoroughfare or a long commute.
Schools often are another crucial element in choosing the right location. Many buyers will seek out the areas with the best school districts. There is almost always a correlations of real estate values with great schools.
The location of the home within a neighborhood is a vital factor to many people. Some home buyers prefer a lot close to the main entry, while others like to be away from traffic and further into the development.
Cul-De-Sacs within a neighborhood tend to be extremely popular. An excellent local real estate agent can help point out the most desired areas in a specific city or town. Even when buying land to build a home, the location should be a chief concern for resale.
The Number of Bedrooms
When buyers put together a wish list for a real estate agent to help them find a home, the number of bedrooms is always discussed. Many buyers will have a minimum number of bedrooms that are acceptable.
The most common number of bedrooms desired by buyers is either three or four. Often it will depend on how many children will be living in the house.
Bedrooms are often divided according to family preferences, with some families preferring their children to share bedrooms, while others prefer separate bedrooms for each child depending on their age.
Designating a bedroom as a guest room can be helpful if you have regular visitors. An extra bedroom can often be used for a variety of purposes, such as an office, den, children’s playroom, or exercise room. The flexibility is popular with a large percentage of buyers.
Many hobbies can be enjoyed in a home with an extra bedroom that serves as workspace and storage for supplies. Consider your lifestyle and what will make it more enjoyable.
The Number of Bathrooms
The number of bathrooms contained in a home can be a deal breaker for some buyers. Most buyers prefer having at least two full baths. Having a bathroom in the master creating an ensuite bath is often high on a buyer’s priority list.
Many older homes have only one bathroom. If there isn’t a way to add another it could be immediately scratched off a buyers list.
Homes that have two baths don’t always have what you want such as a dedicated tub. Many might just have a shower. Jacuzzi tubs or Whirlpools used to be must have items but they have been replaced by luxurious showers.
In fact, most buyers prefer a high end shower vs. having a tub in their bathroom. When there are kids have a tub will still be important to have in the main bathroom.
A bathroom should be designed with the needs of the people who will be using it in mind. For example, if many guests will use the bathroom at once, a large bathroom with plenty of space is best. If only one or two guests will use the bathroom at a time, a smaller, more private room may be better.
Updated baths are certainly high on a buyer’s priorities as well.
The Desirability of The Kitchen
If you ask a real estate agent what the most important room in the house is, you’re likely to hear the kitchen. Let’s face it, we spend most of out time there. It stands to reason buyers put the kitchen at the top of their wish list.
If you love to cook it is bound to be even more crucial for your needs. The kitchen is a popular spot for guests to hang out, as it is the center of activity and entertainment in the home.
A large kitchen with many counter spaces, sinks and storage is ideal if you plan on cooking gourmet meals frequently. A typical kitchen may suffice if you only cook occasionally.
The most popular choices in kitchens today tend to be white, cherry, or maple. Buyers love to have an island for both food prep and hanging out. Stainless steel appliances are still the most desired choice. Granite and quartz countertops are what the most desired choice.
These are the five most important factors to consider when buying a home. Make sure to consider them all, and you’ll be able to make the best decision for your needs. Homes that touch on numerous home buyer needs tend to generate multiple offers when listed for sale. They also appreciate faster than other properties.
About the author: The above article on “The 5 Most Important Factors To Consider When Buying A House” was written by Bill Gassett. Bill has been working in the real estate industry for the past thirty-three years. He works for RE/MAX Executive Realty in Hopkinton Massachusetts. Bill loves providing trustworthy information to buyers, sellers, and fellow real estate agents to make the best possible decisions. His writing has been featured on RIS Media, National Association of Realtors, Inman News, Placester, Today.com, Credit Sesame, and others.
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