Recent surveys have suggested that home buyers want more; more bedrooms and bathrooms! Yet, they do not want extremely large mansions. New home buyers that are entering into the market prefer moderately sized homes with multiple bedrooms and bathrooms.
What Buyers Want
According to the Commerce Department’s data, buyers are demanding 4 or more bedrooms and 3 or more bathrooms. Construction builders have begun to take note of these demands and in 2014, 46% of new homes had 4 or more bedrooms.
The Commerce Department stated that there is an increasing demand for 3-car garage as well. The majority of newly constructed homes continue to have 2-car garages but in 2014, 23% of new builds had 3-car garages. Future predictions suggest that 3-car garages will be continue to be demanded as well.
Patios are also in high demand. Patios add character to a home while providing a nice, outdoor space. In addition, buyers are purchasing homes with HOA’s. Large builders that are building the neighborhoods are creating new Homeowner’s Associations. These HOA’s provide neighborhood guidelines and a variety of community amenities.
Besides physical attributes, buyers also want more energy efficient products within their homes. Buyers prefer energy-efficient light bulbs, which decrease utility bills. Demand for energy-efficient windows is also increasing. Energy-efficient windows are typically sturdier and vacuum-sealed to decrease heating and cooling costs.
New home buyers will continue to morph the residential construction industry. As time goes on, it will be interesting to see what demands they will have too!
By Anna Hellman
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