KEY POINTS Thanks to tightened inventory, housing prices have been on the rise across the country. In some states, prices are hitting levels not seen since before the financial crisis,
Mar 20 2018 3761 1
What amenities first-time homebuyers want most
MARCH 20, 2018
Last Updated: March 19, 2018 | View all posts by Kelly Leighton
First-time homebuyers are most eager for living rooms in their future property.
According to the National Association of Home Builders, 61 percent of first-time homebuyers consider a living room an essential part of their home. Beyond a living room, they are looking for a laundry room and a dining room, followed by garage storage and a walk-in closet in the master bedroom. Ideally, they’d also prefer both a shower stall and tub in the master bath, a front porch, two-car garage and a double-sink in the kitchen for 40 percent.
On the other hand, second-time homebuyers are more apt to want a laundry room over anything else, according to 72 percent. Next on their list was a living room, followed by a walk-in closet in the master bedroom and a two-car garage. Garage storage was also a feature many wanted, as well as a double sink in the kitchen. A dining room and patio are on the want list for many second-time buyers as well.
Rounding out the top 10 for must-have features for second-time buyers are table space for eating in the kitchen, and a tub and shower stall in the master bath. In their new property, second-time homebuyers also want hardwood flooring, Energy-Star appliances and granite countertops.
While garages weren’t a top priority for either first-time or second-time buyers, both still wanted garage space, along with a garage. Earlier this year, Remodeling Magazine found that an upscale garage replacement has a 98.3 percent cost recouped, with the average job costing $3,470, with a resell value of $3,411. Perhaps a garage replacement is truly the best remodeling project for sellers.
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