Homebuyer Shifts in Home Amenities

The pandemic has caused a shift in homebuyer amenity preferences

For the past few years, many homebuyers have had time to think through what they want in a home. Since almost everyone has been spending more time at home, living space has become more important than ever. The pandemic caused the home to reach a new level of prominence in our lives; its purpose has expanded beyond just a functional dwelling to many other non-traditional roles. Entire families perform essential functions, such as schooling, work, shopping, and even healthcare visits from their homes using a screen and an internet connection. Amenities that support the home’s new functions have seen skyrocketing demand.

Although different markets and generations want different amenities, for the most part, the following amenities preferences span all markets and generations.

Location

The pandemic has led to a substantial shift in housing demand from central cities and dense neighborhoods to the suburbs and neighborhoods with lower population density. The telepresence boom has created a coronavirus moving phenomenon. Now that people can continue their lives remotely, they can do so from anywhere.

Floor Plan

Although the open floorplan had become the most popular design choice over the past 20 years, there has been a shift since the pandemic. More people in one open space, having meetings, exercising, working, having meetings, cooking, etc., doesn’t work very well.

More homebuyers want some partitioning or separation in living spaces to offer additional privacy. Homebuyers will also search for homes with a flexible floor plan that provides bonus rooms, office space, second master suites, guest quarters, third car garages, etc., that could be utilized for different purposes. Therefore, the most desirable homes that seem to fly off the market are those that promise more space and more efficient space partitions that are better suited for the new work/life balance requirements.

More Space

The most recent interior and exterior amenities desired by homebuyers all require more space. According to an NAHB (National Association of Home Builders’ survey, the increased desire for bigger homes is driving new home design, resulting in a rise in the average size of a new home to 2,524 square feet and the percentage of new homes with 4+ bedrooms and 3+ full bathrooms to 46% and 34%, respectively.  

More square footage allows for the flexible floor plan mentioned earlier.  Equally important to having the home gym or office is having the interior space and flexibility to have them at some point in the future.

Family is another reason for homebuyers wanting more space. A National Association of Realtors survey showed that homebuyers are looking for more space to accommodate immediate and extended families. Family was one of three shared preferences among buyers who had prioritized a home feature due to the pandemic.

Updated kitchens and baths

Kitchens are no strangers to homebuyers’ must-have lists, but they may be an even bigger ingredient in pandemic home sales. A  Morning Consult survey found that 56% of respondents were cooking more during the pandemic, and 36% were expecting to cook more after the pandemic. Also, more time in the kitchen is the number one reason for the demand for an extra-large or walk-in pantry.

Homebuyers also want high-end appliances, countertops and backspaces, and a kitchen footprint that functions well.

Homebuyers are also requesting updated bathrooms. They also prefer additional bathrooms for guests, those working from home, and the expanded multi-generational family.

Laundry rooms

Often overlooked but never unappreciated, laundry rooms have found themselves at the top of almost all homebuyers’ priority lists. According to a Kiplinger article, 91.0% of buyers want laundry rooms in their new homes.

Exterior Space

Many homebuyers have become increasingly interested in the outside of their future property. Homebuyers want more outside space as well. There is interest in more “vacation-like” amenities in outdoor space. More homebuyers are requesting pools or the space to install a pool in the future, patios, outdoor kitchens, and fireplaces/pits.

Eco-friendly design

Homebuyers are deliberately seeking out properties that are more efficient and environmentally conscious. Making homes more sustainable and implementing green technology has become growing priorities. An estimated 69% of homebuyers find value in homes with energy-efficient features.

An eco-friendly house respects the environment is made from non-toxic materials, and is energy-efficient in its construction and use. Natural, recyclable, and non-pollutant building materials are preferences for interior and exterior home amenities. Natural materials are appealing, and people like the look and feel in addition to keeping things natural. Eco-friendly products include paints, natural stones and woods, and other types of materials being installed in homes that do not emit VOC (Volatile Organic Compounds) and cause environmental hazards.

Energy-Efficiency

Environmentally conscious homebuyers are also looking for energy-efficient homes. According to research from the National Association of Home Builders (NAHB), energy efficiency is a primary driver of home buyer preferences. The majority of homebuyers prefer to go green when provided the option, such as incorporating passive solar design (60 percent) and durable materials (66 percent) into their homes. Homebuyers are also willing to invest in features that help lower their utility bills. The average homebuyer is willing to pay as much as $9,292 more upfront for a home to save $1,000 annually on utility costs.

In addition to energy-efficient amenities such as higher efficiency air conditioning, better insulation, radiant roof barriers, and better quality windows promoting cost savings, they can simultaneously promote water efficiency, reduction in carbon emissions, reduction in waste sent to landfills, improved indoor air quality, and the protection of natural resources.

As we’ve seen with the pandemic, homebuyer amenity preferences result from what’s happening in society at large.  The above preferences may be transitory or permanent.  Only time will tell.