Monday, May 12, 2008

Less Can Be More for Buyers

A recent Washington Post article noted that “less” is getting noticed by more homebuyers. According to the 2007 National Association of Home Builders survey, 59 percent of respondents reported that they would prefer a smaller house with high-quality products and amenities, as compared to the 42 percent who preferred a bigger house with fewer amenities. This data represents a change from 2000, when 51 percent wanted a bigger home with fewer amenities.
The 2007 National Association of Home Builders survey also reported:
  • 91 percent desired an energy-efficient home that resulted in lower utility bills over the lifetime of the home and used less energy.
  • 74 percent wanted one full master bedroom suite, plus three standard bedrooms.
  • 69 percent expressed a desire for more space in the master bedroom and less space in the master bath.
  • 63 percent preferred a typical kitchen and living area, while 61 percent wanted an open living room/dining room.
  • 53 percent preferred a family room and living room about equal in size.