As the real estate market continues to evolve, it’s important for home sellers to have a strong grasp of what today’s buyers are looking for in their next home. A recent survey by Bright MLS offers valuable insights that can help homeowners maximize the appeal and value of their listings.
The survey of nearly 700 prospective buyers revealed several key priorities and preferences:
Move-In Readiness is a Top
Priority: More than 56% of respondents said finding a home that is move-in ready, requiring no repairs, was “very important.” Another 38% said it was “somewhat important.” This suggests that highlighting a home’s turnkey condition can be a major selling point.
Bedrooms and Functional Spaces Matter Most: The right number of bedrooms was very important to over 53% of buyers. Garages and primary bedrooms with en-suite baths were also highly valued. However, more specialized spaces like home offices and elaborate outdoor areas were lower on the list.
Neighborhood and Commute Time are Crucial: Location was a key consideration, with 54% of buyers citing commute time as “very important.” Walkability and school quality were also top priorities. Interestingly, over 64% said they were willing to compromise on their preferred neighborhood.
Buyers are Flexible on Home Size: While overall home size was important, nearly 75% of respondents said they would be willing to purchase a smaller home if needed. This underscores the importance of pricing a home competitively, rather than banking on buyers stretching their budgets.
The insights from this survey highlight several strategies home sellers can employ to attract today’s discerning buyers:
1. Prioritize Move-In Readiness:
Ensure your home is in pristine, well-maintained condition before listing. Consider completing any necessary repairs or updates to maximize its turnkey appeal.
2. Emphasize Functional Spaces: Focus your marketing and staging efforts on showcasing the home’s bedrooms, bathrooms, and other essential living spaces. Downplay less essential rooms or areas that may not be as important to buyers.
3. Highlight Location Advantages: Prominently feature your home’s proximity to major employers, transit hubs, desirable schools, and other amenities that buyers value. This can help offset any perceived drawbacks of the neighborhood.
4. Price Competitively: Rather than aiming for the highest possible price, consider pricing your home at a level that will attract a wider pool of buyers, including those willing to compromise on size. By understanding the priorities and preferences of today’s home buyers, you can position your listing for maximum success in the current market. Leveraging these insights can help you attract serious, qualified buyers and achieve the best possible outcome for your home sale.
