What do home buyers want now?
Savvy real estate investing pros understand the secret to big money and fast money is serving up more of what home buyers want the most. So how is the American Dream changing and how can those flipping houses cash in on it?
We all know that homeownership still remains crucial to the American Dream and is a top priority for the majority but how is the demand for homes changing due to the recent crises?
Is it tiny studios, small urban condos that allow buyers to walk and save gas or heading out to the country on private ranches for security and self-sustainable living or multigenerational homes which are most in demand today?
According to a report by Inman News and Coldwell Banker based on the most popular homes pinned on Pinterest Americans haven’t lost any of their zeal for grand luxury residences.
According to the research the ‘ultimate home’ would have:
- Twin staircases
- Outdoor living areas with fireplaces
- A large pool
- A spacious master suite with a view
- A Jacuzzi bathtub
- Gourmet kitchen
- Home theatre
- An office
Selling affordability is OK and works for some but emotion and ego are still what drive pulling the trigger when it comes to making an offer on a home.
Just look at the recent NAR home buyer survey in which home buyers listed ‘neighborhood quality’ as their top deciding factor, above affordability, convenience of location or being close to family.
Maybe many still can’t afford this grand vision of their dream home yet but Americans will take risks again and for many buying a home is the only way for them to get back on the ladder and move up.
In the meantime for real estate investors who are working with home buyers who don’t have millions to throw around at the moment consider how some of these features can be incorporated when remodeling homes or how to better target homes for flipping which have these features and will sell faster and for more money.