What Ethnic Home Buyers Really Want

Findings from the latest NAHB study on housing preferences, What Home Buyers Really Want: Ethnic Preferences, show there are both similarities and differences in what home buyers of different racial/ethnic backgrounds most want to have in their homes.

Based on an extensive list of more than 120 home and community features that buyers rated as essential, desirable, indifferent, or ‘do not want’, the table below shows the top 10 most wanted features for White, African-American, Hispanic, and Asian buyers.

The four features that are common to all four lists, i.e., they are really wanted by buyers of all racial/ethnic backgrounds:
 A laundry room 
 Energy-star rated appliances
 Energy-star rating for the whole home
 Exterior lighting

Three features that are relatively more important to minority buyers than to White buyers, since they appear on the top 10 list for the minority groups but not for White buyers:
 Living room
 Dining room
 Patio

Two features that make it into White buyers’ top 10 most wanted list, but are ranked lower by the three minority groups:
 Garage storage
 Insulation higher than required by code

When building homes, it is as critical to understand which features home buyers really want, as it is to know which ones they do not want and will probably not pay for.

Interestingly, there are quite a few similarities in what home buyers reject across the different groups: 7 of the 10 most unwanted features are common across the four rejection lists:
An elevator – the single-most unwanted feature across all four groups
 Golf course community – second most unwanted feature across the board
 High density community
 Only a shower stall in the master bath (no tub)
 Gated community (with a monthly fee of $100 to $200)
 Wine cooler
 Wet bar

Plansource, Inc., www.planonline.com, remains a portal of information for homebuilders and the homebuilding industry.

 

Reprinted from Builder Magazine/NAHB

 

 

Most Likely Features on 2014 Homes

Features Most Likely to Show up in Typical Single-family Home in 2014

Knowing what your competition is up to is a must in any industry.  In residential construction, that includes having a clear picture of what other builders are putting in their new homes.  In December 2013, a nationwide survey asked builders about the likelihood that a number of features would be included in the typical single-family home they will build this year.

Based on ratings from 1 to 5, where 1=not at all likely and 5= very likely, builders reported the following as the most likely features to show up in the typical 2014 home:

• Walk-in closet in master bedroom
• Low-e windows
• Laundry room
• Great room

Also likely are a number of energy efficiency features:  Energy-star rated appliances and windows, a programmable thermostat, and insulation higher than required by code.  In the kitchen, a double sink, granite countertops, and a central island are highly likely to make the cut.  A few outdoor features are likely candidates as well: a front porch, outdoor lighting, and a patio.

In contrast, the two least likely features builders will include in their new homes this year are:

• Laminate countertops in the kitchen
• Outdoor kitchen (cooking, refrigeration, & sink)

Two-story spaces (family room and foyer) also seem to be unlikely features, as well as an outdoor fireplace, a sunroom, a media room, and a whirlpool in the master bathroom.

Plansource, Inc., www.plansonline.com, remains a portal of information for homebuilders and the homebuilding industry.

Reprinted from Builder Magazine

Hot Outdoor Design Trends

Outdoor living spaces for entertaining and relaxing will be in high demand during 2014, according to the Residential Landscape Architecture Trends Survey conducted by the American Society of Landscape Architects in January-February 2014. The survey gathered responses from 179 landscape architecture professionals across the country who specialize in residential design, and asked them to rate the expected popularity of outdoor design elements as well as popular features for each. Check out the breakdown:

Plansource, Inc., www.plansonline.com, remains a portal of information for hombuilders and the homebuilding industry.

Reprinted from Builder Magazine