What features home buyers are willing to pay extra for?

By Melissa Dittmann Tracey, REALTOR(R) Magazine

What are the two most common home features that home shoppers say they’re willing to spend extra for in order to have in a home?

Air conditioning and new kitchen appliances, according to the 2013 Home Features Survey by the National Association of REALTORS(R).

Sixty-nine percent of the buyers surveyed who did not purchase a home with air conditioning said they’d be willing to pay extra for it — on average, an extra $2,250 in order to have it, the survey found.

Home shoppers say having a home with new kitchen appliances is worth paying about $1,840 extra to have a home with it.

Air conditioning and new appliances were the most common responses in what home shoppers said they’d be willing to pay extra for. But some home shoppers showed willingness to pay higher amounts for a home with other features. For example, 42 percent of buyers said they’d be willing to pay an extra $5,020 for a home that was less than five years old. Thirty-two percent of buyers said they’d be willing to pay $5,420 extra for a home that was on the waterfront.

Buyers who did not purchase a home with a laundry room or a den/study/home office said they’d be willing to pay extra to have these: $1,590 and $1,920 extra, respectively.

And buyers said they’d also be willing to pay extra for a home with a basement and an in-law suite. Buyers said they’d be willing to pay an extra $3,200 for a home with a basement, and an average of $2,920 for a home with an in-law suite, according to the survey.

See it at: http://styledstagedsold.blogs.realtor.org/2013/06/17/what-home-buyers-are-willing-to-pay-extra-for/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s