- According to realtor.com, spring buyers are looking for large backyards, updated kitchens and garages, and ranch-style homes.
“What do buyers want?” It’s a simple question with a complicated answer, but realtor.com is making it a bit easier on agents during this red-hot spring buying season by identifying five major trends buyers are pining for.
Large backyards, updated garages and kitchens
There are plenty of home improvement trends, such as shedquarters, man caves, private bars and blended living spaces, but according to realtor.com, buyers are focusing on the essentials of a home — backyards, kitchens and garages.
Eighty percent of buyers said the kitchen is the most important space in a home, followed by the master bedroom (49 percent) and the living room (42 percent).
Baby boomers said they’d rather have an updated garage over an updated living room, and millennials with families tend to prioritize large backyards with plenty of room for children to play.
On the other hand, the least-searched features were guesthouses, mother-in-law suites, solar panels and man caves.
Pass the ‘ranch’
Forty-two percent of realtor.com users searched for a ranch-style home.
Craftsman and colonial style homes nabbed the no. 2 and no. 3 spots with 28 percent of users searching for each of these styles.
Privacy was buyers’ top goal when searching for a home, followed by fulfilling familial needs, stability and financial investments.
Buyers aged 55 to 64 prioritized privacy the most, while shoppers aged 25 to 34 prioritized stability most since they believe homeownership offers future security and direction.
Millennial families grow while older buyers downsize
Millennials cited that marriage or a growing family were the catalysts for them moving from renter to owner status.
Gen Xers, who are more likely to have school-aged children, tended to move so they could be in better school districts.
Meanwhile, older buyers aged 45-plus were looking to downsize and begin preparing for retirement.
Are single-family homes for older buyers?
Younger buyers are shying away from single-family homes as their choice for a starter home, and are favoring townhomes and row houses instead. But, buyers 55-plus are almost exclusively (78 percent) searching for single-family properties.