Monthly Archives: September 2016

There’s a growing number of young Americans who say they want to buy a house sometime in the next few years. In fact, a recent survey found large majorities of people between the ages of 18 and 34 who are planning to buy. That means, there’s going to be growing demand for midsized homes. Specifically, midsized homes with features that millennial buyers want. But what are those? Well, for one, a backyard deck. According to Trulia, 59 percent of millennial home buyers say they want one. An almost equal number of survey respondents said they’d like a balcony with a view. In other words, like most buyers, younger Americans want outdoor spaces that extend their living space and can be used for entertaining family and friends. Similarly, they also prefer an open floor plan and a gourmet kitchen. Kitchens, of course, are always important with buyers of any demographic. However, there is one feature nearly half of all surveyed millennial buyers wanted that is easy to add to your existing home without breaking the bank: A vegetable garden. A renewed interest in simple, healthy lifestyles has made vegetable gardens – or, at the very least, a good spot to start one – a must for 40 percent of younger home buyers. More  here.

No matter where you live, there are likely a number of different architectural styles represented in your area. You may live in a neighborhood of bungalows down the street from a row of old Victorians. Or maybe your neighborhood was built more recently and is dominated by Colonials and Mediterranean-style homes. Everybody has their own personal preference but which style sells for the most? A recent study looked at a number of popular home styles and determined which sells for the highest price and which have increased and decreased in popularity over the past four years. The results show that Mediterranean-style homes have the highest median list price at $749,900. Known for their stucco walls and wrought-iron accents, these homes still garner the highest asking price but have fallen out of favor a bit since their heyday 15-to-20 years ago. In fact, median list price for a Mediterranean-style house has only risen 0.1 percent over the past four years. On the other hand, Modern homes are surging in popularity, with a 37.4 percent jump in median price. The median Modern house now goes for $425,850. The most affordable home style was Victorian at $285,000, while Colonials demanded close to $400,000. The median list price for all styles was $249,900, up from $200,000 in 2012. More here.

Whenever potential home buyers are asked what they most want in a new house, their responses tend to favor utility and function. It seems, when looking for a house to buy, luxury takes a backseat to lower energy bills and more storage space for most buyers. In fact, according to a recent survey of home shoppers, more than 80 percent agreed on a few familiar features they desired above all others. For example, a separate laundry room was named by 92 percent of buyers as a must in their next house. Having a dedicated area for collecting and cleaning laundry was a nearly unanimous choice and popular across all age groups and demographics. Energy efficient appliances and windows were also near the top of the list, as was garage storage space – proving that, more than a gold-trimmed master suite, Americans want lower bills and places to store their stuff. But not all of the most-loved home features were purely utilitarian. In fact, 84 percent of respondents named outdoor living space among their must haves. A nice yard, patio, or deck provides outside space to enjoy and a place to entertain friends and family. Rounding out the list, exterior lighting, an eat-in kitchen, and hardwood floors were all near the top of buyers’ wish lists. More here.