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National Association of REALTORS速

2013 Home Features Survey


National Association of REALTORS®

Profile of Buyer’s Home Feature Preferences 2013

NATIONAL ASSOCIATION OF REALTORS® Research Division March 2013


2013 Profile of Buyer’s Home Feature Preferences Contents Introduction..................................................................................................................... 3 Characteristics of Homes Purchased ............................................................................... 3 Home Buyer’s Search for a Home With Particular Features ............................................. 4 Home Buyer’s Search for a Home With Particular Rooms ................................................ 5 Home Buyer’s Preferred Home Compared to Home Purchased ........................................ 6 Undertook Home Improvement Project Within 3 Months of Home Purchase ................... 6 Methodology ................................................................................................................. 6

List of Exhibits .................................................................................................................. 7 Exhibits ............................................................................................................................ 9

The 2013 National Association of REALTORS® Profile of Buyers' Home Features Preferences

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INTRODUCTION

Buyers have many options when it comes to the type, location, and size of home they are going to purchase. These decisions are influenced by age, household composition, presence of children in the home, and budget. However, even within these specifications, buyers may still have to weigh purchasing a home with new appliances versus buying one with a slightly larger kitchen and older appliances, or a home with an attic versus a home with a basement—among a myriad of other choices. The survey of buyers’ home feature preferences aims to dig deeper into what features and rooms are important to the recent home buyer. For example, whether or not the buyer purchased a home with a specific feature, and if they did not purchase a home with that feature how much more they would be willing to spend for their home to have that feature or room. The survey captures buyers who purchased a home between 2010 and 2012. Once a home purchase is completed, many buyers decide to make the home fit their ideal needs by remodeling. Differences in the types of improvements are evident between those buyers who purchased newer homes versus older homes. The survey and report also take a look at the home improvements that buyers undertook during the first three months of ownership. The information gathered from this survey confirms many of the observations real estate professionals make each day when working with home buyers. More importantly, however, the information gleaned from this survey provides insights into the priorities of home buyers. This information can be used by REALTORS® and other real estate professionals to assist home buyers who are searching for a home, including first-time buyers or buyers transitioning to a new location. The analysis in this report will also help home sellers and real estate professionals evaluate the desirability of various features when marketing a home for sale. CHARACTERISTICS OF HOMES PURCHASED Home buyers vary by age, family composition, household income, region, and numerous other individual characteristics. As buyers differ, their home choices, square footage, age of home, and home feature preferences vary. The typical home recently purchased was 1,860 square feet in size. Repeat buyers, buyers of new homes, married buyers and those with children under the age of 18 in the home typically purchased larger homes. The typical home purchased was built in 1996. First-time home buyers and single female buyers tended to buy older homes, while buyers who purchased in the South and buyers who purchased higher priced homes tended to buy newer homes. The typical buyer bought a home with three bedrooms and two full bathrooms. . About half of homes purchased were on a single level, while two-fifths were on two levels. Seventy-eight percent of home buyers had a garage. Garages were more popular among buyers of new homes, homes in the Midwest, and homes in the suburbs. More than half of homes purchased had a fireplace. Fireplaces were most common in higher priced homes, homes in resort or recreation areas, and in detached single-family homes. Forty-one percent of homes had basements, which could be finished, partially finished or unfinished. Finished basements were more popular among single males, younger home buyers, and buyers in the Northeast and Midwest. The 2013 National Association of REALTORS® Profile of Buyers' Home Features Preferences

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HOME BUYERS SEARCH FOR A HOME WITH PARTICULAR HOME FEATURES Among the 33 home features home buyers were surveyed on, only one home feature was considered very important by more than half of all buyers—central air conditioning. Sixty-five percent of all buyers considered central air conditioning very important. The next most important home feature to recent buyers was a walk-in closet in the master bedroom, which was considered very important by 39 percent of recent buyers. Choosing a home that has cable, satellite TV, and/or is Internet-ready, and has an ensuite master bathroom were close followers at 37 percent and 34 percent, respectively. There were many regional and demographic differences in the most popular features. For example, buyers in the South placed higher importance on central air conditioning, having a home less than five years old, and having a home in a wooded lot with many trees, compared to other regions. Buyers in the Northeast placed higher importance in having hardwood floors than other regions. By age, buyers 55 and older placed a much higher importance on having a single-level home, and a slightly higher importance on having a water view than other age groups. Single females also placed a higher importance on a single-level home, while single males and married couples placed higher importance on having new kitchen appliances. Single males also were more likely to want a home less than 5 years old and to have 9-foot (or greater) or cathedral ceiling. There were vast difference among buyers who have children under 18 in the home and those who do not. For example, 23 percent of those with children considered it very important to buy a home with a single or partially finished basement, compared to just 11 percent of those who did not have children in the home. Not surprisingly, when it came to purchasing a home with the 33 home features, the most popular feature that was in the home was a central air conditioning system. However, this is tied with buyers who purchased a home that was cable, satellite TV, and/or Internet-ready — 94 percent of buyers who considered this at least somewhat important did buy a home with these features. The next most common feature was an eat-in kitchen. Among buyers who found this at least somewhat important to their home purchase, 89 percent did purchase a home with an eat-in kitchen. Buyers were asked if they did not buy a home with a particular feature if that feature has value to them, and then asked how much more they would be willing to spend on a home with this particular feature. The two most common features buyers would be willing to spend more on were air conditioning and new kitchen appliances. Sixty-nine percent of buyers who did not purchase a home with air conditioning would be willing to pay more for a home with this feature. The typical buyer would be willing to pay $2,520 more for a home with air conditioning. Sixty-nine percent of buyers who did not purchase a home with new kitchen appliances would be willing to pay more for a home with this feature. The typical buyer would be willing to pay an additional $1,840 for a home with new kitchen appliances. The features that had the highest dollar value buyers were willing to pay more for were having a waterfront property and having a home that was less than five years old. Thirty-two percent of buyers would be willing to pay more for a home with that was a waterfront property and the typical dollar The 2013 National Association of REALTORSŽ Profile of Buyers' Home Features Preferences

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amount the buyer would pay is $5,420. Forty percent of buyers would be willing to pay more for a home that was less than five years old and the typical dollar amount the buyer would pay is $5,020. HOME BUYERS SEARCH FOR A HOME WITH PARTICULAR ROOMS Home buyers were also asked about the importance they place on 12 different rooms in a home: living room, laundry room, bedroom on main level, dining room, family room/rec room/media room, den/study/home office/library, basement, utility/mud room, attic, sun room, exercise room, and in-law suite. The living room had the most importance among all buyers. As was seen among the individual home features, there are regional, demographic, and house-type differences among buyers’ preferences on different rooms within the home. Repeat buyers placed a higher priority on a bedroom on the main level, as did buyers who purchased a new home. Buyers in the Northeast placed more importance on a home with a dining room. Buyers under 55 most preferred a a home that had a basement compared to other age groups.. Buyers who were aged 35 to 54 placed the highest amount of importance on a laundry room compared to buyers of other age groups. Buyers with children in the home placed a higher importance on finding a home with a family room/rec room/media room and basement than buyers who did not have children, while buyers who did not have children place a higher importance on having a bedroom on the main level compared to buyers with children. When buyers did purchase a home, about nine in ten who found these rooms at least somewhat important did purchase a home with a living room, bedroom on the main level, dining room, laundry room, basement, and an attic. The least common room purchased – even though the feature was at least somewhat important to the buyer—was an in-law suite; only 51 percent of buyers purchased a home with this room. Buyers were asked if they did not buy a home with a particular room if that room has value to them and, if so, how much more they would be willing to spend on a home with this particular room. The two most common rooms buyers would be willing to spend more on were a laundry room and a den/study/home office/library. Sixty-three percent of buyers who did not purchase a home with a laundry room would be willing to pay more for a home with this room. The typical buyer would be willing to pay $1,590 for a home with a laundry room. Forty-four percent of buyers who did not purchase a home with a den/study/home office/library would be willing to pay more for a home with this room. The typical buyer would be willing to pay $1,920 for a home with a den/study/home office/library. The rooms that had the highest dollar value that buyers were willing to pay more for were a basement and an in-law suite. Thirty-three percent of buyers would be willing to pay more for a home with a basement and the typical dollar amount the buyer would pay is $3,200. Twenty percent of buyers would be willing to pay more for a home with an in-law suite with the typical dollar amount the buyer would pay $2,920.

The 2013 National Association of REALTORS® Profile of Buyers' Home Features Preferences

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HOME BUYERS PREFERRED HOME COMPARED WITH HOME PURCHASED Ninety-seven percent of home buyers were satisfied with their recent home purchase. When buyers were asked more details on the satisfaction in their home buying experience, buyers reported an overall level of satisfaction. However, the majority of buyers did want more or larger closets and more storage. Forty-four percent of buyers would prefer a larger kitchen, and 38 percent would prefer a larger home overall. Similarly, 33 percent would prefer a newer home, and 28 percent both would like more bathrooms and more bedrooms. Very few buyers would prefer less storage, closets, a smaller home, smaller kitchen, fewer bedrooms, fewer bathrooms, or an older home. UNDERTOOK HOME IMPROVEMENT PROJECT WITHIN 3 MONTHS OF HOME PURCHASE Fifty-three percent of buyers did undertake a home improvement project within three months of their home purchase. Buyers who purchased older, previously-owned homes were the most likely to undertake a home improvement project. Seventy-three percent of those who purchased a home that was built in 1920 or earlier did make a home improvement soon after buying the home, compared to only 33 percent of those who purchased a home built between 2010 and 2012. The buyer typically spent $4,550 on home improvement projects within the first three months of moving into a home. Buyers who purchased homes that were the newest and the oldest spent the most on home improvement projects—typically more than $5,000, while buyers who purchased homes built between 1921 and 2009 spent the least. Remodeling the kitchen was the most common home improvement project among recent buyers—47 percent of buyers who did undertake a home improvement project remodeled the kitchen. Bathrooms were a close second at 44 percent. Forty-one percent of buyers who made home improvements added or replaced lighting, and 37 percent added or replaced appliances soon after owning the home. METHODOLOGY In October of 2012, a sample of households that had purchased any type of residence real estate during 2010 to 2012 and still owned the property were surveyed. The survey sample was drawn from a representative panel of U.S. households monitored and maintained by an established survey research firm. A total of 2,005 qualified households responded to the survey. Households were sampled to meet age and income quotas representative of all home buyers drawn from the 2011 NAR Profile of Home Buyers and Sellers.

The 2013 National Association of REALTORS® Profile of Buyers' Home Features Preferences

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List of Exhibits

Exhibit 1 Exhibit 2 Exhibit 3 Exhibit 4 Exhibit 5 Exhibit 6 Exhibit 7 Exhibit 8 Exhibit 9 Exhibit 10 Exhibit 11 Exhibit 12 Exhibit 13 Exhibit 14 Exhibit 15 Exhibit 16 Exhibit 17 Exhibit 18 Exhibit 19 Exhibit 20 Exhibit 21 Exhibit 22 Exhibit 23 Exhibit 24 Exhibit 25 Exhibit 26

CHARACTERISTICS OF HOMES PURCHASED CHARACTERISTICS OF HOMES PURCHASED, BY REGION CHARACTERISTICS OF HOMES PURCHASED, BY AGE OF HOME BUYER CHARACTERISTICS OF HOMES PURCHASED, BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOME CHARACTERISTICS OF HOMES PURCHASED, BY TYPE OF HOME CHARACTERISTICS OF HOMES PURCHASED, BY FINAL PURCHASE PRICE OF HOME CHARACTERISTICS OF HOMES PURCHASED, BY LOCATION OF HOME PURCHASED HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT" HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY REGION HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY AGE HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOME HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY TYPE OF HOME HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY FINAL PURCHASE PRICE OF HOME HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY LOCATION OF HOME PURCHASED HOME BUYERS THAT PURCHASED HOME WITH DESIRED FEATURES HOME BUYERS THAT PURCHASED HOME WITH DESIRED FEATURES, BY AGE HOME BUYERS THAT PURCHASED HOME WITH DESIRED FEATURES, BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOME HOME BUYERS THAT PURCHASED HOME WITH DESIRED FEATURES, BY TYPE OF HOME HOME BUYERS WILLING TO PAY MORE FOR DESIRED FEATURES HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT" HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY REGION HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY AGE HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOME HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY TYPE OF HOME HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY FINAL PURCHASE PRICE OF HOME HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY LOCATION OF HOME

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


Exhibit 27 Exhibit 28 Exhibit 29 Exhibit 30 Exhibit 31 Exhibit 32 Exhibit 33 Exhibit 34 Exhibit 35 Exhibit 36 Exhibit 37 Exhibit 38 Exhibit 39 Exhibit 40

HOME BUYERS THAT PURCHASED HOME WITH DESIRED ROOMS HOME BUYERS THAT PURCHASED HOME WITH DESIRED ROOMS BY AGE HOME BUYERS THAT PURCHASED HOME WITH DESIRED ROOMS BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOME HOME BUYERS THAT PURCHASED HOME WITH DESIRED ROOMS BY TYPE OF HOME HOME BUYERS WILLING TO PAY MORE FOR DESIRED ROOMS HOME BUYERS PREFERRED HOME COMPARED WITH HOME PURCHASED HOME BUYERS PREFERRED HOME COMPARED WITH HOME PURCHASED, BY ADULT HOUSEHOLD COMPOSITION AND CHILDREN IN HOME HOME BUYERS PREFERRED HOME COMPARED WITH HOME PURCHASED, BY AGE OF HOME BUYER SATISFACTION WITH HOME PURCHASE UNDERTOOK HOME IMPROVEMENT PROJECT WITHIN 3 MONTHS OF HOME PURCHASE UNDERTOOK HOME IMPROVEMENT PROJECT WITHIN 3 MONTHS OF HOME PURCHASE, BY YEAR HOME WAS BUILT AMOUNT SPENT ON HOME IMPROVEMENT PROJECTS AMOUNT SPENT ON HOME IMPROVEMENT PROJECTS, BY YEAR HOME WAS BUILT AREAS OF HOME WORKED ON WITHIN 3 MONTHS OF HOME PURCHASE

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 1 CHARACTERISTICS OF HOMES PURCHASED (Medians, except percentages)

Size of home (sq ft) Year home was built Number of levels One Two Three or more Number of bedrooms One Two Three Four Five or more Number of full bathrooms One Two Three or more Number of half bathrooms None One Two or more Number of fireplaces None One Two Three or more Garage Basement Finished Partially finished Unfinished Previously owned

Buyers Of Previously Owned Homes

All Buyers

First-time Buyers

Repeat Buyers

New Homes

1,860 1996

1,745 1990

2,000 1998

2,200 2010

1,800 1986

51% 41 8

47% 45 8

54% 38 8

44% 49 7

54% 38 8

3% 17 47 26 8

3% 17 49 24 7

2% 17 45 25 9

3% 11 43 31 12

3% 19 48 24 7

21% 59 20

29% 57 14

15% 61 24

9% 61 30

25% 59 16

55% 40 5

52% 43 5

57% 38 4

42% 48 10

59% 38 3

42% 47 9 2 78%

46% 45 8 1 75%

40% 49 9 2 80%

37% 47 13 4 85%

44% 47 8 1 76%

19% 10 12 75%

21% 12 13 75%

17% 9 11 75%

24% 8 10 0%

17% 11 13 100%

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 2 CHARACTERISTICS OF HOMES PURCHASED, BY REGION (Medians, except percentages)

Size of home (sq ft) Year home was built Number of levels One Two Three or more Number of bedrooms One Two Three Four Five or more Number of full bathrooms One Two Three or more Number of half bathrooms None One Two or more Number of fireplaces None One Two Three or more Garage Basement Finished Partially finished Unfinished Previously owned

Northeast 1,850 1985

Region Midwest 1,800 1985

South 2,000 2002

West 1,800 1994

25% 59 16

49% 42 10

59% 36 4

60% 35 6

4% 19 42 27 8

2% 17 51 23 7

2% 15 47 28 8

3% 18 45 25 8

32% 54 15

33% 51 84

13% 63 14

16% 65 19

44% 51 5

52% 41 7

59% 37 4

58% 38 4

43% 46 9 2 75%

45% 45 9 1 85%

43% 47 8 2 73%

40% 49 10 2 82%

33% 16 28 75%

29% 22 24 81%

12% 5 4 70%

11% 5 4 78%

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 3 CHARACTERISTICS OF HOMES PURCHASED, BY AGE OF HOME BUYER (Medians, except percentages)

Age of Home Buyer Size of home (sq ft) Year home was built Number of levels One Two Three or more Number of bedrooms One Two Three Four Five or more Number of full bathrooms One Two Three or more Number of half bathrooms None One Two or more Number of fireplaces None One Two Three or more Garage Basement Finished Partially finished Unfinished Previously owned

Under 35

35-54

55 or older

1,820 1998

2,000 1996

1,750 1995

43% 49 8

45% 45 10

68% 27 5

3% 14 48 28 8

2% 14 42 31 11

4% 24 51 16 5

22% 61 17

22% 54 24

19% 63 18

50% 44 6

48% 47 5

69% 28 3

41% 49 8 2 81%

40% 48 10 2 80%

48% 44 8 1 73%

22% 12 15 74%

21% 12 12 73%

12% 8 9 78%

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 4 CHARACTERISTICS OF HOMES PURCHASED, BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOME (Medians, except percentages)

Size of home (sq ft) Year home was built Number of levels One Two Three or more Number of bedrooms One Two Three Four Five or more Number of full bathrooms One Two Three or more Number of half bathrooms None One Two or more Number of fireplaces None One Two Three or more Garage Basement Finished Partially finished Unfinished Previously owned

Single Male 1,600 1996

Adult Composition of Household Single Married Unmarried Female Couple Couple Other 1,460 2,000 1,800 2,000 1986 1999 1987 1989

Children in Home Children under No children 18 in home in home 2,100 1,700 1998 1993

52% 41 7

64% 31 5

48% 42 9

55% 41 4

52% 42 6

40% 49 10

60% 34 6

10% 26 40 19 6

8% 30 47 12 3

2% 13 46 30 9

2% 22 52 18 7

2% 23 46 23 8

1% 8 42 36 14

4% 25 50 18 3

33% 50 17

34% 55 11

16% 61 22

30% 52 19

23% 62 15

17% 60 23

25% 59 16

60% 36 5

62% 34 5

53% 42 5

58% 39 4

63% 33 2

45% 49 6

63% 34 4

50% 41 8 2 70%

59% 37 3 0 65%

38% 50 10 2 82%

46% 42 12 1 70%

49% 47 5 0 74%

35% 52 11 2 83%

48% 43 7 1 74%

26% 14 10 68%

16% 9 8 83%

19% 10 13 73%

14% 15 12 82%

14% 14 15 73%

24% 11 13 73%

14% 10 12 77%

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 5 CHARACTERISTICS OF HOMES PURCHASED, BY TYPE OF HOME (Medians, except percentages)

Type of Home

Size of home (sq ft) Year home was built Number of levels One Two Three or more Number of bedrooms One Two Three Four Five or more Number of full bathrooms One Two Three or more Number of half bathrooms None One Two or more Number of fireplaces None One Two Three or more Garage Basement Finished Partially finished Unfinished Previously owned

Detached single-family home 2,000 1996

Apartment/condo building with 5 or more units 1,200 1990

Townhouse or row house 1,720 1999

Duplex-apartment condo in 2-4 unit structure 1,400 2000

Other 1,200 1995

50% 43 8

76% 20 4

24% 55 21

62% 29 9

91% 9 0

1% 11 49 30 9

19% 58 20 3 0

4% 37 46 10 2

8% 39 35 12 6

7% 42 44 3 3

20% 58 22

31% 68 1

20% 60 20

22% 63 15

39% 61 0

54% 41 5

64% 31 5

29% 65 6

79% 19 3

86% 12 2

38% 50 10 2 84%

67% 30 2 1 45%

47% 46 5 2 74%

57% 39 5 0 60%

83% 15 2 0 7%

20% 11 13 75%

6% 7 4 71%

24% 11 7 73%

11% 8 14 79%

2% 2 0 76%

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 6 CHARACTERISTICS OF HOMES PURCHASED, BY FINAL PURCHASE PRICE OF HOME (Medians, except percentages)

Final Purchase Price of Home $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 Less than to to to to to to to $500,000 $100,000 $149,999 $199,999 $249,999 $299,999 $349,999 $399,999 $499,999 or more Size of home (sq ft) Year home was built Number of levels One Two Three or more Number of bedrooms One Two Three Four Five or more Number of full bathrooms One Two Three or more Number of half bathrooms None One Two or more Number of fireplaces None One Two Three or more Garage Basement Finished Partially finished Unfinished Previously owned

1,380 1982

1,660 1991

1,870 1997

2,020 2000

2,300 2001

2,500 2003

2,600 2003

2,730 2001

3,200 2002

71% 25 4

61% 31 8

53% 42 5

45% 48 7

34% 56 11

29% 59 12

32% 56 12

33% 48 19

29% 52 19

6% 28 49 14 3

2% 17 61 17 4

2% 14 53 28 3

2% 15 46 30 7

2% 12 36 38 13

1% 7 33 43 16

1% 8 39 40 13

2% 11 33 40 14

1% 9 30 31 29

42% 52 6

22% 72 6

16% 69 15

13% 67 20

12% 57 31

8% 53 39

9% 47 44

14% 44 42

4% 45 51

73% 24 3

66% 32 2

60% 37 3

47% 46 7

46% 51 4

33% 62 5

34% 59 6

30% 61 9

28% 57 15

69% 27 4 1 54%

51% 45 4 0 75%

38% 54 8 0 87%

31% 58 10 1 91%

36% 52 11 1 89%

19% 70 9 2 92%

20% 67 9 4 89%

24% 48 23 6 93%

13% 49 28 10 89%

12 10 12 86%

13 8 13 84%

17 13 10 74%

19 11 15 76%

20 10 15 63%

28 9 12 66%

24 14 18 62%

28 14 10 59%

39 9 6 54%

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 7 CHARACTERISTICS OF HOMES PURCHASED, BY LOCATION OF HOME PURCHASED (Medians, except percentages)

Size of home (sq ft) Year home was built Number of levels One Two Three or more Number of bedrooms One Two Three Four Five or more Number of full bathrooms One Two Three or more Number of half bathrooms None One Two or more Number of fireplaces None One Two Three or more Garage Basement Finished Partially finished Unfinished Previously owned

Location of Home Purchased Urban-Central Suburbcity Subdivision 1,670 2,000 1989 1999

Small town 1,700 1986

Rural area 1,800 1997

57% 35 8

63% 33 4

51% 38 11

46% 47 8

47% 39 14

3% 19 53 22 5

3% 16 52 23 7

7% 26 41 20 7

1% 12 45 31 10

6% 35 31 20 8

32% 56 13

26% 58 16

29% 58 13

13% 62 25

16% 51 33

62% 36 3

65% 33 3

48% 43 9

51% 44 5

61% 33 6

50% 43 7 1 73%

52% 39 8 2 63%

46% 41 11 2 72%

36% 53 9 2 88%

29% 55 10 6 63%

18% 10 19 85%

1% 9 12 71%

21% 13 10 70%

20% 10 10 74%

16% 4 14 63%

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

Resort-Recreation area 1,800 2002


CHARACTERISTICS OF HOME PURCHASED Exhibit 8 HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT" (Percent of Respondents)

First-time All buyers buyers Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old 9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system Interior Design Features Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

Repeat buyers

New homes

Buyers Of Previously owned homes

24% 16 16 13 13 9 9 7 6 5 3

17% 18 14 14 13 10 10 9 6 6 5

29% 15 17 13 14 9 7 6 5 5 2

28% 21 47 29 25 20 18 16 11 14 4

23% 15 5 8 9 5 6 4 4 2 3

65% 37 18 17 14

58% 37 22 20 16

70% 37 15 14 13

75% 57 31 30 26

61% 31 14 12 10

39% 34 29 24 24 20 19 17 9 5

36% 27 28 23 25 19 19 18 9 6

41% 39 30 25 23 21 19 17 9 4

63% 51 61 36 37 40 38 36 20 12

31% 28 19 20 19 14 13 11 5 3

17% 12 8 5 5 5 3

16% 15 6 4 7 6 3

18% 11 9 6 4 5 2

25% 19 15 9 11 10 6

15% 10 6 4 3 4 1

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 9 HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY REGION (Percent of Respondents)

Northeast Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old 9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system Interior Design Features Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

Region Midwest South

West

16% 27 13 15 16 11 11 10 5 8 3

20% 28 13 10 12 6 6 6 5 3 5

28% 11 21 16 13 10 11 7 6 6 3

26% 8 12 11 12 9 5 6 6 5 3

48% 39 19 21 14

66% 33 13 12 9

79% 42 22 19 19

52% 32 16 14 12

33% 29 32 30 31 21 21 19 8 7

28% 25 22 21 22 15 15 13 8 5

49% 42 36 27 25 24 22 20 11 5

36% 32 25 17 17 17 16 15 7 3

16% 14 7 6 4 4 3

17% 10 7 5 5 4 2

20% 14 10 7 7 7 3

13% 12 6 3 5 5 2

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 10 HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY AGE (Percent of Respondents)

Age of Home Buyer Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old 9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system Interior Design Features Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

Under 35

35-54

55 or older

11% 19 14 13 11 8 9 7 4 5 4

21% 19 17 15 15 12 11 10 6 8 4

42% 10 16 12 13 7 5 5 7 3 2

62% 35 21 18 12

65% 38 19 19 17

67% 38 13 13 12

35% 30 28 21 25 18 19 16 9 6

44% 37 33 30 28 24 24 23 11 7

36% 34 26 20 17 18 13 11 6 2

15% 12 5 4 5 6 2

19% 15 8 6 7 6 3

17% 9 11 6 4 4 4

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 11 HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOME (Percent of Respondents)

Adult Compostition of Household Single Single Married Unmarried Male Female Couple Couple Other

Children in Home Children under No children 18 in home in home

Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old

18% 16 21

31% 13 11

24% 17 17

16% 15 10

33% 15 9

15% 23 16

32% 11 15

9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows

21 10 11 13 12

8 8 8 7 5

14 14 10 9 8

10 16 4 9 3

8 8 6 3 6

15 16 12 11 10

12 11 7 7 5

Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system Interior Design Features Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

10 9 2

9 4 3

4 6 4

6 3 3

12 5

6 7 4

6 4 2

56% 41 22 18 16

59% 38 13 13 14

67% 38 18 17 15

58% 30 20 18 9

59% 33 20 11 11

64% 38 22 21 16

65% 37 15 14 13

38% 25 32 22 23 24 19 18 12 10

29% 25 21 21 20 11 8 10 6 4

42% 37 31 26 24 22 21 19 10 5

35% 29 24 19 25 14 17 14 5 3

24% 21 26 20 23 18 11 9 2 2

41% 36 32 30 27 24 24 22 12 7

37% 33 27 19 21 18 15 14 7 3

20% 12 13 8 8 4 5

12% 8 6 4 5 4 2

18% 14 8 6 6 6 3

15% 11 7 3 2 2 0

9% 9 2 3 0 3 0

19% 14 8 5 6 7 2

16% 11 8 5 5 4 3

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 12 HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY TYPE OF HOME (Percent of Respondents)

Detached single-family home Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old 9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system Interior Design Features Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

Type of Home Apartment/condo Townhouse Duplex-apartment building with 5 or or row condo in 2-4 unit more units house structure Other

23% 18 16 14 14 10 9 8 5 6 3

25% 4 11 16 6 7 5 6 5 3 3

10% 18 17 11 9 5 7 7 1 4 5

37% 12 19 14 6 11 5 9 11 2 5

49% 2 17 3 7 7 2 2 12 2 0

65% 37 18 17 14

63% 50 18 16 17

61% 39 18 19 19

65% 37 23 22 12

59% 32 12 17 5

39% 35 30 25 25 20 20 18 9 5

40% 30 26 19 17 22 11 17 11 3

40% 32 35 20 21 26 16 20 7 5

31% 29 22 22 20 17 14 11 3 3

32% 24 17 15 9 7 7 3 3 0

18% 12 7 5 5 6 3

11% 18 19 11 6 4 5

11% 13 7 4 9 6 2

20% 11 8 6 3 6 5

17% 5 5 2 2 5 0

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 13 HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY FINAL PURCHASE PRICE OF HOME (Percent of Respondents)

Final Purchase Price of Home $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 Less than to to to to to to to $500,000 $100,000 $149,999 $199,999 $249,999 $299,999 $349,999 $399,999 $499,999 or more Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old 9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows

31% 11 10 9 7 7 6 5

23% 13 11 8 5 4 4 3

24% 16 16 9 14 6 9 5

17% 10 11 10 14 4 7 4

22% 21 22 16 16 11 12 9

23% 20 23 22 17 16 10 13

19% 29 29 27 26 17 13 14

22% 25 26 21 24 14 10 13

20% 31 23 32 28 27 20 21

7 4 3

4 2 2

4 3 5

5 3 5

5 7 1

6 7 1

5 7 5

7 13 5

10 20 4

57%

69%

69%

66%

69%

68%

69%

58%

63%

29 16 14 10

35 17 14 10

39 17 15 13

30 15 13 10

44 19 19 15

40 16 17 18

50 21 21 17

47 18 22 22

56 31 38 35

Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar

26% 21 20 18 15 11 11 9 7 4

31% 26 22 18 17 8 10 9 3 2

42% 37 33 20 19 20 14 16 8 4

40% 32 25 19 21 19 15 14 4 1

47% 38 36 30 29 27 22 26 9 4

51% 48 35 36 32 28 30 21 9 5

58% 60 52 44 46 45 45 41 21 9

49% 41 41 31 38 36 28 27 18 10

56% 56 45 42 49 46 44 38 26 19

Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

15% 12 7 5 5 5 2

14% 9 4 3 4 2 2

18% 10 8 6 5 4 3

16% 13 4 2 5 4 1

15% 9 7 4 6 5 3

19% 15 9 5 7 9 4

22% 16 10 10 7 8 7

13% 15 9 5 2 10 3

31% 24 23 15 12 13 4

Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system Interior Design Features

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 14 HOME SEARCHERS WHO THOUGHT FINDING HOME WITH PARTICULAR FEATURE WAS "VERY IMPORTANT", BY LOCATION OF HOME PURCHASED (Percent of Respondents)

Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old 9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system Interior Design Features Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

Location of Home Purchased Urban-Central Suburbcity Subdivision

Small town

Rural area

24% 16 9 11 9 6 7 4 4 4 4

25% 13 17 12 15 8 9 4 6 3 2

23% 16 16 18 13 14 11 13 10 11 6

24% 18 17 13 14 9 8 7 4 4 3

20% 10 31 20 18 16 6 12 18 10 2

55% 14 30 13 7

57% 19 32 21 11

59% 24 40 21 24

73% 17 40 15 14

65% 14 47 14 20

29% 23 23 19 21 14 11 11 5 2

39% 32 26 24 20 15 20 12 7 4

35% 30 32 26 30 25 21 24 14 11

44% 40 32 26 24 23 21 19 9 4

43% 49 39 27 18 20 25 20 16 14

16% 9 6 5 3 4 2

30% 15 7 5 4 4 2

15% 19 10 7 11 7 4

14% 11 6 4 4 6 2

22% 8 43 33 6 6 8

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

ResortRecreation area


CHARACTERISTICS OF HOME PURCHASED Exhibit 15 HOME BUYERS THAT PURCHASED HOME WITH DESIRED FEATURES (Percent of Respondents Among Buyers Who Thought Feature Was Somewhat or Very Important)

Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old 9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system Interior Design Features Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

Buyers Of New Previously owned homes homes

All buyers

First-time buyers

Repeat buyers

87% 77 77 86 88 66 73 70 55 68 41

84% 76 73 81 80 63 66 65 47 61 36

88% 77 80 90 94 68 79 75 62 76 52

83% 75 93 91 91 73 75 76 58 76 34

88% 77 49 83 86 60 71 64 53 61 45

94% 94 70 67 71

91% 91 69 68 66

96% 97 72 66 76

95% 92 78 77 75

94% 95 66 62 69

86% 84 76 89 82 75 75 73 59 64

82% 77 74 85 79 70 68 66 49 55

89% 88 77 90 85 79 79 79 68 74

92% 88 92 89 84 88 85 84 68 73

83% 83 65 87 81 67 68 64 51 54

73% 83 59 50 58 62 63

66% 80 45 42 50 57 53

79% 86 70 57 68 67 72

74% 83 64 51 57 66 65

73% 84 55 48 59 60 62

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 16 HOME BUYERS THAT PURCHASED HOME WITH DESIRED FEATURES, BY AGE (Percent of Respondents Among Buyers Who Thought Feature Was Somewhat or Very Important)

Age of Home Buyer Under 35 35-54 55 or older Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old 9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system Interior Design Features Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

81% 74 73 81 81 60 66 64 43 56 44

84% 80 77 88 88 66 75 68 53 70 36

91% 74 81 90 96 73 80 85 66 87 44

91% 91 71 66 63

94% 96 73 67 73

97% 97 65 70 78

81% 79 76 84 80 72 69 67 51 52

87% 85 75 88 84 77 78 78 64 69

91% 90 75 92 83 76 75 73 62 81

64% 78 50 46 50 59 47

76% 83 54 49 56 59 58

79% 91 73 56 76 74 89

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 17 HOME BUYERS THAT PURCHASED HOME WITH DESIRED FEATURES, BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOME (Percent of Respondents Among Buyers Who Thought Feature Was Somewhat or Very Important)

Adult Compostition of Household

Children in Home

Single Male

Single Female

Married Couple

Unmarried Couple

Other

89% 74 67 75 76 56 52 65

89% 78 74 84 77 67 76 70

86% 76 79 88 90 68 74 71

89% 78 74 85 93 65 80 66

87% 87 73 71 87 39 71 50

78% 77 76 84 89 63 72 70

91% 76 77 89 87 69 74 69

59 63 33

72 54 33

51 67 44

50 92 45

50 67 0

50 68 38

59 68 46

Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system

92% 90 75 67 70

93% 94 59 62 69

94% 94 71 66 72

94% 98 80 81 72

92% 100 48 50 68

93% 94 71 68 71

95% 95 70 66 72

Interior Design Features Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar

75% 71 73 78 76 63 73 63 46 58

82% 79 74 83 80 64 57 57 47 56

88% 86 76 89 83 78 77 75 62 65

84% 82 73 88 79 69 70 76 57 61

89% 84 81 92 90 77 57 93 33 75

87% 84 74 86 82 77 74 72 62 64

86% 84 77 89 82 73 75 73 54 63

Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

75% 65 42 43 59 48 57

75% 77 62 46 63 45 43

74% 86 60 51 57 66 67

72% 91 69 55 63 62 71

53% 74 0 25 50 33 0

71% 82 54 48 54 64 54

76% 85 63 52 63 61 72

Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old 9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

Children under No children 18 in home in home


CHARACTERISTICS OF HOME PURCHASED Exhibit 18 HOME BUYERS THAT PURCHASED HOME WITH DESIRED FEATURES, BY TYPE OF HOME (Percent of Respondents Among Buyers Who Thought Feature Was Somewhat or Very Important)

Type of Home Detached Apartment/condo Townhouse Duplex-apartment single-family building with 5 or or row condo in 2-4 unit home more units house structure Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old 9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system Interior Design Features Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

Other

86% 77 77 88 88 65 74 70

92% 50 76 72 71 71 42 54

78% 86 70 84 90 68 84 70

85% 57 95 94 100 89 71 60

92% 67 56 60 83 40 50 100

53 68 44

69 54 50

46 71 8

62 70 33

80 75 0

94% 94 70 68 71

92% 98 71 62 68

97% 95 68 68 78

92% 93 80 65 79

96% 94 69 58 40

86% 85 74 89 84 75 77 73 59 65

86% 83 75 83 77 82 75 68 56 42

86% 80 90 77 71 77 74 75 63 62

83% 86 73 73 84 71 60 92 67 80

87% 81 57 88 46 50 69 14 50 0

75% 83 54 51 59 62 63

56% 78 74 42 61 47 67

64% 89 72 50 58 73 57

77% 89 80 44 55 71 63

93% 90 78 50 33 71 100

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 19 HOME BUYERS WILLING TO PAY MORE FOR DESIRED FEATURES (Percent of Respondents Among Buyers Who Bought Home Without Feature)

Percent willing to pay Median amount willing to more pay for feature Structural Characteristics Single level home Fully or partially finished basement Home less than 5 years old 9-foot (or greater)/cathedral ceilings One or more fireplaces Extra-wide doorways Usable/easily accessible attic Bay windows Handicap accessible (ramp, no steps, etc.) Skylights Home more than 100 years old Systems Central air conditioning Cable/Satellite TV-ready/Internet Air filtration system Water treatment/filtration system Monitored security system Interior Design Features Walk-in closet in master bedroom Ensuite master bath New kitchen appliances Eat-in kitchen Hardwood floors Granite countertops Kitchen island Stainless steel appliances Whirlpool bath Wet/dry bar Neighborhood Features Wooded lot/many trees Open lot/few trees Water view Waterfront property Corner lot Cul-de-sac lot On or near golf course

22% 39% 40% 24% 40% 22% 30% 25% 15% 27% 9%

$3,670 $3,880 $5,020 $1,670 $1,400 $1,300 $1,520 $1,280 $1,550 $1,280 $4,140

69% 35% 38% 39% 37%

$2,520 $1,260 $1,350 $1,280 $1,260

60% 49% 69% 40% 54% 55% 48% 41% 38% 19%

$1,350 $2,030 $1,840 $1,770 $2,080 $1,620 $1,370 $1,850 $1,390 $1,420

29% 16% 32% 32% 20% 23% 12%

$1,720 $1,630 $3,860 $5,420 $2,490 $2,330 $3,710

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 20 HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT" (Percent of Respondents)

Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

All buyers 55% 47 41 39 35 26 23 16 14 7 4 4

First-time buyers 56% 45 30 42 35 24 24 15 15 6 6 5

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

Repeat buyers 54% 49 49 38 35 28 21 16 13 7 3 3

Buyers Of New Previously homes owned homes 58% 54% 59 43 49 39 47 37 47 30 39 22 24 22 28 11 21 11 13 5 11 2 8 3


CHARACTERISTICS OF HOME PURCHASED Exhibit 21 HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY REGION (Percent of Respondents)

Northeast Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

60% 42 31 48 39 30 40 14 18 8 4 4

Region Midwest South 57% 47 39 34 35 20 45 14 14 6 3 2

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

54% 52 49 42 36 30 12 21 17 9 5 5

West 50% 44 38 34 30 22 9 10 5 4 3 3


CHARACTERISTICS OF HOME PURCHASED Exhibit 22 HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY AGE (Percent of Respondents)

Age of Home Buyer Under 35 35-54 55 or older Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

58% 46 25 43 40 21 25 14 14 5 4 4

56% 51 39 42 38 29 26 16 15 7 6 5

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

50% 44 63 32 24 27 16 16 12 9 2 2


CHARACTERISTICS OF HOME PURCHASED Exhibit 23 HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOME (Percent of Respondents)

Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

Single Male 50% 34 34 35 22 28 18 16 14 12 9 6

Adult Compostition of Household Single Married Unmarried Female Couple Couple 58% 55% 55% 40 51 45 47 41 34 30 41 39 22 39 29 19 28 21 15 24 25 12 17 12 8 15 13 7 7 3 3 4 4 3 4 2

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

Other 58% 36 56 39 26 23 21 14 11 2 6 8

Children in Home Children under No children 18 in home in home 60% 51% 51 44 32 49 46 34 44 27 28 24 29 17 17 14 15 13 7 7 5 4 6 3


CHARACTERISTICS OF HOME PURCHASED Exhibit 24 HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY TYPE OF HOME (Percent of Respondents)

Type of Home Detached single-family home Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

55% 50 41 41 38 28 25 17 16 7 4 4

Apartment/condo Duplex-apartment building with 5 or Townhouse condo in 2-4 unit more units or row house structure 61% 32 44 35 19 17 5 5 4 5 5 3

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

47% 41 29 30 27 16 15 7 7 3 2 2

46% 35 51 32 17 15 15 6 11 9 8 2

Other 54% 39 59 24 3 10 2 15 0 3 0 0


CHARACTERISTICS OF HOME PURCHASED Exhibit 25 HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY FINAL PURCHASE PRICE OF HOME (Percent of Respondents)

Final Purchase Price of Home $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 Less than to to to to to to to $500,000 $100,000 $149,999 $199,999 $249,999 $299,999 $349,999 $399,999 $499,999 or more Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

52% 38 43 31 20 18 14 13 9 6 3 3

56% 47 42 31 28 16 18 14 14 3 2 2

56% 50 45 42 37 23 22 15 16 5 4 3

47% 45 33 38 38 26 24 9 14 4 3 5

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

57% 49 45 46 40 35 32 17 15 7 5 4

54% 58 40 44 48 37 27 23 15 9 9 8

62% 66 39 51 49 45 34 23 14 16 7 5

52% 50 38 46 48 36 31 22 17 7 5 6

67% 54 40 61 57 48 35 23 23 19 10 8


CHARACTERISTICS OF HOME PURCHASED Exhibit 26 HOME BUYERS WHO THOUGHT FINDING HOME WITH PARTICULAR ROOMS WAS "VERY IMPORTANT", BY LOCATION OF HOME (Percent of Respondents)

Small town Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

53% 41 39 34 30 21 24 14 14 6 2 3

Location of Home Purchased Urban-Central SuburbResort-Recreation Rural area city Subdivision area 53% 48 48 38 32 27 19 23 11 8 3 2

58% 41 38 41 30 24 21 13 14 9 9 7

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

55% 52 42 42 40 29 25 14 15 6 3 4

45% 45 43 31 31 27 10 22 8 16 10 2


CHARACTERISTICS OF HOME PURCHASED Exhibit 27 HOME BUYERS THAT PURCHASED HOME WITH DESIRED ROOMS (Percent of Respondents Among Buyers Who Thought Feature Was Somewhat or Very Important)

Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

All buyers

First-time buyers

Repeat buyers

97% 89 93 92 81 72 89 67 89 58 57 51

96% 87 90 87 76 66 87 61 83 50 57 50

97% 91 94 95 86 76 90 71 93 65 58 51

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

Buyers Of New Previously homes owned homes 95% 93 90 93 85 82 96 72 97 63 63 63

97% 88 94 91 80 68 90 65 90 55 52 42


CHARACTERISTICS OF HOME PURCHASED Exhibit 28 HOME BUYERS THAT PURCHASED HOME WITH DESIRED ROOMS BY AGE (Percent of Respondents Among Buyers Who Thought Feature Was Somewhat or Very Important)

Age of Home Buyer Under 35 35-54 55 or older Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

95% 87 88 88 80 64 88 64 83 45 52 45

97% 90 92 91 83 75 89 67 89 60 62 55

99% 91 96 96 81 77 89 71 96 67 55 53

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 29 HOME BUYERS THAT PURCHASED HOME WITH DESIRED ROOMS BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOME (Percent of Respondents Among Buyers Who Thought Feature Was Somewhat or Very Important)

Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

Single Male 92% 78 86 84 71 65 85 65 76 47 52 48

Adult Compostition of Household Single Married Unmarried Female Couple Couple 97% 96% 97% 85 91 87 93 83 96 93 92 89 71 83 80 66 74 72 89 89 83 54 70 62 91 90 87 47 61 54 68 55 71 57 50 31

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

Other 98% 89 88 93 86 59 95 65 86 71 83 88

Children in Home Children under No children 18 in home in home 97% 97% 90 89 89 95 91 92 84 78 68 76 89 88 69 66 88 90 58 58 59 55 53 47


CHARACTERISTICS OF HOME PURCHASED Exhibit 30 HOME BUYERS THAT PURCHASED HOME WITH DESIRED ROOMS BY TYPE OF HOME (Percent of Respondents Among Buyers Who Thought Feature Was Somewhat or Very Important)

Type of Home Detached single-family home Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

Apartment/condo Duplex-apartment building with 5 or Townhouse condo in 2-4 unit more units or row house structure

Other

97% 91 92 92

95% 79 90 97

96% 81 93 90

100% 88 95 95

98% 79 98 77

84 73 90 70 90 58 58 54

61 64 52 39 39 47 61 33

74 68 91 42 81 50 33 30

56 67 88 58 100 67 71 20

45 67 67 63 0 60 100 0

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 31 HOME BUYERS WILLING TO PAY MORE FOR DESIRED ROOMS (Percent of Respondents Among Buyers Who Bought Home Without Room)

Living room Laundry room Bedroom on main level Dining room Family room/rec room/media room Den/study/home office/library Basement Utility/mud room Attic Sun room Exercise room In-law suite

Percent willing to pay more 34% 63% 26% 39% 43% 44% 33% 33% 27% 32% 22% 20%

Median amount willing to pay for feature $1,960 $1,590 $2,560 $1,890 $2,520 $1,920 $3,200 $1,550 $1,690 $2,120 $1,740 $2,920

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 32 HOME BUYERS PREFERRED HOME COMPARED WITH HOME PURCHASED (Percentage Distribution)

Home buyer's preferred home is: Newer Older Neither, satisfied w/ home purchase Home buyer's preferred home is: Larger Smaller Neither, satisfied w/ home purchase Home buyer's preferred home has: More bedrooms Fewer bedrooms Neither, satisfied w/ home purchase Home buyer's preferred home has: More bathrooms Fewer bathrooms Neither, satisfied w/ home purchase Home buyer's preferred home has: More/larger closets Fewer/smaller closets Neither, satisfied w/ home purchase Home buyer's preferred home has: More storage Less storage Neither, satisfied w/ home purchase Home buyer's preferred home has: Larger kitchen Smaller kitchen Neither, satisfied w/ home purchase

Buyers Of New Previously homes owned homes

All buyers

First-time buyers

Repeat buyers

33% 4 63

39% 4 56

28% 3 69

15% 2 83

39% 4 57

38% 4 58

49% 5 47

29% 4 67

33% 5 62

39% 4 57

28% 2 70

37% 2 60

21% 2 77

25% 3 71

29% 2 70

28% 3 69

35% 3 62

23% 2 75

20% 5 75

31% 2 68

52% 2 46

61% 2 36

46% 1 54

49% 3 49

54% 1 46

55% 2 43

61% 2 37

50% 1 49

52% 4 44

56% 1 44

44% 1 55

54% 2 45

37% 1 62

39% 3 59

46% 1 53

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 33 HOME BUYERS PREFERRED HOME COMPARED WITH HOME PURCHASED, BY ADULT HOUSEHOLD COMPOSITION AND CHILDREN IN HOME (Percentage Distribution)

Adult Compostition of Household Single Single Married Unmarried Male Female Couple Couple Other Home buyer's preferred home is: Newer Older Neither, satisfied w/ home purchase Home buyer's preferred home is: Larger Smaller Neither, satisfied w/ home purchase Home buyer's preferred home has: More bedrooms Fewer bedrooms Neither, satisfied w/ home purchase Home buyer's preferred home has: More bathrooms Fewer bathrooms Neither, satisfied w/ home purchase Home buyer's preferred home has: More/larger closets Fewer/smaller closets Neither, satisfied w/ home purchase Home buyer's preferred home has: More storage Less storage Neither, satisfied w/ home purchase Home buyer's preferred home has: Larger kitchen Smaller kitchen Neither, satisfied w/ home purchase

Children in Home Children under No children 18 in home in home

33% 8 59

34% 3 63

33% 4 64

39% 2 59

27% 2 71

36% 4 60

30% 3 67

41% 6 53

37% 5 59

37% 4 59

44% 5 51

41% 2 58

43% 5 52

33% 4 63

28% 5 68

26% 3 71

28% 2 71

31% 2 67

27% 2 71

36% 2 62

22% 2 77

28% 6 66

26% 2 72

27% 3 70

35% 2 63

33% 0 67

32% 3 65

25% 2 73

46% 4 50

53% 1 46

52% 1 47

62% 2 35

53% 0 47

57% 2 41

48% 1 51

52% 4 44

58% 1 41

54% 1 45

57% 3 41

53% 0 47

60% 2 39

51% 1 48

44% 4 52

41% 3 56

44% 1 55

44% 1 55

55% 0 45

50% 2 48

39% 1 60

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 34 HOME BUYERS PREFERRED HOME COMPARED WITH HOME PURCHASED, BY AGE OF HOME BUYER (Percentage Distribution)

Age of Home Buyer Under 35 35-54 55 or older Home buyer's preferred home is: Newer Older Neither, satisfied w/ home purchase Home buyer's preferred home is: Larger Smaller Neither, satisfied w/ home purchase Home buyer's preferred home has: More bedrooms Fewer bedrooms Neither, satisfied w/ home purchase Home buyer's preferred home has: More bathrooms Fewer bathrooms Neither, satisfied w/ home purchase Home buyer's preferred home has: More/larger closets Fewer/smaller closets Neither, satisfied w/ home purchase Home buyer's preferred home has: More storage Less storage Neither, satisfied w/ home purchase Home buyer's preferred home has: Larger kitchen Smaller kitchen Neither, satisfied w/ home purchase

39% 5 57

34% 4 62

25% 2 73

49% 4 47

37% 6 57

26% 3 71

40% 2 58

27% 2 71

16% 2 82

37% 3 60

28% 3 69

18% 2 80

60% 3 37

53% 1 47

43% 0 56

60% 3 37

54% 1 44

49% 0 51

54% 3 43

43% 1 56

34% 1 65

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 35 SATISFACTION WITH HOME PURCHASE (Percentage Distribution)

All buyers Very satisfied Somewhat satisfied Somewhat dissatisfied Very dissatisfied

63% 34 3 0 SATISFACTION WITH HOME PURCHASE (Percentage Distribution)

Somewhat dissatisfied, 3

Very dissatisfied, 0

Somewhat satisfied, 34

Very satisfied, 63%

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 36 UNDERTOOK HOME IMPROVEMENT PROJECT WITHIN 3 MONTHS OF HOME PURCHASE (Percentage Distribution)

All buyers 53% 47%

Yes No

First-time buyers 52% 48%

Repeat buyers 54% 43%

Buyers Of New Previously owned homes homes 35% 59% 65% 41%

UNDERTOOK HOME IMPROVEMENT PROJECT WITHIN 3 MONTHS OF HOME PURCHASE

80%

(Percentage Distribution) 65% 59%

60% 53%

54%

52% 47%

48% 43%

41%

40% 35%

20%

0% All buyers

First-time buyers

Repeat buyers

Yes

New homes

No

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

Previously owned homes


CHARACTERISTICS OF HOME PURCHASED Exhibit 37 UNDERTOOK HOME IMPROVEMENT PROJECT WITHIN 3 MONTHS OF HOME PURCHASE, BY YEAR HOME WAS BUILT (Percentage Distribution)

1920 or Older

1921 and 1950

73% 27%

59% 41%

Yes No

Year Home was Built 1951 and 1976 and 1991 and 1975 1990 2000 68% 35%

63% 37%

2001 and 2009

2010 and 2012

51% 49%

33% 67%

49% 52%

UNDERTOOK HOME IMPROVEMENT PROJECT WITHIN 3 MONTHS OF HOME PURCHASE, BY AGE OF HOME

100%

(Percentage Distribution)

80% 73%

68%

67% 63%

59%

60%

52% 49%

51%

49%

41% 40%

35%

37% 33%

27% 20%

0% 1920 or Older 1921 and 1950 1951 and 1975 1976 and 1990 1991 and 2000 2001 and 2009 2010 and 2012

Yes

No

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences


CHARACTERISTICS OF HOME PURCHASED Exhibit 38 AMOUNT SPENT ON HOME IMPROVEMENT PROJECTS (Percentage Distribution)

First-time All buyers buyers $1,000 or less $1,001-$5,000 $5,001-$10,000 $10,001-$25,000 $25,001-$50,000 More than $50,000 Median (dollars)

17% 37 21 16 6 3 $4,550

19% 40 21 15 4 2 $4,170

Buyers Of Previously owned homes

Repeat buyers

New homes

16% 35 21 16 8 3 $4,870

13% 34 20 22 10 1 $5,690

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

18% 37 22 15 6 3 $4,410


CHARACTERISTICS OF HOME PURCHASED Exhibit 39 AMOUNT SPENT ON HOME IMPROVEMENT PROJECTS, BY YEAR HOME WAS BUILT (Percentage Distribution)

$1,000 or less $1,001-$5,000 $5,001-$10,000 $10,001-$25,000 $25,001-$50,000 More than $50,000 Median (dollars)

1920 or Older 10% 38 23 15 8 8 $5,560

1921 and 1950 26% 31 21 7 10 5 $4,080

Year Home was Built 1951 and 1976 and 1991 and 1975 1990 2000 15% 18% 15% 39 34 42 24 17 19 15 19 17 4 9 6 4 2 2 $4,570 $4,710 $4,330

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

2001 and 2009 18% 38 23 15 4 2 $4,320

2010 and 2012 18% 32 24 18 8 1 $5,090


CHARACTERISTICS OF HOME PURCHASED Exhibit 40 AREAS OF HOME WORKED ON WITHIN 3 MONTHS OF HOME PURCHASE (Percentage of Respondents)

Kitchen Bathroom(s) Bedroom(s) Living room Family room Basement Garage Home office Attic None of these Lighting Appliances Landscaping Floor coverings Fencing Windows Monitored security system Additional storage Central air conditioning Roof Patio Deck Siding or exterior finishes Porch None of these

All buyers 47% 44 38 31 18 14 13 12 6 1

First-time buyers 49% 45 41 32 19 16 13 11 6 0

Repeat buyers 45% 44 36 30 17 13 13 13 6 2

New homes 28% 29 26 21 19 20 15 14 3 1

41% 37 34 32 14 13 12 10 10 9 9 9 8 6 13

42% 39 35 33 15 16 13 10 9 11 9 8 9 7 12

39% 35 34 31 13 11 11 10 10 8 9 9 7 6 14

30% 22 34 16 12 9 19 16 8 11 13 14 8 11 15

The 2013 National Association of REALTORS速 Profile of Buyers' Home Features Preferences

Buyers Of Previously owned homes 50% 48 40 33 18 13 13 12 7 2 43% 40 34 35 15 14 11 9 10 9 8 8 8 5 12

Home Features  
Home Features  

Buyers preferences for their new home. NAR edition.

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