Welcome to the future of home buying in 2024, where home buyer priorities are shifting to focus on blending comfort, functionality, and an eco-friendly touch that tips its hat to the natural world around us. New research reveals that house hunters are willing to accept a smaller property if it includes key amenities. Learn more in this 3-minute article.
New home shoppers are making a surprising trade-off—they’re opting for smaller houses than we’ve seen in over a decade. With the average new house now sizing at just 2,479 square feet, the smallest in 13 years, it’s clear that owning a cozy corner of the world is becoming more of a priority than sprawling square footage. Interestingly, 38% of builders reported building smaller homes in 2023 and early new housing permits indicate the trend will continue.
Today’s buyers crave homes that feel distinctly theirs. People are placing greater value in personalization and authenticity. Realtor Alex Shibley relayed that he’s finding home buyers are looking for better quality, rather than bigger homes. “They want their new house to instantly feel like a home. Uniquely tailored to them and not a cookie-cutter of their neighbors’ homes.”
The NAHB’s survey, “What Home Buyers Really Want,” sheds light on buyers’ preferences. Nearly 40% are okay with a smaller yard if it means getting a home, and 35% would go for a smaller dwelling. When it comes to scaling down, kitchens and closet space are must-haves while buyers are swiping left when it comes to dining rooms and dens.
Beyond the home’s physical features, buyers are keen for specific amenities, valuing elements like laundry rooms, patios as well as Energy Star-rated windows and appliances. And true to the spirit of customization, technology plays a key role in modern homes, from security cameras to energy management systems— innovations aimed at making homes safer and more comfortable.
Another interesting trend is the growing popularity of multi-generational living, with over half of respondents expressing a preference for homes with dual primary bedroom suites.
While builders plan to include high-demand features like laundry rooms, spacious great rooms, and stylish kitchen islands in their 2024 projects, they’re less likely to incorporate less sought-after options like cork flooring or pet washing stations.
So what are the most sought after new home features in 2024?
Sustainability Takes Center Stage
The real estate scene is riding a green wave. Eco-friendly features like energy-saving appliances, solar panels, and materials that do less harm to our planet are moving from nice-to-haves to must-haves. The National Association of Realtors has highlighted a growing appetite for such homes. But it’s not just about eco-conscious living; it’s also about thinner utility bills!
Smart Homes Get Smarter
In our tech-savvy era, homebuyers crave properties that sync up with their digital lives. We’re talking about smart thermostats, high-tech security setups, and lights that dim with a single command. Thanks to platforms like Thumbtack, the surge in smart device installations is tangible. These gadgets promise not just convenience but a safer living environment too.
Luxury Kitchen and Bath Touches
Kitchens and bathrooms hold the throne when it comes to spaces that capture homebuyers’ hearts. The dream? Think large, sumptuous kitchens and bathrooms that rival a spa experience, marrying sleek design with utter functionality.
Home Office Space to Two
With the remote work trend showing no signs of fading, the demand for dedicated home offices is sky-high. Buyers are on the lookout for quiet, well-equipped spots where both bread winners can buckle down and work. It’s no longer a perk—it’s a staple for the modern professionals.
The future of homeownership is shaping up to be not just about having a place to live, but creating a space that reflects personal style and caters to modern needs—proving that sometimes, less really is more.
ABOUT CJ REAL ESTATE: CJ Real Estate is a full-service brokerage helping people across Oklahoma, Arkansas, Missouri and Kansas buy and sell residential, lake, land, ranch and commercial real estate with confidence.
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Ronn Cunningham
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SOURCE: Cunningham-Johnson Real Estate