Interested in placing your home on the Havasu market anytime soon? You may need to make a few tweaks to your property before listing it. Knowing what today’s buyers are looking for helps you sell your home quickly and efficiently. Fixr.com asked hundreds of industry professionals about current market trends among home buyers. Their results could assist you know who today’s home buyers are and what they’re looking for in a property.
Who are Today’s Buyers?
Married couples with children make up the majority of today’s buyers (84%). Married couples without children come in second at 10%. Meanwhile, multi-generational families and single people make up 3% of home buyers each. Of the married couples with children, older millennials (low to mid-30’s), make up the majority while Gen X’ers (38 to 53) comprise the second largest group of home buyers. Nationwide, 50% of today’s buyers earn $200,000 or more per household. However, that differs in Lake Havasu, where the median income is around $47,000 (as of 2017). Almost 3/4 of all buyers purchase their properties via a bank loan.
What Do Buyers Want in a Lake Havasu Home?
Does your property need a bit of updating to compete with other homes on the market. Invest your money where it will do you the most good. Where might that be? The majority of today’s buyers across the nation (35%) want a home between 2500 and 3000 square feet in size. In Lake Havasu, buyers tend to focus on a 1500 to 2000 square foot home.
The efficiency of the HVAC system factors largely into the list of wants for today’s buyers. That’s quite understandable in the Lake Havasu real estate market in particular. Triple digit temperatures mean that our air conditioners work overtime in the summer heat. So, you won’t be surprised to hear that 67% of all buyers want energy-efficient HVAC systems. The dryer (13%) and refrigerator (10%) run a distant second and third in comparison.
Today’s buyers love smart homes. It makes sense that home security systems and smart appliances would be near the top (22%). But, did you know that smart lighting actually tops the list of what buyers want in a home? It’s true. More than one-third (37% to be precise) stated that they wanted to see smart lighting features in their house. Also, 43% request a dedicated home office space, while 24% want a guest room and/or media room.
Finally, as homeowners age, they look for features that make their lives a little easier to get around. For example, something as simple as a grab bar in the bathroom made the top of 37% of the list of disability features buyers want to see. An elevator and levered handles topped 24% of buyers’ lists. If you want to cater your marketing towards the aging in place population, consider installing grab bars and levered handles.
The Lake Havasu real estate market has already begun to heat up. If you’re interested in putting your property on the market, now’s a great time. Contact me when you’re ready to list.