With home prices skyrocketing and inventory in high demand, it’s not surprising that homebuyers have started sacrificing some of their most desired amenities in the name of finding an affordable home.
In the current market, buyers are willing to forego spacious kitchens with stainless steel appliances and two-car garages and are even willing to finding roommates to help pay the rent or mortgage. But even so, despite constricting budgets and an unsympathetic market, some factors still remain essential for even the stingiest buyers.
ValueInsured recently asked buyers about the home attributes they’re least willing to give up, even as they struggle to find homes within their budgets. Check out the top five most-wanted home assets:
- Nicer homes that don’t need upgrades.
With prices as high as they are, homebuyers don’t need extra expenses to tack onto their bills. Thirty-one percent said they want their dream homes fully renovated by the time they move in so they don’t have to shell out for any improvements after the purchase.
- Bigger homes with more rooms or space.
Eighteen percent of buyers still opt for homes with ample living space and bedrooms despite current market conditions. Rural homebuyers in particular are huge fans of the extra space, especially those aged 50 and over.
- Eye-catching outdoor spaces.
Many homebuyers are adamant about their dream homes having plenty of outdoor space. Seventeen percent of homebuyers in general not only want more exterior square footage but attractive outdoor areas, regardless of the cost.
- Homes in popular neighborhoods.
The allure of living in safe, up-and-coming neighborhoods with good schools is also a no-contest demand in homebuyers, with 13 percent refusing to give it up. Millennials in particular refuse to pass on homes near good schools, especially in urban areas.
- Shorter commute times.
Short work commutes are also a high priority for homebuyers, with 10 percent saying they refuse to sacrifice the demand that home be near work.