What home amenities do renters and homebuyers want in 2022?
Brian breaks down a study showcasing the Top 10 Most Desired Home Amenities, and the most undesired real estate amenities as well.
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Brian: Hey, guys. Brian Davis from Spark Rental here. Super glad to be with you today. I am flying solo today. Deni is out of the office for some health stuff. I am actually broadcasting from my Mother’s Home office. Of all places, I’m in Baltimore visiting family. For a bit before heading back to Brazil.
Brian: So, yeah, it’s you know, it’s a casual, casual Tuesday here on the Live off Podcast. Let me know where you guys Are tuning in from. I always love to hear that.
Brian: And with that, we’re going to kick it. Off and keep.
Brian: Today pretty quick and brief. We’re going to go over a study. By the National Association of Homebuilders which asked homebuyers which amenities they rated either. Essential or desirable. Or Undesirable that they did not want at all. And they polled thousands of Homebuyers. Asking about over 200 different Housing amenities.
Brian: And this stuff is super important. Whether you Flip houses, whether You are a landlord. Do the BR method. You need to know what amenities buyers and renters want.
Brian: So, without further ado, we’re going to go through the Top ten most desired amenities and the top ten least Desired.
Brian: The most undesirable amenities that they found in this survey. All right. So top ten amenities that Homebuyers rated as either essential or desirable when buying, looking for a home. Number one was a laundry room, Of all things. 83% of respondents. Rated it as either essential or desirable. Number two Was a ceiling fan or presumably ceiling fans in the bedrooms or ceiling fans and other rooms. But 81% of Respondents said either must have or desirable.
Brian: Number three, exterior lighting. Also, 81% wanted it.
Brian: Number four. A double kitchen sink side by side, kitchen sinks make it easier to do the dishes and cook at the same time, perhaps 80% listed as either essential or desirable.
Brian: Number five was hardwood flooring. Also, 80% of respondents wanted it. Number six was a walk-in pantry in the kitchen. Number seven oh. And that was also 80% of response.
Brian: Number seven was drinking water filtration. 78% of Respondents said that Was either essential or very desirable for them.
Brian: Number eight was a patio or deck. Also, 78% wanted it. Number nine, security cameras, also 78% listed as desirable.
Brian: And finally, rounding.
Brian: Out the top ten list was kitchen table space for eating. 77% of respondents said it was essential. Or greatly Desirable for a home.
Brian: Now, a couple patterns. You might notice there. Four out of those Top Ten were Kitchen amenities. So that is something to keep note of people. Really. The kitchen is the heart of the home nowadays. It’s not a formal. Living room anymore. It’s not a formal dining room anymore.
Brian: The kitchen is really the beating heart of homes in today’s America. So, bear that in mind as.
Brian: You are renovating properties, as you are shopping for investment.
Brian: Properties, pay extra attention to the kitchen. All right, top ten, least desirable amenities. Number one was an elevator, which, you know, my dad actually grew up in a house with an elevator, and he and his brother and sister Were playing with it one day and broke it, causing a massive bill for my grandparents. But even elevators in apartment buildings, you know, a lot of people maybe don’t even want to live in a building that is big enough where you need an elevator. So that was the number one least desired amenity was an elevator.
Brian: In the property. Number two Is a golf course being golf Course front or Whatever, housing, which was a bit surprising to me. A lot of people seem like they like golf course living. But 42% of respondents. Said they did not want to live on a Golf course or right near a golf course.
Brian: Number three was glass walls. So, I get that people. Like theirs Privacy glass walls. Not super private. 41% of respondents. Listed that as undesirable.
Brian: Number four is cork flooring. 40% of. Respondents did not want cork. Flooring in their property.
Brian: Number five is bamboo flooring. 36% of respondents did not like did not want bamboo flooring, which I found a bit surprising, actually, because I have always thought of bamboo flooring as a. A more affordable. And also, just as. Durable flooring alternative as Hardwood. But people don’t like it Compared to hardwood. At least according to this survey.
Brian: So, number six. Was a pet washing station.: 36% of respondents Did not want a pet washing station. Suppose that makes sense. Not everyone has pet.
Brian: Number seven is an onsite or immediate Nearby a daycare center, 35% of respondents Didn’t want it, didn’t care about it. Number eight was a wine cellar. 34% of respondents had no interest in a wine cellar. I find that impossible to believe myself as a certified, y’know? But you know, there’s no accounting for taste, right?
Brian: Number nine is a green roof. In other words, plants covering some or all of the roof. 34% of respondents did not want it. Which I sort of get. Because green roofs are probably more. Work to maintain than Regular roofs. So, I hear you.
Brian: And number ten Is an in-law suite. 32% of respondents did not want an in-law suite. I found that actually the Most surprising of all on this list, because as we talk about all the time, a Spark Rental in-law suites or income suites or 80 use or whatever. How are we going to put them there? Great for house Hacking. You can rent them out.
Brian: Or of course, you Can stash your in-laws there. But, you know, it’s. Probably better off for you if you earn some money off It rather than having your in-laws constantly harping on you. But yeah 32% of respondents had zero interest in an in-law suite. They found it undesirable. Now this list, this is the top ten and bottom ten list, specifically for first-time homebuyers.
Brian: However, these Lists almost identically match the top ten and bottom ten lists for all homebuyers in the US. The only difference is that among all home buyers, dual toilets in the primary bathroom and the master bathroom. Made the most unwanted List for home buyers in general.
Brian: Bamboo flooring did not rank on that most unwanted list among home buyers in general.
Brian: So, first time home buyers really didn’t like bamboo flooring. But I Guess the average home buyer is Okay with it. Who’s to say? Yeah, a couple of implications on this list.
Brian: For landlords, for other real estate investors, for flippers. There’s some low hanging fruit.
Brian: Here on this top ten list Water filter for the Kitchen that is cheap and easy to install. So, invest the 50 bucks or 100 bucks or Whatever and get a Water filtration system for drinking Water in the kitchen.
Brian: Security cameras also really cheap and easy these days, whether you use like an old-school subscription-based Security system or whether you use smart cameras Which you can buy Individually or in Sets, again, a couple hundred bucks, you can knock that out. Very simple and easy to install. Low hanging fruit.
Brian: Exterior lighting also pretty cheap. And easy to install. Again, low-hanging fruit for real estate investors and landlords. We talked about the kitchen Florida. The top ten amenities are kitchen amenities among the most wanted list. And, you know, let’s just talk about flooring for one second. We did talk about this a little bit. Apparently, people don’t like Bamboo flooring as much as I do. So, if you are Trying to decide on what kind of flooring to put in Your unit during a renovation for lower and mid-range units, consider higher end Luxury vinyl tile that either.
Brian: Looks like hardwood floors or looks Like stone in bathrooms, kitchens Very durable and also waterproof and you can also look for more affordable hardwood floor options. If It’s a higher end unit. I don’t like putting hardwood Floors into Rental units because your tenants don’t care for them. They don’t take care of them. They’ll scratch them up, they’ll shove Furniture around. And rip up the hardwood floors. So, aim for very, very durable Hardwood floors and Lower-end hardwood floors. If you’re putting them in a rental unit.
Brian: Your tenants are going to be hell on those hardwood floors. Bear in mind that the Lighter, the color of bamboo or hardwood flooring, Typically, the More durable it is. Because The process of toasting the wood to get that Deeper, darker color on there Can weaken the wood.
Brian: So lighter bamboo floor is lighter. Hardwood floors are often more durable. Talk to your flooring supplier about Durability if you are considering Hardwood Floors. And again, look into higher end of flooring.
Brian: It’s waterproof, very durable. It’s great for rental properties.
Brian: On that note. We are going to wrap things up for Today. I will see you guys’ next Tuesday. And in the meantime, stay in touch too.
Brian: Shoot us a message over at [email protected]
Brian: We read all of those messages ourselves and have a great week. All right. See you next Weekend or next week.