Must Have in New Homes
The following list contains 10 essential things that are important to people buying homes today. This list is especially important to the Millennials , also known as Generation Y, that are now representing a large part of today’s market.
Quality of the neighborhood – It is important to be in a popular or trendy neighborhood, unfortunately at this time they are more likely to be overpriced. It would be more beneficial to research the market and determine where the next up and coming area will be. Some of the ways to research these areas is to look for areas that are building new parks, schools or recreational areas. Also, areas that are becoming more of a social scene, with bars, restaurants, and new exclusive shops that will attract a younger, more enthusiastic clientele.
Convenience to job – Being close to work without a long commute is important, because it impacts a person’s everyday life. A long commute causes stress and takes away a lot of time to be doing other more productive things. Also, with the cost of gas and wear and tear on a vehicle can add up to a large expense.
Affordability of homes – It is important, especially just on the verge of coming out of the “Great Recession”. People are not able to afford what they once might have been able to purchase at one time. The job market is tight for new graduates, and many depleted their live savings during the recession. Being able to keep the housing related costs to a minimum has never been so important. It is recommended to not spend more than one third of your pre-tax income.
Quality of schools – Many people looking to buy a house are interested in the success and quality of schools in the neighborhood, and would be willing to pay more.
Quality of the neighborhood – The neighborhood is one of the most important aspects of buying a home. Each buyer has individualistic needs such as being close to shops and restaurants, being able to walk to a park, having a short commute to work, and the value of the homes will aid in maintaining the value in the buyers home.
Keeping home for 15 years – Buyers used to want to stay in their home no more than 10 years, but today they expect to stay closer to 15 years. So, it is important to find a home that will fit their needs as they change through that time.
Mortgage – Today getting a mortgage can be very challenging, due to tight credit regulations. Buyers should consider buying a home below what they actually qualify for in order to bump up the loan to value ratio.
Energy efficient – With new home construction energy efficiency is one of the most important demands. The most wanted features are energy-star rated appliances, energy-star rating for whole house, energy-star rated windows and ceiling fans.
High ceilings – Not only do high ceilings look nice and make the home look bigger, but they also create a better air circulation and more natural light than lower ceilings.
Technology – This is especially appealing to Millennials, who pride themselves in being able to run their home from a cell phone. They prefer technology over curb appeal.
If you would like more information on your local real estate market, or are first time home buyer not working with a Realtor and would like to schedule a consultation with a qualified Oakland County and Macomb County Realtor, please complete the Lang Premier Properties contact form to have a real estate agent contact you.
Ben Lang is a Birmingham Realtor specializing in Oakland County Real Estate. Ben is an agent with Max Broock in Birmingham, Michigan. See what past clients have to say about Ben Lang. Lang Premier Properties looks out for your best interests when you purchase a new custom luxury home. We always recommend working with an experienced luxury real estate agent when buying a new luxury estate.