What’s most important to today’s homebuyers? According to one survey, it’s finding a home that’s in move-in ready condition.
According to the results of a December 2024 nationwide survey conducted by Bright MLS, which serves more than 100,000 members across the mid-Atlantic, prospective buyers ranked the condition of the home as the most important factor when searching.
Among the nearly 700 prospective homebuyers who responded to the survey, 56.1% said buying a home that was move-in ready and required no repairs was “very important,” while 37.8% indicated move-in-ready was “somewhat” important to them.
According to Bright MLS Chief Economist Dr. Lisa Sturtevant, the survey revealed that while most prospective homebuyers realize that trade-offs are often necessary when choosing a home, “they are more likely to compromise on the size of the home and location before giving up on their dream of finding a home in move-in-ready condition.”
When it comes to the features that are most important in a home, the number of bedrooms, a garage and primary en-suite rank at the top of homebuyers’ lists, with 53.2% of survey respondents reporting that the number of bedrooms matter most. Nearly 50% of respondents indicated that a garage (49.6%) and primary bedroom with an en-suite (49.3%) were also very important. Overall size of the home ranked fourth at 43.3%.
What else are homebuyers looking for? Nearly a third of prospective buyers indicated that a front porch (32.5%), energy efficient green features (32.0%) and a large yard (31.2%) were very important, while a gourmet, upgraded kitchen and well-designed outdoor space ranked lower, at 24.8% and 24.3% respectively.
When it comes to what’s important in terms of a home’s location, distance from job/commute ranked highest at 54.0%, followed by walkability (36.1%) and school quality (35.6%). Approximately a quarter of those surveyed indicated that having access to public transportation was very important.
Although prospective buyers recognize that buying a home will likely require them to make tradeoffs, some choices are easier to make than others. Just under three-quarters (74.8%) of those surveyed said they would consider purchasing a smaller home and nearly two-thirds (64.2%) indicated they would be willing to buy a home outside of their preferred neighborhood.
And, while finding a home in move-in ready condition tops buyers’ wish lists, 54.8% of survey respondents said that they could see themselves compromising and buying a fixer-upper if that was what was available. Additionally, 54% indicated that they would consider buying a two-unit home or a home with a rental unit.
