Today's Buyers Want Peace and Quiet Over Short Commutes

Homebuyers are more likely to choose an affordable home with more space than a home closer to the office, according to a recent Realtor.com survey. The decision comes down to finances and quality of life, says Realtor.com’s senior economist. With fewer workers headed to the office on a daily basis, homeowners are less concerned about commute times. Of the 1,200 prospective buyers surveyed, 28% said a quiet location is the most important home feature, 25% said it’s an updated kitchen, and another 24% said it’s a garage and large backyard.

Those looking for homes also value outdoor living areas, 20%, and space for the fur babies (aka pets), 18%.

“Additional square footage, flexible space that can be reconfigured as a family’s needs change, and outdoor living areas have really risen in importance,” says Ratiu.

People are increasingly searching for things like “fenced yards,” “acres,” “front porches,” and garages on Realtor.com. More folks are also looking for “pet-friendly” abodes, which is likely tied to more folks adopting animals during the pandemic.

On the flip side, fewer people cared about short commutes and smaller homes today than before the health crisis. In a nod to the uber-competitive housing market, they were also significantly less likely to search for things like “remodeled” homes, granite countertops, and theater/media rooms. That’s likely because it’s hard enough finding a home at a right price range, winning the bidding war, and having an offer accepted. As a result, many buyers have adjusted their expectations.

The features they’re most willing to forgo include man caves and pools/spas followed by guesthouses, in-law suites, and new construction.

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