In a 2022 study, nearly 32% of people who purchased new construction homes would not recommend the builder that built their home. You don’t want to be a part of that statistic.
The good news is, we know what buyers want when they are looking for a new home builder. And, with 60% of home buyers preferring a new construction home over a pre-owned property, according to a study by the National Association of Home Builders (NAHB), paying attention to their wants can help you bring in new customers.
What Buyers Want
Buyers of new construction homes are pretty clear on what they value in a home builder. Their preferences include the ease of buying process, location of homes, energy efficiency, and the reputation of the builder, among others. Here, we will explore some of the most important items.
Reputation
One of the most important qualities a home buyer looks for in a new home builder is an excellent reputation. In a study by Zillow, 76% of buyers find reputation to be very or extremely important when choosing a builder.
There are many ways to make sure your satisfied clients share their experiences and help boost your reputation, like asking for post-build reviews and gathering feedback on what you can improve.
The best way to share your reputation is online with up to 97% of consumers looking at online reviews when making a large purchase, according to PowerReviews.
Go Green
Energy efficiency, especially savings in monthly utility costs, is important to consumers who are looking for a new home builder. In the NAHB survey, buyers will pay about $5,000 more for a home that has efficiency features that will save around $1,000 a year in utility bills.
Some of the most important features according to buyers surveyed include:
- ENERGY STAR Windows
- ENERGY STAR appliances
- Efficient lighting
- ENERGY STAR rating for whole home
- Triple pane insulated windows
To attract the buyers who value energy efficiency, it is important to highlight what your homes offer in your marketing materials, online advertising, and in talking points for your sales team.
Features
Buyers looking for a new home like the fact they can have a home built with the features they prefer. They will look for a home builder that offers most of the features on their must-have list. According to the NAHB study, some of the most common features buyers are looking for include:
- Laundry: over half of buyers want laundry on the main floor of the home and a dedicated laundry room tops the list of most important features buyers are looking for.
- Living space: a median of 2,022 square-feet is preferred with between 70% and 80% wanting an open layout.
- Exterior lighting: the second most important feature buyers seek is exterior lighting.
- Other important features named include ceiling fans, ENERGY STAR rated windows, a patio, double kitchen sink, and a walk-in pantry.
What Buyers Don’t Want
We know what buyers want, we also know what they don’t want. In a survey of the biggest frustrations when purchasing their new construction home, the following topped the list:
- Premature maintenance needs
- Delays in construction
- Builder cutting corners in construction
- Rising costs of materials and labor
- Overstretched budget
- Poor construction quality
- Poor communication from the home builder
Staying up to speed with what buyers are looking for in a newly constructed home and making sure the offerings are easily accessible to potential clients can help you sell more homes.
Sources:
Real Estate Witch. Most Americans Have Regrets About Buying a New Construction Home (2022 Data). Accessed June 21, 2022.
NAHB. What Home Buyers Really Want. Accessed June 21, 2022.
Zillow. New Construction Consumer Housing Trends Report 2019. Accessed June 21, 2022.
Power Reviews. PowerReviews Finds that Virtually All Consumers (97 Percent) Depend on Reviews to Inform Purchase Decisions | Business Wire. Accessed June 21, 2022.