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What New Homeowners Really Need

[Post Category: Industry News, Mailing Lists, Marketing Tips]

A National Association of Home Builders study of four years of home-buying data found that a typical buyer of an existing home spends over $36,000 more during the first year after owning the home than a homeowner who does not move.  The study indicates clearly what new homeowners really need and desire, and therefore implies what products and services they are likely to consume in the immediate period after having moved in.

This data was published in 2008, right after the financial crisis, so it’s a sure bet new home buyers spend much more these days, upon moving to their new property.

Here are some highlights from the 2013 study:

Just over half of new home buyers would like to buy a brand new home; 28% from a builder and 27%  custom built on their own land. An existing home is the first preference of the other 45%.

NOTE: 45% of new homeowners expect to buy an existing home. This is great news for general contractors and others providing remodeling both indoors and out, as the demand for their services is higher with buyers of existing homes than those of brand new home built to order.

47% of new homeowners want three bedrooms, while 32% want four.

65% of new homeowners prefer either 2 or 2½ bathrooms.

66% of new homeowners want to have a full or partial basement.

57% of new homeowners prefer a single-story home.

48% of those who want a two-story home want the master bedroom on the second floor, while 70% prefer the washer and dryer on the first floor.

53% of new homeowners want a 2-car garage. Only about 1 in 5 wants a 3+car garage.

For 65% of new homeowners, the most influential characteristic when buying a home is “living space and number of rooms that meet their needs.”

Buyers focus on quality and appearance when looking at most home components (flooring, doors, kitchen counter-tops and cabinets, carpeting etc.). When looking for appliances, however, the focus is on quality and brand name.

84% of new homeowners want a walk-in pantry, table space for eating, and a double sink in their kitchen

Over 80% of new homeowners want the following in their bathroom(s): an exhaust fan, a linen closet, and both a shower stall and a tub in the master bath.

Over 66% of new homeowners want energy-star rated windows, triple pane insulating glass, and low-e insulating glass. In other words, highest priority is given to the energy saving aspect of their windows.

The laundry room is the most indispensable of all specialty rooms as 57% consider the laundry room to be essential – i.e. would not buy a home without it.

Over 66% of new homeowners also rate the living room, dining room, home office, and great room as either essential or desirable.

32% of new homeowners rate garage storage essential, 54% desirable. Other specialty features wanted (rated essential or desirable) by more than half of all buyers include recessed lighting (59%) and an electronic air cleaner (52%).

The three most wanted outdoor features are exterior lighting (90%), a patio (83%), and a front porch (80%).

Of more than 120 features rated as “essential/must have,” “desirable,” “indifferent,” or “do not want,” a total of 11 are wanted (i.e. rated essential or desirable) by 85 percent or more of home buyers. This “most wanted” list shows buyers are most interested in two themes: energy efficiency and organization/storage in their homes. Energy-star rated appliances and windows, as well as a laundry room and garage storage, are wanted by the vast majority of home buyers (Figure 1 below).

New Homeowners Most Wanted Features

Figure 1 – Click to Enlarge

 

When it comes to technology features, few buyers currently have them yet many want them in their next home. For instance, 50 percent would like to have a wireless home security system, but only 15% do so in their homes now. Forty percent would like security cameras, something only 7 percent of buyers currently have (Figure 4 below).

Figure 4 - Tehnology Needs of New Homeowners

Figure 4 – Click to Enlarge

 

A rather small share of home buyers – 10% – assert that they would install electronic systems and technology features in their homes themselves. Instead, the majority would give the job to a custom electronics/AV professional (36%), a home security professional (19%), or an electrician (18%).

NOTE: new homeowners will gladly pay for professional services, if they are offered at the right time.

If you offer products and services to consumers, such as general contracting, plumbing, remodeling, indoor/outdoor design, furniture, appliances, lighting solutions, HVAC , Technology/Smart Home and Audio/Video installations – you should call one of our marketing experts today.

Consulting with us can be the best 30 minutes you’ve ever spent in planning your marketing strategy and can save your business thousands of dollars in targeting only the audience that is likely to purchase your products and services. We have over 40 years of experience with businesses and direct marketing to new homeowners. We know what new homeowners really need and how to get their attention to your business. Our clients save money on very targeted mailing and get a great rate of phone calls and business out of their campaigns because they get an accurate targeted list of leads and they know what new homeowners really need – their products and services. All that’s left is to put their offering in front of those new homeowners at the right time, before the competition does and get what these new homeowners really need to them in timely fashion. Your business can do it too; it’s easy and affordable.

Sure, you can mail the entire neighborhood each week. But instead, if you only target the new homeowners who have moved to your area of business the previous week, you’ll hit the “right person at the right time”. Add to that an irresistible offer – and it’s a done deal – you have a new customer.

Let us share with you, based on your type of business and location, how we make it work for many local businesses in your area and how they make it work. Surely, together we can make it work for you and earn your business on merits: returning profit on your investment.

Let us save you money and help make you money. Call us today.

If you wish to find out more about the research, you can download the full study here .






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