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What Features Home Buyers Are Willing to Pay Extra For

By Melissa Dittmann Tracey, REALTOR(R) Magazine

What are the two most common home features that home shoppers say they’re willing to spend extra for in order to have in a home?

Air conditioning and new kitchen appliances, according to the 2013 Home Features Survey by the National Association of REALTORS(R).

Sixty-nine percent of the buyers surveyed who did not purchase a home with air conditioning said they’d be willing to pay extra for it — on average, an extra $2,250 in order to have it, the survey found.

Home shoppers say having a home with new kitchen appliances is worth paying about $1,840 extra to have a home with it.

Air conditioning and new appliances were the most common responses in what home shoppers said they’d be willing to pay extra for. But some home shoppers showed willingness to pay higher amounts for a home with other features. For example, 42 percent of buyers said they’d be willing to pay an extra $5,020 for a home that was less than five years old. Thirty-two percent of buyers said they’d be willing to pay $5,420 extra for a home that was on the waterfront.

Buyers who did not purchase a home with a laundry room or a den/study/home office said they’d be willing to pay extra to have these: $1,590 and $1,920 extra, respectively.

And buyers said they’d also be willing to pay extra for a home with a basement and an in-law suite. Buyers said they’d be willing to pay an extra $3,200 for a home with a basement, and an average of $2,920 for a home with an in-law suite, according to the survey.

Comments
  1. Excellent article. Short, to the point and very true. I have to agree that appliances would be the number one “feature” that buyers are willing to pay extra for. I think it would be fun to do a survey of what items came in second place. You have listed a few. Thanks for sharing. Great read.

  2. What about exterior features like garage doors? :) Garage doors can help with energy efficiency (insulated models), comfort, and curb appeal.

  3. $5420 for waterfront? gonna cost you a cool Million in my area of CT

  4. $2250 for AC what a deal!

  5. Timothy DeWein

    $1,840 more for new kitchen appliances? Good luck with that.

  6. Roythompson

    Attn buyers agents,please don’t forget to include a BPG HOME WARRANTY to cover those a/c’s and kitchen appliances!!!!a

  7. Sarah Maus

    I agree with the features, but not with the numbers!

  8. Lori

    I find the numbers to be very low?? Or is it just me?

  9. Regarding comments that numbers are low. I agree. Numbers definitely vary by region.

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