What matters most in properties to Home Buyers?

[Vijay Kurhade]

Hi,

As a expert in real estate marketing/sales how will you rank following property characteristics from an Buyers perspective.

Property Size

Quality of Construction

Internal Layouts

Accessories

Price

Project Amenities

Locality/Neighborhood

Future Appreciation.

Thanks in advance.

Regards-

Vijay

[Nathan Grabau]

I think that this is market specific and largely depends on the buyer. I also think that some of these things have diminishing returns for people. 

To focus on one on the list, neighborhood, different buyers have different desires for their neighborhood, not all of which drive up price. I would not want to be in an urban area, I also do not need incredible schools, but I do want a quiet area. With regards to diminishing returns, in the South Denver area, there are two municipalities, Cherry Creek and Cherry Hills Village, that the typical person does not know are two different areas. That being said, the typical home value in Cherry Creek is about 950k and the typical home value in Cherry Hills Village is 2.8 million. Most people, if they had 2 like kind homes, would not consider there to be enough value to be in Cherry Hills Village, but for a small segment of the market, paying 3 times as much for a home, is an acceptable trade off to get into Cherry Hills Village. 

What I would say, is one of these area's is lacking compared to the others, that will substantially hurt your market value, especially as today's buyer gets more picky.