Which green products are most important to buyers and homeowners?

Last week, the National Association of Home Builders highlighted the key green products and systems that consumers are looking for in a home. The 2020 Green Single Family and Multifamily Homes SmartMarket Brief surveyed builders and remodelers regarding their consumers’ most requested green products. Though the data was collected before the impact of COVID-19 was felt on the industry, eco-friendly features are expected to remain high on wish lists overall.

“Customers, who have spent months in their homes, have developed a heightened awareness of what efficient, comfortable and healthy means to them, and builders and remodelers need to be ready to meet these needs,” NAHB noted in a press release.

According to the brief, consumers are most interested in products and services that directly affect utility bills and indoor environmental quality. Over half of builders and remodelers (57%) ranked finding a home that is energy efficient as their top request among owners and homebuyers, while most (84%) ranked it at least in their top three requests. In regard to product systems that impact indoor environmental quality (IEQ), water conservation and renewable energy, around half of builders and remodelers ranked those requests in their top three as well (44-54%). And roughly a quarter of builders and remodelers surveyed noted that owners and homebuyers requested material and resource-conserving products.

Data also showed these requests being acted upon by builders and remodelers. In regard to the most important item in terms of energy efficiency, LED lighting was the most requested among owners and homebuyers with an 85% request rate. It also ranked as the top green project in terms of what remodelers have undertaken at 91%. Additionally, direct outdoor ventilation using fans ranked as the top IEQ improvement among owners and homebuyers (72%), and there are currently 81% of builders and remodelers putting such projects into place. Likewise, the results for water conservation are the same: 72% of owners and homebuyers have requested high-efficiency plumbing fixtures as their top green product, meanwhile 81% of homebuilders have started those projects. Looking at reusable materials, 84% of builders and remodelers are implementing such products based on a 64% owner and homebuyer request rate. By contrast, owners and homebuyers have not shown much interest in solar, with only 8% requesting this renewable energy source, which may be why only 16% of such projects have been put into place.

So next time you’re writing up a listing description for a home with eco-friendly features, you might not want to concentrate on the flashy items, since simpler energy-efficient green products ranked the highest among owner and homebuyer requests. Targeting those consumer hot-buttons of efficiency when marketing a home may attract that next high-performance sale you’re hoping for.

For more information about buyer preferences, read our post on buyer home preferences post-COVID-19.

5 Must-Haves for High-End Buyers

With more home gadgets being unveiled each year, there’s are now an overwhelming number of features that a home can be equipped with. This is especially true with luxury properties, as high-end buyers have more specific wants than a typical homebuyer. Here are the top five things that are on luxury buyers’ must-have list.

#1. Latest Tech

With technology becoming more accessible and advanced, it has also made its way from our pockets and into our homes. Systems like Amazon Alexa or Google Home serve as a voice command assistant. Another big trend has been digital, and even mobile, smart-home security systems such as the Ring Video Doorbell. These smart security systems can even be activated remotely from ones’ smartphone, creating not only simplicity but also a sense of security for homeowners.

#2. Privacy 

Along with added in-home security, high-end buyers are not afraid to pay more for their own privacy. This gives you an idea of how to set up home searches for such clients. Privacy features that these buyers are looking for include gated communities, ample security features, tall gates, barriers and privacy hedgerows around the property.

#3. Modern Kitchens

One of the main hubs in any home is the kitchen, so these areas must be up to par with buyers’ wants. High-end buyers want their kitchens outfitted with large white cabinets along with white quartz countertops. Stainless steel appliances remain king, along with a sizable kitchen island. Another trend in kitchens is dark hardwood floors and brighter LED lighting.

#4. Designer Names

There’s been a trend in residential towers, and that is the association of residential buildings with a major luxury brand. One example is the Aston Martin Residences tower in Miami, Florida. Amenities here include two cinemas, an art gallery, a virtual golf room and an exclusive yacht marina. These buyers aren’t afraid to spend more for luxury residences or their amenities, which also gives you more options for new construction.

#5. Fitness and Health

Luxury amenities don’t have to be all about the glitz and glamour. Many buyers have fitness goals or overall health concerns, which is why luxury home builders have taken note and incorporated amenities to check that box. This includes spaces such as yoga studios, spa lounges and even boxing rooms.

Almost every homebuyer has a checklist in mind when looking for a new home, and luxury buyers are no different. However, their checklist may vary a bit from the rest. These are five major points of interest for them, and they’re not afraid to shell out more money to get them. With that in mind, it’s key that you customize your home search process to align with the desires of higher-end buyers.

Learn more about how to better serve luxury home buyers with a seven-day free trial of AgentEDU and check out the “Representing Buyers” course.

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