Top 6 Things Home Buyers Must Have in a Small Home

When buyers look for a small home under 1600 sq. ft., they aren’t looking for small versions of everything included in a 2500 sq. ft. home. Instead, they are ready to nix items such as walk in closets, separated formal dining rooms, and garage storage.

The top six features buyers want when looking for a small home include a laundry room, energy efficiency, ceiling fans, open floor plans, reasonable location, and small/no garage.

Top 6 Things Home Buyers Must Have in a Small Home

Laundry Room

Buyers of small homes want to be able to do their laundry in their home, as opposed to traveling to a laundromat every week. These buyers see traveling to do laundry as a use of time and energy that could be better spent doing something else. When these buyers say they want a laundry room, they are specifically requesting a separate room to do their laundry. They would prefer to avoid using space in their bathroom or garage to hold stack-able washers and dryers. This can be a small nook in the wall covered with shutters when not in use, just as long as this area is separated from other rooms.

Energy Efficiency

Many buyers of small homes are going after for the smaller footprint to enjoy less maintenance and lower maintenance costs. So it makes sense that energy efficiency is one of the top things buyer look for when buying a small home. NAHB’s survey found that buyers of small homes tend to have modest incomes ($47,000 compared to $67,000 for all home buyers), and 60% want to buy existing homes rather than new.

With the mindset that these buyers don’t want to spend more than $150,000 for the home, they are also motivated by a desire to reduce ongoing utility costs. Energy efficient features include led lights throughout the home, an option for motion sensor outdoor lighting, and energy efficient appliances.

Ceiling Fans

In accordance to reducing energy bills, buyers of small homes do not want to pay for air conditioning during the warm months. They are looking to see if these homes have ceiling fans in each room, and specifically the bedrooms, so they have a way of cooling down the rooms of their house when it’s warm. If buyers open the windows at nights, ceiling fans can blow cool air around their home.

Open Floor Plans

With an open floor plan, 1600 sq. ft. does not look like 1600 sq. ft. A home with an open hallway, great room, and kitchen allows more light into the main area, and makes the space more conducive for entertaining. Along the same lines, buyers of small homes do not want a formal dining room. They want to eat at the nook in the kitchen since they know they will rarely use the formal space. These buyers don’t want to waste the valuable space with a room they will use twice a year. Open railings also help the appeal of an open floor plan. Being able to see through the railings helps the home feel taller and also lets more light into the home.

Reasonable Location

Only 14% of small home buyers are willing to trade longer commute to work for affordability. Buyers of small homes still want to be within reasonable distance from their work or a bus/train route that can take them to work. On the other hand, 28% of small home buyers are willing to trade being farther away from shopping for affordability. So small home buyers are willing to be further away from leisure but not work.

Small/No Garage

Buyers of small homes are not looking for multiple covered garage spaces. In fact, they would prefer a single story home, with either a single detached garage, or no garage at all. These buyers are OK with parking on the street, using the detached garage for more storage space.

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