Square footage is top feature for nearly half polled

Real Estate Watch

August 09, 1998

What's the most important feature in buying a new or existing home? Square footage.

Almost half (48.5 percent) of those looking for a new home or resale gave that response as part of Professional Builder magazine's 24th annual consumer survey.

In last year's survey, 41 percent listed square footage as their No. 1 priority.

Coming in second was a "master retreat," followed by a modern kitchen and a more efficient energy system.

The survey also found that consumers expected to live in a new home an average of 15 years.

Respondents in the West and South favored single-level housing, while those in the Northeast preferred two-story homes.

Price and affordability was the No. 1 concern (67.8 percent) for first-time buyers, who expected to pay a median price of $103,000 for a new home. However, the National Association of Home Builders reports that the 1997 national median new-home price was $146,050.

And given the opportunity of adding 100 square feet to any room, first-time buyers would choose to enlarge the family room.

Pub Date: 8/09/98

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