The National Association of Realtors (NAR) revealed the findings of its 2013 Profile of Buyers’ Home Feature Preferences, with storage space among the top features home owners seek.

Approximately 33 home features were listed in NAR’s survey of buyers who bought homes between 2010 and 2012.

“Deciding where to live comes with a lot of options, but buyers quickly realize that some features are more important than others when it comes to choosing the right house for them,” said NAR President Gary Thomas, broker-owner of Evergreen Realty, in Villa Park, Calif.

A few important features home buyers consider include walk-in closets, eat-in kitchens, baths, laundry rooms and home office/den/library.

The second most important feature for home buyers (behind air conditioning) was a walk-in closet in the master bedroom; 39 percent of buyers considered this feature very important. Following that was an en-suite master bathroom.

When it came to actually buying a home the next most common feature behind central AC and cable/satellite/Internet was an eat-in kitchen; 89 percent of buyers who thought this was important purchased a home with an eat-in kitchen.

Buyers value some features so much they will spend more to have them. For instance, a walk-in closet in the master bedroom was the third most common feature on which buyers would spend more. Sixty percent of buyers who did not purchase a home with a walk-in closet would be willing to pay $1,350 more for a home with this feature.

Additional findings include:
Buyers aged 35 to 54 placed more importance on a laundry room, while those with children placed more importance on a family room.

The two most common rooms buyers were willing to spend more for were a laundry room and a den/study/home office/library. Sixty-three percent of buyers who did not purchase a home with a laundry room would be willing to pay $1,590 more for a home with this room. Forty-four percent of buyers who did not purchase a home with a den/study/home office/library would be willing to pay $1,920 more for a home with this room.

Most satisfied homeowners still said they would like more or larger closets and storage space. In addition, nearly half of recent buyers would prefer a larger kitchen, and two out of five would prefer a larger home overall.”

Within three months of a home purchase, 53 percent of buyers undertook a home improvement project. The typical buyer spent $4,550 on various projects.

Remodeling the kitchen was the most common home improvement project; 47 percent of buyers undertook a project in the kitchen. Bathrooms were a close second at 44 percent. Forty-one percent of buyers who made home improvements added or replaced lighting, and 37 percent added or replaced appliances soon after becoming a homeowner.