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Special Report: What Buyers Want

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Special Report: What Buyers Want

Room To Stow

New homebuyers top requirement is storage space, lots and lots of storage space

New homebuyers are asking themselves the same question: Where do I put all my stuff?

As the price of housing per square foot in the GTA continues to grow, homes are getting smaller in order to make them more affordable. It’s a natural response to market conditions, but homebuyers are finding that shrinking space is creating storage issues.

Is it any wonder, then, that the No. 1 “Must Have” for buyers in the GTA is storage; walk-in closets, linen closets and large garages are on just about everybody’s wish list, according to research conducted by Avid Ratings Canada for the Canadian Home Builders’ Association (CHBA).

Avid’s research, which polled 2,775 new homebuyers across Canada, found three recurring themes: the need for storage, kitchens must be modern and bright, and energy efficiency is essential.

Breaking down the responses by region, Avid’s finding for buyers in the GTA align with the rest of the country.

Mississauga-based In2ition Marketing has also conducted research on what condominium buyers in the GTA would like to see in their new homes and have some interesting facts to report. For instance, its research found that buyers are shying away from “over-amenitised developments,” fearing rising maintenance fees. Buyers want a focus on maximizing the usage of the amenity space with function rated over quantity. What they do want, however, is hotel-style lobbies with 24-hour security and well equipped fitness centres.

TOP 10 MUST HAVES

  1. Walk-in closets
  2. High-efficiency windows
  3. Overall energy-efficient home
  4. Kitchen islands
  5. Energy-efficient appliances
  6. Linen closets
  7. Open-concept kitchens
  8. Two-car garages
  9. Certification/rating by an energy program (Energy Star, etc.)
  10. Large windows

SOURCE: AVID RATINGS CANADA

KITCHEN WISH LIST

  • Quartz countertops rank higher than granite (laminate ranks lowest).
  • Kitchen islands rank as important and are trending up.
  • Energy-efficient appliances rate high and are trending up with smart appliances on the rise.

SOURCE: AVID RATINGS CANADA

MASTER BEDROOM/ ENSUITE WISH LIST

  1. Double sinks
  2. Oversized showers
  3. Private water closets

SOURCE: AVID RATINGS CANADA

CONDO UNIT WISH LIST

  1. Full-size fridges
  2. Pocket doors
  3. Walk-in closets
  4. Window coverings
  5. Engineered flooring
  6. Kitchen islands
  7. Smooth ceilings
  8. Smart wiring
  9. Multiple outlets for charging devices

SOURCE: IN2ITION MARKETING

WHERE WE’RE HEADED

  • Move towards families living in multi-unit buildings with family-friendly amenities
  • Electric car docking stations
  • Common area social hubs
  • Communal gardens

SOURCE: IN2ITION MARKETING

UPGRADE WISH LIST

If you had an extra $10,000 what would you spend it on?

  1. Interior finishes
  2. Larger lot
  3. Finished areas
  4. Energy efficiency
  5. Larger house/condo

SOURCE: AVID RATINGS CANADA

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