When it comes to a homebuyers’ wish list, many of the the most wanted features for their new home can be found in the kitchen. According to a recent study from the National Association of Home Builers, a side-by-side double sink and walk-in pantry was ranked as the most popular of 30 listed kitchen features. In the survey entitled ‘What Home Buyers Really Want, 2021 Edition’, 3,247 recent and prospective home buyers, more than four of every 10 buyers think the double sink in the kitchen is so essential that they would be unlikely to buy a home without it.
Other essential kitchen elements for buyers include a central island, granite or other natural stone countertops, recessed lighting and pull-out shelves. When looking at must-haves by different age groups, Millennials have a longer list than older generations. For instance, a steam oven is desirable or essential for more than half of Millennials compared to just 19 percent of Baby Boomers.
Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 3.0 percent and 15-year rates are near 2.25 percent.
Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (877) 700-0942 and your questions may be featured in an upcoming article.
