House-hunters must-have lists vary by state

House-hunters must-have lists vary by state

House-hunters must-have lists vary by state
Deal breakers for those looking for a new home can vary from family to family but a new study conducted by Realtor.com shows that there are obvious trends that can be observed based on region. While things like plentiful storage space, large backyards and location are fairly universal desires, specific must-haves like storm-shelters is far more important to those looking to buy a home in Oklahoma than in New York.

By scanning keywords in home search data in each state, the study was able to determine the most desired features buyers have. Californians often search for solar energy among a home’s description and New Yorkers have a strong desire for balconies.

Overall, the most desired features seen nationwide include alternative living spaces like workshops, barns, granny quarters and RV parking.

Today, no-point conforming 30-year fixed mortgage rates are averaging 3.5 percent and 15-year rates are near 3.0 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 (866) 381-8888 and your questions may be featured in an upcoming article.