Monday, February 18, 2019

What do Canadian homebuyers really want?

Homes inspired by HGTV and luxury pools were once highly prized by Canadian homebuyers but it seems times have changed.

A survey of 1,800 consumers by real estate marketplace Zolo Realty has found that buyers are more interested in properties with a garage, an en suite and main-floor bathroom and a newer furnace or A/C unit.

"Buyers aren't foolish. Updating a kitchen and removing walls is a lot of work, but these updates are not as hard or as costly as trying to carve out a bathroom for a master bedroom or building a garage from scratch," explains Mustafa Abbasi, President of Zolo Realty.

The poll found there is broad agreement between men and women when asked for their homebuying wish list.

A garage is key for 51% of women and 41% of men, and a sizeable share of both men (39%) and women (31%) consider an en suite a necessity.

But there is some divergence between the sexes with women favouring an updated kitchen (39%) while men want a main floor bathroom (38%). An updated HVAC is important for both men (32%) and women (38%) while a fenced-in yard is more important for women (38%) while men favour energy saving appliances (31%).

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