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Consumer Buying Trends

Economy Reshaping Buying Patterns, Survey Says

LAS VEGAS — Changing priorities and persistent weakness in the economy are having a distinct impact on consumers when it comes to the homes and home-related products they are purchasing.

That’s the finding of a newly released survey conducted by Better Homes and Gardens, America’s largest home enthusiast magazine, which released the December 2008 research project’s results at the recent International Builders Show in Las Vegas.

According to the magazine’s “Next Home Survey” of more than 700 potential new home buyers from across the country, respondents identified six factors as being top priorities when buying their next home: An affordable price; energy-efficient building/heating-cooling systems; natural light; no-space-wasted design; ample storage space, and family gathering areas.

“Following an era of ‘supersizing’ our lifestyles and our homes, consumers are coming back down to earth with a new frame of mind shaped by economic realities,” said BH&G Editor-in-Chief Gayle Butler.

According to Butler, consumers are “ready to give up the trophy homes, and the redundant rooms that have no use. Instead, consumers are telling us that they want a home that’s the right size and arrangement for how they live now,” she said.

When asked how their next home will compare in size to where they live now, 32% responded that they expect a new home to be either somewhat smaller or much smaller. Nearly two-thirds (63%) said they consider comfortable family gathering areas a top priority.

“We’re seeing more interest in ‘Wii-sized spaces,’ media-centric family rooms that can accommodate a variety of activities – from board games to video games, Wii dance and fitness systems,” Butler said.

Kitchen and dining spaces will also be family-focused, according to the survey. For example, when asked what kind of spaces they will want in their next home, 56% of consumers preferred a combined kitchen, family room and everyday eating area; 64% wanted an everyday eating space in or close to the kitchen.

The desire for private baths remained strong, with 66% of respondents saying their next home will have at least one secondary bedroom with a private bath.

Among the survey’s other findings were the following:

  • Consumers will consider fewer luxuries in their next home. Of the attributes considered less important, 20% or more of respondents named kitchen and bath finishes and upgraded finishes such as granite countertops.
  • Green elements will be a top priority, with 90% planning to have energy-efficient heating and cooling systems in their next home and 31% to have geo-thermal heat (see related story at below).
  • A well-organized home continues to be a priority, with 69% of respondents listing no-space-wasted design and ample storage space as attributes that will take on more importance.

Butler also cited organizational trends such as furnishings that include more storage and organizing features than ever before, and more functional use of wall space.

“Getting organized is a major priority for today,” Butler said. “In the home, it’s our number one strategy for stopping clutter, saving time and staying on top of our busy lives.”