Amenities, we’ve all heard the word, and we know we want them. But what exactly is an amenity? Amenities are benefits that increase the value of a property. They can be tangible, like a swimming pool, garage and tennis court; or intangible, like a good location perhaps, a great mountain view or proximity to a terrific school. They are physical or not, but they make a property more desirable, probably more expensive and may surely add to the quality of your life.
Amenity preferences change with the weather and I thought it might be interesting to take the pulse of today’s homebuyers. Better Homes and Gardens did a survey of 500 luxury homeowners in 2013 and published some telling results. They found that “lifestyle” is an important element in deciding to purchase a home. 53 percent of respondents expressed an interest in owning homes that supported their favorite activities, like skiing, or enjoying urban entertainments like restaurants, museums and live theater.
Size of the home is taking a back seat to other luxurious or tech amenities. 60 percent of people surveyed said they would happily exchange square footage for luxury upgrades in the home – like home theaters, pools and such. A staggering 94 percent responded would trade 1,000 square feet of living space for some intangible amenities that include: 1) a better location (54 percent); 2) a charming house with character (51 percent); 3) a larger lot and increased privacy (44 percent); 4) proximity to dining and entertainment (39 percent) and 5) a shorter commute to work (38 percent).
When it comes to popular tangible amenities, a majority of participants chose a “smart” house as a priority, and a full 87 percent revealed they would not consider the purchase of a house that lacked tech amenities. High on the list of non-tech must-haves had to do with outdoor amenities – a beautiful garden (53 percent); an outdoor fireplace (50 percent) and a separate guest or pool house (47 percent).
Today’s builders are cognizant of the absolute necessity to include amenities in their offerings. In condominiums and gated communities, clubhouses, fitness centers and pools are de rigueur and become more lavish as competition for demanding purchasers is on the rise. Pools become lagoons, workout rooms become spas and media rooms become theaters.
When it comes to in-house amenities, popular kitchen amenities include six burner ovens and farm style sinks. In the bathroom, steam and jet showers, hand held sprayers, walk in tubs, dressing vanities and luxurious glass and stone finishes turn baths into home spas. When price is no object, specialty rooms like media centers, wine cellars and fantasy children’s playgrounds are sought after amenities.
We all love and appreciate these goodies in our homes. But some things never change. When it comes to choosing a new home, the old phrase “location, location, location” still applies. Indeed, it is the one amenity that cannot be added or taken away and adds more to the value of a property than any other feature. You can add that outdoor kitchen, electronic insect control device or even a swimming pool, but none of these will mitigate a noisy location, an inconvenient address or an unpleasant view. Make sure you make the “amenity” of a beautiful spot the first order of business in your home search. Then add that deluxe shower head and all the other comforts of home.
Del Phillips is a California Licensed Real Estate agent. He is a member of the National, California and San Diego Association of Realtors. You can reach Del at Ascent Real Estate at 619-298-6666 or at Del@DelPhillips.com DRE LIC #01267333.
