Affordability

I dont know the most important thing for buyers, I wish that I did.

However I think that renting has always been more expensive than buying, mostly due to tax loopholes and laws that oppress landlords and force them to charge more just to survive.

I don't think the rates going up will have a significant impact.  If it priced someone out of the market, they might not have been the strongest buyers to begin with.  With rising prices, I'd say value for the money and being able to make the payments would be the best "features" for buyers.

They live in the payment, not the price so the cost of money is always a concern.

It's all about value! Different buyers want different things but it comes down to their perception of getting what they want, or can live with, for the price thay can afford

Being able to find a decent home in the buyer's price range is probably the most important thing to them in this market.

I was inspired by  Mary Yonkers but will tweek the answer to Value.  Prices are going up so fast, buyers think they are getting ripped off in a sellers market

Diana,

I think that Mary Yonkers made a great point. A

I can't name just one as it seems the bueyrs want it all and in their price range. Sometimes it is difficult.

Interest rates want to rise but will wait for the economy to catch up. Buyers should buy anything and just trade-up later. Same with renters. Small places priced right anywhere will turn-over. Now is the time to buy or sell

As always, the most important thing is location. Buyers are also still hoping to find the mythical seller who hasn't been educated on market value so they can get a great deal.

In my market - perceived value and the ability to win in a likely multiple offer situation.   

First impression as we drive up...

We're not a sellers market here - nor is it a buyers market

And we have lots of inventory

Rising interest rates MOTIVATES, not discourages buyers.

What a buyer finds most important depends on the buyers situation.

First time buyer

New construction buyer.

Move up buyer

Arrival buyer

Downsizing buyer

Prestige buyer

Each of these have a different 'most important' regarding the house they can afford.

the kitchen is always the most important room....

No one thing... what's important can vary as much as the buyers vary in their needs. Good neighborhoods and good schools are always at the top of any buyer's list, in general. Buyers really want a move-in ready house these days, as well.

Diana Dahlberg - to best of my knowledge (and experience, too), it is Kitchen.

Each homebuyer is looking for different things.

Diana Dahlberg, here the #1 feature for the past 2-3 years has been outdoor living space. Master on the main level is probably #2 and totally updated kitchen runs a close third. I have fewer and fewer buyers who have any interest in making ANY changes at all to a home - they insist on move-in-ready!

Interest rate increases haven't kept my buyers from making a move but, for a few of them, it has changed their price range a bit. I'm sure by the end of the year, we'll see more buyers who are majorly impacted by the interest rate hikes.

I think as long as interest rates stay under 5 we are good, go over 5 we will slow and at 6 we may gring to a halt. 

It varies by buyer and location.

Mary Yonkers nailed this one!

The kitchen.

It's all about value! Different buyers want different things but it comes down to their perception

  Mary Yonkers and Nina Hollander provided great answers!

Just being able to find something that meets their needs and is affordable.

Kitchens

Kitchens-=; Always!

Depends .

Updated homes, especially the kitchen and master bathroom.

Still a/c is a must.

Right now it is getting ahouse to buy in their price range.

For the first time ever upgrades has become important to many buyers.  It should be location, yard size, future investment in my opinion.

Depends on the buyers. 1st timers are looking for something vastly different than upper end buyers.  No to interest rate......

The buyers I work with remain focused on what they need in a home. # of bedrooms, bathrooms, open space, storage, etc.  They just keep at it until they get into contract.  

Affordability and value for what they are buying.  Prices for value are out of balance in our market. 

updated kitchens

When a buyer need to buy, they tend to buy without worrying about interest rates. When they hit the "hot button" they move forward!