Observations / January 2024

The Impact of Pets on Home Buying Decisions

Story courtesy National Association of Home Builders

Pets can have a significant impact on home buying decisions for many people. According the U.S. Census Bureau, 2021 data shows that there are 63.8 million occupied housing units have at least one pet which represents almost 50% of the 128.5 million occupied housing units. A recent U.S. Bureau of Labor Statistics Consumer Expenditure Surveys examines the increase in household budget spent on pet-related expenses. In 2021, consumers spent more than $100 billion on pet-related expenses, far exceeding other categories such as women’s clothing or alcoholic beverages.

When it comes to home buying decisions, 19% of all home buyers factored in their pet into their neighborhood choices according the National Association of Realtor’s 2022 Profile of the Home Buyers and Sellers. Community and neighborhood factors such as pet-friendly communities and neighborhood amenities (like dog parks, proximity to vet services, or pet-friendly businesses) can influence consumer’s buying decisions. NAHB’s What Home Buyers Really Want covers preferences for pet washing stations and the importance of community features such as dog parks for pet owners.

Home features play a crucial role in attracting pet owners and influencing their home buying decisions.

Outdoor Spaces:

Fenced Yards: Many pet owners prioritize homes with fenced yards, providing a safe space for their pets to roam freely.
Gardens and Landscaping: Pet-friendly landscaping, such as a well-maintained lawn or a garden, can be an attractive feature.

Interior Design:

Pet-Friendly Flooring: Durable and easy-to-clean flooring materials like hardwood, tile, or laminate are often preferred by pet owners.
Built-In Pet Spaces: Features like built-in pet beds, feeding stations, or even designated pet rooms.

Accessibility:

Easy Cleaning Features: Homes with features that make cleaning up after pets easier, such as mudrooms, pet washing stations, or homes with minimal carpeting, can be appealing.
Pet-Friendly Entryways: Mudrooms or side entrances that make it convenient for pet owners to clean and care for their pets before entering the main living spaces.

Neighborhood Amenities:

Proximity to Parks: Homes near parks, walking trails, or pet-friendly parks are often sought after by pet owners for daily walks and exercise.
Pet-Friendly Businesses: Proximity to pet services like grooming salons, veterinary clinics, or pet supply stores can also be seen as a plus.

The National Association of Home Builders is a Washington-based trade association representing more than 140,000 members, and is affiliated with 700 state and local home builder associations around the country.