ERIE, Pa., May 16, 2019 /PRNewswire/ -- A national
survey commissioned by Erie Insurance found that more than half of
U.S. homeowners (53%) are happy with the features they chose for
their homes, but the rest (47%) regret one or more of the features
they chose.
Erie Insurance, which provides homeowners insurance,
commissioned the survey to gain more insights into consumer
preferences and trends.
The survey asked homeowners about features they wanted and got
when they bought their home, but wouldn't get again if they were
buying a home today. It also asked about features homeowners did
not get but now wish they had. See a wide range of survey results
in this infographic, and watch this video to see what homeowners
have to say about their choices.
Overall, homeowners are much more likely to regret not
getting certain features than getting them. For example, of all the
features homeowners were asked about in terms of what they wanted
and got but wouldn't choose again, the biggest percentage (9%) say
they wouldn't get hardwood floors again. But, when asked a
separate question about features they didn't get but wish they had,
a much larger percentage (16%) say they wished they had
gotten hardwood floors.
Granite countertops are another feature where homeowners are on
different sides of the fence. Granite countertops were second on
the list of features homeowners wanted and got but wouldn't choose
again, with 8% saying that. But, more than twice as many homeowners
(18%) regret that they did not get granite countertops.
Below are the top 5 features homeowners wanted and got but would
not choose again:
Feature
|
Percentage of
homeowners who would not choose it again
|
1. Hardwood
flooring
|
9.2%
|
2. Granite
countertops
|
7.8%
|
3. Stainless steel
appliances
|
7.6%
|
4.
Fireplace
|
7.4%
|
5. Deck
|
7.2%
|
When asked why they would not get certain features again,
reasons ranged from feeling the feature was not worth the money, to
being tired of it, to feeling that the feature is outdated now.
Some respondents volunteered that certain features, such as
stainless steel appliances, white kitchen cabinets, and whirlpool
tubs, are hard to keep clean.
In terms of features homeowners regret not getting, a
walk-in pantry topped the list, with just under a third (30%)
saying they wish they had one.
Some homeowners even regret getting features people might assume
everyone would want, such as two sinks in the master bathroom. Four
percent of homeowners regret them, saying they don't need or use
them. A few respondents added that they would rather have more
countertop or cupboard space than two sinks.
A fair number of people regret not getting green features in
their homes, such as tankless water heaters (16% wish they had one)
and solar panels (15%).
A few also wish they'd gotten a dedicated space to bathe Fido –
5% wish they had a dog washing station, though this feature is
three times as coveted in the South as in the Northeast (7% of
Southern homeowners regret not having a dog washing station, while
only 2% of Northeasterners do).
Below are the top 5 features homeowners didn't get but wish they
had:
Feature
|
Percentage of
homeowners who now wish they had it
|
1. Walk-in
pantry
|
30.2%
|
2. Granite
countertops
|
17.8%
|
3. Kitchen
island
|
16.8%
|
4. Tankless water
heater
|
16.4%
|
5. Finished
basement
|
16.2%
|
Regardless of how they feel about various features inside and
outside their homes, the survey found that an overwhelming number
of people are fond of their homes, with 94.6% saying they like or
love them.
"It's heartwarming to see that the vast majority of people have
very positive feelings about their homes," said Bob Buckel, vice president, Erie Insurance. "It
feels good to know that we're protecting something that really
matters to them."
The survey also asked questions to gauge people's knowledge
about their homeowners insurance.
"One of the most important coverages a homeowner can have its
what's called 'guaranteed replacement cost,' which would pay to
replace a home regardless of what it would cost in today's
dollars," said Buckel. "Unfortunately, more than four in 10
homeowners say they don't know whether their policy has this
coverage or not. That tells us that we, and the industry at large,
need to do a better job of educating consumers about the important
coverages that are available to them."
Additional survey results, including breakdowns by age, gender,
and geographic region, are available to media upon request.
Methodology
This survey of 500 U.S. homeowners ages 28
– 60 was conducted by Falls Communications on behalf of Erie
Insurance from March 22 through March 26,
2019. While different sample sizes have different
statistical margins of error, the estimated margin of error for any
question with a sample size of 500 is +/-4.5%. Additional
methodology details are available upon request.
About Erie Insurance
According to A.M. Best Company, Erie Insurance Group, based in
Erie, Pennsylvania, is the 9th
largest homeowners insurer and 12th largest automobile insurer in
the United States based on direct
premiums written and the 16th largest property/casualty insurer in
the United States based on total
lines net premium written. The Group, rated A+ (Superior) by A.M.
Best Company, has more than 5 million policies in force and
operates in 12 states and the District of
Columbia. Erie Insurance Group is a FORTUNE 500 company.
News releases and more information about Erie Insurance Group
are available at www.erieinsurance.com.
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SOURCE Erie Insurance