The ancient design philosophy, feng shui, still proves to be a powerful influence to Chinese-American home buyers, finds a new survey of 500 Chinese-Americans by Better Homes and Gardens Real Estate and the Asian Real Estate Association of America.
Seventy-six percent of Chinese-Americans surveyed said they were familiar with the principles of feng shui, which guides spatial arrangement and building design to increase the flow of energy in a home. Over half of those who said they were familiar with feng shui follow the practice in their daily lives, according to the survey.
Feng shui can prompt a big majority of Chinese-Americans to buy too. Overall, 86 percent of respondents said feng shui will play a role in a future home-buying decision, and 79 percent said they are willing to pay more for a home that has feng shui principles. Respondents reported a willingness to pay 16 percent more for a home that uses feng shui.
Indeed, 81 percent of Chinese-Americans surveyed who are also home owners said that feng shui factored into their most recent home purchase. What's more, 36 percent said they would avoid a real estate agent who was not familiar with the feng shui principles.
"It's critical for real estate professionals to understand all consumer drivers within the home search," says Sherry Chris, president and CEO, Better Homes and Gardens Real Estate LLC. "For this population, feng shui applications are as essential as other traditional characteristics of a home. Understanding these considerations is part of being a sophisticated service provider as well as an invaluable resource for our clients during the home buying and selling processes."
Chinese-Americans surveyed said the biggest design deal-breakers that went against feng shui principles are: the home being located at the end of a dead end street (31 percent); the home's back stairs directly facing the front door (29 percent); the home having a sloped backyard (29 percent); and the home's front and back doors being aligned with each other (24 percent).
"As the Asian American community's influence in the real estate market continues to grow, feng shui principles are gaining much needed attention and have already influenced real estate developers and interior designers alike," says Carmen Chong, 2015 AREAA national chairwoman.
Daily Real Estate News, National Association of REALTORS