What do new home buyers want? We are in the era of social media, smartphones, and AI algorithms, leaving us with a plethora of information on how we should renovate, remodel, and increase the value of our homes. Of course, affordability tops the list, followed up with updated large open gourmet kitchens with large center islands for cooking and gathering.
If you will be selling your home and you only have a certain amount of time and money, there are a few things that buyers are looking for right now.
HOME OFFICE: More than 13 million Americans work from home, according to the most current U.S. Census data, and all signs point to that trend continuing. That makes a home office important for many buyers. As you would list rooms like kitchen and living room, a greater amount of people working and schooling from home means “home office” should be included in the listing. Or, consider saying there is a room as a potential home office.
ACCESSIBLE LAUNDRY ROOM: According to a nationwide survey of recent and prospective homebuyers conducted by the National Association of Home Builders, 87% of respondents wanted a laundry room, making it the most requested feature on their list. No more dark basements. Today’s home buyers seek a bright and large laundry room with plenty of storage, and counter space for folding clothes and it’s always a plus to have a utility sink.
ENSUITE MASTER BATH: If your master bathroom only contains a shower stall or a tub and not both, you’re going to be at a big disadvantage when it comes to selling. According to the latest annual report published by the National Association of Home Builders (NAHB), a whopping 76% of millennial buyers consider this their top must-have. When pushed to specify, potential buyers also revealed that they’d want the tub to feature whirlpool jets and that the shower should have multiple heads.
CENTRAL AIR CONDITIONING: Nearly seven in 10 homeowners said they would be willing to pay more for central air conditioning — the same as new kitchen appliances and more than any other feature. Central air conditioning was considered “very important” by more than 60% of people in all age groups.
ENERGY EFFICIENCY: This is a top home feature that has earned high marks from home buyers. As the cost of energy continues to rise, many home buyers today are looking for homes that are going to be easier and less expensive to run long-term. Consider installing LED lights or using a programmable thermostat. These features can be attractive to home buyers because they often result in saving money on utility bills.
The Bottom Line: Team up with the most successful realtor in your area who will recommend what updates you will need in your specific home to bring in the most money. We can’t control the circumstances of the current real estate market, but we can control parts of our home’s value and appeal. Making strategic improvements can significantly increase the success of the sale of your home.