5 Things Buyers Want Most in a New Home

Out with the old and in with the new, that’s how most people say it. And it bodes well when selling properties. COVID-19 has changed homebuyer preferences, especially those who had to work from home or take care of children who were affected by school closures.

Despite consumer spending declining to a record low amid the pandemic, many Americans have spent their time at home making DIY renovations, so it’s no news that those wanting a new home are looking for upgraded features. And if you finally decide to sell your home, we recommend that you take your time determining what your target buyers want and make some necessary upgrades that could get you going with the divestment.

Here are five features home buyers are willing to spend a little extra on in a new home:

1. Laundry Room

It could come as a surprise that a separate laundry room tops the National Association of Home Builders’ list of most-wanted features by buyers. But really, some Americans nowadays prefer a separate laundry room in their home probably as a preventive measure against diseases. Besides, a dedicated laundry room could be beneficial as you can hide dirty clothes and stack clean ones without your room looking messy.

If the home you’re about to sell doesn’t have its own laundry room, you can try rearranging things or use the basement if you have one. It makes sense since the utility lines are already there.

2. Outdoor Space

Being stuck at home during the pandemic has made outdoor spaces a luxury to many. According to a survey conducted by Gardens Alive, 62% of Americans spend more time outside their property as a direct result of the pandemic, given it’s safer and easier to practice social distancing measures. Meanwhile, 72% of Americans prefer to instead invest in their home than shell out money on a grand summer getaway.

That’s why homebuyers are looking for larger outdoor spaces where they can celebrate special moments (i.e., backyard birthday parties, gender reveals) intimately with family and friends without worrying about their safety. Homebuyers are also into patios and front yards with ample space nowadays.

So if you’re looking to spend on home upgrades, spruce up your yard space with some exterior lighting to attract more potential buyers. Make your outdoor space conducive where people can work, kids can play, and families can gather.

3. Energy Efficiency

Future-proofing your home is a great way to get more attention from homebuyers. If you’re planning minor fixes or major renovations, consider making energy-efficiency upgrades. This could help lower consumption and energy bills, adding a significant value to your home. You can replace light bulbs and other fixtures with energy-saver ones. Light-emitting diode (LED) light bulbs could be an excellent choice for residential properties. They offer similar light quality to traditional incandescent bulbs but last 25 times longer and use less energy.

You can also invest in Energy Star-rated windows. With gas prices and prices of many essential items continuously rising, an energy-efficient home can help alleviate the expenditures of homeowners. In 2019, the Net-Zero Energy Coalition estimated that the US has only 5,000 net-zero energy single-family homes and over 7,000 net-zero multi-family homes. So there’s a massive opportunity for you to showcase an energy-efficient property for sale.

4. Functional Kitchen

A lot of people spend time in the kitchen even before the pandemic, particularly those with families, so a renovated kitchen is something that could pique a homebuyer’s interest. Over three-quarters of buyers are looking for a functional kitchen with a double sink, walk-in pantry, drinking water filtration system, table space for eating, and a central island.

If your house has a large kitchen, consider adding a kitchen island so future homeowners can enjoy more storage and counter space to keep their dishware and cookware. Kitchen islands usually range from $3,000 to $5,000, but those built with high-end stones like quartz or granite could cost up to $10,000 to $12,000.

Remodeling a kitchen can be a hefty investment, but working with a budget and keeping things simple can get you that new kitchen look and design that add greatly to your property’s value.

5. Remodeled Bathroom

A tidy-looking bathroom could definitely attract potential buyers, so make sure you execute a remodeling project to highlight your bathroom’s best features and functionality. You can start with redesigning the backsplash as your budget allows, and this can already redefine your bathroom. You can also give your bathroom a universal appeal by adding modifications for accessibility, which could be another great selling point, of course.

If you have a master bedroom with a bathroom, upgrading it through adding a bath tub, changing the shower, or changing the mirror or windows, could likely add value to your home.

Conclusion

Renovating your home before selling is a balancing act. You have to take out what you want and keep things simple and minimal so potential homebuyers can visualize themselves living in your home. It can be challenging to figure out for sure, but you can recoup what you spent with the right decisions – from choosing energy-efficient light bulbs to new bathroom tiles. Just don’t forget that what matters most is what your target buyers prefer, and you can only do that through ample research and consideration.

However, if you don’t target specific buyers, don’t want to spend money on repairs or upgrades, and/or prefer to sell your property as fast as you could, you can go to Shorefront Investments and get a real cash offer within 24 hours. It only takes a few steps: fill out a form or give them a call, wait for us to schedule a property viewing, and you’ll receive a no-obligation offer afterward.

If you decide to sell your property to us, we will process all the paperwork on your behalf without asking for commissions and other fees. This means more cash in your pocket, and you can do what you’ve always wanted to do sooner than you thought. Click here to get started.