These days, home improvement ideas are everywhere, from magazines, Pinterest boards, TV shows, and even whole networks dedicated to upgrading and designing a person’s dream home to absolute perfection. When preparing to sell your home it can seem overwhelming to think about these seemingly endless options. It all begs the question, what do buyers really want?
Keep in mind that most remodeling efforts only increase home values by 50% to 80% of the average home improvement project’s costs, according to Remodeling magazine’s 2020 Cost vs. Value report (1). To get the most bang for their buck, sellers should focus on the features that homebuyers most want to see. While this is far from a complete list, here are the items that top most current home buyers wishlists this year.
First time home buyers are particularly drawn to energy efficient features that will cut costs and save on utility bills. These savings can vary depending on how many energy efficient appliances a home has. Efficient refrigerators can keep food fresh longer while Energy Star certified washing machines can monitor and adjust water usage based on the soil level of laundry. It’s not just appliances either as Energy Star rated windows can reduce heating and cooling cost by 12% (2)
Don’t Go Against the Grain!
The appeal of hardwood floors is a little underestimated. Its viewed as a vanity feature but 83% (2) of homebuyers desire them. Hardwood floors are also durable, long lasting, and versatile with most any room layout. If you have carpet in your home and don’t want to break the bank upgrading, there are also some lower cost alternatives such as bamboo, vinyl, or cork.
Kitchen upgrades are one of the features that can bring the most return for a seller. Home buyers greatly desire things like new appliances, granite countertops, and copious amounts of storage and pantry space. According to Clayton Homes, Home buyers will pay up to 40% more for an eat-in kitchen (3).
One of the things home buyers want above all is a place to sort laundry other than the spare room. Laundry rooms previously viewed as a luxury home feature, now are seen as an essential with over 90% of homebuyers. If you don’t have a laundry room currently, the easiest place to add one is usually the basement, this can cost as low as $1000 (2). However it should be noted that most people would prefer a laundry room on the main floor.
Getting back to nature
While the inside of the home is important, don’t forget about the exterior! In today’s housing market, a desirable outdoor area to relax in is one of a homebuyers most coveted features. It is estimated that adding a patio to your exterior property or upgrading a preexisting one can increase the value of your home and return on investment somewhere between 66%-72% (1).
Having any of these features in and outside of your house will likely gain a buyers attention. However there is no one size fits all when it comes to homes. The best thing would be to get an expert’s opinion! Reach out today to one of our many friendly and experienced agents for guidance and advice in the home selling process.