If you are familiar with the real estate market you know that not all houses are created equal. Although they are in the same neighborhood or have the same size or the same number of beds and baths some houses will sell for more or some will sell for less. If you are selling your home, of course, you want to be able to sell it for more. So, here are 5 trends of home features that buyers want the most, and are willing to pay for, that can help nudge the gauge on your asking price.
One of the biggest trends that have changed over the years is the desire of homeowners to have a more layout. Gone are the days when all rooms in your home are partitioned by walls. Homeowners now want a more open layout when it comes to commonly used spaces such as the kitchen and dining and living rooms. Knocking down a few walls and opting for dividers such as different floor tiles and wall paint color for each room, or orienting furniture in different rooms away from each other.
Smart Storage Solutions
Another recent trend is Marie Kondo-ing your life and getting rid of all the things that you do not use. Having to get rid of all your stuff is difficult and may not be practical since you might still be able to use them in the long run. Some people, however, have found a solution, storing the stuff that you do not usually need.
We all want to maximize every inch of our home, but there are just some nook and crannies that are unusable for anything else except converting them to storage spaces. Creative storage spaces are definitely something that all potential buyers would be interested in such as using vertical storage spaces, built into walls or hanging cabinets, adding drawers to any solid furniture, and making use of dead spaces such as under the stairs, high ceilings, and tight corners.
Having walk-in closets, pantries, or basically, anything that was just a shelf or a cabinet before that was converted to a walk-in room. Having them in your home gives off a more luxurious feel and therefore making it more desirable to potential buyers. If you have the space that can be converted to walk-in, anything north of five square feet would be sufficient, anything less than this would feel cramped and the walk-in closet or pantry was just forced. Having these walk-in features would significantly increase the value of your home.
Half bathrooms used to be a feature that only big and lavish homes have, however, over the last couple of decades, it has evolved to be something that homeowners now need. The value of having a powder room is basically for the use of guests. If you always entertain guests in your house, you would know firsthand how inconvenient it is to have them pass through your bedroom before getting to the bathroom. Then when in there they have access to some of the things that you would prefer to be kept private.
Patios, Decks, and Porches
This may not be a priority for first-time homebuyers and people starting their families, but for certain buyers such as people buying up this is more often than not part of their checklist. Having patios, decks, and porches adds character and flexibility to your home not to mention the additional usable and value-adding square footage to your home.
Porches add to the curb appeal of a home thus the effect on the desirability and sale prices. Having external spaces such as patios and decks in your home upgrades your lifestyle by having the space to enjoy outdoor activities, you can install a court or half a court, depending on the size, wading pools, or hot tubs to name a few. This can also be a space to be able to entertain guests and have family gatherings.
If your home doesn’t currently have one, it would be prudent to look into the trade-off in terms of additional profit versus the cost to build one before deciding to install one, after all installing a patio deck, or porch would be a major remodel.
Trends come and go, what was hot 3 years ago is not necessarily what buyers in today’s market would be. Take home offices, for instance, this was not a necessity a couple of years ago, especially if you are an employee and do not bring home some of the work that you need to do. But recent circumstances have made home offices a need more than a want.
You may not be able to control and influence the market but knowing these features will help you decide whether you need to do minor remodeling to sell your home, if not for a higher price, at least get offers and close faster.