Are you looking to buy a house but have no idea what to look for? Purchasing a home, especially a first home that you aren't likely to retire in, isn't only about what will keep you happy while you are living there. You also have to take into consideration what will attract buyers when you are ready to sell.
If you are gearing up to sell your home and are interested in what you can do to stay competitive in the market, this list of features that buyers look for can help you determine which improvement projects to focus on!
The National Association of Home Builders released a report, What Home Buyers Really Want, and here are their key findings. These features will give you an idea of things to look for when shopping or things to update in your current house.
Buyers: What are house hunters looking for in a home? Energy efficiency! Buying a home is an expensive endeavor and homeowners are looking to save money right away. Energy-efficient appliances are a big plus, one that many homeowners are looking for their new place to offer. If you are a first-time home shopper and aren't sure what you should be looking for, a home that can help you save on energy costs is a great place to start.
Sellers: If you are looking to make your home more attractive to buyers, consider Energy Star rated appliances and windows. You can even add a solar panel system, which studies show significantly add to the value of a home. Connect with a local solar installer to learn more about both the short- and long-term perks of a solar panel system.
Buyers: Renters know the struggle of lugging dirty clothes to the laundromat or even the basement of the apartment complex, so a home with dedicated space for a washer and dryer is mighty attractive . A laundry room is high on the must-have list of many homebuyers. A laundry room can double as a storage room for your cleaning supplies as well, or anything else you would like to keep handy but out of sight.
Sellers: Creating a dedicated laundry room isn't as expensive of a home improvement project as you might think, provided you aren't knocking down walls and starting from scratch. If you are looking to attract more serious buyers, especially if you have an older home, consider converting an existing space into a laundry room.
Buyers: It's easy to see the appeal of hardwood floors; they are durable, easy to clean and maintain, and don't fade over the years, unlike carpet. Did you know that hardwood floors provide better air quality than carpet, making it a big selling point for those with families or those planning on having children? For all these reasons and more, many shoppers are only interested in viewing homes that have hardwood flooring.
Sellers: When it comes to features that sell a house, hardwood reigns supreme! Buyers, on the whole, are moving away from carpeted floors. Depending on the cost of this renovation, it may be a worthwhile undertaking. This is especially true if you have older carpeting that needs replacing anyway. It may be better to make the switch to hardwood than to have new carpet installed. This isn't to say that there can't be any carpet in the home, but most of the common rooms should be hardwood.
Backyard Patio or Deck
Buyers: High on the list of popular home features is a backyard patio or deck. Many homeowners envision having backyard barbecues with friends or playing with their children, and a patio provides a dedicated space in which to relax. Take in the crisp morning air while drinking a cup of coffee, all while curled up on your backyard deck!
Sellers: An outdoor deck or patio can raise the value of your home and, depending on the type you decide to build, can be cost-effective. If your backyard is a big selling point for home shoppers, a deck will only add to the appeal. If you already have one but it is outdated, consider sprucing it up.
Garage With Storage
Buyers: Other than a home purchase, what's another significant investment? Your vehicle. A home with a dedicated, secure garage can help protect your car, and thus, garages are high on a buyer's priority list. If you know the struggles of street parking, a home with a garage will be a welcome change!
Sellers: If you already have a garage, storage space is also high on the list of what buyers want. Adding aesthetically-pleasing shelving is an affordable way to increase the appeal of your home, as homebuyers are always looking to maximize space.
Buyers: In addition to a security system, exterior lighting can help meet your safety needs. Properly lit doorways, pathways, and landscaping all work to deter intruders. Plus, with proper lighting, the risk of falling is reduced. It's true that you can install exterior lights yourself; just make sure that the home you are purchasing allows for ease of installation.
Sellers: When it comes to curb appeal, it is hard to beat exterior lighting. Lights are an easy, very affordable way to catch the eye of buyers. You can even come up with a layout that draws attention to or highlights particular aspects of the home that you find the most appealing.
Buyers: Hard as we try to keep things organized, kitchen cabinets can quickly become a place of chaos. Instead of having to split your kitchen cupboards between plates, cups, utensils, cookware, and all your food, opt for a home that has a walk-in pantry. The easy-to-view design of a pantry means you can more quickly find the items you are looking for and helps you stay organized.
Sellers: What do most high-end homes have in common? A walk-in pantry. Even if your home isn't on the luxurious side, a walk-in pantry can give it a touch of added richness. Don't have space for a walk-in? Consider other ways to optimize kitchen storage.
Rate Simple Can Help
Remember when everyone wanted a swimming pool? Homebuyers have gotten much more practical over the years and are now looking for home features that benefit them every day, rather than providing some fun for the kids a few months out of the year. So if you are a buyer looking to get your home search started, use the above article to help you narrow down what you are looking for. Then let Rate Simple design you an exceptional mortgage so that you can easily secure the home that checks all of your boxes!