Location remains one of the most important factors to homeowners, with many continuing to put a premium on space. However, a home can have many other amenities and features, and how home buyers weigh them changes over time. If your home lacks these essential modern features, it will be slow to sell or may not sell at all. Here are the four features that are the most important to current homebuyers.
People want a lot of windows and as much natural light as possible in their homes. However, they don’t want that in exchange for high utility bills. This is why you should consider installing updated energy efficient windows. In fact, more people are looking for energy efficient homes in general.
For example, adding fiberglass insulation to the attic has a nearly 120% ROI on the home’s resale value, because it becomes a selling point for the property. First-time homebuyers, in particular, look for things that will save them money in the long-run and require little maintenance. Think low-flush toilets, double-paned windows, and air-sealed homes.
Forget the budget fixer-upper. Modern home buyers want move-in ready homes that don’t require much work on their part. Anything that comes with significant maintenance requirements, from landscaping to carpets that need to be professionally cleaned, will hurt the value of your home.
This is one reason why hardwood floors have become popular in new and renovated homes. They’re easy to clean and can handle both children and pets. A kitchen full of new appliances ties into this trend. No one has to worry about the appliances breaking, and they’re generally more energy efficient than the older models, too.
Millennials put a premium on connectivity. One survey found that a quarter of homebuyers put a premium on both strong cell phone service and internet connectivity. The latter doesn’t just let them access the internet any time they want, but it is necessary for smart home automation. This means you may need to invest in a signal booster to eliminate any concerns about connectivity that future buyers may have.
The Right Floor Plan
Open floor plans are increasingly popular for a variety of reasons. They make a home seem larger than it is, and they make the space highly functional since you can use it in any way you want. This is why you may want to knock out a wall or two before you put the property up for sale. Certain rooms can add value to your home as well. For example, more than 90% of home buyers said they want a laundry room. This is thought to be due to how many first-time homebuyers are sick of having shared a communal laundry room. It may also be because they don’t want the mess associated with dirty clothes and ironing in the main living area.
Sellers need to understand which features are important to home buyers. Doing so allows them to choose the right renovations for their property to maximize its value, or to promote the features the home currently has.