As many of you know, in "real life" I am a real estate attorney. In today's challenging economy, it is important to understand some of the top selling points if you are listing your home for sale. I'd like to welcome Christina Johnson who works for Elliman Prudential today. She has some great advice for anyone thinking about selling their home.
What are buyers looking for in a home? In addition to what buyers usually look for, there are trends in the current housing market that should not go unnoticed when attempting to sell a home.
1) The Open Concept Home
Buyers no longer want homes with separate spaces for different family functions. More and more when homes are staged, real estate professionals are advising clients to create multipurpose spaces. Buyers can then see how valuable and functional open areas are. Larger rooms can be arranged so that no area is wasted. In a family room, a media area, an office area and possibly a separate game room space would be the optimum arrangement for maximum functionality.
2) Outdoor Living Spaces
Popularity is growing for these spaces. In the winter time it’s not so easy to create an elaborate outdoor living space but as soon as the warmer weather arrives, this should be a big consideration when attempting to sell a home. It increases a buyer’s perception of how much living space the home has and adds value to the home because so many people are not vacationing as much as in the past. Many buyers are looking to create their own private oasis in the back yard.
3) Neutral Decor
This is an essential aspect to creating a home. This will allow your home to be attractive to many, as opposed to a few. Buyers are actually willing to pay more for a house or rental property with a neutral color palette. That doesn’t mean that everything has to be beige – there are a so many beautiful modern neutrals. These colors add depth, character and intense interest to spaces without making them dull.
4) Updated Kitchens
This is an area that will give a fantastic return on your investment. Many buyers fall in love with homes based on the kitchen alone. Most people congregate in kitchens at gatherings anyways, so buyers will envision their guests enjoying the space.
5) Green Living
Installing a recycling center into the kitchen, mud room or garage are desirable features to buyers in the current market. Outdoor compost areas are also trending as a desired feature in the real estate market.
6) Smart Storage Options There is a need for clever storage in a home. Well designed walk-in closets and built in storage options in a home that can store all of their things, yet keep them accessible. Creating a few extra storage options is a smart thing to do when selling a home.
7) Energy Efficient Appliances and Fixtures
Many buyers insist on “keeping it green” and are looking for appliances and fixtures that are energy efficient. Examples are energy efficient lighting, toilets, kitchen and laundry room appliances. Buyers want to save money any way possible. It’s all about conservation.
8) Double Car Garages
This is in keeping with multifunctional spaces. Buyers want a garage that will have a space for their car and also as a workspace and a storage space. If you have a single car garage, make sure that this space remains clutter free.
9) Natural flooring
Natural wood flooring has long been a desired selling feature in homes. Oak, pine and bamboo are all popular with buyers.
10) Designer Tubs and Showers
Whirlpool baths are out and large, attractive soaking tubs are in vogue in today’s buyers dream. In addition, seamless glass shower doors, multiple shower jets and overheard rainfall showerheads are some of the desirable features in bathrooms.