Top 10 Features that Buyers Are Looking for in New Homes
According to an article by Steve Kerch appearing on MarketWatch entitled "The Kitchen is Still King", there are 10 must-have features that buyers are looking for in new homes. If you are a homeowner selling your home and have these must-have features, you are at a better advantage than your neighbor selling an older home without these desired features. Homeowners preparing to list their homes in a stagnant housing market may want to consider doing some small home improvement projects to increase the value and appeal of their home. The key to increasing your home's appeal to buyers without going in the hole is knowing which of these ten desirable home features you should tackle as home improvement projects.
1. According to the list, the number one feature of a home is a large kitchen with an island. Short of a complete remodel, there is nothing you can do to increase the size of your kitchen; however, you can install a kitchen island for very little money. Also, paint your kitchen walls and cabinets a light color to brighten the room and make it look larger. Keep everything off the counters to make them look more spacious as well.
2. Energy-efficient appliance, insulation and windows are the second feature buyers are looking for when searching for a new home. We are living in a "green" world and many younger couples are extremely eco-conscious. Appliances and windows can be costly; however, they will also increase the value of your home tremendously. Discuss with your Realtor what the difference in the sales price would be if you installed new appliances and windows then search to see if you can find items that would increase the sales price sufficiently more than the cost of the appliances and installation.
3. New homeowner's would rather have a home office or study than a formal dining room, theater or spare bedroom. This is an easy weekend home improvement project that will increase interest in your home. Install a bookshelf, small corner desk and inexpensive office accessories to show potential buyers how a home office will fit into the plans of your home.
4. If you have a multi-level house, buyers want a main level master suite. If your home does not have this, then the cost to build one will probably outweigh the potential benefits in sales price.
5. Landscaping and outdoor areas are gaining in popularity especially since more people are spending time at home rather than going out. This is another simple, weekend home improvement project that you can accomplish inexpensively. Take a weekend to shop at the local thrift stores, flea markets and yard sales for used outdoor furniture that is in good condition. Create an inviting outside living area by adding inexpensive flowerpots.
6. Ceiling fans are still on the list as popular items in homes. These are inexpensive and easy to install in bedrooms, living rooms and your kitchen.
7. Oversized showers, whirlpools and large tubs in the master bathroom are still very popular in homes. Unfortunately, if your home does not already have this feature, you may find it more costly to install than it is worth.
8. The last three items on the list are things that current homeowners really cannot change about their home. New homebuyers prefer stone, brick exteriors, and want two-car garages. If your home does not have these, then you are really not going to be able to change this without major costs. Furthermore, buyers are searching for neighborhoods with playgrounds, walking trails and community landscaping. Unfortunately, if you live in a neighborhood without these features, there is nothing you can do about this to make the neighborhood more appealing to potential buyers.
Do not give up - - if there are things that you cannot change about your home focus on the ones that you can improve upon to make your home more appealing to buyers. It seems like an old cliché; however, it is true - - giving your walls a fresh coat of paint, replacing flooring with inexpensive new wooden laminate flooring and updating fixtures are all great home improvement projects that will increase the appeal of your home.
Sources:
Steve Kerch, "The Kitchen is Still King", (MarketWatch 1/20/10)
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