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In the ever-changing world of real estate, understanding buyer preferences can significantly influence a property’s appeal. Today’s home buyers are discerning and usually have specific desires regarding features and amenities. Let’s dive into some of the more common features desired by buyers, aside from a home that fits within the buyer’s budget and has the minimum required bedrooms.
STORAGE SOLUTIONS
For today’s homebuyers, ample storage is paramount. A walk-in pantry, spacious kitchen cabinets, abundant closet spaces, and organized garage storage are sought-after features that add tremendous value to a home. Zillow’s extensive “Results from the Zillow Consumer Housing Trends Report 2023“ indicates that 71% of home buyers cite storage as an important feature – a rise of 7% in the past 5 years due in large part to increasing issues with home affordability and the ongoing trend to include extended family or others in the household headcount when shopping for homes.
Fortunately, you can add storage to your home without breaking the bank or your back. Additional wire shelving in closets, the space under stairways, or in the garage will add more space with little cost and time. If your budget permits, consider adding a closet organizer or creating extra storage space in the attic, usually without the need for a contractor. If you would like to read more tips about organization and storage, this article may be of interest.
MULTI-GENERATIONAL LIVING
According to the National Alliance for Caregiving, as many as 1 in 5 people provide care for aging parents or adult children, and that number is expected to continue to rise. In addition, higher housing costs have kept about 25% of young adults living in a multi-generational home. As a result, more people are opting to live with relatives or friends, creating a growing need to have split bedroom plans, bedroom suites on the main floor, an in-law suite with a separate entrance, or a separate apartment or guest house. In a recent survey, 35% of polled agents said having a separate living space was the highest priority for buyers.
BRIGHT AND MODERN KITCHENS
A kitchen is the heart of the home, and current buyers are leaning towards lighter color choices such as whites, grays, “greiges”, and light-colored woods. Matte black or brass hardware and quartz countertops are also part of the current trend. 74% of buyers also prefer stainless steel appliances, marrying functionality with style. If adding stone countertops or new cabinets is not feasible, you should consider painting the walls a neutral color, painting the cabinets, installing new drawer pulls and knobs, or adding a timeless backsplash to bring your kitchen up to date.
WALK-IN PANTRY / APPLIANCE GARAGE
According to a Kiplinger’s report on the 15 Home Features Today’s Buyers Want Most, over 80% of buyers want a kitchen storage area in their next home. Reasons include keeping small kitchen appliances out of sight when not in use or having more shelf space for food items and cleaning supplies. If a separate pantry is not possible, 42” cabinets or a standalone pantry cabinet are also considered a plus.
ENERGY EFFICIENCY
Cost-conscious and eco-friendly buyers are seeking energy-efficient appliances, lighting, and windows to save on electricity costs. As many as 83% of prospective buyers cite this as a desired feature in a new home. Modern Energy Star appliances and upgraded windows result in lower electricity bills and contribute to a home’s overall eco-footprint. But you don’t have to go overboard in spending to reduce energy costs in your home. You can save as much as 7.5% on heating and cooling bills simply by weather-stripping and caulking key areas of your home.
OUTDOOR SPACES
More than ever, outside areas have become an extension of the home. Many buyers look for back patios or decks and prefer covered areas. Outdoor kitchens, BBQ spaces, and fireplaces enhance the outdoor living experience. In addition to backyard features, let’s not forget the appeal of a welcoming front porch as well. According to a recent survey, 58% of agents say that buyers expect an upgraded outdoor space. Examples include a covered patio, deck, front porch, and exterior lighting to add to the ambiance and functionality of these spaces.
OPEN FLOOR PLANS
Open interior spaces create a sense of continuity and community in homes. The National Association of Home Builders report on “What Home Buyers Really Want” states that 85% of buyers desire an open layout between the kitchen and dining room. 79% favor an open space between the kitchen and family room, and 70% want the dining and family rooms to flow seamlessly. If your home does not have an open floor plan, be sure to add as much light as possible, including painting the walls a lighter color and installing recessed ceiling lighting.
THE RETURN OF CEILING FANS
With 83% of buyers indicating a preference, ceiling fans have made a comeback. They offer an energy-efficient way to circulate air, complementing a home’s HVAC system. In the warmer months, you can set your air conditioner thermostat to a few degrees higher if you install a few ceiling fans, and you can save 3-4% on your cooling costs for each degree higher that you set the thermostat. As an added bonus, during the colder months, running the fans on low speed in the reverse (clockwise) direction will gently push the warmer air downward, resulting in reduced heating costs.
Fortunately, most ceiling fans are quite affordable, and they range widely in style, color, price, and size. The most common size is a 52” fan, but if the room is smaller or larger, it may require a different size. To estimate what size fan is needed, check out the recommendations below.
| Room Type | Room Size | Rotation Diameter |
|---|---|---|
| Bathroom, Mudroom, Laundry | Up to ~145 ft2 | 26-40″ |
| Bedroom, Office, Large Bathroom | 12×12 to 15×15 or ~145 -225 ft2 | 42-44″ |
| Large Bedroom, Living Room | From 225-400 ft2 | 52″ |
| Extra-large Room or Larger Room with High Ceilings | More than 400 ft2 | 60” or multiple fans |
FLOORING MATTERS
According to Kiplinger, 81% of surveyed buyers want hardwood flooring throughout much of the living areas. It’s estimated that hardwood flooring will cost anywhere from $6-18 per square foot, depending on the type of wood and installation requirements. While hardwood remains a classic and desired option, luxury vinyl flooring has also surged in popularity due to its lower cost, durability, and lower maintenance. With a slightly lower price point of $4-16 per square foot and a wide variety of styles, this may be an equally appealing option.
FUNCTIONAL AND EFFICIENT LAUNDRY ROOMS
Today’s ideal laundry room goes beyond a washer and dryer. Buyers are seeking energy-efficient appliances, adequate storage space, and dedicated surfaces for ironing and folding clothes. They are also often looking for an extended laundry room area that also includes a mud room complete with built-in shoe and coat storage or a place for pet supplies. As many as 87% of buyers cited separate, larger laundry areas as a requirement in their new homes.
HOME OFFICE AND FLEX SPACES
With the continuing trends of remote work and changing family dynamics, a dedicated home office, workout space, or flexible space that can adapt to the family’s needs has become more important than in past years. For instance, Zillow.com reports that 64% of buyers want a dedicated home office space. Whether that’s a separate bedroom, a den, or even a dedicated space in the basement, home offices have become increasingly more important and are on the wish lists of first-time and experienced buyers alike.
Today’s home buyers are seeking properties that combine aesthetics with practicality. They crave spacious and organized living areas, modern design features, and energy-efficient solutions that align with a sustainable lifestyle. Understanding and adapting to these preferences is crucial for anyone in the home-selling business, as today’s wish list is now more specific and discerning than ever. Although every home can’t include everything on this list, as your real estate professional, I can provide ideas of lower-cost improvements to your home that may improve its appeal to today’s buyers and give you a list of comparable sold homes and homes for sale in your area to see how you match up. Ask me how!