To attract the most buyers and likely increase the sale price, sellers may consider certain upgrades before listing their home for sale. But what do buyers want? And how much will they pay for them?
The following statistics are from the 2007 NAR profile of Buyers’ Home Feature Preferences report. Some are very easy updates to make– go out and buy fancy new appliances! Others, like distance to work, you can obviously do nothing about.
|Feature||Percent of Buyers willing to pay more for the feature||Median Amount buyers are willing to pay for the feature|
|Central Air conditioning||65%||$1,880|
|Walk-in closet in master bedroom||60%||$870|
|High-end kitchen appliances||56%||$1,660|
|Garage for 2 or more cars||56%||$2,120|
|One or more fireplaces||46%||$1,220|
|Fully or partially finished basement||38%||$2,970|
|Location close to work||35%||$1,970|
|Single Level Home||21%||$2,510|
Some of these numbers are surprising to me, but to each his own. I myself would pay more for professional landscaping than is listed here. And probably not as much for hardwood floors. The above stats provide no guarantee that such improvements WILL increase the value of a home, but they certainly would not decrease it either.
Sellers, what have you done to spruce up your house, and have you seen any results? Home Buyers here in the Wisconsin real estate market – what would you add to this list ?
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