11 things home buyers will pay more for in a house

November 6, 2007

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
Hardwood floors 57% $1,900
High-end kitchen appliances 56% $1,660
Garage for 2 or more cars 56% $2,120
Patio 54% $1,340
One or more fireplaces 46% $1,220
Fully or partially finished basement 38% $2,970
Professional Landscaping 38% $1,530
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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