When looking to sell your home, remodeling or upgrading certain parts of it can help increase its value. Picking and choosing which parts of your home you want to make updates to can be challenging and that’s why knowing what buyers are looking for in this market can help you make that decision and get the most return on your investment.
We looked at the Zillow Consumer Housing Trends Data along with a survey from HomeLight partnered with top-performing real estate agents in the country to find out what is at the top of homebuyers’ wish lists and what they may be willing to spend more on.
Kitchen Updates
HomeLight’s most recent End of Year 2023 Top Agent Insights Survey found that 92% of agents say modernizing the kitchen is the best way to appeal to today’s buyers. This could be painting cabinets if they look outdated or adding granite or quartz countertops to give a luxurious appeal. Making these kinds of updates can change the whole feel of the kitchen, giving sellers a higher chance of selling their home quickly and for top dollar.
Improved Outdoor Living Spaces
Covered back patios, backyard decks, and usable front porch areas are highly popular amongst buyers. They want an outdoor area in which they can relax and remain out of the hot sun in the summer months. An inviting deck could add more than $7,000 in resale!
Outdoor entertainment amenities are also in full demand. This includes everything from countertops, a bar, cabinets, a sink, BBQ equipment, TVs, and outdoor fireplaces. Be sure to highlight outdoor spaces and amenities when selling to catch a buyer’s eye.
More Livable Spaces
Finished basements or attics are appealing to buyers right now. Deciding to finish these spaces before selling can actually add to the home’s advertised square footage. Bonus spaces such as recreational areas, playrooms, and game rooms tend to be a big want for buyers.
Home Office or Flex Spaces
COVID-19 has brought many to work remotely, homebuyers now include a space to have their office in on their wish list. Having that extra room for use as a home office has been listed as “very or extremely important” to buyers. Seize this opportunity to emphasize any space there may be in the home that can be used as a home office.
Storage
Storage is often a big concern for buyers while they are looking for ample storage solutions such as walk-in closets, pantries, and garage storage systems. Be sure to maximize all of the storage spaces when selling.
Energy Efficient Features
As people have an increased awareness of environmental concerns, homes with energy-efficient features are becoming more attractive to buyers. Efficient insulations, solar panels, and energy star-rated appliances can be more competitive when selling.
Smart Home Technology
Buyers want convenience and safety in their homes. Smart thermostats, security systems, and automated lighting are all on the rise in importance to home buyers. Installation of these smart home devices has seen a noticeable increase and could help your home stand out that extra little bit to a house hunter.
Sources: HomeLight, Showing Time Plus, Fox & Roach
Founded in 1971, First Weber Realtors® is a part of HomeServices of America, the nation’s largest provider of total home services. With 60 offices and more than 1,400 real estate professionals, First Weber is consistently number one in Wisconsin for unit sales and real estate sales volume. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com
