Trying to sell? Here are 5 things your buyers are looking for...
/Often when a homeowner begins the path to selling their home, the thought of putting more money into a home you plan to leave is the last thing on your mind. The truth of the matter is that getting the best value for your home means that you will want to make your home appealing to the buyers that are looking in your price range.
“Upgrades increase home values by 57% of the average project’s costs.”
As a homeowner, the best way to see a great return on your investment is to make small upgrades over time. You don’t need to break the bank either. For instance, decluttering and updating paint are the least expensive and give your home the fresh look it needs.
Laundry Room
Percentage of buyers who want this feature: 92%
Cost to install: $1,200 to $10,000 (depending on scope of project)
Laundry Room
More than anything else, homeowners want room (other than the master bed/floor/ironing board) to stack all the clean laundry in until it finally gets put away. A separate laundry room topped the National Association of Home Builders' (NAHB) list of most-wanted home features by buyers. Buyers see the benefit of having the space to keep the mess that laundry creates.
*Not able to make this addition? Clean out the closet! Literally.
Go through your closets and take the time to put all of the clothing, boxes, shoes that you don’t need access to all the time – and put them in to storage. When buyers see an already cluttered closet and laundry area this is a RED ALERT that you don’t have enough space in your lovely spacious home. This will tell them that they too will not have enough room in your home.
Exterior Lighting
Percentage of buyers who want this feature: 92%
Cost to install: $65 to $132 per fixture
Percentage of buyers who want this feature: 92%
Cost to install: $65 to $132 per fixture
Exterior Lighting
Illuminating a well-manicured lawn with exterior lighting can help grab potential buyers' attention before they even set foot in the front door. In fact, exterior lighting is the most-wanted outdoor feature, according to the NAHB. Options include spotlights, walkway lights and pendant lights.
Aesthetics aside, exterior lighting also serves as an added safety feature for your home. Motion-sensor lights, for example, turn on automatically whenever there is movement outside your house.
Energy Efficiencies
Percentage of buyers who want this feature: 90%
Cost to install: varies (appliances), $270 - $800 each (windows)
Energy Efficiencies (Appliances and Windows)
Buyers looking to limit utility bills will likely be drawn to properties with energy efficiencies, such as Energy Star-qualified windows and appliances.
Energy-efficient windows can trim heating and cooling costs by 12%, while individual appliances, such as an Energy Star-certified washing machine ($500 to $1,800), can save homeowners $45 a year or more on their utility bills.
Energy Star-qualified windows have an invisible glass coating, vacuum-sealed spaces filled with inert gas between panes, sturdier weather stripping than regular windows and improved framing materials -- all of which reduce undesirable heat gain and loss in the home. An Energy Star-certified dishwasher (ranging in price from $225 to $1,664 at Home Depot) uses soil sensors to assess how dirty your dishes are to minimize water use.
Patio, Backyard Haven
Percentage of buyers who want this feature: 87%
Cost to install: $950 per 120 square feet for a concrete patio
Patio, Backyard Haven
It's important to include value in the backyard area when prepping for resale. In today's housing market, outdoor living spaces are quickly becoming one of the most coveted home features. In South Florida, it is a large part of buyer consideration since we have year-round sunshine.
Most buyers see a house with a nice backyard and envision themselves sitting outdoors, entertaining, BBQ-ing, celebrating, etc.
Hardwood/Upgraded Flooring
Percentage of buyers who want this feature: 87%
Cost to install: $1,429 per 120 square feet of red oak flooring
Hardwood/Upgraded Flooring
Carpet has become more of a nuisance than a luxury for most buyers. Over 80% of buyers list carpeting as one of their "dislikes" when looking at a home. In South Florida, homeowners are replacing carpeting with wood grain tile, engineered wood too keep their home cooler and to minimize the allergens that cling to carpeting. Tile, stone and hardwood flooring offers a cleaner look, is easier to maintain and is more durable than carpet, which needs to be replaced every eight to 10 years.
Sellers on a budget may want to buy engineered wood flooring (which is a hardwood veneer wrapped around several layers of plywood, fiberboard and hardwood). The cost to install 120 square feet of engineered wood flooring is $1,239 -- about 15% cheaper than pure hardwood flooring.