Real estate is an industry that can vary widely from country to country, province to province and even city to city, but there are a few basic trends that carry over into most markets. Like those discovered in the National Association of REALTORS® 2013 survey on Home Features; the study worked to answer the question, what are buyers looking for in their next home?
So, what do buyers really want? Today’s buyers are willing to pay more a for a home that is what we like to call ‘move-in-ready’, a home that is completed enough so that all the buyers needs to do is move in and enjoy, no renovations or updates necessary! Keep in mind that all buyers are different, with different needs and wants, but the results of this survey can give us some insight into the mind of today’s average buyer. We’ve compiled a list of 5 things buyers are looking for in their next home:
- A Fireplace – 57% of buyers purchased a home with a Fireplace
- A Garage – 78% of buyers chose a house with a garage
- New Kitchen Appliances – 69% of buyers who bought homes with old appliances would have been willing to spend approx $1,800 more on their home purchase, if it had included new appliances
- Air Conditioning – 65% of buyers rated this feature as very important to their search, the most important out of all features on the survey!
- Rooms with the Highest Dollar Value – Buyers were willing to pay more for a home if it included a basement or an in legal suite
If you’ve been thinking about getting your home ready for sale by doing some renovation or updates than use this article as your compass for a direction on where you should begin, and which updates are likely to get you the most for your money.
If you’d like to know what your home is worth in today’s market click over to our Home Evaluation page and sign up for a FREE, no obligation Home Evaluation, we can help you decide whether this is the right time for YOU to list your home.