Purchasing a home is the biggest investment most people will ever make, so they tend to take a very close look at the positives as well as the negatives of any given property that they’re interested in. Even when in the midst of a sellers market, where supply is low and competition is high, buyers usually gravitate towards properties that have their most favorite features. In today’s post, we’ll take a look at some of the most desired features homebuyers are expecting in 2021.
1) Dedicated Laundry Room
90% of buyers consider a laundry room to be essential when it comes to purchasing a home. In fact, the National Association of Home Builders (NAHB) released the results of a study which showed that “a separate laundry room” was the number one desired feature that buyers wanted. Experts believe that the reason why laundry rooms are regarded as being a must- have feature for new home buyers is due to the fact that they help to add functionality and convenience to a property.
2) Great Location
Data suggest that the most desired kind of home location is the suburbs. One the other hand, most millennials tend to purchase homes in urban settings. In general, location has always been one of the most important aspects of selling a home. Regardless of how luxurious a property may be, if it’s located within close proximity of a main road, near a high traffic facility such as a mall, or within a crime infested area, it will not sell for as much as a home that has a bit more distance from those places. For many buyers, location is the determining factor when it comes to purchasing a home.
3) Large Yard
Most home buyers want a home which features a large yard. Young parents typically envision their yard as a place where their children can play, guests can be entertained, and a garden can flourish. As such, most buyers consider a large yard as a huge selling point.
4) Energy Efficiency
Another study commissioned by NAHB and conducted by GuildQuality demonstrated that energy efficiency is one of the top features buyers are willing to pay more for. This can entail everything from a house which has energy efficient lighting, energy efficient appliances, excellent insulation, and triple glazed windows which help to lower utility expenses. Additionally, buyers always consider how insulated the attic, garage and walls of the home are before making a decision.
5) 2-Car Garage
Data suggest that as many as 80% of home buyers consider the garage to be a major determining factor when it comes to purchasing newly constructed and older homes. Even though a Braun Research study showed that over 90% of buyers value closet capacity more than basement or attic storage, garage space was ranked a close second. What this means is that buyers actually value garage capacity more than attic or basement capacity. This comes as no surprise when you look at the fact that most households feature multiple car owners, and the garage operates as an additional storage room for tools and other items.
6) Smart Home Technology
Statistics show that smart home technology is trending. As it stands, over 83 million households in the US feature at least one smart home technology. Modern day homebuyers value smart home technology because it can help to improve a home’s security and reduce energy expenses.
These are just a few of the features buyers are looking for most right now. If you have a home on the market with any of the amenities listed above, be sure to emphasize them as a selling point when negotiating with potential buyers. A good real estate agent will be able to help you highlight the most desirable parts of your home so that you get more return on your investment.