Top Five Features Buyers Want in their New Homes

While property renovation projects should enrich your life and that of your family while you live in your home, it’s important to cast an eye toward the future and which features buyers will most covet when you do decide to sell. Whether you’re making a living flipping homes or are just researching which are the wisest home improvement projects in a world acquainted with COVID-19, it’s useful to first understand the demographic of the most active buyers on the market. During the second half of 2020 and into the foreseeable future, millennials and first-time homebuyers are expected to comprise the majority of buyers. Some features most prized by this group have remained the same, but the pandemic has emphasized others. Read on for the top five features the most active group of buyers are looking for as they search for their new homes!

1.) Open Floor Plans

Pandemic or no, the open floor plan has remained consistently en vogue with millennials and first-time homebuyers since it was first popularized. Formal dining rooms and compartmentalized layouts are being phased out, since younger homeowners often entertain in a way that requires freedom of movement and easy transitions between the kitchen and living spaces.

2.) Energy Efficiency

Energy Star-certified windows and appliances aren’t anomalies in today’s housing market inventory. Buyers have come to expect energy efficiencies like these. If you don’t already have energy-efficient appliances but are getting ready to list your home, consider in investing in a new washer and dryer before it hits the market. It may seem like you’re just throwing money away by installing brand new appliances in a home you’re about to sell. But, if your REALTOR®️ can play up the money-saving features of your new appliances in the listing, you’ll very likely be able to put that money right back into your pocket...and then some.

3.) Home Office

This feature was steadily becoming a key selling point for millennials and first-time homebuyers even before the onset of the Coronavirus. But, since the pandemic has necessitated working from home for millions who were unaccustomed to it, a private home office is quickly becoming one of the most desirable (and often required) features buyers are looking for as they tour homes on the market.

4.) Smart Home Technology

In 1999, millions of millennials saw a Disney Originals movie called “Smart Home,” and it gave them their first taste of what would become the new normal in home design. Today, modern robots actually come in the form of natural language processors which power automated devices, such as Amazon’s “Alexa" or Google Home. These devices can control nearly every aspect of a modern home—appliances, heating systems, lighting systems, garage doors, and more! Even by simply installing a Nest doorbell, you can boost the appeal of your home to a generation who’s willing to pay more for that kind of technological integration.

5.) Laundry Room

We left this one for last on the list because it’s statistics are the most surprising. In a recent study done by the national Association of homebuilders, 91% of buyers want a separate laundry room! Potential buyers will see the ability to keep clean clothes stacked neatly in a separate room until they can be properly put away as a godsend. If you don’t have an existing laundry room, installing one in the basement is the easiest and cheapest method, costing an average of $1,000.

When "shelter-in-place" measures were first implemented, the real estate market experienced a lull of uncertainty. But, after months of being cooped-up in homes they were already unsatisfied with, buyers are more than ready to tour properties and find “the one.” The real estate market during the second half of 2020 is expected to flourish, and we couldn’t be more excited to help sellers maximize their home’s potential profit! If you’re considering listing your home and could benefit from help with any of the above projects, our VNTG Home Restoration team would be honored to put our experience to work for you. Reach out on our website, or give us a call at 216-685-7555 to discuss how we can help you live beautifully!