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Does your home have what buyers wanted most this year?

Our homes are important. It’s a minor takeaway from the COVID-19 pandemic, but it’s true, nonetheless. Living rooms have doubled as gyms, and dining rooms have moonlighted as office furniture. Some may even still be. Quarantining has changed how we view our homes, and therefore, changed what buyers are looking for in their new homes. After all, they may have to become a literal safe haven yet again.

Enough time has passed to be able to better gauge the shift in homebuyers wants due to COVID-19. From the National Association of Home Builders to your brokerage down the street, the real estate industry is adapting to those shifting demands. Maybe you’ve been considering renovations, or maybe you’re considering selling. Regardless, as a homeowner, it’s good to stay in the know about what buyers are looking for in a home.

Earlier this year the National Association of Home Builders identified the top features and design trends that buyers are wanting during COVID times. The top want – more space – reversed course on a four-year trend toward smaller homes, according to the association.

“The average size home remained flat at 2,486 square feet, while the percentage of homes with four or more bedrooms and three or more bathrooms rose to 46 percent and 33 percent, respectively— rising closer to 2015 peaks,” the report explained. This increase in number of rooms without an increase in actual square footage is proof that homeowners are wanting spaces within their home to be multifunctional, and are moving to homes that give them that flexibility.

But it’s not the only takeaway. Some of the most desired features for 2021, like homes with decks/ patios, are unsurprising given the times, but others also point toward increased time spent at home:

  • Laundry rooms
  • Exterior lighting
  • Ceiling fans
  • ENERGY STAR windows and appliances
  • Kitchen double sink
  • Walk-in pantries

This means that if you’re looking to downsize and/or have a number of these key features in your current home, it will likely sell quickly. The Gulf Coast is still experiencing a historic seller’s market in most areas, meaning more people are looking to purchase a home than there are homes available – and the ones that are available are moving quickly.

It also impacts you if you’re looking to do any renovations to make your current home a better fit for you. The NAHB research provides options that can add value to your property while also making it more livable for you. Of course, you should consult an experienced REALTOR® when considering any major renovations to your home to ensure whether that they would generate the return on investment you are looking to achieve. Whether you are inter- ested in selling, looking to do renovations, or just like to stay in the know, contact me with any questions.

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  • Buyer & Seller Tips
Posted on November 22, 2021