Real Estate

What Are the New Trends in Homes That Are Attractive to Buyers?

Diana Hill
Professional Real Estate Investor Instructor

We are seeing properties move fast. I heard on the radio yesterday that this is the fastest moving market since 2006. What are the trends that buyers are looking for and what must you do to make your property sell?

The amenities that buyers want these days are changing. Here are a few that the National Association of Home Builders (NAHB) have identified.

  • Smaller home management areas – not formal dens.  These home management areas are much like a home office but not as large or traditional.  They are being called a “pocket office” and they are located in a large pantry, near the kitchen or family room.
  • Laundry room near bedrooms – this makes things much more efficient.  In some new home construction they are even being put in the master bedrooms walk-in closet.
  • Shadow units – also known as “in-law quarters.”  These are units built alongside the main home and offer access to the main floor plan through a door.
  • Double master suite – also becoming more popular.  Typically, these suites are on opposite sides of the home or, in a two story house, one would be located on the first floor and one on the second.  These two options are becoming more important as we see more elderly parents living with their children.
  • Mixing of materials – creating a zen-like feel. Homes are using a mixture of materials such as metal, wood and stone which creates a modern look. Roof lines are also changing.
  • Kitchen the focal point – most important room in the house.  Open kitchens with large walk-in pantries and even a desk area are the norm today.
  • Outside living rooms – buyers want to bring the inside outside with a livable space to relax. They include room for a couch, chairs, coffee table and even a TV. We are seeing a move away from the outside kitchen.

So, above are some of the things to consider when renovating a property for retail sale.

What are some of the simple things that will detract a buyer from purchasing a property?  It is said that a buyer will often make a decision within seconds of seeing it. Picture the property through a buyer’s eyes. What do you want them to see in 10 seconds? Sometimes the positive things will be overlooked because of the following eyes sores:

  • Overgrown shrubs and weeds. All new landscaping isn’t necessary, just make sure what is there is groomed.
  • Chipped paint. You don’t want chipped paint anywhere but at the front door is the worst.
  • Torn screens. It is better to take off the screens than to leave on bad ones. Screens are very easy and inexpensive to have repaired.
  • Oil spots in the driveway. This is something that could deter a potential buyer from even coming in.
  • Missing or beat up molding around doorways. A little filler and a new coat of paint can do wonders.

These things can lead a potential buyer to feel the property has been carelessly maintained.

Here are a few things you can do to make the property appealing, without a huge remodel:

  • Make the kitchen the focal point. Even if the kitchen isn’t as described above, make an effort to make it inviting; cabinets clean (fresh coat of paint), appliance clean and working, fresh fruit in a bowl… you get the idea.
  • Have artwork down a long hall way. It helps to break up the monotony. It doesn’t have to be expensive, but coordinate the artwork with paint and flooring.
  • Make sure the bedrooms look like bedrooms. You want them to feel relaxing not cluttered or like a storage room.
  • Clear clutter

Great Fortune,

Diana Hill

This newsletter is written for educational purposes only. By no means do any of its contents recommend, advocate or urge the buying, selling or holding of any financial instrument whatsoever. Trading and Investing involves high levels of risk. The author expresses personal opinions and will not assume any responsibility whatsoever for the actions of the reader. The author may or may not have positions in Financial Instruments discussed in this newsletter. Future results can be dramatically different from the opinions expressed herein. Past performance does not guarantee future results. Reprints allowed for private reading only, for all else, please obtain permission.