Lessons from the Pros

Real Estate

Trends for Homes in 2014

Trends change every 10 years, historically. But as with everything else in this world, the trends change even more quickly now. Trends for home in 2014 are all focused on the buyer.  Here is a list of amenities that buyers want as identified by National Association of Homebuilders (NAHB):

  • 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 are often located in a large pantry, near the kitchen or in a family room.
  • Laundry room near bedrooms – this makes things much more efficient. In some new home construction they are even being built in the master bedroom walk-in closets.
  • Shadow units – also known as in-law quarters. These are units that are built alongside the main home and offer access to the main floor plan through a door.
  • Double Master Suites – 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 – creates a Zen like feel. Homes are using a mixture of materials such as metal, wood and stone which creates a modern look. Designers are calling this effect “Warm and Hard.”
  • Roof lines are also changing.
  • Kitchen as the focal point – the 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 outside inside, making it 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. But what are some of the simple things that will detract from a property? It is said a buyer will often make a decision within seconds of seeing it. Picture the property through a buyers eyes. What do you want them to see in 10 seconds? Sometimes the positive things will be overlooked because of the following eye sores:

  • Overgrown shrubs and weeds. All new landscaping isn’t necessary, just make sure what is there has been groomed.
  • Chipped paint. You don’t want chipped paint anywhere but especially at the front door as that 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 door ways. 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.

What are a few things you can do to make the property appealing?

  • 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), appliances clean and working, fresh fruit in a bowl, you get the idea.
  • Have artwork down a long hall way. It helps break up the monotony. It doesn’t have to be expensive but coordinated to the paint and flooring.
  • Make sure the bedrooms look like bedrooms. You want them to feel relaxing not cluttered or a storage room.

When selling a home, taking all these suggestions into consideration will likely ensure a faster, more profitable transaction.

Great Fortune,

Diana Hill


DISCLAIMER 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.

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