As you consider making home improvements; It can be difficult to know what features provide the highest return on investment. Today’s Home Buyers are willing pay more when they find special or unique features that fit their lifestyle, or the lifestyle they aspire to.
In addition to wanting a home that’s been updated with new Kitchen and Baths, they’re also looking for something that sets the home above the rest. In this article, we summarize some of the Top Features Home Buyers are willing to pay extra for, features that can set your home apart from the competition. In a recently published survey, there are a few features that help homes sell faster, but also sell for as much as 5.3% more when compared to similar properties.
Top 12 Trends Home Buyers Will Pay Extra For
OUTDOOR LIVING IS STILL A SOUGHT AFTER TREND
An Outdoor TV is at the top of the Buyer’s Wish List. A Well appointed Outdoor Living Area with all the Bells and Whistles, including Outdoor Kitchen and Living area with TV and Fire Feature. Flexibility is key; an outdoor space that can accommodate both a lazy afternoon with the family, but also a lively afternoon BBQ with Outdoor games or Entertaining on a Grand scale. Blurring the lines between indoor and outdoor living remains a popular and a sought after trend for Home Buyers.
PIZZA OVEN
The Party starts at home; the outdoor wood fired Pizza Oven continues to grow in popularity. Backyard Entertainers love this unique feature not only for the great pizza, but also for the fun they inspire. Buyers look for a unique touch, the tipping point that makes the home they want to buy more special than others.
OUTDOOR SHOWER
The Outdoor Shower has a number of cool benefits not the least of which is making your everyday routine extra special as you shower with nature. From a great spot to give Fido a bath, to the Spa like experience at home. The Outdoor Shower Trend is showing no sign of slowing.
KITCHEN ISLAND
The Kitchen Island is one of the most sought after features Home Buyers are looking for. The Island not only keeps the conversation flowing while dinner is being prepared, but also an elegant custom feature. An Island is multi-functional with added cabinet space and extra prep area on the counter. The Kitchen Island with seating blends the living space with the Kitchen offering a more casual lifestyle.
SOAPSTONE COUNTERS
Satin finish Soapstone Counters nudged out Quartz in popularity in 2023, but Quartz counters are still popular. The soft natural appearance adds warmth to the Kitchen. Each slab is unique, and because the stone is not porous, they don’t need to be sealed like granite or marble. They’re also naturally bacteria resistant, making them a desirable material.
BEVERAGE CENTER
Sleek and modern designs with glass doors that display the contents. The Beverage Center takes the pressure off your main Kitchen fridge while entertaining. They’re great looking and super functional, in addition to saving energy. The kids are opening this small fridge, instead of your main refrigerator multiple times throughout the day, as they go for a grab and go drink.
EAT IN KITCHEN
The Eat in Kitchen is not a new design idea, but it’s making a strong come-back with home buyers. For homes with limited space, the eat in Kitchen is a great solution. The secret is finding the best furniture for the space and the right arrangement. Even homes with plenty of space, the Eat in Kitchen offers a relaxed lifestyle for the family to gather.
STEAM OVEN
Double Wall Oven with a combination Convection and Steam. Adding the Steam Oven is more expensive than traditional double wall ovens, but home buyers see the advantage of the Steam Oven as more versatile; including a faster and healthier way to cook. Many brands are offering a traditional oven and steam oven combination
WALK IN PANTRY
Every Home Buyer is looking for storage and the walk in pantry offers a great solution. Beyond having the space to store canned and dry foods, the dilemma of storing large serving pieces and counter top appliances is in the back of every home buyers mind. A Walk In Pantry solves a lot of those storage problems including having everything one central location and out of sight.
PROFESSIONAL GRADE APPLIANCES
Premium, professional grade appliances with matching brand and finish are among the top feature Home Buyers want in the home they buy. While professional grade is more expensive than standard grade appliances, they’re also viewed as higher quality and offer a more custom built in look. Stainless appliances are still the favorite.
DEDICATED LAUNDRY ROOM
A separate Laundry Room with sink and extra storage is a feature Home Buyers want. The ability to keep all things Laundry in one place, and extra storage space for over-flow items is a huge benefit. A home with a dedicated Laundry Room versus another home in the same neighborhood that has the Laundry Room in the Garage or hall closet will be more desirable for Home Buyers.
PROGRAMMABLE THERMOSTAT
Also among the Features Home Buyers Will Pay More For, The Smart Home is becoming more standard and even expected in some price categories, but not all are equal. The connected home comes in wide variety of forms; many beginning with a programmable thermostat. The Nest Thermostat, probably the most recognized brand, has revolutionized how we live in our homes. They’re a favorite for Home Buyers and a worthwhile upgrade that can help cut your utility costs, while also giving you control from anywhere.
SUMMARY
While these home features are some of what Home Buyers say they want to find in their next home purchase; the return on investment is subjective, unique to each market and each home buyer. If you’ve got it, boast about it. However, installing an outdoor shower solely for resale for example, may not deliver the return you would hope. It’s the quality the home and overall trending lifestyle these features signal that a Home Buyer will pay extra for.
In 2023 affordability was the biggest hurdle for Home Buyers, especially 1st time Home Buyers. The home purchase budget has been constrained by high, and rising mortgage rates, forcing Home Buyers to prioritize “need to have” over “nice to have” features.
If you would like more information about what today’s Home Buyers are looking for, and what they’re willing to pay more for – contact me today. Let’s talk about your real estate goals and how they fit in this market.
