Tuesday, December 31, 2019 / by Vanessa Saunders
Sellers take note: Ten features today's home buyers want most.
Kiplinger published some research recently after surveying home buyers and industry leaders about features they most want in a home. This info is of particular interest to home sellers considering whether to "upgrade" features in their home before they put it on the market. While cost to value ratios never increase the selling price enough to pay for the project, focusing on a few of these features where needed can help sell a home faster.
Laundry Room
Percentage of buyers who want this feature: 91%
Cost to install: $1,000 to $5,000 for a small-scale project
More than anything else, homeowners want a room other than the guest bedroom to stack all the clean laundry in until it finally gets put away. A separate laundry room tops the National Association of Home Builders' (NAHB) list of most-wanted home features by buyers.
Green Energy Efficient Appliances and Windows
Percentage of buyers who want this feature: 89%
Cost to install: Varies by appliance
Would-be buyers looking to limit utility bills will likely be drawn to properties with energy efficiencies, such as Energy Star-qualified windows and appliances.
Concrete Patio
Percentage of buyers who want this feature: 87%
Cost to install: $963 per 120 square feet for a concrete patio
Outdoor areas offer more living space without the cost of a large-scale home addition.
Ceiling Fans
Percentage of buyers who want this feature: 85%
Cost to install: $466 per fixture with light kit and remote control
In addition to improving a home's aesthetic, energy-efficient ceiling fans (ranging in price from $69 to $1,300 at Lowe’s) can also help lower cooling costs when used in conjunction with an air conditioner during the warmer months.
Garage Storage
Percentage of buyers who want this feature: 85%
Cost to install: $2,025 - $2,363 for 380 square feet
Buyers with growing families need lots of storage space.
Exterior Landscape Lighting
Percentage of buyers who want this feature: 85%
Cost to install: $65 per fixture
Illuminating a well-manicured lawn with exterior lighting can help grab potential buyers' attention before they even set foot in the front door.
Walk-In Pantry
Percentage of buyers who want this feature: 83%
Cost to install: Varies based on design
Home buyers with families know that the kitchen can quickly become overcrowded when there’s not enough space to store the essentials (think: canned goods, condiments and food storage containers). That's why many are including a walk-in pantry on their must-have list for potential homes.
Hardwood Floors
Percentage of buyers who want this feature: 83%
Cost to install: $999 per 120 square feet of red oak flooring
Hardwood flooring offers a cleaner look, is easier to maintain and is more durable than carpet, which needs to be replaced every eight to 10 years.
Walk-in Master Bedroom Closet
Cost to install: Varies based on design
While walk-in closets aren’t among the top demands of all homebuyers, they’re quickly gaining in popularity among first- and second-time homebuyers, according to a 2018 NAHB survey that focused on new buyers. A walk-in closet in the master bedroom ranked among their top five features.
Dine-in Kitchen
Cost to install: $1,000 - $10,000
Eat-in kitchens are also a must-have among first- and second-time home buyers. They’re especially attractive to families with children.
