If you plan to sell your home in the new year, you’ll want to know what is at the top of the typical home buyer’s wish list for 2021. The market is extremely competitive right now. In many parts of the country, the inventory is very low but the demand is sky high. Many offers are being accepted well over asking price, with buyers lining up for showings and open houses, eager to shell out more money than the family next to them.
To get highest and best for your home, you’ll need to up your game and give home buyers what they want. Before you put your house on the market, you may want to consider doing a renovation that could get you the most bang for your buck. Most remodeling projects, according to Remodeling magazine’s 2020 Cost vs. Value report, could increase your home value by up to 80 percent of the average project’s costs. It may be worth your while in the end to tackle a renovation first to increase buyer attention.
Here’s what buyers want most heading into 2021.
1. Energy Efficiencies (Appliances and Windows)
Buyers are looking to minimize their utility bills and will gravitate towards Energy Star-qualified windows and appliances.
Energy-efficient windows, for example, can cut heating and cooling costs by 12 percent, while appliances, such as Energy Star-certified washing machines, can save $45 a year on utility bills, according to Kiplinger.
2. Laundry Room
People don’t want to do laundry crammed into a guest bathroom any longer. They want their own dedicated space for washing, drying, folding, ironing, organizing, etc. Potential buyers view a laundry room as a big benefit when checking out homes. If you don’t have one but would like to add one, the basement is an ideal spot because the utility lines are already in place. You can probably add a simple laundry room in the basement for about $1000.
3. Outdoor Living Space
Don’t forget about sprucing up the backyard area before putting your house on the market. Outdoor living spaces are now the most coveted outdoor home feature. If buyers see an expansive patio with patio set, separate seating areas, fire pit, wet bar, outdoor kitchen and more, they will start to envision themselves there in the warmer months, relaxing and entertaining with friends.
4. Exterior Lighting
Grab a buyer’s attention by illuminating your well-manicured lawn and façade with exterior lighting. As the second most-wanted outdoor feature, you have many options available to you, such as walkway lights, spotlights, motion sensor lights and pendant lights. In addition to aesthetics, you can boost your property’s nighttime safety.
As a seller looking ahead to 2021, you can take these suggestions and increase the selling price of your home just by making some modifications.
Contact Berkshire Hathaway Premier Properties
Whether you’re a buyer or a seller looking to make a move in the new year, contact Berkshire Hathaway Premier Properties today at 832-626-4889. We can connect you with the agent to fit your needs.