5 Features That Home Buyers Are Seeking Out
With tastes changing constantly, real estate agents have to stay on top of things in order to understand what home buyers are looking for in 2019. With millennials entering the market, there has been a paradigm shift, both in terms of how they approach home buying (relying on the internet for research) but also in terms of their preferences. Understanding the features that homebuyers are interested can help seal the deal if they are showcased properly.
Technology and Smart Homes
Technology might not have played much of a role among the last generation of home buyers, but nowadays, it’s an important feature that has impacted the real estate industry. With the IoT (Internet of things) gaining ground in all aspects of modern life, individuals looking to buy a home are looking for smart home features. If showcased well, technology can play a huge role when trying to attract millennials .
There are even cases where the appeal of a home diminishes if the mobile carrier’s signal is not strong enough or if there are not a lot of internet service provider options available. In addition to that, home buyers look for technology involving automated or voice devices designed to control the lighting systems, garage doors, appliances, etc. As of 2019, we are even seeing people purchase real estate with Bitcoin.
Large Kitchen
While typically the living room was seen as a place to hang out for the last generation, nowadays, the kitchen is seen as the center of attention, hence the need for big kitchen areas. The kitchen is not only seen as a place to cook, and as such it’s important for the area to be not only practical but also stylish – flowing with the other rooms in the house, especially the living room. Integrated appliances with stylish designs are a must, which is why putting the spotlight on the kitchen when trying to sell a house is ideal.
Updated Bath and Kitchen
Fixer-uppers are not an ideal choice among millennials. This is due to the fact that renovation takes time and money that they might not have, and as a result, they opt for homes that are newly constructed or that don’t require renovations. The kitchen and bathroom have to be in top shape and updated, due to the fact that those areas are the most expensive ones in terms of updating. Young home buyers can’t afford to put their money into upgrading the kitchen and bathroom, given that their savings went towards the down payment.
Location
Location has always played a major role among home buyers, but it plays an even bigger role with the new generation. Millennials prefer to be in a place that has access to metropolitan areas, has a great walk score and that is close to their place of work. While the location can’t be changed and the seller can’t do anything in that sense, it’s important to highlight the positive aspects of the current location. Today's homebuyers will do their due diligence beforehand and will come well-researched, but sellers and/or agents can detail certain aspects that cannot be researched, and as such put a positive light on the location of the home.
Home Office
Given that millions of people work from home – over 13 million in the United States to be more precise – a home office is an important aspect among home buyers. With technology allowing more and more people to work at home, having a dedicated place where they can focus on their work is highly important when trying to sell a home. A work space can be arranged during the staging phase, with a spare bedroom being turned into a home office – with this being a budget-friendly solution that can increase the appeal of the home for many home buyers.
Other features and trends that are of interest to home buyers are the storage capacity and the house’s energy efficiency. In addition, open floor plans are very attractive, with millennials preferring an open space that can be shaped to their preference rather than a structure with very defined areas.
For more information on what may help sell your home, reach out to your local trusted Realtor today!
