In a real estate market where the inventory is low, it’s normal to think homebuyers might be willing to give up a few desirable features in their search in order to make finding a home a little easier. But homebuyers are still willing to spend big on homes with quality finishes in sought-after neighborhoods.
Homebuyers Want a Laundry Room
More than anything else, homeowners want a laundry room, according to the National Association of Home Builders’ (NAHB). Having a separate room for washing and folding clothes helps keep the mess out of your living.
If you don’t have a laundry room and want to add one, the basement is usually the easiest and cheapest place to put it, it can cost as little as $1,000. Homeowners who prefer a laundry room or laundry closet closer to the bedroom can expect installation to cost around $10,000.
Patio or Deck is a Top Selling Point
Homebuyers are searching for a home with an outdoor living space, either a deck or a patio. Community areas are often common amenities in new neighborhoods. The National Association of Home Builders reported that off the roughly 876,000 single-family homes started in 2018, 59.4% came with patios…This is the highest the number has been since NAHB began tracking the series in 2005.
Homebuyers Want a Garage
The National Association of Home Builders (NAHB) recently released an article about new single-family homes, and the data reveals…
- 64% of new homes offer a 2-car garage
- 21% have a garage large enough to hold 3 or more cars
- 7% have a 1-car garage
- 7% do not include a garage or carport
- 1% have a carport
Energy Efficient Appliances and Windows
Buyers looking to limit utility bills will be drawn to properties with Energy Star-qualified windows and appliances. Energy-efficient windows can trim heating and cooling costs by 12%. An Energy Star-certified washing machine can save homeowners $45 or more a year, and an energy-efficient clothes dryer could save as much as $245 over a lifetime.
Energy-efficient ceiling fans can also help lower cooling costs when used in conjunction with an air conditioner during the warmer months. Ceiling fans create a wind-chill effect that helps cool the people sitting in the room. Homeowners should be able to raise the thermostat level by four degrees without a reduction in comfort while the fan is in use, according to Energy.gov.
Homebuyers Will Pay More
Homebuyers are looking for additional spaces (laundry room, patio, garage) in their home as well as the home being energy efficient. If you’re a homeowner thinking of selling a house with these amenities, buyers are willing to pay more for these key features. Let’s get together today to determine the current value and demand for your home. Contact a real estate agent at Wenzel Select Properties today! Our team of professionals will help find the exact fit for your individual or family lifestyle, whether it is selling, purchasing, or renting a new home.