Buying your new Alexandria, VA home with eventual resale in mind? Here’s what most buyers want…
Whether you’re buying a home in Alexandria, VA with resale in mind or making improvements to your current home before putting it on the market, it’s wise to consider what the majority of buyers want – even if they aren’t your own top priorities.
The National Association of Home builders surveyed more than 4,300 buyers and prospective buyers and published the results in their 2016 Housing Preferences Across Generations report. Their findings will assist builders in planning new communities, and will assist you in considering home improvement projects.
While it’s true that few remodeling projects return 100% or more on the investment, they do generally cause homes to sell faster, which can be a huge money-saving benefit if you’re paying mortgage payments, utility bills, and maintenance costs on a home you no longer occupy.
So what do the majority of home buyers want today?
92% want a separate laundry room. They want a place to “hide” the soiled laundry, to fold and stack the clean laundry, and to set up an ironing board when necessary. This was true for buyers of all ages.
90% want exterior lighting. This includes spotlights, walkway lights, and pendant lights. Buyers especially appreciate motion sensor lights as a security and safety device.
90% want energy efficient appliances and 87% are looking for energy efficient windows. They’re looking for ways to increase their comfort and convenience while lowering utility bills.
84% are looking for a home with a patio. Of course, a really nice back yard is a prerequisite. As more buyers embrace outdoor living, they’re drawn to everything from a concrete patio to a raised deck to a complete outdoor kitchen area.
82% prefer hardwood flooring over traditional carpeting. It’s easier to clean, and far more durable than carpet. It can also be refinished periodically for a whole new look at a relatively low cost.
80% prefer eat-in kitchens. This is especially true for families with children. For them, the kitchen often becomes the place where the family congregates both morning and evening.
These features will make your home sell faster, but what improvements will give 100% or more return on investment?
Strangely, the answer is doors. Entry doors and garage doors top the list of improvements that add more to the selling price than the initial investment.
Could that be because curb appeal sets the tone for what buyers “see” when they enter the home? Probably so.
If you’re thinking of making changes before putting your home on the market, get in touch. These are the results of a national survey, and they may or may not match our local market. I can tell you what buyers here in Alexandria, VA are looking for today.