As autumn approaches, all signs point to the seller’s market sticking around. For sellers, it’s essential to know what buyers are looking for when selling your house. Certain features are in more demand than ever before and can add value to your home and speed up the selling process. More significantly, some house features that were once rarer are becoming common and necessary selling points. Keep reading for the key features that homebuyers are searching for in homes in fall 2021.
1. Home Office Spaces
Last year, the COVID-19 pandemic altered the way homeowners viewed their living spaces. Having comfortable and usable spaces both outdoors and indoors is a top priority for many current and potential owners.
For those of us who have to work remotely or have children who participate in remote learning, our homes have taken the place of office workspaces. Many are now finding that the home is a great space to get work done in—maybe even better than the office—granted that there is the space for it. Space for a home office is now something many buyers consider when checking out a home. Ideally, home office spaces will be separate from the bedrooms (or any other room).
2. Outdoor Spaces
Since many of us have spent more time indoors this past year, the desire to get outside has increased. Homeowners are more eager to have comfortable and usable living spaces outdoors as well as indoors.
Outdoor areas rose in popularity among renovating homeowners from 2018 to 2020 by 6%. Among the specific improvements, 26% of projects were directed toward exterior upgrades such as decks and balconies, with homeowners investing 25% more on deck and porch upgrades than in 2019.
According to the National Association of Realtors, outdoor kitchens have become popular during quarantine due to restrictions that kept people from eating out at restaurants or enjoying food at indoor public spaces. In an expert survey conducted by Fixr, 61% said outdoor kitchens are the most popular outdoor living addition in 2021, and 48% said a porch and patio combination is what most buyers desire when it comes to choosing an outdoor space. This is a popular combination because a porch can add to a home’s curb appeal while the patio offers a more private, extended living space.
3. The Availability of High-Speed Internet
After 2020, people have found themselves working more from home, transitioning to entrepreneurship with online businesses, or simply spending more time at home relaxing. One study found that only a couple of weeks of the COVID-19 pandemic drove broadband usage traffic growth up a year’s worth. With more people moving or wanting to move to rural areas, high-speed internet is increasingly needed to accommodate people’s work and lifestyles.
In addition to broadband, smart home technology purchases are staying on the rise. More people purchased products like security cameras, light fixtures, and speakers or sound systems for their outdoor spaces in 2020 than they did in 2019.
If You Can’t Sell, Renovate!
For homeowners who aren’t in the position to sell, they are renovating their current homes to fit their needs. Consumer spending on home improvement projects has seen an increase throughout 2021. According to a study done by houzz, home renovation spending grew 15% from 2019–2020. Given the popularity of fixer uppers the past few years, the home renovation bug isn’t likely dying down any time soon.
Wondering what some of the top renovation projects are? Creating larger kitchens is a top priority for renovators. Major kitchen remodeling spending grew 14% from 2019 to 2020.
If you have home renovation projects on the mind, you’re not alone. Internet searches on DIY home improvement projects more than doubled from 2020 to 2021. Home improvement projects are a great way to freshen up your home, provide a much-needed upgrade, or give your home’s value a boost.
If you’re looking to sell your home, our agents at Coldwell Banker Elite are here to help! Reach out to one of our local agents today to get started!