For years you have read that kitchens and bathroom renovations pay off the most when selling your house. This is true, however, today’s buyer has become much more practical and is placing more emphasis on energy efficiency. We have prepared a list of what buyers desire most when buying a new home which increase your chances of a successful sale. Here’s what’s getting the attention from buyers these days:
Energy efficient features
With skyrocketing fuel costs, buyers want energy efficient homes with low operating costs. According to an Oraclepoll Research survey of Ontarians, energy efficient features came in third only to price and location. Think beyond programmable thermostats and Energy Star appliances: buyers are getting excited about unsexy things like tankless water heaters, solar panels, low emission products and argon filled windows.
Updated mechanics
Insurance companies have clamped down and will either charge a buyer a hefty premium to insure a house with old mechanics or not insure it at all. Knob and tube wiring, for example, has gone the way of the rotary phone and the VCR. If yours is a first time buyer home, and it has more than 20% knob and tube wiring, it is advisable you remove it. Many first time buyers don’t have the funds to remove it after they take possession, in order to satisfy the home insurer, therefore, it will put you at a disadvantage when marketing your home. In addition, if your home has an old roof, boiler or furnace, air conditioner, windows and lead pipes, it will make it difficult to sell for top dollar.
Luxurious bathrooms
Coveted bathroom features include: whirlpool tubs, heated floors, separate shower enclosures, multiple showerheads, generous linen closets, dressing area, double sinks and multiple bathrooms.
State of the art kitchen
Stainless steel appliances, ample cabinetry including large pantries, breakfast bar and center islands that encourage family gatherings and open to the living space are very popular. Environmentally friendly stone and glass countertops and backsplashes and energy efficient wine fridge, refrigerator, dishwasher and microwave drawers will grab buyer attention.
Built-in closet organizers
Regardless of the size of your closets, make the most of them with built-in organization systems. There are many options available today and many companies allow you to customize your closet space.
Environmentally friendly finishes and materials
Hardwood floors are always popular, but some buyers prefer eco-friendly alternatives. Bamboo is one of the trendiest new flooring options because it’s considered a renewable and sustainable source, as is cork and natural linoleum. Likewise, health and environmental concerns are influencing buyers to look for homes decorated with natural materials and finishes such as paints low in VOC (volatile organic compounds), window coverings made of cotton, linen or wood.
Luxe touches
Glass tiles, upgraded cabinet hardware, classy lighting and upgraded fixtures will make buyers take notice. Luxurious materials don’t need to be expensive: shop carefully and install them where they will have the most impact.
Specialty rooms
The living room is practically passé, but mention a well-fitted media room/home theatre or exercise room and buyers’ wallets start to pop open. Consider finishing your basement or converting it to incorporate these trendy spaces which could seal the deal.
Spacious utility rooms
A well organized and attractive laundry room – preferably not in the basement – is becoming more popular. Laundry centers lend themselves to multiple purposes, serving as craft/serving areas, and/or gift wrapping stations.
When deciding which room to renovate or which feature to incorporate in your home, it’s advisable not to over improve your house to the point where it will become the most expensive house on the street.
