WHAT ARE TODAY'S HOME BUYERS LOOKING FOR?
Category Residential Property News
You are about to list your property on the market. The pressing question is: What exactly are today's discerning buyers looking for?
Our seasoned Wakefields property practitioners have identified the top three requests that have remained consistent over the years. With the impact of the COVID-19 pandemic, buyers now prioritize homes that cater to leisure, work, entertainment, and exercise, considering the emphasis on remote work and limited office hours, as well as a desire to avoid lengthy commutes.
Understanding buyer preferences in your area is crucial before deciding where to invest your money. While repairs and decluttering are essential, it's important to determine which adjustments, upgrades, and modernizations are worth the expenditure.
The top three sought-after features are:
- Granny flat or work-from-home potential;
- Open plan and appealing kitchen flowing into living space;
- Maximizing light, air, and flow from indoors to outdoors.
Additionally, partial or full off-the-grid options are highly desirable.
Major structural alterations are generally not recommended unless they are truly transformative and cost-effective. Instead, focus on cost-friendly changes that can make a significant impact.
Here are some key considerations:
- Emphasise bright and well-lit spaces by removing obstructions and enhancing luminosity. Streamline the space, use light-coloured paint to enhance brightness, and seek inspiration from platforms like Pinterest.
- Update the kitchen by opting for a unifying colour scheme, repainting or replacing cabinet doors, updating countertops, and adding modern light fixtures.
- Ensure a seamless flow from the living area to the outdoor space by removing hindrances, considering sliding or fold-back doors, using light-coloured paint on door frames, and incorporating more glass.
- Rejuvenate the patio or lawn by refreshing furniture, adding lighting, and considering rejuvenating treatments.
- For accommodating remote work, freshen up staff rooms or granny flats with a fresh coat of paint and replace worn-out fixtures with contemporary alternatives. Refresh grouting in bathrooms and showers and consider resealing bathtubs and basins for a polished look.
- Enhance the appeal of a study with a coat of paint, updated flooring, and lighting fixtures.
Remember that while refreshing and modernizing your property is important, it's essential to stay within a reasonable budget and not expect a full recovery of the funds invested. Engaging in discussions with a trusted property practitioner is highly recommended to maximize your property's attractiveness and marketability.
Author: Haydn Wakefield
