Do you know what home shoppers are looking for? And how badly they want these things? When you’re ready to make upgrades on your home, it becomes important to know what home shoppers value most. Here’s data collected from current home shoppers about the most sought-after features in a home. This can help you decide what’s important to upgrade, or not upgrade, before you sell.
The Most Sought After Features in a Home Are:
92% of buyers want a laundry room. The investment to install one could run you $1,000 to $10,000 depending on scope of project. Only deep in a city environment in a home with few bedrooms would a laundry room not be considered a necessity.
Walk-in Closet in Master Bedroom
60% of home shoppers are willing to pay extra for a walk-in master closet, up to $1350. Walk-in closets are getting more and more common, and are now almost expected in any master bedroom.
55% of shoppers say they’d pay extra for granite countertops, up to $1620 more than they would for a home without them.
92% of homebuyers say they want exterior lighting. Installing it could cost you about $65 to $132 per fixture.
New Energy Efficient Appliances
90% of buyers say they want new energy efficient appliances, although they consider it more of a requirement than a bonus. Only 69% of home buyers willing to pay more for a home with these than without. Some are willing to pay up to $1840 extra, or would expect to pay that much less to forgo new efficient appliances.
Stainless Steel Appliances
41% of home shoppers are willing to pay more for a home with stainless steel appliances. Up to $1,850 more.
48% of home buyers say they’re willing to pay more for a kitchen with an island food preparation area. They feel it’s worth an extra $1370.
Welcoming Patio or Deck
87% of buyers say a patio or welcoming outdoor seating is something they’re looking for in a home. For a concrete patio it can cost about $950 per 120 square feet to lay the pad.
87% of home buyers say they want hardwood floors, but only 54% say they’re willing to pay more. For the gap, this is just a “nice to have”. For those who really want them, they’re willing to $2,080 extra to get them. It can cost $1,429 per 120 square feet of red oak flooring while 120 square feet of engineered wood flooring is $1,239.
Garage Storage or Other Dedicated Storage Space
86% of homebuyers say they want this extra storage within the home structure (not in a shed or barn). The cost to install more storage varies greatly from garage expansions to room add-ons, but a 380-square-foot space can run about $2,025 – $2,363.
82% of home buyers are looking for an eat-in kitchen. 40% are willing to pay up to $1770 to get it. Turning your kitchen into an eat-in kitchen, or one that incorporates an eating area, can cost anywhere from $1,000 – $10,000.
One or More Fireplaces
40% of homebuyers say they’re willing to pay up to $1400 extra to get fireplaces. Unfortunately, fireplaces almost always cost more than that to add to an existing house. If you want an additional fireplace and aren’t moving soon, it’s good to know that you can install it and be rewarded with a higher selling price after using it for a few years.
Home Less Than 5 Years Old
40% of buyers are willing to pay more for a home less than 5 years old. Up to $5,020 more. Of course you can’t make your home younger, but if your home is new, you can be sure to sell before the 5th year to get the best price.
Ensuite Master Bath
49% of home shoppers are willing to pay extra to have an ensuite master bath, otherwise known as a bathroom connected directly to the bedroom and inaccessible from common areas. Buyers are willing to pay an $2030 for this, although this may not be an easy upgrade to make on your home.
Central Air Conditioning
69% of home buyers are willing to pay extra for central air conditioning. Those surveyed say it’s worth an extra $2520 to them.
Energy Efficient Windows
90% of homebuyers want a home with energy efficient windows. Upgrading your windows can cost $270 – $800 each. Windows can be double walled, tinted, reflective or any number of features that make them energy efficient by increasing their insulator properties.
89% of buyers say they want ceiling fans. It costs about $631 per fixture with light kit and remote control, which is about standard these days.
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