If you are thinking of selling your home any time soon, you should know the top features that buyers are coveting at this time.

According to Remodeling magazine’s 2020 Cost vs. Value report, sellers should know that most remodeling efforts increase home values by 50% to 80% of the average project’s costs. If you are looking to get the most return on your investment, make sure your remodeling focuses on features that most home buyers are looking for.

Top Five Features

In an article written by Andrea Browne Taylor (Kiplinger: April 27, 2020), here are the top five things home buyers are looking for in today’s real estate market. For a full listing of features go to https://www.kiplinger.com/slideshow/real-estate/t010-s001-home-features-that-buyers-want/index.html

1. Laundry Room

• Percentage of buyers who want this feature: 91%
• Cost to install: $1,000 to $10,000 for a small-scale project

More than anything else, homeowners want a room other than the guest bedroom to stack all the clean laundry in until it finally gets put away. A separate laundry room tops the National Association of Home Builders’ (NAHB) list of most-wanted home features by buyers.

2. Energy Efficiencies – Appliances and Windows

• Percentage of buyers who want this feature: 89%
• Cost to install: Varies by appliance

Would-be buyers looking to limit utility bills will be drawn to properties with Energy Star-qualified windows and appliances. Energy-efficient windows can trim heating and cooling costs by 12%, while individual appliances, such as an Energy Star-certified washing machine, can save homeowners $45 a year or more on their utility bills. Replacing an existing clothes dryer with an energy-efficient version could save as much as $245 over the appliance’s lifetime.

Energy Star-qualified windows have an invisible glass coating, vacuum-sealed spaces filled with inert gas between panes, sturdier weather stripping than regular windows and improved framing materials — all of which reduce undesirable heat gain and loss in the home. An Energy Star-certified dishwasher uses soil sensors to assess how dirty your dishes are to minimize water use. Once installed, sellers should be sure to play up these money-saving features in their home listings.

3. Patio

• Percentage of buyers who want this feature: 87%
• Cost to install: $1,024 per 120 square feet for a concrete patio

Due in part to COVID-19 sheltering mandates, home outdoor living spaces have become the most coveted outdoor home feature. Nowadays, home buyers envision everything from an outdoor fire pit area with seating to a backyard wet bar.

4. Ceiling Fans

• Percentage of buyers who want this feature: 85%
• Cost to install: $473 per fixture with light kit and remote control

In addition to improving a home’s aesthetic, energy-efficient ceiling fans can also help lower cooling costs when used in conjunction with an air conditioner during the warmer months.

Energy.gov also recommends that ceiling fans only be used in rooms with a ceiling height of at least eight feet. The fans work best at that height and when they’re hanging 10 to 12 inches below the ceiling.

5. Garage Storage Space

• Percentage of buyers who want this feature: 85%
• Cost to install: $2,025 – $2,363 for 380 square feet

Buyers with growing families need lots of storage space. Carving out some space in your garage to help keep clutter out of the main level could help your bottom line. Unlike an attic or a backyard shed, the garage is accessible, making it easier to transport items such as tools, patio chairs or boxes to and from other parts of the house. The installation cost listed here includes adding cabinetry and shelving, peg wall boards for tool storage, overhead lighting and additional electrical circuits.

Bottom Line: Focus on home improvement projects that provide a good balance of fulfilling your everyday needs and will also be desirable in the eyes of buyers.

St. Petersburg Communities

If you’re interested in any of these of communities or live in one of them and are thinking of selling, call Estelia today!

Allendale Terrace
Bahama Shores
Bayway Isles
Coquina Key
Crescent Heights
Crescent Lake
Downtown
Greater Pinellas Point
Historic Kenwood
Historic Old Northeast
Historic Roser Park
Historic Uptown
Isla Del Sol
Old Southeast
Placida Bayou
Snell Isle