Selling your home is like running for political office. You need to have your finger on the pulse at all times; you need to give people what they want. Only, instead of soliciting votes, you’re courting the highest number of competitive offers.
If you’re stuck in an outdated way of thinking (vinyl floors, closed floor plans and popcorn ceilings, e.g.), you might scare away prospective buyers, prolonging the property’s days on the market and driving down the price.
Home sellers take note. According to recent homebuyer polls, this is what people are looking for in 2023. And stay tuned below to explore how to leverage these insights for a successful sale.
What Homebuyers Want
Homebuyer trends move incrementally rather than radically. What was popular in 2021/2022 is mostly still trendy this year. (And it will probably continue to be evergreen in the coming few years). That is to say, if you’re planning on selling any time soon, consider the following homebuyer criteria.
Tranquil Outdoor Space
During the pandemic, we witnessed a sharp demand for outdoor space. Naturally, people felt cooped up. And a couple of years removed from the pandemic’s peak, homebuyers still value their outdoor space.
Lots of Natural Light
Natural light continues to attract homebuyers. Large picture windows, open floor plans, and sliding glass doors that merge indoor and outdoor spaces do exceptionally well on the market.
A Renovated Kitchen
Homebuyers still bee-line it for the kitchen at property viewings. They look for modernity over outmoded aesthetics, function over frills, energy efficiency and safety over old appliances.
According to polls, a commanding majority of homebuyers prefer hardwood floors. Carpet, vinyl, laminate and tile trail significantly behind.
A Main Floor Bathroom
File this under “ease of use.” Homebuyers want their new place to feel convenient and accessible. And a main floor bathroom is synonymous with those expectations.
How to Optimize Your Home for a Successful Sale
You can leverage these insights for a successful home sale. You won’t please everybody (you never can), but by implementing as many of these features as possible, you can engage a wider audience of prospects.
The first step, as always, is to partner with an experienced realtor. If you’re in Toronto, for instance, settle for no less than the best real estate companies in Toronto to coach you through the staging and marketing processes.
Next, consider the ROI for various renovations and cosmetic upgrades. In conversation with your quality realtor, weigh the benefits of renovating your kitchen, installing hardwood floors and – for a more in-depth transformation – knocking down unnecessary walls for an open-concept plan. You might also consider cosmetic upgrades like new paint and window treatments for an airier, brighter vibe.
Finally, tackle the landscaping and curb appeal. As mentioned, homebuyers put a lot of stock in outdoor areas. Sprucing up your front yard can boost curb appeal, establishing a winning first impression. Meanwhile, landscaping the backyard (or similar outdoor living area) allows buyers to envision quiet, pleasant moments enjoying the sunshine.
Just like a politician who’s been training their whole life for the public eye, prepare to beat the competition with a winning mixture of open features, trendy renovations and tasteful staging.