What Homebuyers Want this 2023
The pandemic in 2020-2021 and the housing market shifts in 2022 has shaped the choices of homebuyers. In the report of HomeLight, it revealed a surge on the emphasis of affordability where 92% of buyers with more options have been forcing sellers to lower their listing price. On the other hand, the report of NAR in 2022, it showed that 88% of homebuyers purchased a previously-owned home. If you’re looking into selling your home in the future, read below what homebuyers may want this 2023.
Open Floor Plan
The open floor plan is still undeniably the sought-after home style of home buyers. The ability to use multi-purpose spaces that may be used as well in socializing makes it easier to entertain parties and get-togethers. It also offers benefits like better lighting and better use of square footage.
Buyers want an open layout between kitchen and dining room. Others want an open flow between dining room and family room. While there are buyers who prefer an open floor plan between the kitchen and family room.
A separate laundry room is one of the most-wanted home features by buyers.
Storage features would be worth adding to your homes as storage is a major concern for home buyers. Here are some suggestions:
- walk-in pantry
- kitchen cabinetry
- garage storage like wall shelving, cabinets, and hooks
Front Porch and Covered Back Patio
Popular among buyers are front porch and covered back patios. Backyard decks have gained popularity, too. The added functionality, design, curb appeal, and ability to have outdoor entertainment amenities are features homebuyers want. Take note as well that the exterior lighting is rated highly by buyers more than any other exterior home feature. So update your exterior lighting or outdoor living areas.
Energy efficiency is a priority in home search of homebuyers. Here are top features buyers want in relation to energy efficiency:
- ENERGY STAR-rated windows
- Energy-efficient lighting such as LED bulbs
- ENERGY STAR-rated appliances
Neutral colors such as whites, grays, and cream on your walls give buyers one less thing to do upon moving. Using natural tone colors can match whatever type of furniture pieces or decorations the buyer brings into his new property.
In addition to natural tone colors, buyers want hardwood floors in living areas.
Your local real estate market may have a different taste and requirements. It is important to know your local real estate market before you invest your time and money in a home improvement project. It is best to talk to a real estate agent to get information about what buyers in your area want.