Are you thinking of putting your home on the real estate market? Before you list, renovate for a successful sale, with these top five improvements most coveted by prospective buyers.
A Modern and Open-Concept Kitchen
The kitchen is a great place to start when planning a renovation. New home buyers are not simply looking for an updated kitchen, but one with a modern design. Today’s home buyers also tend to value open-concept layouts and quartz counters over granite. (Granite is still a popular option but Quartz is quickly becoming a highly-sought alternative.)
Most trendy new kitchen overhauls will have large islands that double as dining space; this is a popular trend in both detached homes and condos. The island should function as both a cooking space and eating/entertaining space with hidden shelving underneath – it’s a feature you’ll find in many newly renovated Toronto houses.
Lots of Storage Space
As open space is so highly coveted among today’s home buyer, ample storage room that makes it easy to declutter the home is a crucial aspect. New home buyers are looking for creative storage cabinets, big pantries, linen closets and a mudroom. Beyond just in-house storage, many are also looking for two-car garages as most families now own more than one vehicle. A dedicated laundry room tops the list for most desired storage space, according to 92 per cent of surveyed buyers. Currently, many older Toronto homes for sale lack this feature and can benefit greatly from this upgrade.
When creating new storage space with a small home, think outside the box on potential alternatives methods to increasing storage space. For instance, if the master bedroom doesn’t have a walk-in closet, use shelving units that can be pulled out to increase the amount that can be stored.
Hardwood floors are the new standard for homes, especially on the main floor. Hardwood flooring looks especially beautiful in an open floor concept as it creates a strong flow. They are also generally easier to deal with in terms of cleaning and maintenance, so it has become a popular choice among new home buyers. Often with older homes, the carpet is extremely hard to clean and the new owners opt to replace them completely.
The ability to save money is an attractive feature for home buyers; upgrades like energy-efficient light bulbs, windows, and appliances can help bring cost of utilities down dramatically.
Surveyed home buyers found that they are willing to pay more for a home if it means lower utility bills monthly. Small changes can go a long way when it comes to energy efficiency. Start with upgrading the light bulbs and getting smart thermostats and eventually work your way up to big changes like new windows and “solar readiness”.
A newer trend that’s popular among home buyers is space that can be used for a variety of purposes, such as work, or recreational activities, often located on the second floor. For example, such a space can be a good option for kids to hang out in, and away from the adults downstairs. Another good location could be the basement, where it is separated from the main living room.
Although many new buyers will have a long list of must-haves in their house hunt, these are five features that have been repeatedly seen on many new home buyers list. When considering putting your home on the market, these are some improvements that help make your home more attractive on the market.