Compared to the housing markets of 2021 and 2022, it's already clear that the year ahead will be very different for buyers. The growth of active inventory continues to be on the rise and homes are staying on the market for longer, versus last year’s data. In this less chaotic environment, potential buyers are finally finding the time to catch their breath and reflect on what is truly essential to them.
And while the real estate market continues to evolve, buyers' preferences for attractive qualities remain quite constant. The following list highlights the top home features of the moment:
Open Kitchen, Living and Dining
Open concept kitchens that are connected to a dining room and, ideally, a living area rank high on the list of features prospective homeowners are searching for, whether seeking a home in the city or in the suburbs. An airy layout offers a more relaxed way of living for everyday activities and entertaining, and establishes a feeling of community in a full house.
The kitchen is arguably the most important room in a house, thus it's crucial to make it shine. A kitchen renovation is a great investment and can improve the functionality and aesthetic appeal of the overall space tremendously. Factors such as the layout, storage needs and lighting should always be top of mind but key details such as islands with counter seating, walk-in pantries, bright stone countertops (such as granite or quartz) and stainless steel appliances can step up a home’s contemporary appeal.
Abundant Natural Light
Most purchasers prefer natural light, especially in main living spaces. A room feels lighter and more airy with the addition of large or numerous windows, skylights, and French or sliding doors. And with added windows or glass doors come multiplied views of the lake, skyline, cityscape, or sunset.
Renovated En-Suite Bathroom
An en-suite primary bathroom with a double vanity and an enormous tiled shower with rain showerhead can do no wrong in buyers’ eyes. A spacious shower not only provides convenience but also gives off a magnificent impression of a spa-like ambience. A bathroom is transformed into a place of relaxation with heated floors, cabinet lighting, shower jets, body sprays, and heated towel racks. For an added sense of soothing, keep bathroom palettes neutral and light.
Outdoor space has always been a valued asset, but it has become much more so since the pandemic. City purchasers prefer direct private outdoor space over shared patios and, whether it be a deck off of a main living area, a rooftop getaway, or a porch, an outdoor space provides an oasis without having to travel. Customers in luxury high-rise buildings often enjoy communal decks, which provide grilling amenities and a spot to mingle.
If you're a seller, consider adjustments you can do to position yourself in the best possible way to appeal to buyers. For guidance with buying or selling in any market, connect with me via email [email protected] or on social media.