What Are Florida Homebuyers Looking For?
We’ve all heard the quote from the classic 1989 film Field of Dreams, “If you build it, they will come.” In the real estate business, we think of it more like, “If you build it how they want it, they will come.” Giving sellers what they are looking for is the best way to expedite the close of escrow while ensuring you get top dollar for your home.
We’ve used two reliable sources to cite some of the most important features or qualities Florida homebuyers are looking for. Florida Realtors (floridarealtors.org) is our state’s largest trade organization specializing in the real estate market, and Kiplinger (kiplinger.com) is an American publisher of business forecasts and personal finance advice. Both sources keep close tabs on what buyers want and what you should think about when selling your home.
We also recommend reading the 7-point Checklist we’ve created for clients who are selling their homes.
1. Energy Efficiency Incentives
It used to be that energy-efficient homes or “green” building techniques were a niche interest. Today, energy efficiency features are essential because both energy prices and consumer eco-consciousness are on the rise. As a result, homebuyers are asking deeper questions about the home’s roofs, HVAC systems, insulation R-values, and Energy Star-qualifying windows and appliances.
If you are selling an older home, your agent will let you know which of these are worth updating to attract higher sales prices and an optimal return on your investment. If you do opt to upgrade or update your home with energy-efficient features, we’ll make sure to highlight those in our marketing materials.
2. Beautiful (Livable) Outdoor Spaces
While Florida residents have always prioritized an outdoor lifestyle, beautiful and livable outdoor spaces became particularly desirable during this past year of sheltering-in-place and the switch to a work/school-from-home lifestyle.
Families found out how important it was to have plenty of space to spread out and move around during the day, and many of our traditional social gatherings also moved outside. Sprucing up your outdoor spaces and staging inviting sitting, dining, and gathering areas helps prospective buyers to envision themselves enjoying relaxing quality time with family and friends.
3. Neutral Design Updates in Main Living Areas
Remodeling and renovating is more than just costly, it creates upheavals in the lives of the home’s occupants. Survey results share that 48 percent of new home buyers were looking to avoid renovations and problems with plumbing or electricity. They simply don’t want to go through the hassle of moving, only to remodel the home they move into.
That means half of the home buyers out there are looking for homes with turnkey kitchens and bathrooms – the most expensive rooms to renovate. If you are selling an older home, or your home’s decor is very personal to your taste, it’s worth investing in updates in the kitchens and baths. New coats of warm, neutral wall paint are also recommended so buyers walk through an appealing canvas awaiting their personalized touches.
If your home is more than 20 years old, it’s worth having a contractor inspect the electrical and plumbing work to make sure it is built to code. Again, these are all features we’ll promote in the marketing literature, which will set your home apart from other older homes for sale in the area.
4. An Eat-In, Entertaining-Friendly Kitchen
The kitchen has long been considered the heart of the home, but the past two decades of hit cooking shows and the increase in “foodies” have put the spotlight on kitchen design more than ever before.
Homebuyers want a kitchen that is updated, attractive, and that has plenty of room for eat-in spaces (like a kitchen island or a raised peninsula bar) as well as an open feel that accommodates entertaining. In fact, “eat-in kitchens” were considered “must-haves” for second-time home buyers polled by the National Association of Home Builders (NAHB).
The simple act of removing a non-load-bearing wall to carve out more space to add an island or room for a table and chairs can transform the way your kitchen looks and feels, especially for families with children. Best of all, changes like that can cost as little as $1000 and net a cash-positive return.
5. A Laundry Room
According to Kipling, “A separate laundry room tops the National Association of Home Builders (NAHB) list of most-wanted home features by buyers.” That may come as a surprise, but real estate agents hear this time and time again from our buyers.
People want a designated space to do their laundry, folding, ironing, etc., and they prefer that it’s inside the home and hidden from communal view whenever possible. While a full-scale laundry room addition is on the pricier side, there are affordable ways to convert a basement space, garage corner, or hallway closet into a separate laundry area.
6. Hard Surface Flooring
A whopping 83% of homebuyers prefer hard surface flooring, particularly in the main living areas of the home. Hardwood floors provide a cleaner look, are easier to clean and maintain, and offer far more longevity than carpet, which needs to be replaced on an average of every 8-10 years.
If you have wood floors below your carpet, this is the time to rip the carpet up and finish the flooring below. Depending on the status of your current flooring, it might even be worth replacing old carpet/padding with affordable laminate options that look just like real wood.
7. Bonus Features
Other features that make your home more attractive to buyers are:
- A multi-generational home. 12% of homebuyers prioritize homes that accommodate multi-generational living. This is especially true for members of “The Sandwich Generation,” who are taking care of aging parents while there are still children at home. We also have more and more clients with adult children who still live at home, or who moved back home, which makes accessory dwelling units (ADUs) or multiple master suites a more appealing option.
- Accessible homes. That segues to the importance of an accessible home, which appeals to nearly 13% of Florida homebuyers who want to age-in-place or are already retired as well as those who have a family member with mobility issues. Ramps, handrails, adequate indoor/outdoor lighting, and wheelchair/walker-friendly flooring are all on their list of needs/wants. If your real estate agent feels your house is perfect for senior homebuyers, they will recommend implementing reasonable design tips that make your home more accessible.
- Compelling online photos and descriptions. Florida real estate marketing still takes place on television, radio stations, and print ads, but 44% of your prospective buyers start looking for houses online before they contact an agent. Make sure your agent leverages online marketing platforms and uses top-notch photos to showcase all your home has to offer.
Are you thinking about selling your home? Contact Southern Exclusive Realty to schedule a consultation. We’ll help you sell a home that has exactly what most buyers are looking for.
