The COVID-19 pandemic has had an undeniable impact on the real estate market in Columbus, Ohio and elsewhere across the country. A combination of recession-induced low mortgage rates, work-from-home situations, a wave of first-time millennial homebuyers, and years of under-building has resulted in record-high demand, record-low inventory, and incredible home value gains. This means now is a great time to sell your home!
According to the National Association of Home Builders, 25% of homebuyers have altered their housing preferences because of the pandemic. Make sure your property stands out in a post-pandemic world by upgrading it with these must-have features.
The single most-wanted specialty area is a laundry room, with 87% of homebuyers putting it on their must-have list. If your home only has a laundry closet, consider upgrading to a full-fledged laundry room. The basement is usually the easiest and cheapest place to put one, but keep in mind that 63% of buyers prefer to have the washer and dryer on the ground floor.
Outdoor living has become an essential survival mechanism during the pandemic. As a result, 75% to 87% of homeowners are looking for these outdoor features:
- – Exterior lighting
- – Backyard patio or deck
- – Front porch
More than half of all buyers are willing to pay extra for a home if they know it will lead to lower utility costs. The features they hope to find include:
- – Double- or triple-pane windows
- – Efficient appliances
- – Efficient lighting
- – High efficiency rating for the whole house
The most in-demand technology is designed to improve either energy efficiency or home security. Appeal to today’s homebuyers by upgrading the following before you sell your home:
- – Programmable or Wi-Fi thermostat
- – Security cameras
- – Video doorbell
- – Wireless home security system
- – Zoned HVAC system
More homeowners put their kitchens to work during the pandemic when eateries were closed for weeks at a time. As a result, 76% to 81% of homebuyers consider the following features essential or desirable:
- – Double-basin kitchen sink
- – Walk-in pantry
- – Eat-in kitchen
- – Kitchen island
- – Tap water filtration system
Hard-surface flooring is beautiful, less allergenic, and easier to maintain than wall-to-wall carpet. That’s why over 80% of buyers want it in the main living area of their next home.
As Baby Boomers continue to age, they want the peace of mind that comes from having a more accessible home. The features that top the list for 64% to 80% of homebuyers include:
- – Full bath on the main floor
- – Three-foot-wide doorways
- – Four-foot-wide hallways
- – Non-slip floor surfaces
- – Front entrance without steps
If you’re looking to sell your home in Columbus, Ohio, reach out to Vutech | Ruff, Corcoran Global Living. We have over 60 years of combined experience in the real estate industry and would be pleased to help you achieve your goals. Call us at 614-897-0618 or contact us online today to learn more.