Everything Home Buyers Want in 2024
In the age of smartphones, social media, and AI algorithms, there is never a shortage of information on how you can remodel or upgrade your home to increase its overall value. There is only so much money and time that someone can put into a project like a remodel or upgrade, if you are looking to sell your home in the future, it is important to understand just what it is buyers are looking for.
Continue to read to find out the home features that most buyers are looking for in 2024.
1. Affordability
The housing market in 2024 is being shaped by low inventory and high interest rates, factors that keep home prices high while increasing the cost of mortgages for potential buyers. First-time homebuyers and retirees are especially concerned about affordability. Agents have recently noted a slowdown in bidding wars, pressure from sellers for buyers to lower the listing price, and buyers pushing back on inspection items.
2. Impressive Kitchen Updates
Greg Smith of Boulder Home Source had this to say about the importance of making impressive kitchen updates to your home:
Modernizing your kitchen is the best method to appeal to homebuyers today. If your kitchen and/or appliances don’t appeal to a buyer, the chances of selling your home quickly or for what it is worth can decrease dramatically. A great means to update your kitchen is by installing granite or quartz countertops, as this change gives a whole new complexion to your kitchen. Another easy and inexpensive upgrade to your kitchen is by painting your cabinets a different color or adding hardware if they are worn.
3. Improve Your Porch, Deck, or Patio
To attract more buyers, make outdoor improvements, such as adding or fixing up the home’s deck, porch, or patio space. A covered back patio is a big hit with buyers these days, as plenty of people like to sit out there and enjoy the outdoors with the convenience of staying out of the sun. Highly usable front porch areas or backyard decks are more popular in recent years, something to take into consideration if you are doing a remodel.
4. Add Outdoor Entertainment Amenities
Outdoor entertainment is something more and more buyers in 2024 are looking for. Depending on the price range of your home, buyers might be expecting outdoor entertainment features, typically including the following:
- Outdoor Kitchens, including everything from a bar, countertops, cabinets, standard kitchen appliances, a sink, and even a flat-screen TV.
- Backyard BBQ Equipment, including grills, smokers, or other cooking tools.
- Outdoor Fireplaces, common in luxury homes help create a resort-esque feel for social gatherings.
5. Storage
To offset high prices, another trend agents are seeing become popular is an increased demand for non-romantic co-buyers. This means storage is a major concern, a key feature many buyers want in a home, whether co-buying or not. Kitchen cabinetry is important because buyers love to store cookware, snacks, and other things with ample storage space in the kitchen. Storage features in a house can include a walk-in pantry, closets, cabinets, and other portable storage furniture.
6. Neutral Colors
You can’t go wrong with neutral colors. Kitchens that showcase light color palettes, including whites, grays, beige, and a mix of all go great with light-colored flooring, a top choice for buyers in 2024. You might enjoy bold colors, but that doesn’t mean that prospective buyers will share the same sentiments. When opting to go with a neutral color palette, buyers moving in don’t have to fret about repainting, as the current color on the walls will match all types of furniture pieces and decorations the buyer will bring into the home.
Conclusion
Find a top-selling agent in your area, as they will help you to create realistic expectations based on the wants and needs of buyers, as well as their budget. An agent with years of experience is ideal, as they will have a better idea of what you are looking for in selling your home and help you realize the end result you have marked as your goal. Trust the professionals at Palm Beach Coastal Realty to guide you in selling your beautiful Palm Beach, FL, home above the asking price so that you can find your next dream home in the area today!