What Do Buyers Look for in a Home Purchase?
To make your fix and flip project successful, you need to include all the features homebuyers are looking for. If you don’t, buyers are simply going to keep looking. After all, the whole purpose of buying a renovated property is to avoid having to do any further remodeling.
Here are 10 features all homebuyers want:
An up-to-date kitchen
The heart of the home is incredibly important to buyers. DO a kitchen remodel to install modern appliances, good lighting, an attractive countertop, and of course well-designed cabinets.
A well-outfitted bathroom
The bathroom should be light and relatively spacious, with light or neutral colors. It should have at least one sink and vanity, a toilet, a shower, and if possible, a bathtub. If the home is in an area where a lot of seniors live, consider installing universal design features like no-threshold showers and grab bars.
A laundry room
Buyers don’t want their washer and dryer in the basement or kitchen. Instead, create a separate laundry room with wide shelving to fold and pile laundry.
Installing energy-efficient appliances contributes significantly to a home’s energy-efficiency, which is important for both frugal and eco-friendly homebuyers. Look for the ENERGY STAR® label on refrigerators, stoves, microwaves, dishwashers, washers, dryers, HVAC systems, and other appliances.
Modern windows and plenty of natural daylight
Buyers want homes with a lot of natural light, so you need to make sure there are sufficient windows and that they’re strategically placed to provide the best lighting. To prevent them from being an energy drain, purchase energy-efficient windows.
In 2015, 33.7 percent of U.S. households owned one vehicle and 37.4 percent owned two vehicles, so you should provide at least a one-car garage—and preferably a two-car one.
An open floor plan
Buyers want open, light spaces with a natural flow from the kitchen to the family room and if applicable, to the home office.
A patio or outdoor living area
Most families want to be able to enjoy the outdoors without having to leave their property. So whether it’s a sprawling garden or a cleverly designed rooftop patio, it’s important to provide an outdoor area.
Always provide a dry, lean, pest-free space for storage. This can be in the basement or garage, but it can also be in an outdoor storage shed in the yard. Install adjustable shelving that allows for easy organizing.
It’s relatively quick and easy to install a wireless security system (along with outdoor lighting) that can be controlled from a mobile device. This provides homeowners with the peace of mind that their property will be secure as soon as they move in.
With the above points in mind and a firm knowledge of what the majority of homebuyers are looking for in your property’s neighborhood, you can concentrate on precisely what needs fixing. Then, by not getting lost in extraneous remodeling expenses, you can flip your investment in an efficient and profitable manner.
Buyers may want these 10 features in a home, but investors want the right financing to be able to purchase one of these perfect investment homes for fixing and flipping. LendingOne offers a variety of loan products that can help real estate investors with the capital they’ll need. Apply today.