What Denver Home Buyers Are Looking For In 2023
Selling your home in 2022 is an excellent idea as property values are expected to continue to increase after a record 2021. If you’ve been thinking to yourself, “I should sell my home,” but you’re not entirely sure what buyers are looking for in 2022, you’re in the right place. In this post, we’ll go over the must-haves to sell a house in today’s red hot market.
#1. A Home Office
In the wake of the COVID-19 pandemic, more people are working from home — and loving it! This means that people need spaces in their homes that they can devote to working distraction-free. If you don’t currently have a room that’s designated as the office, consider turning a spare bedroom into an office when you show your home. A simple addition of a desk and office chair to an unused space could have potential buyers racing to sign on the dotted line.
#2. A Laundry Room
Nearly half of all homebuyers reported a laundry room is essential in 2022. An additional 87% reported it’s a must-have or desirable. What’s more, 63% of homebuyers want the laundry room on the main floor. If you’re looking for a new washer and dryer to spruce up your laundry room, opt for Energy Star-certified models that buyers are looking for. Also, consider adding cabinetry, countertops, and a sink — depending on what your budget allows.
#3. A Functional Kitchen
Did you know that the kitchen is the most scrutinized place as potential buyers tour a home? Buyers put a lot of focus on the kitchen and its features and functions. 81% of buyers want a double sink, and 81 percent want a walk-in pantry, while 77% want a central island, and 76% want a water filtration system.
Buyers are also going crazy for EnergyStar appliances (and windows) to help them save on their electricity bills. More than half of homebuyers report being willing to pay up to $5,000 more for a house if they can save $1,000 on their annual utility bills.
#4. Open, Flowing Kitchens
Speaking of the kitchen, if walls separate your kitchen from your living space, get the sledgehammer! Today’s buyer wants a kitchen that flows freely into the eating and living space — no separation required! Bonus points if said living space is anchored by a brick or stone fireplace!
#5. Multi-Use Garages
Spending more time at home has also inspired many homeowners to create workspaces in their garages. That means home buyers want reimagined spaces that serve more purpose than a conventional garage of days past. If you’ve got some extra room in your garage, consider adding cabinets and shelving to transform your empty corner into a workman’s paradise.
#6. Outdoor Space
The mid-pandemic world also enjoys more time outdoors, meaning homebuyers want outdoor spaces the Ritz Carlton would be jealous of. Fireplaces, water features, pools, sprawling gardens, outdoor TVs, and outdoor kitchens... you name it, they want it!
Homebuyers are looking for backyards that are large and well-designed or that have the potential to be transformed into a comfortable outdoor living space.
While we’re on the topic of outdoor features, pools are also increasing in demand in 2022, spurred by a historic increase in residential pool demand in 2020 (24 percent).
This is another pandemic-related effect as people worry about travel bans and restrictions and opt to turn their backyards into their own mini resorts. Adding a pool is an extremely costly endeavor, so many homeowners are opting to purchase new homes that have pools instead of taking on the out-of-pocket costs of upwards of $55,000. So, if you have a pool in your backyard, you could be sitting on a goldmine that will have buyers offering above the asking price!
#8. Exterior Lighting
With all these backyard upgrades, homebuyers want to show off their outdoor paradises. Exterior lighting is the second-most wanted outdoor feature for homebuyers. Options for exterior lighting include spotlights, pendant lighting, and walkway lights. Colorful and fun pool lights are also a hit with homebuyers who love to entertain and who have kids. Lighting is also a great safety feature, for example, motion-sensor lights that turn on automatically when they sense movement outside of the home.
#9. Guest Suites
For the holidays and every day, buyers find it important to have a dedicated space for their loved ones to comfortably visit them. This includes a bedroom and their own full bathroom. Today’s homebuyers are prioritizing homes with large guest rooms, guest suites, or large open spaces that could be turned into guest suites.
#9. Half Bathrooms
The lost art of the half bath is making a resurgence as people entertain more at home. A half bathroom is a bathroom that only contains a toilet and a sink, no shower or bath. Half bathrooms are perfect for short-term guests to use, so they don’t have to enter your master suite or the children’s rooms or bathrooms and instead have their own area free from bath toys, rainbow toothpaste splatter, and the socks your husband leaves in the master bathroom every day! You might also want to read our next blog for the 9 Ways to Show Your Denver Home Love.
Let's Get to Work
Now that you know what buyers are looking for this year, what are you waiting for? Let’s get your house on the market and sold! Contact us today to get started.