Give Buyers (Millenials) What They Want
In this super-hot housing market, it is more important than ever to know what buyers are looking for most in a new home purchase. Since Millennials now make up 43% of new home buyers, and Boomers made up largest share of home sellers at 42%, in this article, we’ll reveal the top three most sought after amenities trending with young adults of the 21st century today.
#1 Home Offices
Thanks to COVID and the increasing ease of remote work, the popularity of the home office is on the rise. According to a survey by Rocket Homes, mentions of “office” in real estate listings between March 2019 and July 2020 have increased from 11% to 12.5%. Home buyers who work from home or own their own businesses want a dedicated office space in their new home, whether that means a separate room or a dedicated nook in a room designed for a different purpose. Adding a home office doesn’t have to break the bank. You can simply add a desk to a spare bedroom. No bedroom to spare? Section off a corner of a bedroom with shelving or other room divider. Use hybrid furniture such as lift-top coffee tables to pull double duty as a work surface. And make sure to mention this home office space in your listing. Since the multiple listing service (MLS) currently doesn’t include the option of “home office” in real estate searches, you may want talk to your real estate agent to find out how to best include a mention of your home’s office space in the listing.
#2 Outdoor Kitchens
Another item high on the wish list of many a home buyer is the outdoor kitchen, especially in temperate areas that have good weather throughout much of the year. These outdoor cooking spaces have gone far beyond a grill, and now include refrigerators, sinks, bars, seating areas, fireplaces and even TVs. Some high-end outdoor kitchen designs incorporate smokers and pizza ovens. And don’t forget the string lights and fire pit for those late-night gatherings. Patio heaters are essential for chilly get-togethers. When it comes to outdoor kitchens, design is limited only by your imagination and budget. This article lists some popular design trends.
#3 High-Tech Security
Along with the sky-rocketing prices of prime real estate in today’s market comes the desire of home buyers to protect their new investment, and that means high-tech security. This includes everything from burglar deterrents to fire and radon protection, as well as extreme weather alerts and other features. With the rise of smart home technology, it is not unusual to find homes with cameras, alarm systems, doorbells that record visitors on video, and lights that can be turned on and off remotely even from thousands of miles away. It also stands to reason why buyers look for these amenities when shopping for a new home. It doesn’t have to be expensive. Something as simple as a video doorbell can make your home a viable contender in this hot home market.
In the current competitive buyer’s market, it pays to have a few aces up your sleeve to entice buyers. Adding a home office, outdoor kitchen, or a high-tech security system might just tip the scales enough to bring that ready, willing and able buyer closer to the closing table.
Whether you are involved with a home sale or purchase, the Florida Bar Board-Certified Attorneys David E. Klein and Guy at Rabideau Klein have the expertise and experience you need to ensure that your interests are protected throughout your real estate transactions in the Town of Palm Beach, across the Palm Beaches and throughout Florida. Contact Rabideau Klein to discuss the legal implications of your next Florida property transactions.