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Compared to data from this same time last year, home sales increased by 10.5% in August 2020. What are people looking for when buying homes during or after covid-19 pandemic?
In a post-COVID era, Realtor.com reports that home buyers now want:
- Large backyard (22%)
- Updated kitchen (21%)
- Quiet location (20%)
Here are 6 of the top home upgrades buyers want in the COVID-19 era.
Segment the interior space
Instead of going to a bar or a movie, people are cooking meals indoors and streaming movies inside. To help people avoid cabin fever, make sure to segment the inside of your residence.
Segmenting the interior of your room helps give everyone their own distinct space. It also helps minimize volume throughout your home from each of your resident’s activities.
Popular ways to segment your home can include the addition of barn or pocket doors. If you want an easier way to segment your home’s interior, room dividers are great solutions.
Tidy up the laundry room
While it might not be at the top of your renovating list, renovating or adding space for a laundry room is also a good idea in 2020. Now more than ever, people are making sure to frequently wash their clothes, bedding, and similar items.
If your home doesn’t have a laundry room, creating this space might help you sell your home fast.
For those with laundry rooms already in their homes, consider sprucing up this space with a fresh coat of paint or new flooring.
To help you sell your home during such an ever-changing time, you’ll also want to check out these bonus house flipping tips.
Give the guest room a makeover
Another feature buyers find attractive in a new home is having adequate space for guests. A buyer can use this space for elderly family members receiving home care or a friend that’s fallen on hard times.
It’s also beneficial to makeover a guest room as a buyer might earn income from renting out part of your property. Check those tips to save money after home sells.
Create a classroom or home office space
As everyone gets used to changes brought on by COVID-19, workplaces are also making lots of adjustments. Research shows that 42% of America’s workers now work from home.
To win these individuals over, place a home office inside of your house. Depending on your current work situation, you might already have a home office set up.
Children and teenagers are also making adjustments in the COVID-19 era. With over 6 million students taking classes from home, consider turning one of your spare rooms into a classroom.
If you don’t have an office or classroom in your home, now is the perfect time to create it and give one of your home’s rooms a new purpose.
Upgrade the outside of your home
As you think about ways to spruce up your home, it’s easy to forget about what’s outside of your property. This area will also be the first thing any potential buyer sees.
With many cities around the world issuing stay at home orders, taking a yearly vacation is something that’s becoming out of reach for many families.
Fortunately, your home can give a potential buyer the vacation they’re looking for with a spruced up yard.
Sprucing up your yard doesn’t mean buying a new in-ground pool, although it can help boost your home’s resale value by $11,000 to $95,000.
If you’re on a budget, placing a nice set of tables and chairs in your yard can spruce up this space. Another popular way to upgrade your yard is with an outdoor fire pit for those chilly nights.
Create a home gym
Amid a global pandemic, certain industries aren’t faring as well as others. One of the most notable industries to take a hit during 2020 are fitness centers. Experts expect gyms, health clubs, and other types of fitness centers to see a 10.1% decline in business during 2020.
Depending on safety guidelines in your area, it might be a while before you and other residents spend time inside a public gym.
With that said, you don’t need a gym membership to stay in great shape. Many homeowners are staying healthy by working out from home.
You don’t have to spend a fortune to set up a home gym. If there’s a lot of space in your home, or wiggle room in your budget, throw a stationary bike and a few yoga mats in a spare room.
Before listing your home on the market, give your home a few (or all) of the upgrades buyers want in the COVID-19 era. Upgrading your home takes time and effort, but watching your property sell to an eager buyer makes it all worthwhile.