Century 21 Canada recently released the results of a homebuyer survey they did and the results are very interesting. If you are thinking about putting your home on the market, there are some things you should know about the trend in current homebuyers “must have” lists.
- Canadians will overwhelmingly (41%) choose a home with energy efficient upgrades over one with updated finishes (22%) like granite countertops or hardwood floors. This makes sense since a granite countertop isn’t going to save you any money on your heating expenses. Consider making your home energy efficient before doing any other big upgrades.
- They also say that a home’s layout is the most important consideration (27%) and has the strongest impact on their first impression (39%). Surprisingly, the size of the home is less important (11%). So instead of building that addition to your home, maybe you should work on the layout and flow of the house to make it more comfortable and appealing.
- Only 13% of Canadian homebuyers see the need to renovate as a deterrent to buying a home. Most are willing to renovate for looks but, if it involves renovating for major repairs such as plumbing or electrical, 30% will walk away.
- Clean homes sell better. A whopping 60% of homebuyers say that an unclean house is a major turn off so make sure your home is spotless when it’s being shown. An unclean home is even more of a turn off than dated flooring (40%) or bold paint colors (18%). Don’t lose buyers just because your home is a mess. If you don’t have the time or desire to keep your home spotless, hire a cleaning service for a short period to keep your home in top shape.
- While Millennials look more at the square footage and room count of a home, Baby Boomers are most concerned with layout, community, cosmetic features and energy efficiency. Boomers are also the ones most likely to walk away from a home that needs major renovations.
Do your research before you make changes to your home. Does your neighborhood tend to be or is it trending toward a younger demographic? If yes, then you probably want to consider maximizing your space. Is your area mostly made up of families and older adults? Then you should work on the things that are important to the older generation.
Your realtor should be able to help you with information about your community as well as housing trends to get your home ready to sell. DePrato Associates is here for you with all the information you need. List your home with us and we’ll help you every step of the way and get you the best selling price possible.