If you’re a homeowner, you may be eyeing the overwhelming favorable real estate conditions. Home prices are incredibly high, while competition is relatively slim for sellers. If you want to sell your home quickly and profitably, now may be the perfect time.
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Any real estate agents would attest to the importance of simple home renovations before stacking that ‘For Sale’ sign up on your front lawn. While selling for a great price will be easy in the current housing conditions, it’s always important to keep up-to-date with current housing market trends and tackle any last minute renovations that’ll help you turn the best price.
Keep reading to find out what renovation projects top agents have agreed will please your buyers!
Outdoor space becomes a number one priority
Who doesn’t love relaxing outside, breathing in the fresh air, and enjoying a cocktail on your private patio? Especially after a year of stay-at-home orders, families are realizing the importance of outdoor space. Now more than ever, homeowners are prioritizing these spaces just in case we face another surge of the current pandemic or a similar event occurs sometime in the future.
Top outdoor amenities buyers are looking for include fire pits, built-in grills, outdoor lights, and comfortable outdoor furnishings. Go a step further by including a full outdoor kitchen — complete with a sink, mini fridge, bar, and even a flat-screen TV — to your space.
Remember, privacy is key in these spaces. If your backyard doesn’t have much seclusion, try planting shrubs or staking a fence to create a more intimate area.
Don’t skimp on curb appeal either. You can easily treat buyers to a great first impression of your property without breaking the bank. Freshen up the paint on your front door, buy prominent house numbers, and keep your lawn fresh and tidy.
Outdoor fireplaces are a top interest for buyers
According to HomeLight’s Top Agent Insights for End of Year 2021, the value of an outdoor fireplace has drastically spiked since March of 2020.
Before the pandemic, an outdoor fireplace added about $3,337 in value to a property. Today, realtors claim an outdoor fireplace can add about $5,753 to the home’s entire value, an increase of 72%.
Buyers will be knocking on your door left and right if your outdoor space includes an outdoor fireplace — not be confused with the more casual outdoor fire pit. However, be careful to keep your costs simple if you decide to build one prior to selling. The cost can sometimes stretch upwards of $20,000, so you’ll want to seriously consider whether or not the investment is worth it.
Home offices are essential
All across the country, companies are continuing to switch to permanent remote structures. While this change is great for many people, many desire separate areas within their homes to work and relax, making home offices a must-have on many buyer lists.
Approximately 59.6% of real estate agents cited a home office as the top priority for their clients. If you have an extra bedroom in your home — or perhaps a small alcove you can remodel into an office — you’ll attract plenty of buyer attention.