As South Florida residents continue to adjust to the ‘new normal’ we now find ourselves in, various aspects of our lives and habits are changing. We’re spending more time at home, much more time. Inevitably, all this time spent at home causes many of us to rethink our living spaces. For the ambitious homeowner, this might mean that you take on a new renovation project to create a more suitable living space given the unique circumstances. Taking on a project like this can be daunting and time-consuming. Most of us are not up to the task. However, times of significant change bring about just that–change. Some, if not a large part of homeowners start to consider whether a change of scenery might be the best thing to do. You’re now a home buyer, but you also have to take into account that you are now a home seller, too (in most cases).
When it comes to selling your home, it can be hard to think like a buyer, but if you understand what buyers are looking for, you can make sure that your home is as marketable as possible. Since the start of the pandemic, the research team at Berkshire Hathaway HomeServices EWM Realty has been observing any changes in buyer search patterns and any feedback received from BHHS EWM Realty Associates out in the field. The findings? Things have changed. Here are the top five things we see buyers expressing an interest in:
Whereas the most popular bedroom count searched for among buyers was three bedrooms, that has now shifted to four- and five-bedroom homes. This shift is, of course, because many people are currently working from home. In some cases, they will be working from home indefinitely. Having a private space in which to work quietly is essential.
There was a time when buyers could look past the style of space because they knew they would make some adjustments or renovate. Although this still happens, buyer expectations, in general, have elevated. Many expect homes to be up to contemporary design standards and are not interested in dealing with the hassle of renovations.
With the shutdown, community pools and the like were considered off-limits. Pools offer a great way to unwind and relax privately, safely distant from others with whom you are not isolated. When you have a pool of your own, you are not subject to such closures, and many homeowners are now seeing their pools as an essential refuge.
Outdoor Living Area
Everyone needs a little fresh air and some sun, especially when in quarantine. For this reason, we see an increase in buyers putting a specific focus on outdoor living spaces. Does the home have a summer kitchen? What about a covered outdoor dining area?
Plenty of Space
Buyers want more space in the interior of the home, but they are also looking for more space between them and their neighbors. This trend has caused single-family homes to become more popular among buyers in recent months. For the first time in 18 years, single-family home sales in Miami-Dade and Broward Counties have surpassed condominium sales.
If you are looking to sell, use our Instant Home Value tool to obtain a rough estimate of what your home might be worth, then get connected with a Berkshire Hathaway HomeServices EWM Realty Associate by registering above. Ask whether it would be worthwhile for you to renovate your home to meet the criteria of today’s buyer from a price perspective. In some cases, it might be advisable; in others, it might not. Talking to one of our Associates will get you the information you need to make the best possible decision regarding your home sale.