6 Buyer Trends Shaping the Market

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Compared to just a couple decades ago the amount of interest buyers (and sellers) take in the real estate process has blossomed into a multi-million dollar industry.   With media, retail and of course technological trends continuously shaping the industry, it is no surprise that buyers (and sellers) are more savvy than ever when it comes to property-related transactions.  So when the time arrives for buyers to begin searching for their new home, they are already armed with loads of advance information about what’s out there.  Here are six top current trends that buyers are into these days, some which have been around for ages and others, seemingly new.

Updated Kitchens and Bathrooms

One of the first things many buyers look for is updated kitchens and bathrooms with plenty of space, modern cabinetry, lots of storage, granite counters and stainless steel or modern appliances.  Savvy buyers of today not only want to be able to enjoy these amenities, they also know that later on down the line these features will add significant seller value to their home, making the purchase a solid investment.

Open Floor Plans

Closed off rooms that are scattered throughout the house are no longer in style.  The more sought after choice is homes that feature large great rooms, with open spaces looking out into multiple rooms that have a clear view from one end of the space to the other. Huge vaulted ceilings, tray ceilings and other architectural details that add to the openness of the space are also important to buyers these days.

Larger Master Bedrooms with an En Suite

With the influx of HGTV shows depicting the latest available designs and styles out there, more and more buyers are seeking master bedrooms with an En suite rather than traditional community bathrooms just a few feet away from the master.  Not only that, buyers want large open spaces within the attached bath, sometimes going as far as expecting double vanity sinks, garden tub and shower stalls plus plenty of storage room.

Use of Extra Space – Outdoors, Basement

Less is not more when it comes to space in a home and no buyer these days wants to see a potential home with underutilized space.  One of the most promising uses of extra space is the basement, where finished basements are the hot trend to fulfill anything from work out room requirements to desires for a media room, a “man cave” or extra family space.  Similarly, future homeowners are seeking more outdoor living space as well.  Whether through enclosed patios, larger yards, fenced in and private play areas or decks; exterior space is an important consideration for almost everyone these days.

Green Living

The emphasis on eco-friendly living has shot up in recent years.  What once used to be novelties such as furniture made of recycled materials or solar panels to produce solar energy throughout the home have now become far more prevalent in many properties. When buyers see bamboo flooring, eco-friendly materials used in the home’s construction, energy efficient windows or other green alternatives, they are likely to take a closer look. 

Character

Gone are the days when a simple, cookie cutter home would fly off the market.  Buyers are savvier than ever before and one of the most frequent things on their wish list is to find a home that has some character.   Character can be anything from an exposed brick wall in the main living space, to ceiling-high columns, wainscoting and crown molding in a formal dining space, or even original wood floors that have been restored.  If you see the potential in your home be sure to tap it to the fullest and highlight the feature.

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If you are putting your home on the market and there seems to be conversion potential in the space to incorporate some of the concepts mentioned above, be sure to consult with your Realtor for a walk-through of your home.  Given the constant exposure to the market and their in-depth knowledge of the specific area, Realtors will likely be able to shed valuable insight on whether you should make any changes, offer pricing discounts to allow potential buyers to renovate themselves or leave it as is.