3 New Buyer Preferences Sellers Should Know
Here are the three biggest buyer preferences brought about by COVID-19.
With more of the population living out their lives at home than ever before, buyer preferences have changed a bit. There are a ton of examples to choose from, but here are the three most prominent ones I’ve noticed:
1. Storage space. This has always been important, but in our COVID-adjusted world, it’s practically gold. Custom built-ins are worth consideration, especially in closets that get a lot of use such as those in the primary bedroom or front hallway. Though they’re not exactly inexpensive to install, they’re still a great investment; every day, I’m seeing custom built-ins go over extremely well with buyers.
2. Work-from-home space. This one probably isn’t a shocker, but did you know that your home or condo doesn’t necessarily need to have a dedicated, conventional office area to appeal to these WFH buyers? Folks in this segment of the market are seeking homes with good lighting and aesthetically pleasing backgrounds.
After all, the last thing you want when on a Zoom call is to be dimly lit and in front of some distracting background. (It’s hard to be taken seriously from your laundry room, for example). If you’re a seller who isn’t working from home, I encourage you to assess your home’s overall WFH viability. Are there any simple changes you can make so that it’s more work-friendly? Think outside the box!
"More than complete home offices, WFH buyers seek good lighting and decent backgrounds for telecommunication."
3. Outdoor space. As we look forward to warmer weather here in D.C., outdoor space is more important than ever. Given that so many of us have spent record amounts of time indoors, we’re all craving fresh air and the ability to socialize with friends and family safely. I know that this isn’t a possibility for condo owners, but that’s why I recommend bringing touches of nature inside; you’d be surprised by how much plants can liven up a living space.
If a balcony is the only space you have to work with, put maximum effort into sprucing it up. Don’t be afraid to get creative with your layout but do be wary of installing permanent fixtures. As with anything in a home, your tastes may not resonate with the majority of buyers.
If you’re a homeowner who’s looking to sell, I hope this list gave you some ideas. Please don’t hesitate to pick up the phone or send an email if you have other real estate-related questions. We’re also here to help you if you’re ready to get the ball rolling on your 2021 buying, selling, or investing plans.