8 Things Home Buyers Are Looking for in 2022
A new year means new trends in buyer preferences and interior design. Instead of lagging behind the curve and receiving lower offers on your home, stay ahead of the curve.
Here are eight things that high-end buyers and investors want in 2022 so that you can get top dollar on your real estate investment:
1. OPEN CONCEPT KITCHEN
Potential homeowners are looking for open concept kitchens that connect to a dining room and preferably a living area as well. While you may have to knock down some walls and change the kitchen layout to make this happen, it will definitely be worthwhile.
Kitchens are the most valuable and most important room in a home, so it’s important to really make them shine. Buyers are also looking for features like double sinks, islands, walk-in pantries, and water filtration systems in the kitchen.
2. FULL-EQUIPPED LAUNDRY ROOM
Buyers are also looking for full-sized laundry rooms rather than a small dedicated space like laundry closets. Laundry rooms are a great place for extra storage and functionality. For example, you could add cabinets above the washer and dryer to store cleaning supplies and other household essentials like toilet paper and paper towels.
Other added laundry room bonuses include a separate sink tub or basin where you would be able to hand-wash clothes, a counter where you would be able to fold your clothes, and a pull-out ironing board. All of these combined will help decrease chore time, thanks to the coordinated location.
3. SEPARATE HOME OFFICE
Since the COVID-19 pandemic, more people are working from home than ever before — about one in every four Americans. As a result, buyers are looking for separate home office spaces where they can work remotely and never have to go into the office again!
We quickly learned that working out of our family rooms is not conducive to productivity. The good news is that basically any space can be staged as a home office. You can convert a mother-in-law suite or renovated attic into a home office for maximum impact. Some popular home office features include French doors, built-in bookshelves, and plenty of natural light.
Remote work is allowing people to move away from the center of their industry. For example, finance professionals are no longer tied to Wall Street and the hustle and bustle of New York City.
Cities that were associated with seasonal snow birds coming from up the coast will see a new influx of permanent residents looking to put down roots and will need a designated space to do business. This is increasing the condo market boom, especially with international property investors.
4. MULTI-USE GARAGE
It’s not just single-family homes that have a designated garage; townhouses and even some condos can have separate storage spaces.
Buyers are looking to get more use out of their garages to truly take advantage of every square inch of the home. While garages typically take up hundreds of square feet, it can be hard to see the potential of a garage when it’s cluttered with tons of stuff.
Help buyers see the potential of the garage by cleaning it out and adding storage solutions like shelves and cabinets. Sellers may also want to stage the area as a workshop by adding a large countertop. Another great staging idea is to place workout equipment in the garage to showcase it as a home gym.
5. AN OUTDOOR FEATURE
Curb appeal is essential. A striking front door and peaceful front porch can do a lot to draw the eye.
Buyers aren’t just looking to take advantage of space inside the home; they’re looking to take advantage of space outside the home too. This should come as no surprise when many people were stuck inside during the height of the COVID-19 pandemic.
130 Marina Bay – Pool Deck
Outdoor space is a huge selling feature for any home, but you need to utilize it properly to get the best return. You may want to consider putting in a pool or an outdoor kitchen to really “wow” potential investors or buyers. Even little details count — add a fire pit or a small patio or deck space to help buyers see the potential.
As single-family homes became harder to come by, the condo market has seen noticeable upticks in buyer interest. In the South Florida condo market, buyers are moving to Florida, searching for pleasant skies and sunny weather. An outdoor feature like a small table and chairs are well suited for celebrating happy hour on the porch. A collapsable hammock is ideal for reading, but it could easily be stored away when entertaining guests.
For example, take a look at 160 Marina Bay in Ft. Lauderdale, Florida. This condo complex offers the outdoor features that Florida residents are looking for. This complex offers exclusive waterfront amenities. Residents can enjoy expansive water views, a private marina with 14 boat slips, and a waterfront barbeque area.
Or, consider how The Signature Residences at Reach and Rise utilizes their outside space for residents. They feature lush, verdant garden spaces, summer kitchens, and outdoor fitness centers. With an average of 237 sunny days a year, Florida offers the unique chance to translate traditionally indoor activities to the outdoor sphere.
6. COMPLETE GUEST SUITE
Many luxury home buyers are looking for complete guest suites so that they can comfortably accommodate guests when they come into town for the holidays. However, guests may not just come for the holidays.
Take a state like Florida, for example. Homebuyers in Florida are likely anticipating to accommodate guests year-round as they take advantage of the Sunshine State’s beautiful weather and incredible scenery. As a result, they may be looking for a separate guest room with its own attached bathroom for maximum privacy.
7. HALF BATHROOM
Speaking of hosting and entertaining, buyers in 2022 are also looking for half bathrooms. In a half bathroom, there’s only a toilet and a sink but no shower. A half bathroom is designed to be a simple and functional space that’s free of a lot of the clutter that comes with a full bathroom, such as bath toys, toothpaste splatter, makeup, etc.
While half bathrooms were once seen as an antiquated and unnecessary home feature, they are experiencing a resurgence in popularity and desirability.
8. ENERGY EFFICIENCY
Last but certainly not least, elite home buyers are looking for homes that are energy efficient in 2022. For starters, energy-efficient homes can help buyers save on their electricity bills. Additionally, it’s simply better for the planet.
For an energy-efficient home, ensure the construction is completed with proper insulation and double-pane doors and windows. These build a strong barrier between the outside elements and the inside. You may also want to consider choosing Energy Star appliances, including washers, dryers, refrigerators, dishwashers, lights, and more.
What else is trending in 2022?
Now that you know about the general home features that buyers are looking for in 2022, let’s dive deeper into some more specific trends that buyers would love to see in a home:
1. SMART HOME FEATURES
2022 is the year of the smart home, and this is certainly an added bonus for the technologically-inclined home buyer. At the same time, not all smart home features are created equal.
Here are some of the hottest smart home features that you should consider adding to get the best bang for your buck:
- Smart Thermostat for lower energy bills
- Ring video doorbell system for added security and peace of mind
- Keyless smart lock systems for added convenience
- Smart light bulbs that are motion-sensing and remotely accessible
2. LUXURY VINYL PLANK (LVP) FLOORING
For the past few decades, it’s been wood flooring over carpet, but to minimize expenses, here is a different type of repair.
If you need to install new flooring in a home before putting it on the market, then you definitely need to consider luxury vinyl plank flooring or LVP. Luxury vinyl plank is an extremely popular flooring choice in 2022 because it looks and feels like hardwood flooring, but it’s scratch-resistant and waterproof. This makes it perfect for established home buyers with pets and kids.
If you live in climates known for humidity like South Florida, LVP flooring is your best bet. Hardwood floors tend to buckle and warp with humidity exposure, rendering them nearly value-less. This would be a real concern in Florida, where the humidity level hovers around 12 to 13 percent moisture content.
To get top dollar on your home, you should embrace built-ins. For example, you could add built-in bookshelves in the living room next to the fireplace or in the home office. Or you could add a built-in coffee bar in the kitchen. You could even add built-in storage in the entryway to create a mudroom.
4. FEATURE WALLS
Another great strategy to get top dollar is to create feature walls throughout the house. Feature walls don’t cost that much to create but can have a huge impression on buyers. Some great ideas for feature walls include exposed brick/stone, fun wallpaper, and wood planks.
5. BOLD COLORS
Feature walls are a great place to try out some bold colors and really spice up the entire house. Paint colors like blues, greens, yellows, and even black are ideal for a fun feature wall that provides contrast to otherwise neutral paint colors. Even formal dining rooms can have a pop of style.
Look to your outside environment for inspiration. For example, the tropical environments of Southern Florida call for luxurious but warm colors like warm yellows and eye-catching orange
What’s out of style in 2022?
We’ve discussed what’s in style in 2022, so now let’s talk about what’s out of style so that your house can be the best one on the market:
1. GRAY EVERYTHING
Gray has been the go-to color in interior design for several years now. However, in 2022, gray is definitely out. So skip the gray LVP floors, the gray wall paint, and the gray cabinetry for alternative color options.
2. ALL-WHITE KITCHENS
All-white kitchens have also been the trend in recent years. Yet, this trend is starting to simmer out in favor of more colorful kitchens. But that’s not to say that white doesn’t have a place in the kitchen. For example, white cabinets are still a great option so long as they are paired with more color in the countertop, backsplash, and paint.
Speaking of countertops, granite is no longer the most desirable countertop option for buyers. Instead, buyers are looking for quartz, marble, and even porcelain. However, don’t be afraid to go with natural options like butcher block and even concrete.
When renovating your home or condo to appeal to high-end buyers, you want to use only the highest quality materials. High-end buyers don’t want to have to deal with materials that will fade quickly and hold up against moderate wear and tear.
Especially for those looking for investment properties, they want to make sure that they can yield a profit from their initial investment. They prioritize renovations that they won’t need to replace when selling this property or renting it to short or long-term occupants.
Shiplap was once seen as a great way to bring texture into a space, but it’s no longer the best option in 2022. Instead of dated and overdone shiplap, choose wood panels, wood planking, nickel gap planks, or board and batten.
Now that you know more about how to get the best bang for your buck on your home sale, it’s time to make it happen by working with the experts at Fortune International Realty.