What Today's Home Buyer Wants
Three experts share what home buyers look for when shopping for a new home and how you can adapt your home to cater to their wish lists
Grace Chamia
4 July 2015
Houzz Contributor. I'm an experienced lifestyle journalist with a penchant for open houses that I have no intention of buying...
Houzz Contributor. I'm an experienced lifestyle journalist with a penchant for open... More
The property market is red-hot, and owner-occupiers and investors alike are seeing the potential in selling their properties while the demand is still strong. But selling your home is not always a simple feat. Aside from researching the market, finding the best agent to sell your home, and the string of paramount decisions in between, homeowners are now seeing the value in up-styling or renovating their homes in time for the first open house. If you, too, choose to go down this route, it’s important that you choose key areas or features within the home in which to exert your efforts and spend your money. Read on for information from our experts on how you can best present your house to potential buyers.
Should you spend money on your property before putting it on the market?
It’s the baffling question that polarises homeowners: To spend or not to spend? John McManus, a Sydney-based real estate agent at LJ Hooker, says all homes will need some sort of makeover or styling before the first open for inspection. “Even in hot markets, buyers want the best for their money – especially buyers in high price ranges,” he says. “A home that has been updated, styled and well-presented for the market can reach 10 to 15 per cent more when it comes time to sell.” As of March this year, the average home price in Australia sat around $576,100, which means the average homeowner could make an additional $86,415 from the sale of their home if they were to make some simple home improvements.
It’s the baffling question that polarises homeowners: To spend or not to spend? John McManus, a Sydney-based real estate agent at LJ Hooker, says all homes will need some sort of makeover or styling before the first open for inspection. “Even in hot markets, buyers want the best for their money – especially buyers in high price ranges,” he says. “A home that has been updated, styled and well-presented for the market can reach 10 to 15 per cent more when it comes time to sell.” As of March this year, the average home price in Australia sat around $576,100, which means the average homeowner could make an additional $86,415 from the sale of their home if they were to make some simple home improvements.
Charyn Youngson, a professional property renovator, home stager, and author of Sold for Top Dollar – Low Cost Home Improvements that Maximise your Sale, agrees that home improvements are worth the effort, and strongly advises against selling as is: “The only people looking for homes that are in a poor condition are bargain hunters – and bargain hunters are looking for ‘discounted’ homes so they can add value and reap the reward.”
She advises spending one to two per cent of the property value on renovating or up-styling. “For every dollar you spend, you should expect $2 to $3 in return,” she says. If the home is already in good condition, Youngson suggests considering investing in a professional home styling service, to set it apart from similar homes in the area.
Find a home stylist in your area
She advises spending one to two per cent of the property value on renovating or up-styling. “For every dollar you spend, you should expect $2 to $3 in return,” she says. If the home is already in good condition, Youngson suggests considering investing in a professional home styling service, to set it apart from similar homes in the area.
Find a home stylist in your area
What to spend money on
KITCHEN AND BATHROOM
For the best return on your renovation, it’s important you choose key features that you yourself would want in a new home. If you consider Houzz Australia’s latest Homeowners Survey (2014), 42 per cent of homeowners would choose to have a designer kitchen over any other feature in their house. This huge response superseded a slim 12 per cent of homeowners that instead preferred a swimming pool. It suggests that a smart kitchen design could be the key to selling your home quickly and at an optimal price.
Rich Harvey, managing director of Property Buyer, an independent buyer’s agency, also suggests spending renovation money on kitchens, but says bathrooms are important, too. “These add real wow factor and are relatively easy to renovate,” he says. “Buyers especially like kitchens in which they can entertain in.” To get the big tick of approval from potential buyers, consider installing a sociable kitchen island, adding some simple stools to a benchtop, or ensuring the dining table is in clear view of the kitchen workspace.
KITCHEN AND BATHROOM
For the best return on your renovation, it’s important you choose key features that you yourself would want in a new home. If you consider Houzz Australia’s latest Homeowners Survey (2014), 42 per cent of homeowners would choose to have a designer kitchen over any other feature in their house. This huge response superseded a slim 12 per cent of homeowners that instead preferred a swimming pool. It suggests that a smart kitchen design could be the key to selling your home quickly and at an optimal price.
Rich Harvey, managing director of Property Buyer, an independent buyer’s agency, also suggests spending renovation money on kitchens, but says bathrooms are important, too. “These add real wow factor and are relatively easy to renovate,” he says. “Buyers especially like kitchens in which they can entertain in.” To get the big tick of approval from potential buyers, consider installing a sociable kitchen island, adding some simple stools to a benchtop, or ensuring the dining table is in clear view of the kitchen workspace.
In the bathroom, McManus says to update features that are sure to shine. “Layer on a fresh lick of paint, re-grout the tiles, or update the hardware on your cabinets” he says. Even new tapware or a new light fitting could turn a tired bathroom around. These small spaces may not require a complete overhaul, but can be ‘lifted’ with a few new shiny details. Think about practicalities, too. Aesthetically, the bathroom doesn’t need to be the star of the home, but it does need plenty of storage space and clear, clean surfaces.
How your bathroom can sell your house
How your bathroom can sell your house
Youngson reiterates the idea that kitchen and bathrooms are big drawing cards for buyers. She says women, in particular, look at the more emotional, lifestyle qualities of the homes they are considering to live in. “Research proves that at the end of the day, women are the key decision makers in property transactions – that is, in 90 per cent of cases,” Youngson says. With that in mind, she says the top three features of a home that are most likely to influence women’s emotional connection to the home are the kitchen, bathroom and the home’s street appeal. She’s noticed the increased popularity of butler’s pantries, in particular. “The popularity of reality cooking shows has changed what buyers want in the kitchen, with some of the most fashionable design changes being made in the traditional heart of the home,” she adds.
OPEN-PLAN LAYOUT
If you’re prepared to make a bit more of an overhaul, McManus notes that in the past four years he’s seen a trend towards a higher desire for open-plan living, which, for some, may require you to make structural changes, or, at least, emphasise open, interconnecting spaces within the home. “Most buyers that I deal with will want an open plan out to a small yard,” he says. “Mum often asks if they can see the kids playing in the backyard from the kitchen, for example – it’s a massive plus.” Harvey agrees, and says removing walls, if possible, to create more open-plan living, is a great way to appeal to today’s market.
It’s best, however, to think of simple remedies before pulling anything down. If you have doors or furniture that zone off areas, consider removing these to open up the space. Does your dining table block the view to the backyard, for instance? Stand in the key zones of your house and see where your eye is drawn, then maximise the best possible view or flow into another zone.
If you’re prepared to make a bit more of an overhaul, McManus notes that in the past four years he’s seen a trend towards a higher desire for open-plan living, which, for some, may require you to make structural changes, or, at least, emphasise open, interconnecting spaces within the home. “Most buyers that I deal with will want an open plan out to a small yard,” he says. “Mum often asks if they can see the kids playing in the backyard from the kitchen, for example – it’s a massive plus.” Harvey agrees, and says removing walls, if possible, to create more open-plan living, is a great way to appeal to today’s market.
It’s best, however, to think of simple remedies before pulling anything down. If you have doors or furniture that zone off areas, consider removing these to open up the space. Does your dining table block the view to the backyard, for instance? Stand in the key zones of your house and see where your eye is drawn, then maximise the best possible view or flow into another zone.
In close relation to this is the desire for indoor-outdoor spaces, which Youngson believes is another new trend to take shape in recent years. “Sometimes described in property advertising as ‘outdoor rooms’, these new areas are taking a number of forms, including indoor-outdoor entertaining and living spaces, outdoor kitchens and even outdoor bathrooms,” she says. Level living areas that flow to an outdoor area, and the likes of sliding doors, covered patios and generous windows can help make a home feel more expansive, light and airy, and helps to bring the tranquil sense of nature indoors.
Having said that, if yours is a potential family home, ensure there are still ‘zones’ in which the kids or parents can escape to. “A house needs to have different zones that are functional yet aesthetically pleasing. Parents need quiet space from kids at times and vice versa,” says Harvey.
Having said that, if yours is a potential family home, ensure there are still ‘zones’ in which the kids or parents can escape to. “A house needs to have different zones that are functional yet aesthetically pleasing. Parents need quiet space from kids at times and vice versa,” says Harvey.
FRONT OF HOUSE
When it comes to property, first impressions last, and in some cases, they are the only impression you’ll have the chance to give. That’s why your front of house is such an important investment. Whether it’s a new mailbox, trimming overgrown trees, replacing the front blinds or resurfacing a worn driveway, McManus says sometimes something as simple as “a front garden that’s made over with light mulch” can help make your home stand out from the rest.
It may be that your front of house just needs some light maintenance or a good scrub. “A pressure cleaner will be your best friend during this process. You can clean concrete paths and driveways, wash the exterior walls, clean the windows, and wash down the fences,” says Youngson.
17 easy ways to maximise your home’s kerb appeal
When it comes to property, first impressions last, and in some cases, they are the only impression you’ll have the chance to give. That’s why your front of house is such an important investment. Whether it’s a new mailbox, trimming overgrown trees, replacing the front blinds or resurfacing a worn driveway, McManus says sometimes something as simple as “a front garden that’s made over with light mulch” can help make your home stand out from the rest.
It may be that your front of house just needs some light maintenance or a good scrub. “A pressure cleaner will be your best friend during this process. You can clean concrete paths and driveways, wash the exterior walls, clean the windows, and wash down the fences,” says Youngson.
17 easy ways to maximise your home’s kerb appeal
Quick-fixes that will impress potential buyers
According to a survey by LJ Hooker that interviewed 50 of their top agents, cluttered kitchen benches and indoor pet accessories are the biggest turnoff for potential buyers, which is a great insight for sellers, especially those on a tight budget. Remember that you want to appeal to a wide market, so clear out clutter and avoid stamping too much personality onto a space. “If you have a lot of different coloured feature walls, for instance, repaint the house in a neutral colour that appeals to everyone,” says Youngson. The bare bones of the property will be a definite detail in potential buyer’s sights, so present them in their best possible light – that includes floorboards, which may require refinishing, carpets which may need a steam clean, walls that can be repainted, and windows that may simply need a good scrub.
Start packing up now and clear up areas so there’s more breathing space. Essentially, you want people to be able to imagine themselves living in your home comfortably – not picturing how you live within the home.
10-minute styling tricks to make your home look better
According to a survey by LJ Hooker that interviewed 50 of their top agents, cluttered kitchen benches and indoor pet accessories are the biggest turnoff for potential buyers, which is a great insight for sellers, especially those on a tight budget. Remember that you want to appeal to a wide market, so clear out clutter and avoid stamping too much personality onto a space. “If you have a lot of different coloured feature walls, for instance, repaint the house in a neutral colour that appeals to everyone,” says Youngson. The bare bones of the property will be a definite detail in potential buyer’s sights, so present them in their best possible light – that includes floorboards, which may require refinishing, carpets which may need a steam clean, walls that can be repainted, and windows that may simply need a good scrub.
Start packing up now and clear up areas so there’s more breathing space. Essentially, you want people to be able to imagine themselves living in your home comfortably – not picturing how you live within the home.
10-minute styling tricks to make your home look better
Research the area you’ve come to call home
Finally, if you’re going to splash the cash, even just a little, do your research. Visit open houses in your area. Harvey even suggests listening out to what buyers are commenting on when inspecting houses. This will help you gauge your area’s buyer profile – do they prefer luxury or practicality, for instance? In addition to this, he says to look at properties online to find out what types of features are common for properties in your local area. “Stone benchtops might be standard in Sydney’s Mosman, for example, but aren’t so much the standard in Melbourne’s Cranbourne,” he says. Knowing what you’re up against will help you set your own benchmark and standard.
TELL US
Are you looking for a new home? What’s on your wish list? Let us know your thoughts in the Comments.
MORE
Sell Your House in a Flash: Top Home Styling Tips for Photo Shoots
How to Create the Illusion of Extra Space and Light When Selling a Home
8 Ways a Rug Can Help You Sell Your House
Finally, if you’re going to splash the cash, even just a little, do your research. Visit open houses in your area. Harvey even suggests listening out to what buyers are commenting on when inspecting houses. This will help you gauge your area’s buyer profile – do they prefer luxury or practicality, for instance? In addition to this, he says to look at properties online to find out what types of features are common for properties in your local area. “Stone benchtops might be standard in Sydney’s Mosman, for example, but aren’t so much the standard in Melbourne’s Cranbourne,” he says. Knowing what you’re up against will help you set your own benchmark and standard.
TELL US
Are you looking for a new home? What’s on your wish list? Let us know your thoughts in the Comments.
MORE
Sell Your House in a Flash: Top Home Styling Tips for Photo Shoots
How to Create the Illusion of Extra Space and Light When Selling a Home
8 Ways a Rug Can Help You Sell Your House
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Churchconverter, yep i relate to that!
Gabrielle Art Jones, well said!
@ Kerrie Langloy...thanks for your kind comments...and yes, its not the 'stuff" that makes a home especially if its only showy and otherwise uncomfortable. Of course if its going to be your forever home most certainly that is not the guide...if for resale then you'll have to cope with "what the buyers want" for a while...and hope it sells. I am sorry I ever fell for that nonsense! The buyers can dhange it if they want! I've spent the last several years recapturing the initial homey simplicity I'd created and trying to restore the dynamic I had going ,,,that's been hard and I am really upset that I let my otherwise single mindedness be swayed. Minus a couple of solid internal doors and a wall replaced with shutters the house does not function as well as it did. Over the years I've lived here my animal family has changed. I began as a breeder of a select line of Siamese Cats until my prize mother cat got killed on the road...so we lived out the rest of the pussycat lives gradually making little monuments in the garden and watering them with many tears...until I decided to take in rescues in my nice facilities. Now a couple of flyffy gingers live here with me and a big Neapolitan Mastiff protector dog. About 'stuff'...I had a hip replacement and was reluctant to replace an old comfy recliner that was my pet chair...so I had the rocker box base elevated....left the rest with just a throw and cushions. My Siamese were respectful of my upholstery...but not these little street kittens...so now I have a favourite chair that I call "my embarassment piece" sitting in pride of place in my art studio.....but its not my embarassment......and my cats enjoy the joke....
" Oh don't be such a stick in the mud...this is a perfectly lovely chair"
Rather the discomfort belongs to those who don't tolerate 'scruffy'..With my cats, .I rather enjoy watching them trying to restrain themselves from asking why I do not have it recovered...or replaced. Why? Its "homey" and suits my frame and the flying paint in my art studio...along with the occasional little multicoloured paw prints....Its a case of having the right 'stuff' in your home and it being yours how you like it. One day I might be framing the little coloured paw prints...then maybe I'll find another chair that fits me. My home...my furniture...my old brass taps and sentimental make-dos! And yes...every sensitive person who visits remarks how peaceful the atmosphere is. I've bought and sold three houses and all I have ever done is declutter, shampoo, steam clean and sell "atmosphere".