Home Buyer Wish List Includes Bells and Whistles

A new home buyer survey by the National Association of Home Builders reveals the home features, amenities and locations most coveted by today's buyers. While the survey isn't necessarily scientific, it's interesting to look at the sale points the survey revealed. Here are some examples, in random order!

1. Double sinks in the kitchen; a "prep sink" as well as a full, traditional sink.

2. Energy-star rated appliances.

3. Energy-efficient and convenient laundry facilities.

4. French doors.

5. Wireless home security systems.

6. Whole-house technology, allowing entertainment and utility controls in virtually every room.

7. Well-appointed bathrooms with both a tub and a shower stall.

Please keep in mind that this is a "wish list" and that home buyers are not necessarily willing to pay more for any of these features. But these are the "wow" factors that could influence buyers, potentially, to choose one home over another, according to the survey.

What turns off home buyers? Laminate counter tops.

The survey also indicated surprising results about location preferences. We've been hearing about "walkability" and "infill" development trends, but according to the survey, suburbia is alive and well:

• 30% of buyers prefer close-in suburbs
• 36% of buyers prefer to live in the outer suburbs
• 27% would prefer rural living

What's out? Golf-course homes. Unless, of course, the buyers are avid golfers! Meanwhile, gated communities that offer walking and jogging trails, and amenities like pools and tennis courts, still hold buyer appeal.

What matters the least? If you can believe it...home size! According to the survey, home buyers would cheerfully take a smaller home over a larger one, if it had the upscale features they desired. They would also choose a home with energy efficiency, over one that is not efficient, even if the non-efficient home was less expensive.

Before you run out to the local home improvement store to invest in upgrades, talk to me first! If you are preparing to sell your Millburn-Short Hills home, you should obtain a comparative market analysis to find out your home's price range before you make improvements. I will also provide you with a net sheet to show your estimated sale proceeds, and I will counsel you on competitive marketing strategies.

 As your Millburn-Short Hills real estate professional, I will provide the expert guidance you need for a successful home sale!

Elaine Pruzon
Coldwell Banker Residential Brokerage
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Home Improvements That Pay Off for Millburn-Short Hills Home Sellers

The latest Cost vs. Value report has some eye-opening facts about how your home upgrades translate into dollars! This information is good to know if you are thinking of selling your Millburn-Short Hills or Summit, NJ home now or somewhere down the road. The report finds that exterior projects pay off the best! Here are the highlights!

1. Steel exterior door replacement is the project expected to return the most money, with an estimated 85.6% of costs recouped upon resale. This is also the least expensive project in the report, costing little more than $1,100 on average.

2. Updating your home's exterior siding can return 71% of costs. Different types of siding offer varying degrees of return; fiber cement siding returns 79.3% of costs. Vinyl siding returns 72.9% to your wallet.

3. Replacing old, beat-up garage doors improve curb appeal and also pay you back pretty well. If you go with a mid-range or upscale garage door replacement, you can expect to recover about 75% of your costs.

4. As far as interior projects go, kitchen remodeling remains the number one interior project for return on the money. The rule of thumb here is to keep it sensible. A minor kitchen remodeling project has an average national cost of $19,000 and will return about 75.4% of costs to your wallet.

What is the least bang for the buck? Per the national averages, a home office offers the least return for the money, at only 44%. Even though working from home has become more common, this type of feature appeals to a smaller percentage of home buyers. 

If you are preparing to sell your Millburn-Short Hills home, you should obtain a comparative market analysis to find out your home's price range in today's market before you make major improvements. I will provide you with a net sheet to show your estimated proceeds after the home sale. I will counsel you on what improvements are most likely to benefit your home sale and your bottom line!

As your Millburn-Short Hills real estate professional, I will provide the expert guidance you need for a successful home sale! Contact me today, and let my 18 years of experience be your market advantage!

Elaine Pruzon
Coldwell Banker Residential Brokerage
Visit My Website
See My Listings
Become My Fan on Facebook
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Add Me to Your Circle