When choosing the right home to buy, it’s important to think about resale and future value since this real estate purchase will be one of the biggest investments you’ll make. While it’s easy to replace flooring or update bathrooms, modifying a floor plan is much more difficult. It can take weeks (and tens of thousands of dollars) for a contractor to knock out walls or relocate plumbing. Especially if you’re comparing older homes that need some work to elevate them to modern standards, it’s important to find a good floor plan that appeals to buyers today.
Whether a home is new or old, 1 story or 3 stories, small or large, most buyers look for these 3 features in their floor plan. Keeping these trends in mind will help you to choose a good floor plan that is desirable to more buyers and in effect increase your future home value potential.
A Kitchen that Opens to the Den
No buyer wants to be cooped up in the kitchen cooking while family or guests are having fun in the den. Since the den is the largest room in most homes, this space is where kids or friends tend to congregate. Increasingly, buyers are wanting the kitchen to flow into the den or other common space for entertaining purposes or to keep an eye on the kids while they prepare dinner. The kitchen and den don’t necessarily need to be one giant room. However, even having a large archway or other opening that allows for viewing in between the rooms is helpful.
A True Master Suite
It can be hard for older homes to compete with newer floor plans that boast tray ceilings, enormous walk in closets, and full scale bathrooms in the master suite. Fifty years ago, a master bedroom was only slightly larger than the other bedrooms. Two standard sized closets were typical (if you were lucky). Couples had to share a sink when brushing their teeth, and if you wanted to take a soak you simply filled the standard shower with water. Today, buyers like having a deep soaking tub that is separate from the standing shower. They expect to have dual vanity sinks. The standards are much higher today the master suite.
Although I’ve seen some fantastic renovations in older homes where an adjacent bedroom was turned into a walk in closet or luxurious bath, most buyers don’t have the cash or inspiration to make this happen. The bottom line is to look for a master suite that meets as many of these trends as possible.
3 to 5 Bedrooms is Perfect
When 1 or 2 bedroom homes come onto the market, they tend to sit for a much longer time and sell for a much lower price. Even if a buyer doesn’t have roommates or children, she’ll want to have adequate space for when guests come into town (especially in a city like Charleston where family and friends love to visit). Or, an extra bedroom might get used as a home office, which is a trend we’re seeing more and more as employees have the flexibility to work from home.
Most modern buyers want at least 3 bedrooms. Houses with 4 bedrooms tend to sell the best because it gives ample space for guests, kids, office space, man caves, play rooms, and all the other demands that buyers today have. In our Charleston housing market, properties with more than 5 bedrooms can be a tougher sale since many buyers would prefer a marsh view or pool to the large size of these rarer homes.
Property Value = Appealing to the Most Home Buyers
If future property value is important in your real estate purchase, you’ll want your home to appeal to as many home buyers as possible. When a house sees strong demand, it will take less time to sell and yield more money for its owner. Finding a listing that meets these 3 trends in today’s market can increase your property value and ensure a strong return on your investment for years to come.