8 Things SWFL Homebuyers Are Looking For In 2022
We are well into 2022 now, and we have a good idea of what home buyers are seeking out based on the conversations we've had so far. Here's what we have learned...
In today's market, we've found that home buyers are specifically concerned about rising home values and what we call the appraisal gap (click here to read our article on that). With recent increases in mortgage rates, some are concerned about overall affordability. As your Realtor®, we want everyone to be rightfully informed and comfortable with their decision to buy or sell.
#2. Return on Investment
Every real estate purchase is an investment. We've found that today's buyers have a greater interest in the opportunity to build home equity as the market continues to appreciate. Others are interested in knowing what their property could generate in rental income. Examples of home appreciation and paperwork such as rental history, or a rental proforma are especially appealing to today's home buyers.
#3. Home Condition
Home contractors are booked out and are still experiencing supply chain shortages, making it hard to complete their current home renovation projects. Because of this, today's buyers are especially keen on buying a property that is well-maintained and liveable in its current condition. Sellers, any problem that could surface during the home inspection should be taken care of immediately to avoid possible delays in your home sale.
It used to be that most homebuyers didn't care too much whether or not the home they were purchasing came furnished. In fact, some preferred an empty slate so they could furnish and decorate with their own belongs or to their own taste. But again, with today's supply chain shortages, new furniture is still hard to come by. I'm sure you've heard the "backorder" stories. We've found that in our second home market, most homebuyers are happy that some or all furnishings are included in the sale.
#5. Home Office
Not everyone who moves to Sanibel is retired! In fact, we've seen an increased number of people purchasing a second home or even relocating entirely to Southwest Florida now that they are able to work from home. Interest in home offices or a bonus space for hobbies like sewing, painting, crafting, etc. are very popular right now.
#6. Outdoor Space
Homebuyers want outdoor spaces the Ritz Carlton would be jealous of. Luckily, that's easy to do when you live in paradise. Fire pits, water features, pools, sprawling gardens, outdoor TVs, and outdoor kitchens... you name it, they'd love it! Don't worry if your home currently doesn't have any of those things. Even a small space could be transformed into a lovely outdoor area with just a little elbow grease.
#7. Storage Space
The ability to stock up on essentials, store your beach gear, and protect your vehicles from bad weather is important to homebuyers today. If you’ve got some extra room in your garage, consider adding cabinets and shelving to maximize the storage space. When selling your home, it's always our advice to downsize your closets so that potential homebuyers see how much storage room there is.
For the holidays and vacations, buyers find it important to have a dedicated space for their loved ones to comfortably visit them. This includes a bedroom and their own full bathroom. Today’s homebuyers are prioritizing homes with large guest rooms, guest suites, or large open spaces that could be turned into guest suites.