Knowing what buyers are looking for is the first step to selling your home...
Are you thinking about upsizing, downsizing or simply looking for a change of scenery? Then you'll need to be aware of and cater to the changing needs of buyers – and over the last few years, there have been a few. So whether you're looking to make a quick sale or not, we're here to discuss what buyers' needs and how to meet them. With more properties coming on the market in 2023, you'll want yours to stand out.
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Before the pandemic, the studio flat was the second most sought-after property type. Then, throughout the pandemic, there was a growing appetite for two, three and four-bedroom houses, as more and more buyers were looking for more space. Even now, although the want for space may have slowed, many buyers, especially those who work from home, still require an extra room or that additional space to accommodate an office space.
According to the ONS, 78% of home and hybrid workers reported having a better quality of life* – a trend that is sure to continue and be the focus of buyers. With many companies having adapted to hybrid or remote work models, the demand for a home office is still at the top of many buyers’ lists. For some, this has been a permanent change making it well worth converting one of your rooms into a workspace to appeal to potential buyers. If you get it right, a home office can be a fairly simple setup. Natural light is a must and where you can, try and provide ample plug sockets for computers, printers and anything else necessary to work.
Aside from the environmental impact of using excessive fuel, the financial cost of energy is at the top of everyone’s mind, and most buyers will be keen to know how efficient your home is. If you don’t already know, find out what your energy rating is and compare it to other homes on the market that are similar to yours. Rightmove has recorded a 73% increase in the use of terms such as ‘low carbon’ and ‘sustainable’ in property listings since the start of 2020. Therefore, include any energy-efficient features in your listing, or list any potential adaptations that can help make the property more energy efficient.***
If you’re keen to make improvements to your home, read our article to find out more about what energy-efficient features you could include in your home.
Access to good parking is popular with homebuyers. Firstly, for convenience, but secondly because it lowers the insurance premiums for their car. If you don’t have ample parking, research what the options could be for potential buyers. Being able to provide this information may resolve the issue, and lead to a faster sale.
After wanting to have parking space, buyers are looking for homes with an outdoor space or homes that are within walking distance of green spaces. If you have a garden, try to maximise its appeal with garden furniture and features. A good outdoor space can really help attract a wider pool of buyers and if you want some tips on how to make the most of your garden, head here.
Country vs city living
As mentioned before, the pandemic led to an influx of people looking for space and moving out of cities and into more rural areas. But cities are making a comeback, as more and more people are looking to move close to their workplaces, friends and local amenities.** However, while the socialising aspect is drawing people back into cities, many are still looking for more space, so when listing your property, be sure to highlight its outdoor credentials or, where relevant, its easy access to the countryside.
There has undoubtedly been a shift in buyer preferences over the last few years. We want to make sure you’re aware of these changes so you can make sure your home matches the needs of a moving market.