If you thought 2020 would be the year you finally put your house on the market, the coronavirus pandemic may have put a stop to your plans.
However, we’ve been in the COVID-19 era for more than six months and there’s no apparent end in sight. The real estate market is heating up again, with purchasers anxious to upgrade to a new home as many people continue to work and log in to school from home.
So don’t put it off any longer: now is the moment to get serious about selling your home. We spoke to experts to find out which home upgrades will appeal to buyers during the pandemic (and beyond).
1. Upgrade your outdoor space
These days, most of us are suffering from a severe case of cabin fever. It’s no surprise that prospective buyers value outside space more than ever before.
“Even pools are becoming more popular in locations where they were previously unpopular,” says Bill Walker, chief operating officer of Kukun, a home improvement website.
That doesn’t mean you have to spend a lot of money on a new in-ground pool; even a small landscape change may make a great difference and boost curb appeal. You might also explore installing an in-ground fire pit or outdoor kitchen to maximize your outside area, depending on your budget and your community.
2. Create a functional home office or classroom
Many people won’t return to work until 2021 or later, which means home office space, as well as space for kids to join in to their virtual classes, are in short supply.
“People need a dedicated location for numerous people to be on calls at the same time,” says Walker, who works from home with his wife and children who attend virtual school. “When we all need to be on calls and need room to work, it obviously poses issues.
Consider presenting your property to show buyers the potential, even if you don’t need two home offices or a remote learning station for your own family.
According to Walker, staging a guest bedroom as a home office or school is a fantastic idea. “The potential buyer can see how the room might be used in a variety of ways and see themselves in it.”
Plus, according to Walker, most of us welcome guests in our guest rooms for less than a month every year, and even less during the pandemic.
3. Add separation of space
Open floor layouts are a thing of the past.
“Open floor patterns are starting to lose their allure,” Malina says. “Homeowners want separate areas for family members to work or study.”
If your area isn’t well-segmented, consider installing barn doors or pocket doors—or even room dividers—to create different spaces.
Having separate rooms helps to reduce noise from other people’s activities and can also give each area of the house a distinct atmosphere.
“As individuals spend more time at home, they want more space and diverse locations so they don’t feel trapped,” adds Walker.
4. Add space for a home gym
To reduce the danger of coronavirus transmission, many people are skipping the gym during the epidemic and instead working up a sweat at home. People are seeking for places to store gym equipment, such as yoga mats, treadmills, and stationary bikes.
Even if you don’t have enough room for a full-fledged home gym, you can still carve out a spot where potential buyers may envision themselves doing at-home HIIT workouts or yoga sequences.
5. Give your in-law suite a makeover
If you have a guest house, this might be a very appealing feature for purchasers right now, especially those with multigenerational homes or those searching for a prospective rental income stream.
“[Additional dwelling units] are an excellent alternative for folks bringing elderly family members home, especially if there is a kitchen and bathroom,” Walker says. “Even if this area isn’t used for personal reasons, it can be a profitable investment.”
6. Spruce up the laundry room
During the epidemic, concerns about cleanliness and hygiene were at an all-time high, which means “laundry rooms are more necessary than pre-COVID,” according to Malina.
People are doing laundry more frequently after running errands, and many of us are washing our bed linens more frequently. Plus, who doesn’t want additional space for ironing, folding, and hanging items to dry?
“Having a dedicated laundry room is a tremendous luxury, and buyers typically want it to be as lovely as the rest of their home,” Malina explains.
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