Home Features Worth More Money to First-Time Homebuyers
As a homebuyer, some home features are more important and even worth more than others. In fact, some homebuyers may be willing to pay 29 percent more for certain features. What features are worth more money? According to a report from RealEstate.com, a subsidiary of Zillow, first-time homebuyers are willing to pay more for these popular farmhouse and Craftsman-inspired features. How much more? Here’s a look at the features found in the report, plus how much more a homebuyer is willing to pay:
By analyzing listing descriptions from millions of entry-level homes (homes within the bottom third of the market), RealEstate.com determined that listings with the above hot-button words sold for increased value.
While these are highly desirable features, it turns out they only pay off in entry-level homes for first-time homebuyers. For example, barn doors in a top-tier home only sell for around six percent more. When you factor this in, it is essential for sellers to determine their audience and how to best appeal to that particular segment of the population.
Also, keep this in mind; millennials account for 42 percent of all homebuyers and 71 percent of first-time homebuyers. As millennials represent a large percentage of the population, it is important to recognize their preferences when it comes time to sell – especially if your home falls in entry-level status (homes within the bottom third of the market).
Thinking about selling your Austin area home? Reach out anytime. I am always available to help!
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