Within the past year and a half, the real estate market has changed drastically, not only in terms of housing prices but in what features are most desirable in a home. Since the start of the pandemic and stay-at-home orders, the time Americans spend at home has increased by close to five hours, causing many Americans to reconsider what features they most desire in their living/working space. Armand Candea of Candea Development, the Chicago-area real estate development firm, has seen these changes first hand and today will share what American buyers most desire in a home’s features in 2021.
Expected Costs: Between $1,500-15,000
Percentage of home buyers interested in this feature: 87%
Out of any home feature, homeowners have noted an interest in a dedicated space for laundry where they can wash/dry clothes, iron shirts and pants, and keep dirty clothes out of the living space. According to the National Association of Home Builders’ (NAHB), this feature tops the most-wanted features list of a majority of home buyers. As the average time homeowners spend at home continues to increase, it has become more important for homeowners to keep an organized home and a dedicated space for laundry.
Expected Costs: $1,700 to $4,500
Percentage of home buyers interested in this feature: 82%
Since the start of the COVID-19 pandemic, there has been a stark uptick in the interest of buyers in functional outdoor living spaces. Homes with wood/ concrete patios, outdoor kitchens, built-in grills, and fireplaces have received much more interest from prospective buyers in 2021 than homes with grassy yards. To increase the value of a property, Armand Candea of Candea Development recommends homeowners invest in a dedicated outdoor living space.
Walk-In Kitchen Pantry
Expected Costs: $600-$2,000 depending on the scale of the project
Percentage of home buyers interested in this feature: 81%
According to the most recent NAHB report, a walk-in pantry is home buyers’ second-most desired kitchen feature, just behind a double sink. Most homeowners would agree that a kitchen pantry’s additional storage space is essential to avoid overcrowded shelving and can help create a more enjoyable cooking experience. With new trends in organization, a kitchen pantry’s ability to store clear food storage containers and canned goods also has another level of appeal.