What sells a house in 2023? As years change and trends come and go with evolving lifestyles, buyer priorities also fluctuate. What sold a house 10 or even two years ago won’t necessarily be what sells it today. If you’re thinking about selling soon, highlight these sought-after features to make your property stand out in today's competitive real estate market.
An assumable mortgage
In today's real estate landscape, an assumable mortgage has emerged as a true gem for homebuyers. Interest rates are at a 20-year high and they don’t show signs of dropping, so securing affordable financing is a top concern for many prospective homeowners. An assumable mortgage allows a buyer to step into the current homeowner’s shoes and take over the home’s existing mortgage—with its interest rate still intact. This means if you have an assumable loan from just a few years ago, you’re potentially offering an interest rate that’s less than half of the current rate available in the market. That equates to lower monthly payments and massive long-term savings for the buyer, so if you have this feature, be sure to highlight it in your listing.
Not sure if your mortgage is assumable? Contact your lender to find out, and then let your real estate agent know.
A flood of natural light
2023 is the year of light-infused living spaces. Natural light wins out as the #1 must-have feature across surveys and publications in markets across the country. It makes spaces in your home look and feel larger, airier, and more open—but that’s not all. Beyond aesthetics, abundant natural light has been linked to better mood, increased productivity, and even reduced energy costs.
To captivate buyers, enhance the features in your home that maximize the light light. Expansive windows that frame picturesque views, strategically placed skylights that create a sense of openness, and open floor plans that allow light to flow seamlessly throughout the living areas are all highly desirable. When you’re ready to show your property, ensure that the windows are crystal clean and consider light-toned window dressings. Arrange your furniture in a way that maximizes space and openness in your home, and change your lightbulbs to soft white versions free of dust. Additionally, try to schedule showings during the time of day when your home receives the most natural light, which will depend on its orientation according to the sun.
Highly usable outdoor space
The desire for outdoor living spaces has reached new heights in 2023. What started as a pandemic trend has become the new normal, with highly usable outdoor spaces at the top of most buyer must-have lists. Buyers now envision their homes as retreats where they can entertain, relax, and connect with the outdoors. That means fenced areas and spacious backyards, comfortable seating, outdoor bars and kitchens, cozy fireplaces, shades and screens, upgraded lighting, integrated sound, beautiful landscaping, and more. Consider enhancing your property's outdoor appeal with these elements, and be sure to highlight them when you go to sell. Having an open house? Make sure you lead your visitors outside with food and drink offerings so they can experience all your property has to offer.
A versatile kitchen island
The kitchen, long considered the heart of the home, continues to be a focal point for buyers in 2023. Today’s kitchens must be as beautiful as they are functional, which means integrating on-trend stylistic choices with smart home tech and top-of-the-line appliances. One major must-have on buyer lists? A versatile kitchen island.
An expansive kitchen island with a variety of features can be a game-changer, providing a multifunctional space that serves as the home’s hub of cooking, dining, and socializing. Think of an island with abundant storage, countertop space, and seating for casual meals or conversations. Including features like a built-in sink, dishwasher, and wine cooler can further enhance its functionality and appeal. A well-designed kitchen island not only contributes to the aesthetic appeal of your home but also makes daily living more efficient and enjoyable for prospective buyers.
A dedicated laundry room
In 2023, homeowners are increasingly valuing practicality and organization, and the desire for a dedicated laundry room is a clear reflection of this trend. A well-equipped laundry room significantly enhances a home's appeal by offering a designated space for doing laundry. This separation from other living areas keeps the home tidy and provides space for washing, drying, folding, ironing and more—as well as storage for the associated appliances and supplies. If your home doesn’t have a laundry room, you can improve its laundry area by providing separation with room dividers, area rugs, and shelving.
Already have a laundry room? Make sure it’s outfitted with ample storage, generous countertop space, and a utility sink for added convenience. Don’t leave this room looking utilitarian, either. Paint it with soothing hues and choose aesthetically pleasing laundry baskets and accessories. This attention to detail and organization will resonate with buyers, making your laundry room a sought-after feature that will help your property stand out.
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