It’s a great time to sell your home. In many areas of the country, property values continue to rise and inventory remains historically low, although it seems that has softened a bit over the past several months with more homes hitting the market. .
When the Fed recently cut rates for the first time in over four years, mortgage rates dropped fast. Now, with the expectation of more rate cuts ahead, homes sales and mortgage refinancing volume should climb. And, although no one knows for sure, its possible we’ll see an active housing market in 2025. That's good new for sellers. It also means that sellers will have to step up their game in a highly competitive environment, which may mean fixing that leaky shower and getting a new roof.
We’ve featured the top 13 features buyers surveyed by the National Association of Home Builders (NAHB) said they wanted in 2024. Some are small projects that you could do yourself fairly quickly and cheaply. Others require more time, money and planning to find and hire contractors and get materials, which can be a tough ask amid a remodeling boom and shortages of labor and materials.
Overall, buyers are opting for smaller homes with design touches important to them, like a master bath on the main floor or a front porch. Buyers want to have plenty of comfortable, well-lit outdoor space. They value nearby parks and walkability.
As the housing market continues to rebound, would-be sellers should think twice before skipping out on areas of their homes in need of serious upgrades. Home buyers are willing to spend more on homes with higher-quality finishes in sought-after neighborhoods. Ensure your home is in top condition to get the most attention and the highest possible price.
With a few exceptions, you’re unlikely to recoup all your remodeling costs when you sell. According to Remodeling magazine’s 2023 Cost vs. Value report, sellers were estimated to recoup 23% to 104% of the cost of the 23 projects considered in the report. For example, the average cost of a mid-range bathroom remodel is $24,606 (up from $24,424 in 2021). You'd recoup about $16,413 (67%) of that amount within a year.
The report found that you generally get the biggest bang for your buck on outdoor projects, such as replacing a garage door, entry door or siding. The highest return on investment (ROI) comes from swapping an HVAC system from oil or gas heat to an electric heat pump, yielding 104% ROI. These conversions are also eligible for substantial tax credits available for home energy efficiency projects.
The cost of doing nothing to your home can be far greater than the small loss you'll incur on any home improvement project. "Getting stuck in time with your home isn't a smart move and is rarely rewarded financially at sale time," said Compass broker Brian K. Lewis. "In fact, it may cause your house to linger longer on the market longer. As a result, you'll likely have to pay ongoing mortgage, maintenance and staging costs."
If you want to get the most bang for your buck, focus on features that most home buyers really want to see and that you’ll enjoy for as long as you live in the home. Consumer tastes can vary by region, so consult with your real estate agent to find out which home features are in high demand in your area, advises Dr. Jessica Lautz, vice president of demographics and behavioral insights for the National Association of Realtors.
Selling your home? Here are those 13 home features buyers want most.
- Percentage of buyers who want this feature: 86%
- Cost to install: $1,300 to $15,000, depending on location and finishes
More than anything else, homeowners want a dedicated laundry room where they can hide the dirty clothes and stack the clean ones until they get put away. A separate laundry room tops the National Association of Home Builders' (NAHB) list of most-wanted home features by buyers. "Having a separate room [to use for things such as folding or ironing clothes] helps to keep the mess out of your living space . . . Potential buyers will see it as a huge benefit," says Paul Sullivan, founder and president of the The Sullivan Company, a Newton, Mass., remodeling and custom-building firm.
If you don't have an existing laundry room and want to add one, the basement is usually the easiest (and cheapest) place to put it, Sullivan advises. The utility lines are already there, and in many cases the basement is unfinished, so you won't have to demolish anything first.
If you’re investing in a new washer and dryer, look for Energy Star-certified models that will save you energy and money. Add good lighting and a utility sink, where you can wash out or presoak heavily stained or dirty items. Depending on your budget and space, you can add stock or custom cabinetry, a folding table or countertops.
- Percentage of buyers who want this feature: 86%
- Cost to install: $2,028 - $6,013
It's important for homeowners not to neglect the backyard area when prepping for resale, says Mike McGrew, chairman and CEO of McGrew Real Estate, a Lawrence, Kansas-based realty firm.
In today's housing market, outdoor living spaces have become one of the most coveted outdoor home features.
"When most buyers see a house with a really nice backyard, they start to envision themselves sitting outdoors with friends having drinks," McGrew adds. Also, outdoor areas offer more living space without the cost of a large-scale home addition.
With the popularity of home renovation reality shows, many buyers have come to expect the eye-catching features they see on TV in real life, the NAR's Lautz says. Some of these shows, such as HGTV's Curb Appeal and Backyard Takeover, focus on outdoor living spaces. The more expensive the home, the more buyers desire exterior features, such as an outdoor kitchen or fireplace, says the NAHB.
Because patios are generally made of concrete or pavers, they tend to cost less than a wood deck or porch to construct and are generally easier to maintain, say, with powerwashing versus periodic staining and resealing or painting. However, their resale value will likely be less than a deck or porch, according to BobVila.com.
- Percentage of buyers who want this feature: 83%
- Cost to install: $450 to $1,400 per window
Would-be buyers looking to lower utility bills will be drawn to properties with Energy Star-qualified windows and appliances. "Gone are the days when these types of features were an anomaly. Today's home buyers expect energy efficiencies," Compass' Lewis notes. If you don't already have these features, including new windows, examine your remodeling budget and decide what you'll need to spend to upgrade.
You can get up to $600 in federal tax credits on qualified Energy Star windows. Check the Department of Energy website for federal and local rebates and other offers. It also pays to research how to get tax credits for energy-efficient home improvements.
Energy Star-qualified windows have two or three panes of glass with vacuum-sealed spaces filled with air or inert gas between panes, sturdier weather stripping than regular windows and improved framing materials — all of which reduce undesirable heat gain and loss in the home. They can trim heating and cooling costs by 12%. Once installed, sellers should be sure to play up these money-saving features in their home listings.
- Percentage of buyers who want this feature: 82%
- Cost to install: $2,000 - $6,000 for professional installation
Illuminating a well-manicured lawn with exterior lighting can help grab the attention of potential buyers, even before they set foot through the front door. In fact, exterior lighting is the most-wanted outdoor feature after patios, according to the NAHB report. Options include spotlights, walkway lights and pendant lights.
Aesthetics aside, exterior lighting also serves as an added safety feature for your home, says Daniel Hurst, owner and general manager of Hurst Design-Build-Remodel, an Ohio-based home remodeling company. Motion-sensor lights, for example, turn on automatically whenever there is movement outside your house and is an added security feature appreciated by most buyers.
- Percentage of buyers who want this feature: 81%
- Cost to purchase and install: $185 to $4,618 per fixture
In addition to improving a home's aesthetic (and adding a little wind in your hair), energy-efficient ceiling fans (ranging in price from $45 to $4,000 at Lowe's) can also help lower cooling costs when used in conjunction with or instead of an air conditioner during the warmer months.
Ceiling fans create a wind-chill effect that helps cool the people sitting in the room. Homeowners should be able to raise the thermostat level by four degrees without a reduction in comfort while the fan is in use with air conditioning, according to Energy.gov.
Energy.gov also recommends that ceiling fans only be used in rooms with a ceiling height of at least eight feet. The fans work best at that height and when they're hanging 10 to 12 inches below the ceiling.
If you use air conditioning, a ceiling fan will allow you to raise the thermostat setting about 4°F with no reduction in comfort. In temperate climates, or during moderately hot weather, ceiling fans may allow you to avoid using your air conditioner altogether.
- Percentage of buyers who want this feature: 81%
- Cost to install: $600 to $2,600 to add a storage system to an existing garage, or $16,281 and $39,472 to build a new garage
Buyers with growing families need lots of storage space. Would-be sellers should keep in mind that "organized living spaces (including the garage) equates to more dollars in your pocket at sale time," Compass' Lewis says. Carving out some space in your garage to help keep clutter out of the main living spaces could help your bottom line. "Make sure the bonus space is easily accessible and wonderfully organized," Lewis advises.
The installation cost listed includes adding storage, electric circuits and lighting, plus peg wallboard for tool storage.
- Percentage of buyers who want this feature: 81% (75% of buyers would like a rear porch or deck)
- Cost to install: $4,600 to $22,000 on average for a 200-square-foot porch
A front porch provides a place between the curb and front door where homeowners can relax, watch the world go by, and interact with friends and neighbors. Because it’s covered from the elements, it’s serves as an extension of your living space. It protects you from the rain, sun and bugs if screened in. However, the overhanging roof will reduce the natural light your home receives through front windows (skylights in the porch roof will help).
According to ThisOldHouse.com, a porch should be at least six feet deep to allow for comfortable seating, or ten feet deep for outdoor dining. (Many newer homes are built with a shallow porch of say, four feet deep, which is aesthetically appealing but more for looks than real-world use.) Make sure the style and color of the porch matches your home.
If you already have a porch, provide comfortable seating without overcrowding the space. Add pops of color with cushions, pillows and a rug meant for exterior use, and containers of flowers. Add a ceiling fan rated for outdoor use to provide a cooling breeze on hot days.
If you want more privacy and less street noise or don’t want to reduce natural light in your home, a deck out back may be a better alternative than a front porch. According to BobVila.com, because a deck doesn’t have a roof, it’s lighter than a porch and often needs less structural support. So for the same square footage, it will probably cost less than a porch. The typical cost of a deck ranges from $4,349 to $12,361, according to Angi.
As with any addition, make sure your project is permitted, conforms to building codes and doesn’t cause you to exceed lot coverage requirements in your area.
- Percentage of buyers who want this feature: 81%
- Cost to install: between $6 and $25 per square foot for professional installation.
Hardwood flooring offers a natural look, is less allergenic than carpet, is easier to maintain and is more durable than carpet, which needs to be replaced every 10 years or so. It can be refinished periodically and lasts a lifetime. However, keep in mind if replacing your flooring when selling your home, that hardwood flooring can experience excessive wear and tear in high traffic areas.
Sellers on a budget may want to buy engineered wood flooring, which is a hardwood veneer on top of several layers of other types of wood that form a plywood core. One popular brand of engineered wood flooring, Pergo, cost between $4 and $20 per square foot for materials and installation.
- Percentage of buyers who want this feature: 80%
- Cost to install: $2,500 – $15,000, small to full bathroom remodel cost
A full bath typically includes a sink, toilet, tub and shower. Families like one on the main floor because it makes it easier for parents to supervise bath time. Guests don't have to trod upstairs to use the bathroom and it makes cleaning up more convenient when coming in from playing or barbecuing outside.
Older people like it because of the potential to live on one floor, especially if an adjacent room could be converted into a bedroom. An existing powder room could be converted to a full bath by using space from an adjacent closet or hallway.
The typical space required for a small bathroom, with a tub-and-shower combination, is 40 square feet (typically 5 feet by 8 feet), according to Modernize.com. Older folks may want a separate walk-in shower, which requires a bit more space (45 square feet, or 5 feet by 9 feet). Consider swapping a swing door for a pocket door and adding features to enhance accessibility, such as a wider doorway, nonslip flooring and grab bars.
- Percentage of buyers who want this feature: Everyone
- Cost to install: $150 to $350
Efficient home appliances can save you money and add value to your home when it's time to sell. That's because they cost less to run over their lifetimes than less-efficient models. They also often come with incentives. Since the Energy Star program was introduced in 1992, it has helped to reduce energy costs by $450 billion, according to Energy Star.
An Energy Star clothes washer will save you about $550 in electricity costs over its lifetime. Some utility companies also offer rebates for switching to Energy Star models. Check the Energy Star Rebate Finder to check for rebates on the appliance you want to replace in your location. The largest rebates are for heat pumps (30% off, up to $2,000) and geothermal heat pumps (26% off the project's cost in 2024).
- Percentage of buyers who want this feature: N/A
- Cost to install: $1,500-$20,000, including materials and labor
A walk-in pantry is a coveted kitchen feature among buyers polled in the NAHB's report. Why? Home buyers with families know that the kitchen can quickly become overcrowded when there's not enough space to store the essentials (think: canned goods, condiments and food storage containers). And those who shop in bulk at warehouse clubs or big box retailers to avoid making frequent trips and face in-store crowds, usually need a lot of extra space in the kitchen area to store their goods.
Unlike reach-in closet pantries with sliding doors that offer limited space, walk-in versions allow homeowners to store larger quantities of non-perishable food items and other kitchen essentials just steps away from the food prep area, suggests Neil Parsons, a project designer for Move or Improve a Matawan, N.J.-based home design firm.
Walk-in pantries are typically 5x5 feet and have U-shaped open shelves or cabinets with a countertop, according to ThisOldHouse.com. Make sure the pantry is situated somewhere that is cool and dry for longer shelf-life of perishables.
- Percentage of buyers who want this feature: N/A
- Cost to install: From $2,000 to as much as $50,000 depending on the project’s scope.
Sprucing up your lawn and plantings before a sale is a no-brainer. If done well, sellers can get a 104% return on investment. The typical cost for this type of project is between $1,300 to $6,000.
Trees and hardscaping (walkways, walls, etc.) are the anchors of a good landscape design. A well-placed, mature and healthy tree can increase your home value between 10% and 15%, according to Home & Garden. Avoid invasive trees or those that might turn prospective buyers off with a bad odor, like female ginkgo trees.
According to Angi, natural flagstone walkways give sellers a 100% return on their investment. If you have grass, ensure that it is healthy and trimmed. And of course, clean up and mulch your flower beds, but don't overdo it. If you add too many new plants or trim too much, your landscaping will lack charm and may look fussy. Landscaping projects to avoid include installing artificial grass and installing a large amount of concrete in the yard.
- Percentage of buyers who want this feature: 78%
- Cost to install: $4,000 and $5,000 on kitchen island materials. The same for labor.
Eat-in kitchens — that is, table space or an island for eating in a kitchen — are a must-have for buyers in the the NAHB poll. They're especially attractive to families with children. It’s a space not just for eating, but also for doing homework, crafting, helping with food prep and more. If there isn't room for a separate table, most buyers are also happy with a banquette or island seating. According to the study, 53% of buyers want built-in kitchen seating.
Removing a non-load-bearing wall to create space for a small table in your kitchen is relatively inexpensive (as little as $1,000, according to Angi), but that price can quickly escalate if your demolition reveals plumbing, duct work and electrical wiring that needs to be removed, Move or Improve's Parsons says, "if the wall is load-bearing, you’ll pay up to $1,200 in a single-story home or up to $10,000 in a multiple-story home.
If you're on a tight budget and can't afford to knock out a wall to create more space for a table and chairs, Parsons suggests you consider adding a center island with room for bar stools. You can purchase prefabricated kitchen islands with space for seating at Wayfair.com for between $159 to $2,845.
