By Yuka Kato, Owner and Author of fixr.com
While a trend is defined as any popular design that lasts for several years, it’s not uncommon for new trends to show up on a regular basis that can get people excited about their homes. This year, we’ve uncovered the hottest trends for 2018, surveying many of the industry’s leading influencers, and compiling the results. Using this data, it’s easy to see which home renovations are going to pay off the most for homeowners looking to sell this year.
While home buyers will be looking for a variety of things, including AI technologies and tiny houses, the following renovations are what will really help set your home apart from the rest:
Open Concept Floor Plan
Open floor plans are far and away and the most popular layout for single family homes right now, with more than 70% of those surveyed saying that this is what home buyers want to see. Open concept homes have a lot of advantages, including maximizing natural light and giving parents better line of sight of their children.
It’s also possible to create a more open floor plan in nearly any home. Just be sure to consult with an engineer or structural architect to ensure you aren’t removing load bearing walls first. While ROI is difficult to calculate, nearly all experts agree that this is a renovation worth making.
Green energy and sustainable design have been increasing in popularity each year. For 2018, more than 60% of those surveyed say that it’s solar energy that’s going to be the most popular addition to homes this year.
In addition, many influencers also agreed that what home buyers want to see is the design driving lower energy bills. When you consider the fact that solar panels will lower overall bills by 30% each year, most buyers will want to pay more for a home that has them installed.
If your property doesn’t currently have a lot of usable outdoor space, consider adding either a backyard or a porch this year. Both projects are considered to be popular additions for 2018, with porches having a whopping 75% ROI. Patios, gardens, and other outdoor areas also get good returns, so increasing the amount of usable outdoor space your property has can help it sell more quickly for more money as well.
Smart HVAC System
In addition to solar panels, another method of lowering energy bills and making a property more attractive to potential buyers is the addition of a smart HVAC system or smart thermostat.
Studies have shown that smart thermostats can make a significant difference to not only the comfort of a home, but its energy usage as well. This is due to the way that the system can learn your habits and make adjustments accordingly, so you never need to think about it, or spend your time reprogramming.
Paint the Exterior
Cool color palettes of blue, gray, black, and white are strikingly popular in 2018, with more than 55% of those surveyed responding that this is what home buyers most want to see. Since curb appeal accounts for a lot of a home’s value, updating the exterior to one of the newer, more popular shades could be enough to tip the balances toward a sale.
A fresh coat of paint on the exterior of a home is also likely to return an enormous 112% ROI, making this one of the best investments you can make in your home prior to sale.
Make Your Home Pay in 2018
While each renovation will have varying returns, these five investments are sure to get the attention of home buyers looking to invest this year. Each renovation will help increase your property’s value as well as its appeal, making it more likely to result in a quick sale and a quick pay back to your wallet. Make your home pay in 2018 by investing in these five renovations and start seeing quicker returns than you may have thought possible.