It has been an uncertain year due to the coronavirus pandemic, and the real estate market is just one that has been greatly affected by it. Those looking to purchase property will know that it is a buyer’s market, hence if you’re looking to sell, it would be best to ensure that you are doing everything you can to increase the chances of your property being snapped up.
A new study by OJO Labs found that that 54% of would-be-buyers cite the inability to see homes in person as a reason for their hesitation to purchase a property. Despite this delay in their home-buying plans, some 30% of surveyed buyers reveal that they are looking at available listings more often than before their search was impacted by the pandemic.
There are also some popular design elements in homes that are less in demand with buyers so one should take note of this if you want to increase the chances of your property being sold. While home-owners are turning to Instagram to find trendy design features that could increase the value of their property in the market, some “on-trend” home improvements are more likely to put potential buyers off.
A recent study, conducted by Rated People with 1,038 UK homeowners, notes that prospective buyers are less likely to buy a property with rooms painted in dark blue (52%) and dark grey (49%).
Although in vogue on Instagram with more than 2,180 posts with the tag #bluekitchencabinets, dark blue kitchen cupboard doors are likely to discourage homeowners, with 41% of those surveyed indicating it could put them off.
Additional interior design trends that could affect the desirability of your property in the market, according to the homeowners queried, include a bathroom with only a shower (43%), black taps (35%), dark grey window frames (32%), as well as painted floors (35%). Perhaps with all the darkness and uncertainty surrounding our lives, home owners are looking to brighten up their potential living space and are choosing light and airy over doom and gloom.
While patterned floor tiles have experienced a boom in sales in recent years, 29% of surveyed homeowners are put off by this design, which the report points out is not too time consuming or labor intensive to tweak. We don’t know about you, but ripping out bathroom tiles seems like plenty of work. Subtle touches could work better next time around.
And indeed, whether they are putting their properties on the market or not, many homeowners across the world are seeing the coronavirus-imposed quarantine as an opportunity to go to their local home supply and hardware stores and launch a few DIY projects around their home. Keep your hands busy with woodwork and home projects rather than opening the refrigerator door 200 times a day, we say.
When it comes to deciding which home improvements to invest in, it is worth noting that functional additions like a downstairs toilet (58%), built-in storage (54%), a separate shower cubicle (52%) and a kitchen island (37%) are more likely to attract prospective buyers.
Source: AFP Relax News
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