Thursday, February 3, 2022 / by Troy Schlicker
According to market projections, the inventory of homes for sale will increase from the historically low levels last year. The total number of sales is projected to increase as well, which implies that if you're planning to sell in the near future, now is the time to think about how you might stand out.
One approach to achieve this is to update your home's design. New security features or improving the exterior of your home can increase your property value and will be a highlight to buyers when you sell it later. Focus on these popular home design improvements that will impress buyers in 2022 to get the most out of your renovations.
Keep in mind that not all of these will fit in your home. If you're considering purchasing, selling, or remodeling a home, connecting with a trusted real estate advisor will help to assist you in maximizing the return on your investment and realizing your goals.
Environmentally Friendly Features
According to the National Association of Realtors, millennials make up the majority of current homebuyers and sustainable living is at the top of this generation's priority list. According to a recent Deloitte poll, nearly one-third of millennials strongly consider the environmentally impact of the companies, products and services they invest in. This also includes the homes they decide to live in.
Here are a few environmentally friendly design aspects that will appeal to millennial shoppers in 2022. As a seller, you'll reap the added benefit of netting a significant return on your investment (ROI).
- Energy-Efficient Windows: According to Energy.gov, heat gain or loss from low-performance windows accounts for 25–30% of household heating and cooling expenditures. As a result, energy-efficient windows will provide significant savings over the life of home ownership.
- Low-Flow Water Fixtures: The Environmental Protection Agency states that changing your shower head with one that is WaterSense branded can save four gallons of water every shower. The same thing may be done with your faucet to save 700 gallons each year. This saves money while also helping the environment.
- Native Landscaping: The American Society of Landscape Architects reports that 58 percent of members have seen an increase in customer demand for native trees and plants as a way to prevent biodiversity loss due to climate change. Placing native plants in the front yard will add to your home's eco-friendly appearance.
Mental health has been severely impacted by the pandemic. According to the Home Improvement Research Institute's (HIRI) 2021 Insights Summit, many individuals are shifting to calmer, more serene houses in an effort to emphasize mental health, with 22 percent of city inhabitants contemplating a relocation to less congested residential regions.
However, regardless of where you live, you may use this trend to entice home buyers. Wellness features in the house, which were formerly considered luxury, are now a must-have for many homeowners. According to HIRI, indoor areas that serve as a getaway for wellness and self-care have grown highly popular.
Reading nooks, spa-inspired bathrooms, and workout or meditation areas may all help you live a better life at home. Even if you don't have the space to dedicate a whole room to relaxation, modest changes to natural light, air purifiers, and indoor plants may help you feel better today while also allowing prospective buyers to see the potential when they make the home their own.
Soothing Paint Colors
In 2022, paint colors that create a soothing ambience will also be a major selling factor. Soft earth tones and natural colors, such as blue, green, brown, and beige, will be popular this year. According to new study, the best approach to convey the feel of nature indoors in a gentle and relaxing way is to avoid trending paint colors in favor of a more traditional palette.
Buyers have been willing to pay over $4000 more for a home with a light blue bathroom or almost $1500 extra for a house with a dark blue bedroom, according to the same study. BEHR's 2022 paint color of the year, Breezeway, is another crowd-pleasing hue to refresh the walls with.
This green with silver undertones was designed to look like sea glass. Breezeway "evokes feelings of coolness and peace, while representing a desire to move forward and discover newfound passions," according to the BEHR website.
Home Safety Features
More than ever, peace of mind is a top priority for buyers. Members of the American Institute of Architects, report an increase in the popularity of home safety features, according to a survey conducted in 2021. The most common:
- Home security equipment for 24/7 monitoring
- Generator for emergency power backup
- Multigenerational accommodations
- Interior ramps and in-home elevators
- Increased accessibility in hallways and doorways
Make sure to consult a trusted real estate advisor before investing in expensive upgrades and updates to ensure you receive the best ROI for your goals.
Designated Work Spaces
To no one’s surprise home office space has topped the list of features buyers are requiring when looking for a new home. According to the National Association of Home Builders 70% prefer an office that is at least 100 square feet (or a 10x10 room).
Anyone can use a bedroom as an office; however, a better solution is to turn a seldom used formal dining room into office space. Simply having the space may not be enough to captivate home buyers. Creating the space to be functional and aesthetically pleasing will highlight the possibilities as well as foster productivity when you work from home. Consider situating the workspace to take advantage of as much natural light as possible. Install bookshelves, a whiteboard and other items to increase productivity and organization.
When you are preparing to sell, highlighting the designated office space will help differentiate your home and attract more interest from buyers and generate higher offers, if marketed correctly, given the high demand for these designed features.
Luxury Kitchen Finishes
Interior design has always revolved around the kitchen and 2022 will be no exception. As the primary gathering place for many families the importance of the kitchen cannot be understated.
Buyers this year are looking for fresh updates and finishes, but this doesn’t mean you have to commit to and expensive and complete remodel to create an impression. Use these tips as a starting point to design a kitchen buyers will fall in love with without breaking your budget:
- Invest in new hardware. These accessory pieces add style and personality.
- Repaint. The simplest update for the rest of the house works just as well in the kitchen and can even be done to cabinets.
- Purchase new light fixtures that can not only update the look of your kitchen but also bring more light for cooking, cleaning and gathering.
Brian Santos, the director of education at Fresh Coat Painters, in a recent interview, explained that vibrant, distinctive accent walls are currently popular. An accent wall adds personality to a home while maintaining the design concepts of the rest of the room and home.
Consider using one of these bold options on your accent wall:
- Textured wallpaper
- Solid black
- Jewel or metallic tones
- Built-In shelves
- Painted ceiling
Updating the exterior façade can completely transform the look and feel of your home and depending on the options you choose can have one of the highest returns on your investment. Don’t jump in blindly though as replacing premium materials can cost almost $50 a square foot.
Giving your home this easy, affordable and stylish makeover can help rejuvenate its look before you put it on the market. If you don’t know where to begin your real estate advisor will have vetted, trusted connections to guide you through your available options.
Be On the Lookout for These Design Trends
These design elements can add style, function and personality to your home while also benefiting you if you plan to sell in 2022. Buyers today know what they want in a potential home and with a little effort and planning you can gain an edge on the other properties in the market while increasing your property value.