As you probably are with any financial investment, you should always be mindful of the value of your investment in property. Aside from knowing its fair market price, you should also be aware of market demographics and how they influence your home’s value.
Available statistics can help identify those demographics, their desirable home features, and current trends. Staying in touch with this information will help you understand how your home is valued and the types of projects worth potential investment.
For example, millennials are emerging as the largest demographic of buyers, and they often identify “smart technology”, such as newer security systems and smart appliances and fixtures, as important features. Eco-friendly and energy-saving features will also increase buyer interest in today’s market, especially as electric car chargers become more common, and as climate extremes increase demand for more efficient HVAC systems.
Of course, today’s buyers are still seeking long-time desirables such as upgraded kitchens and bathrooms.
So, whether you’re looking to attract a certain type of buyer, deciding whether to invest in a specific home improvement, or simply reviewing the value of your investments, let’s discuss today’s trends and how they might impact your home’s value.