Value. Value. Value. That is the number one driving focus of every successful fix and flip investor planning a new construction home. The question is, how can you be sure each design and construction decision will increase the ARV of the property?
While buyers' preferences may vary depending on where in the country you are investing, here are four home renovation trends that are high on the list of what 2020 home buyers want:
Home office
Social distancing restrictions related to the Covid-19 pandemic have resulted in more and more people working from home full time, and no longer will a desk in the corner of the kitchen or a laptop on the coffee table be an ideal work-from-home option.
If your construction budget allows, consider designating sufficient space in your floor plan for a dedicated home office, and stage the room with the work-from-home buyer in mind. You should also remember that your real estate agent may need to present the room to home buyers as an optional bedroom. So, be sure to include a closet, window and door, and you will be able to include the room as an additional bedroom in your listing.
Luxury bathroom
If you have to steal some square footage from the master bedroom or closet to provide home buyers with an awe-inspiring luxury bathroom, you should consider it. Covid-19 lifestyle changes have people spending most of their time at home, and one place they are escaping to for relaxation and peace of mind is the bath. Large bathrooms with freestanding soaking tubs and spa-like surroundings are an easy sell in these stressful times.
Gourmet kitchen
With restaurants shuttering their doors to diners, home cooking has made a huge resurgence nationwide. Free online cooking classes are all the rage, and families are spending much more time together in the kitchen preparing meals.
The kitchen floor plan in your new construction home should make as much room as possible for multiple family members to share the prep and cooking spaces. A large island and plenty of counter space are must haves.
Raised bed garden
The supply chain issues Americans experienced during the Covid-19 shut down sparked fears of possible food insecurity, prompting many people to take up home gardening. While this newfound interest in growing our own food might turn out to be short-lived, an inexpensive raised bed garden is an easy addition that will excite buyers who are eager to join the Covid-19 Victory Garden craze.
