Selling Your Home? Decoding The Buyer Checklist to Discover What Drives Multiple Offers

Buying a home is expensive. It's a financial investment as well as a place to call home. Many buyers are wary about "over paying" for the home, especially with the mortgage interest rates trending high. It's a big decision and they really want to get it "right" by making the right choice. Hence, the "checklist". It is a guide that helps buyers stay on track as to what's important to them during their home search.

For my home buyers here in Northern New Jersey, almost everyone has some form of "checklist". As a potential home seller, you may find it particularly useful to be aware of what's on your buyer's checklist. Here is the top ten list of the most common things buyers often say they are looking for when buying a home.

 

On the day set aside for touring homes for sale, the buyer's car ride to the showing appointment builds their excitement. Often they simply can't wait to see the house. And when they pull up to the curb and see the home for the first time, they are hopeful that the house looks as good, or even better, than the online photo. The home's exterior, including the maintenance, matters to buyers. Sometimes buyers won't even get out of the car if they are disappointed with the home's exterior.

Buyers frequently desire a home where the living spaces have an easy and comfortable room flow. For many buyers, a modern floor plan with a kitchen that opens to a spacious family room is important. And for some buyers, a design layout where the kitchen additionally opens to the dining room is ideal. Fewer walls often equates to bigger spaces for gathering and more human connection. As part of the home search process, many of my clients will ask for a copy of the floor plan to see not only the room dimensions, but to get a sense of the openness of the home's interior.

For most of my buyer clients, the kitchen is uber important. Many are "foodies" who love to cook, enjoy healthy eating, and often meal prep together. And a kitchen with a center island is a must-have, especially if it also doubles as a "breakfast bar" for sitting or a "grab bar" for entertaining.

If the online photos of the kitchen reveal stainless steel appliances, this is a signal to prospective home buyers that the kitchen is newer and has been updated. This often takes the "sting" out of possibly needing to renovate the kitchen if the appliances have already been replaced and are "gently used". Many of today's buyers want a home as close to "move-in ready" as possible.

Over the years, several room names have emerged that seem to have morphed out of the traditional "living room". Examples would be the Den, the Great Room, the Recreation Room, the Bar/Club Room, and the Family Room, just to name a few.

As a realtor, I frequently see room names used interchangeably, although each room has its own distinct functionality and characteristics. Therefore, it is not unusual for many of my buyer clients to ask me, "Why does the house have two 'living rooms', when all you really need is just one?" For these buyers, they don't see why you need to have both a living room and a Family Room when the living room could be used for something else, such as a home office. It is important to note that almost without exception, buyers who are house hunting today are looking for a home that has a Family Room. The buyer's expectation is that this room is located adjacent to the kitchen, preferably not separated by a wall.

For older homes, the Family Room is often an "Addition" that was added on to the original house. It is a room where both family and guests can gather in a relaxed setting. And since many buyers inevitably ask where can they put their "big screen TV", a home that has a spacious Family Room where the TV fits in like a glove will generate buyer interest.

Among those house hunting, it seems you can never have too many bathrooms! And one of the increasingly appealing home features is a bedroom with its own bathroom. This is something that is no longer reserved for just the "primary" bedroom. Whether you have overnight guests or other family members, an en-suite bedroom is a popular item on the buyer's checklist. Move over "Jack and Jill" bathrooms! It's all about the "en-suite!"

Most home buyers prefer that the bathrooms have been renovated to reflect current design trends. While some buyers might enjoy undertaking a bathroom makeover project, many simply do not have the time or energy to renovate a bathroom. When bathroom tile is removed, it is quite messy with a lot of dust and debris, not to mention the amount of hard work involved!

A quick glance at many of the home makeover shows on TV and you will readily observe that hardwood floors are trending. In a number of older homes, there is often hardwood flooring but it is covered up by wall-to-wall carpeting. With many potential buyers concerned about air quality in the home and family members with allergies, hardwood flooring throughout the home is highly sought after. And if there is a basement in the home, either tile or linear vinyl plank (LVP) flooring tends to be preferable to carpeting.

Another item on the buyer's checklist that is frequently mentioned is the windows. Buyers prefers large, often over-sized windows, and lots of them. An abundance of natural light not only showcases the beautiful features in the home, but also provides a bright and positive atmosphere. Let the sunshine in!

For those buyers who are often choosing home ownership over renting, the desire for outdoor space to call your own is very strong. Here in Northern New Jersey where many buyers are moving from the urban areas out to the suburbs, a backyard is typically on their checklist. Having a backyard oasis, no matter the size, is appealing. And a backyard that is fenced-in, is frequently a must-have, not only for easy entertaining, but for small children and pets to play!

 

 

 

 

When buyers tour homes in-person, they bring their checklist with them. They know it so well that they can just recall it in their mind. And unfortunately, that's where the disconnect comes in. Often the buyer checklist is far from the reality of what the home actually provides. As a home seller, you might be scratching your head about this. Let me explain with some examples of potential game-changers that buyers are perceiving.

 

1. Exterior has not been maintained.

A home that is not well-maintained on the outside is often an indication of what to expect on the inside of the home. Buyers, especially first-time home buyers, can get overwhelmed if they notice things on the exterior that are in disrepair, such as a roof, shutters, siding, fencing, etc. Take the time upfront to make minor repairs on the exterior.

2. Floor plan is dated and not intuitive.

If the layout of the home is quirky and hard to understand, it can be a turn-off for some home buyers. Many of today's buyers prefer an intuitive floor plan that is more modern so they can easily envision themselves living there. Consult with an architect to see if it is possible to remove a wall and open up the space, and if yes, you can share the design concept with potential buyers.

3. Kitchen doesn't work for 2 foodies.

A kitchen layout that is tight and boxy, with no room for a center island, may not appeal to buyers who are foodies and love to cook. Absent a kitchen renovation, the buyers might simply move on to the next home. Buyers like to know if a home has the potential to easily change the existing footprint. When working with my seller clients, I frequently consult with an architect to develop different layout scenarios, especially for trending kitchen design or what can be done with a small kitchen.

4. Kitchen cabinets/countertops are dated.

Buyers may feel the home requires too much work if they see the kitchen cabinets and countertops are dated, especially if the kitchen appliances have not been updated to stainless steel. Perhaps there are some smaller changes that can be done to enhance the kitchen's appeal, such as a fresh coat of paint on the cabinetry.

5. Family room is disconnected from the kitchen.

If the house doesn't have a Family Room off-the-kitchen, this might be a deal breaker for some buyers. Alternatively, the property lot size might be large enough to accommodate an Addition that could be used as a Family Room. As a seller, you or your strategic realtor may want to consult the expertise of an architect.

6. Primary bedroom has small closets.

A frequent concern I hear from buyers is that the primary bedroom has small closets and that it doesnt have an attached bathroom. Buyers will open doors and built-in cabinetry as they tour the home. Smaller closets will seem more spacious if they have been organized and emptied of some of its contents. An expert realtor can check with an architect to see if adding a bath and/or increasing the closet size are a viable option and if yes, communicate this with potential buyers.

7. Bathrooms need a makeover.

If buyers perceive that the bathrooms are dated and are in need of updating, they may be hesitant to make a top dollar offer. Buyers frequently "back out" or deduct the cost they estimate for the renovation needed. Having an estimate from a licensed professional to do the renovation work might give potential buyers a more accurate cost of the project. It might just be less than what the buyers think!

8. Carpet is everywhere.

As a seller, you can prepare your home for sale by removing some of the carpeting to showcase your hardwood floors (or existing flooring) and thus, widen the appeal of your home. The online photographs will look fresher and encourage buyers to see the house in person.

9. Windows are not new or over-sized.

If your home has older windows that are smaller and not energy efficient, obtain a cost estimate for replacement. Some buyers may be mentally taking this number off their offer price so it will be good to know what you can expect. You may also want to consult with a home stager to see what you can do to update the window treatments and/or blinds on a cost-efficient basis. Sometimes a simple swapping out of draperies can make a huge difference in enhancing buyer appeal.

10. The backyard is not pet-friendly.

If buyers are looking for a home with a fenced-in yard for their dog, you can get a cost estimate for a fence. You may also want to check with your landscaper to see if there is some landscaping that would enhance the appeal of the home for family gatherings and entertaining. While you can't change the topography of the backyard, you can take steps to be sure it looks inviting and user-friendly!

 

 

There is always a gap. Buyers have their "checklist" and then compare it to reality when they tour the home in-person. The house may have some things on their checklist, but not everything. So what do the buyers do? They shorten their "checklist"!!! And this is when the magic happens.

Now the buyers are well-positioned to find a home that "checks all of their boxes!" Instead of a lengthy checklist of 10 or more items, buyers often trim their checklist to just 3 or 5 "must-haves." And some buyers can get unwaveringly committed to their abbreviated checklist so that when the house comes onto the market which "checks all their boxes," they will be deeply motivated to move forward with their best offer.

Home sellers can learn from this insight of what buyers are looking for. What a buyer sees when they tour a home relative to their checklist, can be eye-opening for sellers. Narrowing the gap is key to achieving the highest sales price.

Homes that can closely match up to the buyer's ideal or "wish" checklist will be favored by buyers. And if priced right, the home will sell quickly and not linger on the market. It is up to the sellers and their "rockstar" realtor to recognize any possible shortfall in buyer expectations about their house. As noted above, there are steps that sellers can take to "narrow the gap". Savvy realtors and sellers will evaluate the average buyer's checklist items that can be easily improved upon, both in terms of timing constraints and cost-effectiveness. They also need to determine whether to invest the time and money and how.

Working with a top-notch agent, as I like to say, a "rockstar" realtor, is crucial for sellers. As an experienced realtor, I work closely with sellers to develop a list price strategy that maximizes their home's value in the eyes of the buyers. I help my clients understand and address buyer checklist items to give the sellers a competitive edge. By bridging the gap between buyer expectations and the property's features, sellers can make their home more appealing, "check all the boxes", and attract the best offers!