What are home-buyers looking for? In Miami, buyers are looking for well-defined outdoor living areas, which serve as extensions to their interior living spaces. Home-buyers (who are ditching snow shovels for sun-screen and year-round outdoor living) not only expect outdoor living areas, but demand them. We are seeing more and more home-buyers looking to shelve previous notions that ‘more is better’. The trend now is toward smaller homes that require less maintenance.
Yes, buyers still want renovated/remodeled/updated kitchens and baths … That’s virtually a given in today’s real estate market. In Miami though, buyers are increasingly demanding utilizable, covered outdoor areas … where they can take advantage of 365 days of tropical weather. Covered patios and porches, terraces, and well-maintained lushly-landscaped backyards that allow buyers to envision themselves entertaining there … in a relaxed, comfortable , snazzy environment … can bring a seller a 100-200% return on investment in South Florida.
Exterior paint can typically bring from 90-100% return on investment in Miami. Unlike other parts of the country, landscaping and curb appeal can bring an equally high ROI in South Florida. Curb appeal is key to getting buyers inside. Outdoor spaces are key to SELLING THOSE BUYERS ON YOUR HOUSE.
Functionally-elegant outdoor living areas are very much expected in Miami in today’s real estate market. With the 100-200% return on investment that outdoor renovations can bring a seller in Miami – as compared to a kitchen or bath remodel (which will typically offer somewhere between 80-85% return on investment) – or a swimming pool addition (which will typically bring up to 40% ROI nationally) … homeowners in Miami are wisely looking at adding usable outdoor covered areas and spiffing up their outdoor spaces SO BUYERS WILL NOT ONLY REMEMBER THEIR HOUSE… BUT BUY!
Thank you for following our MiamiRealEstateBlog. Anytime you (or someone you know) are looking to buy or sell your next home in Miami, we look forward to helping you get the most bang for your buck. You can reach me, or a member of my team anytime at 305 793-1365 or 305 632-0164 …. You are welcome to send us a message here if you prefer.