Homeowners are spending more to spruce up their homes. They spent an average of $12,361 in discretionary funds on remodeling in 2017—the highest since 2006, according to the latest report by the Harvard University’s Joint Center for Housing Studies.
“Any time a buyer can walk into a house and see it already has the features they want, that’s a huge bonus for the seller,” Anna Maria Mannarino, who runs a design firm in Holmdel, N.J., told realtor.com®. “If buyers feel they need to add key features or designs, they’re going to calculate how much it will cost and then lower their bid.”
Realtor.com®’s research team pinpointed home features that can help sell a home in the fastest time for the best price. They analyzed more than 1 million single-family listings on realtor.com® in February and identified the home features found in homes most often with the highest list prices and that went under contract most quickly.