Why buyers are looking for practical homes

Real Estate

Team MONEYME|15 June 2022| 2-minute read

Buyers decipher their interest in purchasing a property based on many different metrics.

Is the property big enough? Are there enough bedrooms, bathrooms, or living areas? 

Is the property renovated, aesthetically pleasing, or stylish?

And is the property practical? 

From the layout to storage facilities to versatile spaces, there are a number of components that help make a property more practical.

The value of versatile living

The rise of working from home has encouraged buyers to seek properties with versatile spaces.

McGrath real estate agent Melissa McCormack has seen the trend of flexible design surge in popularity in Sydney’s Double Bay region. 

A big drawcard is the ability to convert a section of a home into a work office.

“When I’m styling I’m going to get my stylist there doing one-on-one and I’m basically walking around the house, looking for a place where I could stick a desk,” she said. “It wouldn’t probably have been top of mind previously.” 

In November 2021 McCormack sold a five-bedroom property in South Coogee for $4,718,000.

“136 Moverly Road was a great house with many versatile spaces,” she said. “ It had a home office upstairs, and a separate bedroom and lounge on the lower level with a private entrance.”

Another flexible space that can attract buyers to a property is a garage.

“If you have a double garage, there is space for a car and space for a gym,” she said.

A versatile space is practical because it allows a spare bedroom to double as an office, a studio out the back to double as a teenage retreat, and an outdoor table becomes a second area for breakfast, lunch, or dinner.

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Practical property features

Beyond the layout, floorplan, and design of a property, there are practical features that can increase liveability in the eye of the buyer.

“Storage is a huge factor, cooling and heating is something most people want and trying to make the garden as low maintenance as possible,” said Ouwens Casserly real estate agent, Joanna Manolakos.

The rise of working from home has increased the desire for effective heating and cooling in a property. 

Manolakos said that ducted reverse cycle air condition was the most practical choice, with gas heating in the living area a second popular feature.

Buyers are also seeking heating and cooling infrastructure for the backyard. 

“Going into winter people are looking for things like a firepit and things like that,” said McCormack.

Manolakos recently sold two next-door properties in Allenby Gardens, a western suburb of Adelaide, where practicality, presentation, and presale prep made a difference to the sale price.

Within less than 4 McCole Circuit sold for $645,000 in December 2021, while 2 McCole Circuit sold for $810,000 in April 2022.

“The only difference was one had a double garage, was beautifully presented and the owners were really meticulous,” she said. “The outdoor areas were really superb.”

Learn how ListReady can help your clients improve their indoor and outdoor spaces ahead of sale.