Home >> Daily Dose >> The Home Features That Bump Up Sales Prices
Print This Post Print This Post

The Home Features That Bump Up Sales Prices

Professional or “Chef-Inspired Kitchen Features” in a listing could add significant value to a home, according to a study from Zillow. The 2019 Home Features that Sell Analysis from Zillow stated that for-sale listings mentioning “steam oven” or “professional appliance” sold for up to 34 percent more than expected.

"Having a steam oven, a heated floor or other luxury features in the home is a signal that there are more than the home's basic features at play. These homes are special. They likely come with an elevated design sense and the extra touches valued by home shoppers who are willing to pay," says Skylar Olsen, Director of Economic Research at Zillow. "If you have these features, flaunt them."

Zillow examined 4.6 million home sales to determine which features and design styles led to higher sale prices or faster sales. Homes with steam ovens in particular fetch sale prices 34 percent higher than expected on average, however, Zillow notes that these homes stay on the markets for 22 days longer than other similar homes in the same metro and price tier.

Features associated with home-improvement TV shows such as “open shelving” sold 11 days faster than expected, alongside other “trendy” features such as subway tile, which sold 10 days faster on average.

First-time buyers looking for starter homes wiht luxury features looked at listings mentioning “free-standing tub,” “pizza oven” or “wine cellarm” and these listing sold for more than expected. According to Zillo, this could reflect the lifestyle millennial homeowners want to live and the needs of young families.

Other listed features included “shed/garage studio”, “exposed brick”, and “mid-century” design can improve prices by between 17 percent and 26 percent, and reduce days on the market by between eight and 11 days.

"While it's important to understand what's popular with buyers, ultimately your home is a reflection of your personal style and how you want to live," says Kerrie Kelly, Zillow Design Expert and Founder of Kerrie Kelly Design Lab. "You should design a home that makes you happy every day with features you love, knowing that future buyers may want to adapt it to create their own dream home."

About Author: Seth Welborn

Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for MReport. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer.
x

Check Also

Mortgage Risk

Home Equity Conversion Mortgages—On the Rise

A new report outlines April endorsements for home equity conversion mortgages. Click through to see how this sector is performing.

GET THE NEWS YOU NEED, WHEN YOU NEED IT.

With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.