The selling price of your home is based on a variety of
factors, including location and comparable homes in the area. While it’s
important to check your feelings at the door to avoid
making emotional decisions, like overpricing your house, there are certain
features that can make the home more desirable to buyers.
According to Amanda Pendleton, home trends expert at Zillow, there are ten home features that can help to sell your home for more than expected.
Many of the home features aren’t actually inside of the home – they’re in the backyard. I asked Pendleton why outdoor features command such high sale premiums.
She tells me that during the pandemic, outdoor spaces soared in popularity. “With nowhere to go, people turned to their backyards as a place to relax, recharge, and entertain.” And then, we started enjoying these casual entertainment spaces more than formal parties or dining out. “It’s one of the trends that has stuck around post-pandemic – and we’re now seeing this trend change home preferences,” Pendleton explains.
However, she cautions that this analysis did not identify the ROI a renovation project could have on a home. “If you have these features in your home already, you should flaunt them in your listing description, but you shouldn’t necessarily add them and expect these sale premiums,” Pendleton says. Instead, she recommends using these keywords as signals of perceived quality. “These are the things a buyer associates with a ‘nice house’ right now – and there are many other factors that also go into that perception.”
These are the top ten features that can help your home sell for more than expected.
Outdoor TV
An outdoor TV lets you commune with nature while watching your favorite games or movies.
According to Zillow, a home with an outdoor TV can sell for 3.1% more – which equates to an additional $10,749 for the average U.S. home. And this comes as no surprise to Brett Ringelheim, licensed real estate salesperson at Compass in New York. “Integrating an outdoor TV transforms your space into an additional cozy retreat, akin to a den,” he says.
Soapstone
A home with soapstone can sell for 3.0%. “While quartz used to be the most popular countertop material, soapstone has now overtaken it,” Pendleton explains. Soapstone is considered one of the best countertop materials since it is durable and heat resistant.
Matte Black
Matte black is sleek and stylish.
Matte black finishes can fetch a 2.9% sales premium. Pendleton says that buyers like modern features, which usually indicate that a home is new, or has been recently remodeled.
Outdoor Shower
An outdoor shower can create a Zen experience.
Zillow says an outdoor shower can boost the sales price by 2.6%. However, Ringelheim says this will depend on the setup. “Some outdoor showers offer only basic functionality, serving primarily as a place to rinse off,” he explains. “However, properties boasting well-designed outdoor showers with ample privacy can modestly contribute to the overall value.”
Beverage Center
A beverage center adds a 2.4% price premium. While a wine fridge boosts the selling price by 0.9%, Pendleton says a beverage center has a higher price premium because it could include appliances with dual temperature-controlled zones that can accommodate everything from soft drinks to wine to snacks. The beverage center may also include an ice maker and even an espresso maker.
Bluestone (Patio)
A bluestone patio can increase a home’s selling price by 2.3%. “Adding a patio where there was none, or where there was one in bad shape, would definitely add value,” explains Bill Golden, realtor-associate broker at Keller Williams Realty Intown Atlanta. However, he warns that upgrading from one type of patio to another is not necessarily a value-add – unless the existing patio was inconsistent with the quality and style of the rest of the house.
She Shed
Zillow states that a she shed can boost the sales price of a home by 2.0%. “A she shed could add interest from people looking for such, but I don't see this as adding any actual value unless, perhaps, it is a legal, habitable space,” Golden says.
Pizza Oven
A pizza oven in the backyard can help the home sell for 1.9% more. While it may be a desirable feature to some buyers, Golden says he doesn’t think it would add value. “A pizza oven is way too specific to have enough widespread appeal to alter the value equation of a home,” he says.
Quartz
According to Zillow, quartz can help a home sell for 1.7% more than expected. “Quartz countertops can add value if they are replacing something that's very dated or in poor shape, but an upgrade from other types of stone countertops is not in and of itself going to add value to a home,” Golden says. “Also, depending on the price point, many buyers are going to replace the current countertops with something of their own choosing anyway,” he notes.
Outdoor Kitchen
An outdoor kitchen can boost the home’s value by 1.7%. Golden believes that an outdoor kitchen may be expected in a high-end market. “However, in a price range/area where people wouldn't be expecting the home to have an outdoor kitchen, it may add interest for some buyers, but not value.”
According to Ringelheim, it would definitely be attractive to people who love to entertain – especially if they host BBQ gatherings.
Other Factors To Keep In Mind
Both Golden and Ringelheim advise homeowners to keep in mind that many home features are trendy now – which means they may not be trendy later. “Their impact on value should be viewed within a broader context and not overemphasized,” Ringelheim explains.
This doesn’t mean that they’re against updating your home; however, they warn against getting locked into specific features that may only appeal to a small percentage of potential buyers.
“Enhancing your property with a stunning outdoor lounge area is an excellent way to increase its value,” Ringelheim says. “This addition seamlessly extends your living space, creating a versatile environment for relaxation and entertainment.” And depending on your location and market trends, he believes that investing in an outdoor living space can significantly enhance your property’s appeal.
Pendleton agrees that geographical differences may determine the popularity of certain features. For example, she says a pool may be a must-have in Arizona, but could be considered a nuisance in Indiana. But Pendleton concludes, “Homeowners looking to sell for top dollar this spring will want to highlight these top ten home features if they’ve got them.”
Terri Williams, Forbes
