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
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.
And an outdoor TV is a fairly economic addition to a home, according to Heather Mastrangeli, principal designer at Innovatus Design in Downers Grove, Illinois. “An outdoor television is a wonderful addition to an outdoor living space because it can help to bridge the gap between indoor and outdoor living,” she tells me. “Being able to kick back and take in the big game while enjoying the breeze outside is a luxurious experience.”
When she’s working on an outdoor living space with a TV, Mastrangeli says she always makes sure that the TV is outdoor rated, and is mounted under some type of cover to protect it. “I’m also mindful of how the glare from the sun and artificial lighting will impact visibility,” she explains.
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 finishes can fetch a 2.9% sales premium. Pendleton says buyers like modern features, which usually indicate that a home is new, or has been recently remodeled. Mastrangeli agrees. “Matte finishes, such as matte black, show relevancy and freshness in an interior,” she explains. “Matte finishes are hot right now and having them in your home is a clue that your home is regularly maintained.”
Outdoor Shower
Zillow projects that an outdoor shower can boost a home’s 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.”
When an outdoor shower is tucked off a primary suite in seclusion, Mastrangeli says it can evoke an exotic feeling of luxury, especially in warmer climates. “Natural stone, foliage, and wood can come together to create the ultimate outdoor showering escape,” she explains. Also, Mastrangeli notes that having an outdoor shower near a beach or pool, which provides a place to quickly rinse off, is a nice luxury for homeowners.
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.
Mastrangeli says she’s noticed more and more families adding beverage centers to their homes. “I’m seeing an increase in the need for beverage refrigerators that accommodate sodas, sports drinks, waters, and juices, in addition to alcoholic beverages.” She notes that they are often set away from the main refrigerator for family convenience.
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.
Mastrangeli believes that a she shed is a wonderful bonus space to have on a property. “Even though it may be called a ‘she shed,’ I’ve often seen these spaces be turned into family entertaining areas, play spaces for the kids, and home offices.”
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.
Mastrangeli believes that pizza ovens are an entertainer’s dream. “While specific, they create a narrative in a potential homebuyer’s mind where they can begin to picture themselves in the space,” she explains. “Outdoor pizza ovens can look a variety of ways, but the ones that will yield the greatest return on investment will be the brick variety that are built in.”
Quartz
According to Zillow, quartz can help a home sell for 1.7% more than expected. “Quartz countertops offer durability and are perceived as better than laminate or granite by many people because of its more recent popularity,” Mastrangeli says. “Quartz is available in various grade and quality levels, and higher-end quartz can be absolutely dreamy.”
However, Golden advises caution. “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,” he says. “Also, depending on the price point, many buyers are going to replace the current countertops with something of their own choosing anyway,” Golden notes.
Outdoor Kitchen
An outdoor kitchen can boost the home’s value by 1.7%. Mastrangeli tells me that she loves designing outdoor kitchens. “They can take many different forms, and I love the versatility they offer,” Mastrangeli says. “Outdoor kitchens can be small with a grill and landing space on each side, or full kitchens complete with appliances, and shelves.”
According to Ringelheim, it would definitely be attractive to people who love to entertain – especially if they host BBQ gatherings.
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.”
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 ten home features if they’ve got them.”
Source: www.forbes.com