These options will put you forward of the competitors on the subject of promoting a house

A prospective homebuyer is shown a house by a real estate agent in Coral Gables, Florida.

Joe Raedle | Getty Images

Today’s home sellers may be able to command higher prices due to recent price increases.

According to a new study by Zillow, certain luxury features can help sell your home for more money or faster than expected.

“If you already have these features in your home, be sure to flaunt them in your listing description,” said Amanda Pendleton, home trends expert at Zillow. “This sets you apart from the competition.”

The real estate website evaluated 271 design terms and features found in nearly 2 million home sales in 2022. The top-performing ones can add up to around $17,400 for a typical US home.

More from Personal Finance:
Don’t fall for these 9 common money myths
US passport delays last months and can get worse
How to work remotely indefinitely, according to a digital nomad

Two cook-friendly features topped the list of those that helped homes sell for more — steam ovens, which helped push prices up 5.3% over similar homes without them, and pizza ovens, which Prices increased by 3.7%.

Other features that rounded out the top 10 included professional home appliances at a 3.6% price premium; terrazzo, 2.6%; “she sheds” 2.5%; soapstone, 2.5%; quartz, 2.4%; a modern farmhouse, 2.4%; hurricane or storm shutters, 2.3%; and mid-century design, 2.3%,

Zillow also looked at which features helped homes sell faster than expected.

Doorbell cameras topped this list, helping to sell homes 5.1 days faster. Soapstein followed with a lead of 3.8 days; open shelves, 3.5; heat pumps, 3; fenced yards, 2.9; mid-century, 2.8; hardwood, 2.4; walkability 2.4; overlapping walls or cladding, 2.3; and gas ovens, 2.3.

Of course, homeowners shouldn’t necessarily add these features with the notion that they’ll see sales premiums, Pendleton said.

Additionally, some more unique features — such as She She Sheds, spaces specifically dedicated to female homeowners and their hobbies — may mean it takes a little longer to find a buyer who appreciates the amenities.

However, the features are indicative of the perceived quality that a buyer currently associates with a beautiful home.

“These personalized features add that wow factor to a home,” Pendleton said.

Emphasis on improvements that bring joy

The current housing market is “anything but traditional,” Pendleton notes.

There aren’t as many deals for buyers to choose from as homeowners are reluctant to give up their ultra-low interest rates, she noted.

“Homes that are cheap and well-marketed are going to find buyers very quickly today,” Pendleton said.

According to Jessica Lautz, deputy chief economist at the National Association of Realtors, existing homeowners are now more likely to think about different ways to redesign their spaces.

Personalized features add that wow factor to a home.

Amanda Pendleton

Home trends expert at Zillow

“There are a lot of people who want to remodel because they’re locked into low interest rates and have no intention of leaving their property,” Lautz said.

High on homeowners’ wish lists are ways to maximize the square footage of their home, Lautz said, such as: B. Basement conversions or attic or closet conversions. Adding home offices is also very popular as people continue to live hybrid lifestyles.

Some improvements also offer a return of 100% or more when a home is put on the market.

At the top of that list, according to Lautz, is refinishing hardwood floors, which not only makes a home look nicer, but also makes it more marketable.

“There’s a lot of joy and there’s a lot of money in selling your house,” Lautz said.

Installing new hardwood floors or upgrading the home’s insulation also produces returns of 100% or more, she said.

Zillow’s research found that certain features can actually affect a home’s resale value. This includes tile countertops or laminate flooring or countertops. Walk-in closets can also negatively impact a home’s value as buyers may prefer to use the space for other purposes.

Comments are closed.