A new report from Zillow reveals a significant trend in the real estate market: homes featuring lifestyle-driven amenities and move-in ready finishes are commanding higher prices, selling for as much as 5.4% above expectations. This translates to an average of $19,500 more for typical homes, indicating a strong buyer preference for properties that offer an enhanced living experience and immediate comfort.
Key Takeaways
- Homes with desirable lifestyle amenities and move-in ready conditions are selling for a notable premium.
- Outdoor features, specific aesthetics, and high-quality finishes significantly impact sale prices.
- Buyers are increasingly prioritizing turnkey properties over fixer-uppers, especially in tighter affordability markets.
The Rise of Lifestyle-Driven Amenities
The report highlights specific outdoor features that are particularly attractive to buyers. Homes boasting a dock can achieve a 5.4% premium, while an outdoor kitchen adds 4.4% to the sale price. Other sought-after outdoor amenities include an outdoor shower, which can boost prices by 4.3%, and an outdoor fireplace, contributing an additional 2.8%.
The "modern coastal aesthetic" is also gaining traction. Furthermore, the term "cottage" used in listings is associated with a 3.2% sale premium. Amanda Pendleton, Zillow’s home trends expert, explains that "Cottagecore taps into a desire for homes that feel like an escape from everyday life." Buyers are willing to pay more for features that make their daily lives feel like a vacation, even if the property isn’t a traditional vacation home.
Desirable Finishes and Personalization
When it comes to interior finishes, quartzite countertops are preferred over quartz, soapstone, marble, or onyx, with listings mentioning quartzite selling for 5.3% more than expected. Personalized features are also becoming a key selling point. Listings that highlight custom features sell for 3.2% more than expected, a shift from previous trends.
Even highly personal features are gaining traction as buyers seek homes that reflect their hobbies and passions. A gourmet kitchen designed for avid cooks adds a 3% premium, and a golf simulator can provide a 2.7% boost to the sale price.
The Appeal of Turnkey Properties
Buyers are increasingly looking for homes that require minimal immediate work. Turnkey properties sell for 2.9% more than expected, and remodeled homes offer a 2.2% premium. In stark contrast, fixer-uppers sell for 14% less than expected.
"When affordability is tight, the last thing buyers want is another expensive project waiting for them," said Zillow Senior Economist Kara Ng. "Homes that are already updated and thoughtfully designed can command higher prices because buyers can roll those costs into their mortgage, rather than paying for expensive improvements after closing."