Rosalind Evans
In the ever-evolving real estate market, certain outdoor features are enhancing curb appeal and significantly increasing home sale prices. According to recent findings by Zillow, incorporating elements like outdoor TVs can potentially boost the sale price of a home by 3.1%, which translates to an impressive $10,749 increase based on the average home value. This surge in value is attributed to the demand for weatherproof entertainment options that withstand extreme temperatures and precipitation, albeit at a higher cost than their indoor counterparts.
Other outdoor enhancements contributing to elevated sale prices include outdoor showers, bluestone patios, “she sheds,” pizza ovens, and outdoor kitchens, promising increases from 1.7% to 2.6%. These findings are part of Zillow’s comprehensive analysis of sale premiums for 359 features across one million home sales in 2023, highlighting a growing trend toward backyard-centric living spaces.
Amanda Pendleton, a home trends expert at Zillow, emphasizes the shift in lifestyle preferences post-pandemic, stating, “This year was all about the backyard features. It embodies this new lifestyle people want post-pandemic, where their social life is centered around their home, specifically their yards.” The National Association of Home Builders (NAHB) echoes this sentiment, identifying outdoor features like patios and exterior lighting as top priorities for buyers alongside interior must-haves like separate laundry rooms and walk-in pantries.
While these outdoor features are enticing, Pendleton advises homeowners against installing them solely to fetch a higher sale price. The focus, she suggests, should be on leveraging existing features to enhance listing descriptions rather than expecting significant returns from new installations.
According to Rose Quint from the NAHB, the market is also witnessing a preference for smaller homes with personalized features. As the demand for new construction grows due to a shortage of existing homes, buyers are gravitating toward technology-oriented features for enhanced safety and energy efficiency.
Interestingly, Zillow’s research also illuminates features that can accelerate the sale process. Social media trends like rounded corners and plant ledges have been shown to reduce the time a home spends on the market, appealing particularly to younger, first-time buyers.
While the allure of trendy outdoor features can indeed command higher sale prices and attract more buyers, industry experts advise marketing these attributes effectively if they are already present. As the real estate landscape continues to evolve, understanding the preferences and motivations of today’s buyers remains key to unlocking a property’s true value.
