FORT LAUDERDALE, Fla. – With spring-buying season in full swing, home sellers eager to see their properties sold quickly could benefit from having certain features in their house, a new analysis shows.
Homes that have attributes such as a steam oven, quartz finishes or even hurricane shutters/windows, typically sell for a higher price than the average home, according to data from Zillow. And homes that have a characteristics such as a doorbell camera or even a fenced-in backyard typically sold between three to five days faster than a home without those added items.
“Multifunctional homes that offer retreat spaces and features for outdoor entertaining are particularly appealing to post-pandemic buyers, who expect their homes to be a place where they can work and play,” the report from Zillow noted.
And as the spring-buying season takes off, sellers should use every opportunity they have to get their home sold quickly as there is still buyer demand for homes in South Florida, said Alex Platt, with the Platt Group at Compass in Boca Raton. “Although homes are sitting on the market slightly longer than they have been in the past, the updated homes that are priced right are selling quickly,” Platt said.
Here are the features that help a home sell faster, according to Zillow.
- Doorbell camera: 5.1 days faster
- Open shelving: 3.5 days faster
- Heat pump: 3 days faster
- Fenced backyard: 2.9 days faster
- Mid-century design: 2.8 days faster
- Hardwood floors: 2.4 days faster
- Walkability to nearby areas: 2.4 days faster
- Shiplap: 2.3 days faster
- Gas furnace: 2.3 days faster
“Buyers are also looking for homes with newer roofs and full storm protection (hurricane windows or storm shutters). Storm protection has become more important than it was in the past, as insurance prices change depending on the level of storm protection the home has,” Platt added.
Homes that had features like a steam oven got a 5.3% premium more than a house that didn’t have it, while professional appliances had a 3.6% price premium, and hurricane shutters had a 2.3% price premium.
“When showing homes, we find that buyers always make a comment when a home has additional security features like cameras and ask if they come with the home. Another feature is outdoor living space, such as a covered patio or outdoor kitchen/built-in BBQ,” Platt said. “Buyers like envisioning how they can live in the home, and in Florida, comfortable outdoor space is important.”
And particular to South Florida, having a pool in a home also gives a seller an advantage, according to Platt. About 60% of homes that sold in Palm Beach County in the past 90 days had a pool.
To calculate what features of a home will help it sell for more or faster, Zillow compared the final sales prices of homes listed and the time they spent on the market, as well as whether they had certain features listed in the home description.
There are some caveats as experts warn that adding these features may not offer the return on investment that potential home sellers might expect, but for sellers who already have these features in the home, highlighting them could get them more money or a faster sale.
Source: South Florida Sun Sentinel.