According to an analysis conducted by online real estate company Zillow, there are a number of kitchen design features that are motivating buyers to spend more and act quickly. We're not talking a slight impact either.
After studying 4.6 million listing descriptions from sales around the country, the report found that homes with steam ovens and professional-grade appliances were likely to go for up to 34 percent more. However, despite an obvious (read: insane) price increase for these amenities, they're also some of the slowest to sell. On average, they stay on the market 22 days longer. Though a high-end kitchen may entice fewer buyers, those who are interested are more willing to drop the big bucks for the space.
"Having a steam oven, a heated floor or other luxury features in the home is a signal that there is more than the home's basic features at play," director of economic research at Zillow, Skylar Olsen, said in a statement. "These homes are special. They likely come with an elevated design sense and the extra touches valued by home shoppers who can afford the best. If you have these features, flaunt them."
Meanwhile, millennials are focused on different—and in my humble opinion, better— luxuries. So, what are they looking for? Free-standing bath tubs, pizza ovens, and wine cellars. Told you, better.
Zillow found that the "trendy design features" like open shelving and subway tile could cause real estate to sell much more quickly—by as much as 10 or 11 days. Shed/garage studios, exposed brick, and 'mid-century' style were all included in the analysis.
While Zillow design expert Kerrie Kelly admits these are important factors when it comes to home sales, she emphasizes the importance in prioritizing your preferences. "It's important to understand what's popular with buyers, [but] ultimately your home is a reflection of your personal style and how you want to live," she said. "You should design a home that makes you happy every day with features you love, knowing that future buyers may want to adapt it to create their own dream home."
