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Kitchen Features Buyers Will Pay More For
DAILY REAL ESTATE NEWS | TUESDAY, NOVEMBER 29, 2016
A great kitchen can help you sell a home, and real estate professionals are making sure to spotlight it in their marketing.
Of all the homes listed for sale on realtor.com®, 69 percent of the listing descriptions highlight the kitchen as a selling point. Forty-nine percent mentioned the bedrooms and 35 percent highlighted the garage, the next two most popular.
Further, homes that tout a “killer kitchen” or “luxury kitchen” in their descriptions sell 8 percent faster than a similar-sized home in the same ZIP code, realtor.com®’s research finds.
So which kitchen features could possibly add the most value to a home? Realtor.com®’s research team pinpointed the following:
Custom cabinetry: 41% (the price premium: the difference between homes with the feature and homes without in the same ZIP code)
Kitchen island: 30%
Creative lighting: 21%
Granite counters: 18%
Large pantry: 14%
Stainless-steel appliances: 12%
Tile backsplash: 7%
Breakfast bar: 6%
What’s more, the research team found growing demand for the “chef’s kitchen.” About 4.7 percent of homes on the market describe the kitchen as a “chef’s kitchen” or “gourmet kitchen,” which is up from 3.3 percent three years ago. Homes with such labels boast a median list price of $589,900.
Some of the most common features associated with a chef’s kitchen: Oversized fridge; dual commercial-quality ovens; six-burner stovetop; and a butler’s pantry. Other popular features may include a wet bar and wine fridge too.
Source: “Secrets Inside the Pantry: How the Kitchen Became Real Estate’s Most Valuable Room,” realtor.com® (Nov. 21, 2016)
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