The Outdoor Amenity That Brings The Sharpest Rise In A Home’s Sales Price
While a treehouse is still most commonly associated with kids’ games in the summer, it can make a home seem much more luxurious — and bump its sales price up by 2.2 percent.
While a treehouse is still most commonly associated with kids’ games in the summer, it can make a home seem much more luxurious — and bump its sales price.
According to the latest data released by Zillow on Thursday, a treehouse was the outdoor feature that brought with it the sharpest increase in sales price. Listings that mentioned it saw an average sales price increase of 2.2 percent, compared to 1.6 percent for a hot tub and 0.7 percent for a finished basement.
Naturally, treehouses in listings can show great diversity in terms of both size, level of comfort and how involved they are — some are small play structures that the families built themselves while others are full-on guesthouses with electricity, canopies and head-turning views.
“Buyers looking to snag a home near a park or with a treehouse better act fast,” Zillow economic data analyst Nicole Bachaud said in a statement. “In a hot housing market like the one we’ve seen this past year, highly desirable homes are flying off the market at break-neck speeds. Homes with these features are being snatched up even faster, showing the intense competition buyers looking for family friendly features are facing.”
Particularly after a year of heightened travel restrictions, homes with ample outdoor amenities seller faster and for more — a home mentioning a back yard sold 5.2 days faster than expected while those mentioning nearby parks or a playground sold 4.5 and 2.5 days faster, respectively. Other types of popular homes include “swing set” and “bonus space’; listings mentioning these home features sold for 0.8 and 0.7 percent percent more, respectively.
“And while this doesn’t mean sellers should add these features before they list or that these features alone will yield a high return on investment, they should definitely flaunt them if they have them,” Bachaud said.