If the way to a man’s heart is through his stomach, then the way to a home buyer’s wallet may be through the kitchen.
A new report from real-estate firm Zillow ZG, -0.90% found that home listings touting premium kitchen features sold for 30% or more above the expected price. To complete the analysis, Zillow examined the listing descriptions for 4.6 million home sales across the country that were on the market in 2017 and 2018, identifying specific features that led to a higher sales price or faster sale.
The biggest money-making features were steam ovens, wall ovens that pump in steam to cook food in a healthier manner. These netted a 34% sales premium, higher than any other feature. Of the 10 home features that generated the biggest boost in the home’s sales price, six were kitchen-related. These amenities included professional-grade appliances (32% premium) and wine cellars (31%), and “pot fillers,” attachments that extend a faucet so it’s easier to put water into a big pot (28%).
‘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.’
— Skylar Olsen, director of economic research at Zillow
Money-making features that weren’t specific to food and drink included steam showers, a “garage studio” and heated floors.
Home feature Sales premium Steam oven 34% Professional appliance 32% Wine cellar 31% Steam shower 31% Pot filler faucet 28% Shed/Garage studio 27% Heated floor 26% Waterfall countertop 26% Outdoor kitchen 25% Prep sink 24.1%
Just because properties sold for more than expected doesn’t mean they sold faster. In fact, homes with steam ovens were the slowest to sell, taking 22 days longer than similar homes in the same market and price tier. This, Zillow