Families are a large segment of the home-buying population. That’s why Zillow recently analyzed the hottest kid-friendly features that are attracting families currently shopping for a home.
According to Zillow, listings with a backyard sold 5.2 days faster than expected, while properties with a sandbox sold 4.5 days faster and those with a playground sold 2.5 days faster. Additionally, homes with a “treehouse” sell at a premium—for 2.2% more than expected.
“Buyers looking to snag a home near a park or with a treehouse better act fast. 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,” said Zillow economic data analyst Nicole Bachaud in the report. “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.”
Community amenities are also under consideration for these homebuyers, who are prioritizing keywords such as “nearby parks,” “cul de sac” and “community pools.” And homes that are in a “walkable” neighborhood are selling 3.9 days faster on average.
“Location is everything to our buyers with children. Homes within walking distance to recreation activities, such as parks and pools, are a high priority for home-shopping families. Cul-de-sacs and quiet streets are also in high demand for kids to have a safe place to play and make friends,” said George Laughton, founder of The Laughton Team in Phoenix, Arizona, in the report. “Like many in the market, parents are taking advantage of record-low mortgage rates to find the perfect home that their children will love and make long-lasting memories in.”
Other popular home features include finished basements or bonus spaces—these properties often sell for 0.7% more than expected.
