If you are looking for a bargain on a home, beware of three keywords in home listings.
These renovation-related keywords are associated with a significantly higher listing price, according to an analysis of all single-family homes for sale on the Realtor.com website as of Aug. 30, 2024.
It’s important to note that these are “listing prices,” not sales prices. So, don’t let the presence of these keywords discourage you from trying to negotiate a better deal on a home you really like.
With that caveat in mind, here are the three upgrades, and related keywords, that are boosting list prices by $25,000 or more — followed by keywords that boost list prices to a lesser extent.
1. ‘New landscape’
How much this phrase boosts list prices by: 8.1% (which translates to $34,794 for the median-priced home)
Curb appeal — or lack thereof — is the first thing home shoppers encounter when they drive up to your home. What they see makes a big impact.
Charleston, South Carolina-based real estate expert Terry Haas tells Realtor.com:
“If the front of your home isn’t inviting, buyers may not even take the time to explore inside,” says Haas. “Curb appeal is everything, and a clean, well-kept exterior can be the deciding factor in whether a buyer even considers the rest of your home.”
2. ‘Renovated kitchen’
How much this phrase boosts list prices by: 7% (which translates to $29,891 for the median-priced home)
Interestingly, Realtor.com found that a similar term — “remodeled kitchen” — boosted the listing price by just 4%. That is a little puzzling since “remodeling” usually indicates bigger and more important changes, according to Realtor.com.
The website speculates that the listing price discrepancy between the two terms might come down to how real estate agents use the terms when writing the listings.
3. ‘New driveway’
How much this phrase boosts list prices by: 5.9% (which translates to $25,366 for the median-priced home)
A new driveway hardly seems like the type of feature to drive interest in a property.
However, the higher prices associated with this keyword follows a theme Realtor.com discovered in its analysis:
“In general, the Realtor.com analysis found that the most visible updates — exterior improvements and updates to kitchens and bathrooms — provided bigger boosts than renovations that were more functional in nature.”
Other keywords that boost list prices
Here are some other keywords that boost listing prices:
- Remodeled kitchen: $18,244 (4.2%)
- New appliances: $15,551 (3.6%)
- New deck: $15,358 (3.6%)
- Remodeled bathroom: $12,891 (3%)
- New bath: $12,836 (3%)
- New HVAC: $9,897 (2.3%)
- Updated lighting: $9,589 (2.2%)
- New roof: $4,585 (1.1%)
- New floors: $2,749 (0.6%)
- New windows: $2,439 (0.6%)
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