With the passing of Memorial Day, summer has finally reached the majority of the United States, and the warmer temperatures that come with it mean it is high time to get that outdoor living you have been waiting for all winter into full swing. The problem is, sitting in the grass in an empty backyard and staring at the fence, baking under the hot sun, isn’t exactly the type of outdoor living most families are seeking. People want putting greens, pools, treehouses, outdoor kitchens, and more. The problem is, these features don’t come cheap.
For some of the hottest outdoor features this summer, Realtor.com has calculated the premium a person can expect to pay for a home with a given outdoor feature compared to a home in the same zip code without that feature and also uncovered the markets where a specific feature is most likely to be found based on the percentage of homes that have the feature out of the 500 largest Core Based Statistical Areas.
Take the humble treehouse for instance, who didn’t want one as a kid (or an adult)? In Asheville, N.C., many adults are making their childhood dreams come true with treehouses that can range from a cost of $10,000 to $30,000 to build. Homes that already have treehouses in Asheville carry a premium of 5.2 percent compared to similar homes without a treehouse in the same zip code.
Putting greens, another sought after outdoor feature, are most commonly found in suburban Phoenix in the backyards of wealthy retirees. Due to the climate and drought-prone nature of the area, many are made of artificial turf, so they are always perfectly manicured and require no water. Homes with putting greens carry a premium of 11.4 percent.
Other hot outdoor features this summer are tiki bars, most commonly found in Key West, Fla. with a premium of 13.8 percent, fireplaces, most commonly found in Dallas, Texas with a premium of 21.5 percent, and infinity pools, which are most commonly found in Kahului, Hawaii and carry the largest premium of 56.0 percent. Even the most basic infinity pool with one ‘disappearing’ edge can still cost $70,000 to $80,000, which doesn’t include the cost of upkeep. Additionally, the median cost of a home with an infinity pool is $2 million.
To view realtor.com’s full list of outdoor features, where to find them, and their premiums, click the link below.