Location Location Location
Location, Location, Location!
The words are well used in the Real Estate community. What does location mean to in terms of dollars? A recent study found that a home close to a park sold for 7.9% higher, mountain views have a 5.1% greater value and lake views only 4.9% higher sold prices. Other things that influence included features, floor plans and square footage.
What are buyers looking for?
Open floor plans won out at 7.4% appreciation, beating out Patio (6.8%) Hardwood floors (5.7%) Fireplaces (5.3%) and finished basements (4.6%) Two bedroom homes actually appreciated at 6.6% while five bedroom homes appreciated at 4.3%. The millennial buyers are looking for smaller homes, 1200 SQ Feet is average and they are appreciating at 7.5% rather than larger homes, 2400 SQ Feet, only at 3.8%. The current average home size in the United States is around 2600 SQ Feet.
