8 Factors that Enhance Home Value

8 Factors that Enhance Home Value

Amanda Hicks
Posted by Amanda Hicks
Updated on
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Published in Market Updates

 

Searching for a new home to buy and/or sell this year? After analyzing millions of sales nationally, Realtor.com has come out with a list of features that'll get you the best return on investment on the home you're buying. Here are the factors you want to consider:

1. Smaller Size

Over the past 5 years, smaller-sized home sales have taken off as a favorite for retirees and first-time home buyers. Houses under 2,400 square feet appreciated an average of 7.5% per year while homes larger than 2,400 square feet have risen just 3.8% per year.

2. Open Floor Plan

An open floor pan has led to an average of 7.4% apprecition per year. An open floor plan makes a small space feel larger, entertainment is more social and convenient, and gives you nice open sight lines displaying the beauty of your whole home. 

3. Fewer Bedrooms

SInce 2012, the more bedrooms a home had, the less it appreciated. Homes with 1-3 bedrooms have the best resale potential since it appeals to the largest segment of the market; families with a couple of kids at home. Many people are also down sizing especially singles.

4. View

If your home is waterfront or park side, you're in luck. Homes with a pretty view have a high appreciation rate up to just around 8% annually. In our area most homes worthy of investing in come with a waterfront view, see here.

5. Modern/Contemporary Style

Newer architecture, style, and decor are always something that affects home value. Contemporary homes also appreciated around 8% annually. Keep your home updated with the latest trends

6. Two-Car Garages

Not too much, not too little. Homes sales with two-car garages had a higher appreciation than homes with one and three-car garages. 

7. Amenities

Focus on the features of the home that are unique. Nice patios, fireplaces, hardwood floors, etc. all increase home value.

8. Location

Great news especially for those searching in our area, homes in urban areas near mass transportation, like our tri-rail train, grew 8.5% in value per year. So did those near schools and shopping, which we also have lot's of. 

Consider this list when you are chosing a home to invest in! Search Waterfront Properties' listings here.

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The data relating to real estate for sale on this web site comes in part from a cooperative data exchange program of the Realtor® Association of Martin County, Inc. MLS. Real estate listings held by brokerage firms other than Waterfront Properties and Club Communities are marked with the IDX logo (Broker Reciprocity) or name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed.

IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Copyright 2024 Realtor® Association of Martin County, Inc. MLS. All rights reserved.

Listing information last updated on March 28th, 2024 at 5:37am EDT.

The data relating to real estate for sale on this web site comes in part from a cooperative data exchange program of Palm Beach Board of Realtors Multiple Listing Service. Real estate listings held by brokerage firms other than Waterfront Properties and Club Communities are marked with the listing broker's logo or name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed.

The broker providing this data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.

© 2024 Palm Beach Board of Realtors Multiple Listing Service. All Rights Reserved.

Listing information last updated on March 28th, 2024 at 5:37am EDT.

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®, and is updated as of March 28th, 2024 at 5:37am EDT (date/time).

All information is deemed reliable but not guaranteed by the MLS and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Waterfront Properties and Club Communities shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. © 2024 MLS of MAR.

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing

Beaches Multiple Listing Service LogoAll listings featuring the BMLS logo are provided by BeachesMLS, Inc.This information is not verified for authenticity or accuracy and is not guaranteed.Copyright © 2024 BeachesMLS, Inc.

Listing information last updated on March 28th, 2024 at 5:37am EDT.