8 Factors That Enhance A Home's Value

Dated: September 10 2020

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Looking for the best return on investment on the home you're buying? Consider these factors:

1. Small Size

Over the last five years, homes under 1,200 sq. ft. —favorites of retiring boomers and first-time buyers —have appreciated by an average of 7.5% per year, while homes 2,400 sq. ft. or larger have risen just 3.8% per year.


2. Open Floor Plan

Having an open floor plan led to an average 7.4% appreciation per year. Less desirable? Granite countertops (2.5% annual appreciation) and stainless steel appliances (3% annual appreciation)


3. Fewer Bedrooms

The more bedrooms a home had, the less it appreciated since 2012. Homes with one bedroom increased by 7.2% per year; those with two bedrooms (6.6%); three (6.3%), and four bedrooms (4.9%)


4. Homes With a View

Homes overlooking a park increased 7.9% annually. Those with mountain views 5.1% and those with lake views 4.9%


5. Two-Car Garages

Homes with space for two cars appreciated by 6.4% annually, vs. those with one-car garages (6%) and those with three-car garages (just 3.8%)


6. Modern/Contemporary Style

Newer trumps older in architectural style, with modern/contemporary homes rising in value by 7.7% per year, followed by bungalows (6.5%), traditional (5.6%), ranch (4.5%), Craftsman (3.7%) and Victorian (2.2%)


7. The Right Amenities

Homes with patios increased in value by 6.8% annually, while those with hardwood floors grew 5.7% and those with fireplaces 5.3%


8. Location

Homes in urban areas near mass transportation grew 8.4% in value per year. Those near good schools increased by 7.2%, and those near shopping by 6.5%

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Janette Friend-Harrington

"Your Legacy Begins At Home" Janette and Doug and their Friend Team have more than a real estate practice; they have a mission called "Your Legacy Begins At Home". The mission combines years of real ....

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