8 Factors That Enhance A Home's Value

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Real Estate

Looking for the best return on investment on the home your 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 ear, 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 (4.95)

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. MODERN/CONTEMPORARY STYLE -  Newer trumps older in architectural style, with modern/contemporary rising in value by 7.7% per year, followed by bungalows (6.5%), traditional (5.6%), ranch (4.5%), Craftsman (3.7%) and Victorian (2.25).

6. 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%.

7. 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%)

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%.