Home Styles and Their Appreciation
Homes in modern and contemporary styles are popular especially among young buyers. They are known for their simple, geometric shapes, large windows that fill the space with natural light, and a harmonious blend of interior design with the surrounding landscape. Plus, more recently constructed modern homes tend to be more energy efficient. They appreciate at about 7.7% annually.
“Traditional” generally refers to homes with classic designs like simple roof lines and symmetrical windows, along with a welcoming front porch, and often cozy fireplaces. Homes of this kind appreciate at 5.6% a year.
Niche traditional styles, like Craftsman bungalows and Victorians, may appeal to history buffs, but tend to leave regular buyers unimpressed. The responsibility of maintaining a vintage abode can be huge.
The Craftsman style is defined by its low-pitched, gabled roofs, exposed wooden structural elements, and most importantly, hand-crafted woodwork. A Craftsman home isn’t cheap to come by—and has not seen rapid growth recently, at only 3.7% a year. Victorian-style homes, famous for their elaborate decorative trim, came out last in annual appreciation rates, at 2.2%.