Home Value Appreciation Elements
Realtor.com did some research, analyzed millions of listings over the past five years and here’s what they found:
Small homes are in high demand, especially by millennial first -time buyers. Homes smaller than 1200 square feet appreciated an average of 7.5% a year for the past five years. Larger homes (more than 2400 square feet) only rose by 3.8%.
Two bedrooms appreciate 6.6% while five bedrooms appreciate just 4.3%
Open Floor plans appreciate 7.4% a year – beating out other home features like:
Hardwood Floors 5.7%
Finished Basement: 4.6%
Modern and contemporary architectural styles appreciate 7.7% a year. Bungalows and traditional homes appreciate at 6.5% and 5.6%.