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Resale Values differ by their Feature Type

By
Real Estate Agent with Keller Williams Realty 0575737

Many would be home sellers as well as prospective home buyers become junior appraisers at times and ask what an extra bedroom or that golf course lot really should add to the price of a home compared to a similar property down the street without one. The recent chart I found gives some clues:

What Home Features Contribute to the Selling Price

Feature

  

Value of Added Feature

 

 

 

Additional Full Bath

 

24%

Extra Half Bath

 

15%

Garage, Fireplace or Central Air

 

12%

Main Floor Laundry Room

 

15%

Basement Laundry Room

 

Negative

Raised or Vaulted Ceilings

 

6.2%

Extra Bedroom

 

4.1%

Family Room

 

7.3%

Dining Room

 

6.2%

View of the Water

 

7.8%

Golf Course View

 

8.1%

On Waterfront

 

18%

 

 

 

 

 

 

 

 

 

 

 

 

Source: National Center for Real Estate Research

 

While the chart primarily would be used in a comparables analysis it also would give some indication to those interested in recouping some of their investment in a home remodeling project as to what may be of greater value. While location is fixed and you can't add a waterfront behind your property perhaps adding an extra bath would be of some value to your overall price of your house. What I've found is houses with only one bath are typically viewed unfavorably in the market and a home needs to at least have 1 1/2 or 2 baths.

Every real estate market is different of course so consulting the local real estate professionals would give a more accurate picture of what the resale value of your home's special features really are worth.

 

Comments (1)

Kevin McGrath
Long & Foster Real Estate Companies- Fredericksburg/Spotsylvania - Fredericksburg, VA
Long & Foster Real Estate Companies
I printed this out - very interesting. I assume this is national; I wonder if it holds up regionally?
Jan 01, 2008 02:38 AM