The NAHB’s Eye on Housing says the value of a single-family home is shaped by many factors, but its physical features remain among one of the most influential. Recent data from the latest American Housing Survey show that the overall square footage of the home and the number of bathrooms stand out as especially strong value drivers, while other features such as the number of bedrooms and the presence of amenities also play a role.
Home size is one of the strongest value drivers in today’s housing market, as shown in Figure 1. Compared with smaller homes under 1,000 sq. ft., homes between 1,000 and 2,000 sq. ft. are valued about 17% higher. Moving up to homes between 2,000-3,000 sq. ft. increases value by around 30%, while homes with 3,000 sq. ft. or more adds 55% more to the market value.
Click here to read the full report at the Eye on Housing.
