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Showing posts from August 13, 2006

Interesting Stats for Home Amenities

As reported by the National Center for Real Estate Research, here are a few examples of how certain amenities can add value to a home' s price in the market place. This data was gathered in the Philadelphia metro area from 1996 - 2003. *Each additional 1,000 square feet of living space increases the selling price by 3.3%. *Each additional bedroom adds 4%. *Each full bathroom adds about 24%, each half bathroom adds 15%. *Nine-foot ceilings add 6%. *A basement adds 9%. *Laundry in the basement decreases value by 2%; laundry located on the first or second floor raises market value by 15%. *A golf course view adds 8.1%, and a water view adds 7.8%. *A sitting area in the master bedroom increases the selling price by 8%. *An island in the kitchen adds 5.3%, and a double oven increases value by 8.8%. *There are no significant price differences for houses that are on flat lots versus sloping lots. (Diane's comment--most of my buyers want to avoid steep driveways--they are not c