News

Know about market updates

With bathrooms, a half can be as good as a whole

NEW YORK – Sept. 4, 2015 – Research indicates that an extra half-bathroom can increase a home’s value by almost as much, if not more, than an extra full bathroom.

A survey of listings on Realtor.com in late July finds that the median price for one-bathroom single-family homes was $85 per square foot, but that price jumped 15 percent to $107 per square foot with an extra full bathroom – or 10 percent, to $93 per square foot, with an extra half-bathroom.

However, the added value for half-baths was higher than that for full baths in properties with more than five bathrooms: The median list price for homes with 6.5 bathrooms exceeding that of homes with seven bathrooms by 10 percent.

“You get to the point of diminishing returns with the full bath,” says Stephen Melman, National Association of Home Builders director of economist services.

Experts say that extra half-baths in luxury dwellings tend to be attached to high-end features that boost prices, like home theaters and pool houses.

Source: Wall Street Journal (09/04/15) P. M10; Kamping-Carder, Leigh

© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688

 
Source: Florida Realtors Feed

Leave a Reply

Your email address will not be published. Required fields are marked *