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Small Homes Can Offer Big Returns

Source: NerdWallet

 

When shopping for a new home, bigger is better, right? When it comes to roomier closets and more spacious kitchens, probably — but not so much when considering the return on your investment.

 

Smaller homes see prices rise faster: While individual market dynamics and trends vary, in 17 of the 20 metro areas analyzed, listing prices of the smallest 25 percent of homes grew fastest when calculated as a percentage. The median annual growth rate for the smallest quartile of homes was 8.9 percent from 2013 to 2016. The second-smallest group of homes had the second-fastest growth rate, with median annual growth of 7.4 percent.

 

These findings are not surprising, says Richard K. Green, a professor and chair of the Lusk Center for Real Estate at the University of Southern California. “We’ve had this now for about nine to 10 years, this return to center cities…” being more desirable than suburbs, Green said. And homes in the center of big cities tend to be smaller than those in suburbs, Green noted, regardless of whether they’re historic houses or new construction.

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About Community Real Estate

Community Real Estate is a Real Estate Brokerage committed to provide quality professional services. We are a full service company with in-house lending. We are Realtor®s and HUD approved selling agents. We are expert Short Sales, Listing Agents and Buyers’ Agents. We also specialize in First Time Buyers, Second Homes, Vacation Homes, Investment Homes, Leasing and Rentals, Relocations, Probate sales, Vacant Land sales, Manufacture Homes/Mobile Homes sales, Foreclosures, Distress Properties and REO listings and sales. We support our America’s Heroes. We look forward to meeting you and your needs!
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