If you’ve been in the housing industry for even a short while, you’ve probably heard of John Burns.
Luxury Homes With Fewer Bedrooms Sell At Higher Prices
Developers and builders are starting to emphasize living spaces above bedrooms in their priciest properties.
Realtor.com reports that luxury homes with large spreads and higher living-space-to-bedroom ratios sold for an average of $1.42 million in 2016, which is 31 percent higher than luxury homes (listings in the top 10 percent of the market) with the typical number of bedrooms, and 55 percent better than homes that had extra bedrooms.
Homes with only a bedroom or two appeal to a smaller subset of people. Realtor.com found a few childless couples in their 50s who bought these types of homes. For the most part, demand is higher for more bedrooms.
In 2016, 97% of all new homes for sale asking for $1 million or more had at least four bedrooms. ... In a survey of 4,300 people released in January, NAHB found that 51% of buyers between 35 to 44 years old wanted a home with four or more bedrooms. Three bedrooms was the most popular choice across other age groups.
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