Tuesday
October 21, 2014

Owners of Larger Homes More Likely to Expand

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Owners of Larger Homes More Likely to Expand

The home owners most likely to expand their dwellings by a significant amount of square footage tend to already have a great deal of space, according to a survey conducted for Houzz, a remodeling website. 

"It's a combination of being able to afford it and wanting to add more luxury spaces, like a home gym or basketball court," says Liza Hausman, vice president of community for Houzz. 

The survey of nearly 10,000 registered Houzz users in the United States reveals that respondents who reported owning homes with more than 4,000 square feet were twice as likely to add 1,000 square feet or more of living space than those with houses smaller than that. And respondents with properties built 25 to 49 years ago were more likely to increase the size of their homes to accommodate modern living needs.

Cheryl Bosa, a salesperson with Coldwell Banker Residential Real Estate, says the addition of a 1,500-square-foot guest wing is a big selling point for a listing of a 6,500-square-foot house in the Rio Vista Isles in Fort Lauderdale, Fla. Built in the 1990s, the home is somewhat small for the area, she says.

Source: "Big Homes Get Bigger," Wall Street Journal (06/13/14)

© 2014 Information, Inc.

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