How to Determine the Value of a Single Family Home

High-end builders are often asked “Why can I get more square footage for less money from your competition?” But price per square foot does not determine value. In fact, it ignores every element of value except one. When you compare value from one single family home to the next, think of value as “best total package for the money,” or “best quality of life for the money.” Remember that value has a number of components to include the potential to retain value in the future. Below are additional considerations:

Location, Location, Location. The better the location, the higher the land value, and therefore the higher the cost.

Consider the value of the homesite within the location. The value of a homesite is determined by the lot size, what it backs up to, and any special characteristics of the site which distinguish it from other sites within the community.

Another element of value is the feeling of quality that the community conveys: aesthetic features, land planning details, and amenities within the community or those that are nearby. When a community is small, it rarely includes elaborate recreational amenities, because the cost per homeowner for upkeep is too high. Are the amenities that are crucial to your own quality of life easily accessible? The appearance of a neighborhood depends upon the exterior architecture of the individual homes, the architecture the community as a whole, including topography and landscaping.

The value of the individual home, exterior as well as the interior is determined by construction materials, floorplan, options, and interior architectural details.

High construction standards including specifications, materials, and craftsmanship also enhance a home’s value. Quality is a widely-used word in the industry; in fact, it has been used without discretion.

Square footage is another element of value. But gross square footage alone is not the answer. 1) Is the space usable? 2) Is the cost to maintain the space reasonable? 3) Does it enhance your's and your family's lifestyle? 4) Is the square footage appropriate with regards to future sale of your home - will others want this?

The standard features package included in the base price rounds out the total value package.

How can you determine who is offering the best value? Consider which home offers the best total quality of life for the money. For Courtland Homes, our commitment is to provide the best and most enduring value – the best combination of home, features, site, community, and location for the price in comparison to the rest of the market. Let us demonstrate for you our thorough perspective of value at Wedderburn Estates.