Pricing Your Home- Single vs Two Stories
This article authored by: Catherine Hallberg
The other day I saw a question posted on a popular housing site as to why single story homes are more costly than two story homes of the same square footage. I was surprised at the range of answers offered by Real Estate Professsionals, many of them wrong.
Here’s the simple answer. When building a home, the two most costly elements are the foundation and the roof. A single story home of 2000sf will take up more space (building envelope) on the lot than a 2000sf, Two story home. Why? Most of the area of the one story is horizontal, calling for a larger roof and foundation, while the bulk of the square footage of a two story is vertical. It doesn’t have as big a foundation or roof. Thus the building cost is less.
Now this is not the only consideration when pricing a home. If the two story has a pool and a gorgeous view, it may well outpace the single story which backs up to a road.
Pricing a home in today’s marketplace is no easy task as many factors must be considered. That’s why hiring a Realtor you trust is a must if you want to price your home to sell.
Rob and Catherine Hallberg are Associate Brokers with Long Realty, a Berkshire-Hathaway Affiliate and Southern Arizona’s largest Brokerage. Send Rob and Catherine an email for a fast response to your questions; for an even faster response, Call (520) 407-8667.