The Market For 5 Bedroom Homes With 4 Bath Rooms
Currently, there are over 1,240 homes for sale in Tallahassee, and they are getting expensive. Here are some quick facts about the average of these homes:
- Average Price: $286K
- Average Value: $138 per square foot
- Average Size: 1,947 square feet of heated and cooled space
As I write this article, there are currently 40 homes for sale that have five bedrooms and four bathrooms. The average price of these forty homes is $985,835, while the median price (the one in the middle) is $752,000.
So for us to have found eight homes that meet the criteria stated above yet are all priced below $400,000, you can imagine that there is value to be found among them. Sure, some of them will be dated, or might not have an in-vogue floorplan, but the upside of buying a large home and then improving it can be substantial.
The long-term value of a home is “in the dirt.” The location, the lot, the land size, those are values that will prevail against all others over time. HGTV kitchens and bathrooms will not, as home-style trends are much like fashion trends (what’s cool today is not tomorrow).
When you are buying a large home on a budget, make sure the value is in the location and the land size. You can always change the interior.
Not all of the eight homes above will be in a location that best serves your needs, but one of them will be perfect for many people reading this article. It is located just north of Midtown in Waverly Hills.
This location is one of the most coveted locations from buyers in all price ranges, and it is hard to believe you can find a five-bedroom, four-bathroom home there that is larger than 3,000 square feet. When you rarely do find one like this, it has an enclosed garage that represents 1/6th of the space.
But take a close look at this home RIGHT HERE. It’s recently been reduced by $20K and is priced crazy low. Today, it’s the best buy available for this type of large home ($105 per square foot in Wavery!). If you don’t need the Midtown location and would like a 6BR home on acreage, then this home RIGHT HERE is an incredible value too.