According to an online house price estimator and economic model just updated by the National Association of Home Builders (NAHB), a third full bathroom is the one feature that can have the greatest impact on the value of a standard new single-family detached house in a suburb, increasing the estimated price by about $43,000.
The estimator enables builders, developers, prospective home buyers and home owners to see the impact that various physical features might have on the price of a home.
"In an economic environment where consumers are particulary price-and-value-conscious, this is an important resource for assessing key features and charateristics that help determine housing prices," said NAHB Chairman Bob Nielsen, a home builder from Reno, NV.
"To get the most out of the estimator, those using it need to understand that the nation's housing marketplace is actually comprised of thousands of local markets and submarkets, with their own dynamics," he said.
The estimator "shows" what households are looking for in their homes and zeoes in on basic factors that enable Americans to shape and improve their lives through their individual housing choices," Nielsen said.
NAHB's Single-Family Detached House Price Estimator can be found on NAHB's website at: www.nahb.org/housepriceestimator.