“A man, who every morning gets five slaps in the face from his grumpy wife, one day gets smacked only twice. For him, it’s a relatively good day.” – my dad, explaining the word “relative” to us when we were kids.
I often get inquiries for brand-new modernist homes, with a budget of, say $300,000 to $550,000. Good time for a reality check.
First off, let’s agree that
new is relative and often means
newish – say 2007 and younger. It also hints upwards of
not-so-new: per square foot, 57% more than the median for all modern homes on the market. You may want to dig a bit deeper in the folds of your sofa if you look at median asking: $3.5m versus $1.3m; more stats below.
Aiming for a teeny tiny house
-lette won’t get your wallet off the hook, but you'll have lots of room to roam. New homes are spacious: 5,425 sf or 499 sqm under air (median size; too many outliers to use average. – For new modern townhomes, see this
previous post.)
Some of the new modern homes are simply spectacular – thank goodness, it’s all a matter of taste. If you are in the market for a newish modern home, here is a peek at what to expect.
At the upper end:
Miami Beach waterfront, with 10 bedrooms, 12 bathrooms, 20,000 sf (1,840 sqm), pool, 5-car garage, built in 2008. On 260' of water, two docks, lap pool and spa, elevated guest house/cabana, oversized rooftop terrace, double high-end kitchen appliances, staff house, generator. Asking $19,500,000 ($975/sf).
At the lower end:
Southwest Miami, 4/2 with 2,220 sf (204 sqm), built in 2008. New home on corner lot, by award-winning builder, never lived in. Features high ceilings, porcelain bathrooms, European cabinetry, alarm- and surround sound pre-wired, recessed lighting, stone counter tops, stainless steel appliances, washer & dryer, California closets, wood wall paneling, 8 ft. tall doors, well-ready, has natural gas. Asking $390,000 ($176/sf).
Typical median-priced:
Fort Lauderdale waterfront, 5/6, built in 2009. Located in a cul-de-sac on 206' of water, with top-of-the-line appliances, pool, hot pool, high ceilings, marble and wood floors, audio/visual wiring throughout. All window and doors are commercial grade with impact glass. Asking 3,750,000 ($571/sf).
Statistics: Modernist Single Family Homes ≤2007
Currently available: 41
Asking prices: $390,000 - $24,000,000, median $3,500,000
Asking per sf: $167 - $2,191, median $658
Size under air: 2,220 sf - 20,000 sf, median 5,425 sf
BR/BA: 3/2.5 - 10/12 with 3 guest bathrooms
Source: own data, compiled from SEF-MLS
____________________________
A quick reminder to all prospective buyers:
HOME BUYERS TAX BREAKS EXPIRE APRIL 30TH
$8,000 First Time Homebuyer Tax Credit, means if you did not own a home in the past three years. And up to $6,500 for existing homeowners looking to buy a different primary residence. Details are
here.
– Have a great Superbowl-weekend!
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