When it comes to choosing a dream home, architectural styles play a crucial role in shaping the hearts and minds of homebuyers. These distinct styles each bring their charm to the neighborhood, but the question remains, which one truly shines brighter in the market? Let's unravel the answer as we explore their differences.
Architectural Style:
Bungalow:
A bungalow typically refers to a single-story or one-and-a-half-story house with a low-pitched roof and a spacious, open floor plan. Bungalows often have a front porch or veranda, and they are known for their simplicity and functionality.
Cottage:
A cottage, on the other hand, is typically associated with a cozy, quaint, and often picturesque design. Cottages can be one or two stories and may have features like steeply pitched roofs, gables, and decorative details.
Size and Layout:
Bungalow:
Bungalows are often larger and can provide more living space compared to cottages. There layouts tend to be more open connecting the kitchen, dining, and living spaces together.
Cottage:
Cottages tend to be smaller and cozier, emphasizing a more compact and intimate living environment. They can be one or two stories, offering flexibility in terms of layout and design.
Historical Significance:
Bungalow:
Bungalows became popular in the early 20th century in the United States and are associated with the Arts and Crafts movement. The Arts and Crafts movement emphasized craftsmanship, handcrafted materials, and a return to traditional, artisanal techniques.
Cottage:
Cottages have a long history and are often associated with rural or seaside living. They draw from traditional architectural styles. Cottages are frequently associated with idyllic settings such as the countryside, beach, or a forest, which adds to their quaint appeal.
Usage
Bungalow:
Bungalows are frequently used as primary residences and can accommodate larger families. They cater to a diverse range of homebuyers. Their captivating front porches and historical allure often fulfill the dream of rocking on a chair in true Plaza Midwood style.
Cottage:
Cottages are often used as a vacation home, or for people seeking a simpler, more rustic lifestyle. Cottages are often sought after by homebuyers aiming to downsize from spacious suburban family homes to charming abodes nearer the city, like this Airbnb in Historic Plaza Midwood.
So. which one claims the throne in this fiercely competitive real estate market? To find out, let's dive into the sales history of the past two years in Plaza Midwood.
Cottage:
Plaza Midwood's Quaint Cottages Command the Market! With an average price of $750k, these cozy homes are hot properties, typically under contract in just 5 days and selling for 1% above list price. Their compact size packs a punch, with a higher price per square foot at $442, surpassing the neighborhood's average of $407.
Bungalow:
While the word 'bungalow' is synonymous with iconic charm, these homes come with a surprising twist—they often command a lower sales price compared to cottages. The average price for a Plaza Midwood bungalow stands at $722k. They tend to find buyers in 6 days (just 1 day more than cottages) and, like their cottage counterparts, often fetch 1% over list price. Their larger size makes them an attractive option, with a lower price per square foot at $415.
And the Winner is... The Cottage!
Over the past two years, a spirited showdown unfolded, with 63 bungalows making their mark against a modest 37 cottages. The score? Cottages clinch the win! It's a battle of supply and demand—bungalows may be in abundance, but the allure of cottages drives up demand and prices. With their captivating charm that leaps from photos, these homes cater to an influx of homebuyers in search of an idyllic, uncomplicated lifestyle set in a premium location.
Seeking To Buy or Sell Your Dream Cottage or Bungalow?
At the Jeff King Team, our expertise lies in uniting our clients with the distinctive homes they're looking for, with a particular focus on historic treasures such as bungalows and cottages. If you're considering selling your idyllic bungalow, you need an agent with expertise in this unique style. Our bungalows sell for 8% more than the Plaza Midwood average, commanding an impressive $473 per square foot compared to the $415 average. Even in the competitive cottage market, our listings move faster, selling in just 3 days compared to the 5-day average.
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