Price Perfect Tool
Realtor.com announced a new feature called "Price Perfect" that that equips home sellers and home buyers alike. The tool is designed to give a deeper understanding of buying power, allowing the consumer to add or subtract the cost of specific home features like bedrooms, bathrooms, garages, distance, home type, square footage, lot size, and number of stories.
The example pictured here is for a 3 bedroom, 2 bathroom house in the 32312 zip code. As you can see, the median home price of the 40 homes available is $375,000. It would cost $59,900 to add a bedroom, $57,400 to add a bathroom, and $4,900 to add a garage. In addition, expanding the search 5 miles could save $97,100, or including townhouses and condominiums could save $15,100.
Once you have selected your "Must Haves" and "Ways to Save," the tool will break down your monthly payment by mortgage payment, property taxes, and home insurance.
The tool is being called "the first-of-its-kind in the digital real estate industry." It proves to be a great way to physically see the price of specific home features using an algorithm of home prices and characteristics of homes in a certain area.