KB Home (NYSE: KBH), one of the nation’s largest and most recognized homebuilders, has noted a significant increase in the average square footage of its new homes purchased in the Sacramento area over the past two years. Since 2010, KB homes sold in Sacramento have increased in size by 24%—from 1,696 square feet to 2,110, as of the second quarter of 2012. KB Home attributes the trend to consumers’ desire for more space, the nominal cost difference between its larger and smaller floor plans and the fall of mortgage interest rates to record low levels.
For instance, at KB Home’s Silverleaf at Twelve Bridges community in Lincoln, a three bedroom, two bath, 2,052 square foot house is priced at $319,500 with an estimated monthly mortgage payment of $2,068. A four bedroom, two bath, 2,372 square foot home is priced at $330,000 with an estimated monthly mortgage payment of $2,136. So, KB homebuyers could get an additional 320 square feet of living space with only a $68 increase in their estimated monthly mortgage payment.*
“Today’s homebuyers are shopping smarter, and they can see the value in adding more room given the current affordability,” said Chris Cady, president of KB Home’s Central California division. “Our buyers want more practical space, and with KB Home’s engineering and building practices, we can deliver our new homes that meet this growing demand at a marginal difference in cost.”
“And with our unique Built to Order™ approach, homebuyers can choose to use that additional square footage however they’d like—whether it’s an extra bedroom, a home office, or a larger living area—KB home designs can be adjusted to fit each person’s or family’s needs or tastes,” Cady continued.To learn more and view floor plans available at KB Home communities in the Sacramento area and throughout the Central California region, visit kbhome.com or call 888-KB-HOMES.