The Truth About Spanish-Style Homes
This year, the real estate world has quietly extolled the virtues of Spanish-style homes, sometimes known as Mediterranean homes. Commonly seen in areas of the United States with Spanish history such as California and Florida, they may be less well known to buyers, sellers, and investors in landlocked or northeastern states, but their appeal is usually obvious to any casual observer. They are, without a doubt, extraordinarily beautifully styled homes, lending venerable feel with a hint of Mediterranean leisure and Old World sophistication. Their design is an entirely unsubtle throwback to the stately, functional-yet-ornate manors of the gentry and merchant class of the Roman Empire, and is equal parts Spanish, Moorish, Grecian, and Sicilian. In other words, it’s not hard to walk into one of these homes and imagine a vineyard or olive plantation just outside the back door.
The distribution of Spanish homes is concentrated in warmer climates in the US (this will be important later). For all their aesthetic appeal, the design of the home itself is purely functional in that it’s expressly for the purpose of keeping cool. It’s a resoundingly pragmatic design that’s as practical as it is beautiful, and often displays distinguishing features such as clay roofs, arched doorways and windows, and balconies and courtyards to enjoy cool breezes in hot weather. Spanish style homes also tend to be asymmetrical, especially the clay gabled roofs in order to keep the house cool under intense sunshine. More angles, in other words, is less surface area for direct sunlight to hit at any given time during the day. Large patios, arcades (semi-outdoor areas with large arches supported by pillars), and breezeways aim to maximize any moving air to cool the house, and stucco walls which are almost always light in color further help insulate the house against heat.
Perhaps their most recognizable features are those characteristic white stucco walls and brick-red, clay terracotta roofs. What began as a practical concern is now a required aesthetic feature of Spanish homes, and this is what most people picture when asked to think of this particular style. Stucco is a hand-applied mix of cement, water, and sand or lime, resulting in an aged-looking Old World surface. It tends to look textured and rough once finished, and is often used for walls around courtyards and patios as well as the home itself. Terracotta roofs are distinct and instantly recognizable, comprised of many small clay tiles that are overlaid across one another like plate armor. Inside the home, the walls are plastered, while ornate tiles, wrought iron, and heavy woodwork add textural elements. Color schemes tend to be earthy and take especially well to wood accents, and painted or frescoed tiles are extremely common. Spanish homes seem to be well suited for entertaining, and thus may often feature open-air kitchens and balconies as well in addition to courtyards and arcades. Their popularity is understandable and well deserved.
So does this mean that, as an investor, you need to start looking high and low for any and all Spanish homes you can possibly acquire? Well, yes and no. Spanish homes are undeniably appealing and maintain their value very well, but these two things aren’t necessarily connected in the way you might expect. To understand how they fit within the context of market dynamics, you have to consider the location, as always. When realtors and investors claim that Spanish homes spend a little over half the time on the market before selling as other homes, they’re halfway right. It’s true that Spanish style homes have some of the shortest sale lifespans of any other design but remember, distribution of Spanish homes tends to be concentrated in coastal California, Florida, and to a lesser extent Texas and coastal cities on the Gulf, which tend to be real estate hotspots regardless of which style of home you may be selling. The fact that Spanish homes boast a strong appeal, especially among the residents of the area, and sell quickly in hot markets appears to be largely correlative rather than causal; indeed, their association with the area itself seems to be a large part of their appeal to begin with.
In other words, if you find yourself trying to sell a Spanish home located near Venice Beach in California, then you’re probably in great shape to move the property quickly. Less certain is how appealing the same style of home would be in, say, inland North Carolina or Ohio, and it’s reasonable to posit that the demand would be less fiery in those locations as opposed to Destin, FL. As we’ve said many times, it’s all about location. For more advice, information, listings and market trends, be sure to sign up for our Priority Access List for a first look at listings in your area, and don’t forget to follow us on Facebook and Twitter!
– Get It Right Solutions