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When considering
investment homes, it may be worth taking into account the features many
homebuyers are looking for in today’s new homes:
Room Flow: today’s buyers want a
home with rooms that open and flow into each other, without walls between
rooms, allowing the family to feel a sense of shared living space without
feeling separated. Investor tip: look for older properties that have many
smaller rooms with the potential of opening up the floor plan to create a
more appealing space. Consider the use of folding, sliding or French doors
to separate living areas, allowing rooms to be opened up or divided as
needed.
Hallways: New homes have few
hallways; older homes have dark hallways that separate rooms. Removing
these can quickly expand the living area and make a home more appealing.
Storage Space: New homes often
include abundant storage space in the form of walk-in closets, linen
closets, dressing rooms and second-floor laundry rooms. Older homes lack
this storage space so consider how old rooms may be converted into bonus
storage space to make an old home more appealing.
Master Bedrooms: In today’s new
homes, the master bedrooms occupy a significant proportion of the square
footage, providing for relaxation areas as well as sleeping areas. Large
en-suite bathrooms reflect a spacious feel. Increasingly, master bedrooms
are located on the first floor. In older homes, it may be possible to
convert some of the living space such as a formal dining room into a
master bedroom suite by simply adding a small bathroom addition to the
home to the side. Alternatively, combining two or three upstairs rooms
into a master suite can modernize and old home and make it more appealing
to “empty-nesters” (homeowners whose children have left home and who
now want more space for themselves). |