Asheville Real Estate Journal
Recently a number of Asheville REALTORS ® got together to talk about a wide range of subjects: Trends, client investment strategies, land, conservation and issues that come up during "deal evaluation". And we stirred up quite a conversation on the potential impact of (un)retiring “boomers” on the marketplace. Was this all part of the "use change" process? We could picture how this might look... .
Examples: A pocket neighborhood... or maybe small apartment building converted for Aging-in-Place – that Golden Girls concept. How about that?!! There might be some challenges, for sure- a single electric meter and A/C units shared by several apartments. But the purchase price would leave room for universal design improvements.
And, 1031 investors could be in it for a good number.
How about the notion of a single family house on a large lot zoned for multiple units. Good potential? We talked about the "value" of the "dirt." Even though the land could carry 10 units, the purchase price of $875,000.00 seemed too high. The average condo in that particular area sells for $275,000.00 to $300,000.00. It was determined that the cost of the dirt can't exceed 25% of the selling price of the finished product. Less would be better.
Finally, the idea of building a series of green accessory dwelling units in a neighborhood near UNC-Asheville sparked a lively discussion. You are always welcome to join the conversation. For more about creative retirement and/or your plans for aging-in a feathered nest...a self-guided learning tour can be your quick start to worthy plans (see below)...