Bigger Might Be Better

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

Monetize the Mansion

 

25 highfield

 

 A few real estate trends:

 

Bigger

Remember when they were building bigger, better houses just because they could. The desire was for square footage, more garages, more land, and more bathrooms. 

 

Smaller 

The trend went to saving resources, moving to the city, smaller places, giving up the car, walking to grocery, movie, and theatre. 

 

Open concept 

Thanks to reality TV, the open concept has been popular. Get rid of the walls. Make the house look open; all rooms lead together so you can really enjoy the space.

 

 

It's now the end of 2020

 

There is some different thinking in these challenging times.

The big homes are once again being sought.

 

Let's consider these spacious houses and who would be the buyers. 

Who is moving out of the city? 

Who is moving out of the condo?

Do you have boomerang kids?

Do you have children at home that need supervision?

Do you have the right space for classroom learning?

Do you have the right office space, private and quiet for virtual adaptation?

Are you traveling to see a loved one in a facility, but you are not allowed in?

Do you need child and grandchild care?

Ready to visit with family but may have to quarantine for 2 weeks?

Is there a separate and comfortable place to do this?

 

Owner's suite Margaret Rome 

 

How can these homes be repurposed?

 

Many families gather together several times a year. They used to vacation together; now they want to find a way to be together.

 

Thanksgiving week is the perfect time to think about this. Traveling to be with family takes on a different meaning this year.

 

Thanksgiving Margaret Rome

 

  They left two weeks ago, for those who planned, isolating themselves to stay safe and protect those in the home. Some have gone to hotels, some just separate in a lower level or bedroom with no physical contact.

This week they can mingle with the family.  So, what used to be a Thanksgiving weekend has turned into a Thanksgiving month.

 

We've always called this extra space in-law suites. They can be much more.

Look at how we can use this space now. 

Consider renting the extra bedroom and bath if you have extra space, especially if there is a separate entrance.

Consider sharing your home with family or close friends.

Have friends that you used to travel with, think about purchasing a home together. With two owners, you can afford more house, more luxury, and maybe save money.

Maybe you should think of a bigger better home!

 

 

I have a couple of houses that could be used this way.

To hear more about this kind of home.

Call Margaret Rome

 

Margaret Rome

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Rainmaker
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marti garaughty
garaughty.com - Montreal, QC
a highly caffeinated creative type...

 

 

Nov 23, 2020 06:21 AM #5
Rainmaker
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Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Happy Monday, Margaret.
With the cost of housing these days, we will no doubt find more shared housing options being pursued. 

Nov 23, 2020 07:51 AM #6
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I like that, Michael Jacobs. The business of possibilities.

Nov 23, 2020 09:18 AM #7
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Grant Schneider 

For some, this is the new trend. Always good to see you.

Nov 23, 2020 09:19 AM #8
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Wayne Martin So good to know when you are already in that right place!

Nov 23, 2020 09:20 AM #9
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Kat Palmiotti And even more reasons for all of us to be carefully listening to those wants and needs.

Nov 23, 2020 09:22 AM #10
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Carol Williams And it is up to us to suggest some of these new trends to the public.

Nov 23, 2020 09:23 AM #11
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Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Sage advice and observations Margaret Rome Baltimore 410-530-2400  some of the market pivots I never saw coming.

Nov 23, 2020 09:57 AM #12
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Anna Banana Kruchten CRS CRB, Phoenix Broker
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Possiblity Thinking to the max Margaret Rome Baltimore 410-530-2400 ! I love it!

Nov 23, 2020 04:09 PM #13
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

A lot of folks are re-evaluating their homes as they are spending more time in them.  And many families are choosing multi-generation living.  The COVID shut down of assisted living facilities was heartbreaking.

Nov 23, 2020 04:34 PM #14
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
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Margaret- when this whole thing started, I was so thankful that Larry and I weren't in our first 750 square foot apartment!!!!  We had a 6000 sq ft home that I loved when we were in Leesburg, VA- 5 br/4 1/2 baths on 3 levels but one glaring flaw...no full bath on the main level.  You have to find what works for you and I do thing many people are realizing that a little extra room is good. 

Nov 23, 2020 06:42 PM #15
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Rocky Dickerson It is not unusual to see the trends, pivoting when you are in a contract.

Nov 23, 2020 07:08 PM #16
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Anna Banana Kruchten CRS CRB, Phoenix Broker Yep, possibility thinking. Thanks for sharing your wisdom.

Nov 23, 2020 07:10 PM #17
Rainmaker
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Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I suspect the pandemic has brought a lot of families to the realization if they are going to be spending more time at home, more space is needed.  Personally, I am still fond of open floor plans, where space can be used in a more versatile way. 

Nov 23, 2020 07:53 PM #18
Rainmaker
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Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Club group!  

Nov 23, 2020 07:54 PM #19
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Cara Marcelle Mancuso
Long Realty - Dove Mountain, Marana AZ - Tucson, AZ
Call a Marana neighbor, I'm THERE! LONG REALTY

Terrific to point out the trends, and the different needs we go through as consumers.  Many of my buyers are looking for larger, more versatile back yards.  Before, in our heat, that wasn't so much a priority. Have a great Thanksgiving.

Nov 24, 2020 07:00 AM #20
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Chris Ann Cleland Many changes as we re-evaluate our homes.  Real estate is not going to be the same.

Nov 24, 2020 03:45 PM #21
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Kathy Streib So very true..."You have to find what works for you ......many people are realizing that a little extra room is good." 

Nov 24, 2020 03:47 PM #22
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Myrl Jeffcoat, Open floor plans work well for some.   Others will need to change their homes to accommodate working, schooling, and extended family.

Thanks for the feature in OFC!

Nov 24, 2020 03:52 PM #23
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Thanks, Cara Marcelle Mancuso It was good seeing you on the "green" zoom today!

Nov 24, 2020 03:53 PM #24
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