Monetize the Mansion
A few real estate trends:
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.
The trend went to saving resources, moving to the city, smaller places, giving up the car, walking to grocery, movie, and theatre.
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?
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.
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