3 Reasons Your Smaller House Can Sell for More Than Ever Before
By Brooke Chaplan
It can seem like having a small home is a liability. After all, there's a certain feeling that homebuyers are always looking for something bigger and better. But that trends has shifted over the last few years. Smaller homes are beginning to sell faster than many of their larger competitors. Here are three reasons why.
Area Over Square Footage. Buyers have also become incredibly conscious about the areas in which they live. With some buyers now targeting hip new areas, they are willing to put aside some of their size concerns in order to get into the hottest neighborhoods. These trends are especially true among younger buyers who don't plan on having large families; they now know that they can get a good space near everything they loved without having to travel.
Bigger Means More Costs. Since the housing market crash in 2008, the way that people buy homes has changed and buyers are considering factors other than square footage in order to make a smart investment. Many buyers consider lower maintenance costs an important asset in a property. This, in turn, allows owners of smaller homes to be more competitive than their larger neighbors, especially when selling to investors.
Minimalism is In. Quite a bit of what's been discussed goes back to a single, overriding trend among younger buyers: minimalism. There are many who now see having a smaller, nicer home as a lifestyle statement. These are the same kinds of buyers who would have paid top dollar for a larger space years ago, but are now following current trends.
How to Make an Open Floor Plan Work for You
By Monica Thomas
Once a trend, open floor plans have become a staple of most modern homes. An open floor plan generally means the living room, kitchen, and dining room are combined into a large space or great room. Before taking a hammer to all interior walls, it's important to know the structure of your home, as well as the benefits and ways you can accomplish an open concept.
Benefits of an Open Floor Plan
Small, cluttered homes can be transformed into airy, more breathable spaces by knocking down a few dividing walls. A demolition project may seem daunting, but the average cost is just over $3,000. Just be sure to have a professional take a look before wielding a sledgehammer. Hiring a structural engineer will cost you about $500, but you'll save yourself the headache of rebuilds, fines, or structural problems.
Without walls blocking the windows, natural light is able to stream in your home, making the open space seem even larger and more airy. Along with knocking down walls, you can bring natural light into your home by connecting the outdoors to your home's interior with large patio doors. On average, you can install glass doors for about $1,600.
It's right there in the title: an open floor plan means more openness and inclusivity in your home. When you're preparing dinner in the kitchen, for example, you won't be closed off from the rest of the house. This is great for both entertaining and every day. When you're entertaining, you can still be a part of the party, even while preparing food and drinks. And as an everyday solution, you're able to keep an eye on children, pets, or—let's be honest—the TV, while still going about your daily tasks.
Coldwell Banker Residential Real Estate