Let’s Add a Bedroom…Our Kid Is Moving In !

Owners-Bigger is Better

My insight for the last year has been that the trend to multi-generational living is especially strong here in Palm Coast.  And it has manifested itself in the number of four bedroom houses

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From April 1, 2016 until today, May 5, 2016 119 four bedroom homes have either been sold or are pending.  (My MLS search included  homes between $100,000 and $300,000 in order to eliminate higher priced houses that are normally larger and likely to have more bedrooms.) In contrast, 291 three bedroom homes were sold or pending during that period. 

That translates: 41% of the houses sold in the last six weeks were four bedroom homes!

If you want to add value to your home, remodeling kitchens and baths are always a good idea. But give some thought to adding space. Add a bedroom over the garage or to the rear of your house. Better yet, a bedroom with a bath.  Use it for a home office, media room, exercise room, or guest room...but be sure to add a closet area so it qualifies as a bedroom.  According to Remodeling Magazine, nationally you can expect to recover 69.3% of your investment.  In Palm Coast it will probably be even more.  

New Construction

I staffed a model home during the recent parade of homes...buyers of new homes were looking for larger, four bedroom houses in the lower price and middle price ranges. Some were working couples looking for home office space and some were families with two or more children; but many were looking for multi-generational housing; meaning that either a parent was moving in with them or they were the parent, and (like me)  a child was returning home to live.  I suggest you give some thought to adding another room (with a closet) to your home.  

Buyers-Talk To Ted!

Each week the  Observer Tribune lists residential building permits issued to builders. Holiday Homes led this week’s  list with four, Adams Homes was second with two and Seagate, Everlast, New Coastal Homes, Maronda and Skyway each had one permit to start building a new home.  Many are being built on speculation as “Inventory Homes”.  

Compare and Choose.  Most folks moving to Florida and looking to buy a home would like to compare building a new dream home that is exactly what they want to purchasing a similar resale that is likely to be less expensive.  My background in new construction and knowledge of local builders allows me to provide them with a good comparison and help them decide.