Which real estate is best sold

Buying real estate is most often not only a solution to the housing problem, but also the question of the effectiveness of investing money. In other words, we all want to buy real estate so that later we do not have problems with its implementation, and moreover, to sell our house as profitably as possible.

In this article, I wanted to analyze trends in the real estate market that indicate types of housing that in the very near future may turn out to be less liquid. The analysis below reflects only the facts, and my personal observations in working with real estate. According to this description, a certain part of the housing will not fall into the category of the most sold. If this type of real estate still suits you, or you have a different opinion about its prospects, you certainly have the right to ignore further information. The proposed point of view may also differ from the position of other real estate professionals.

The degree of ability of real estate to be implemented at any time quickly and profitably, in the professional language of realtors is called “resale ability”.

Having bought housing, in 99 cases out of 100, the consumer, sooner or later, is faced with the need to sell it. The reasons are usually the most mundane. This may be a change of work, an increase or decrease in the number of family members, a change of place of residence, and so on. In addition, there is a fairly large group of clients who, when choosing a property, initially warns the agent that the purchased property is temporary. They obviously know that the acquired property is not a dream home. There is still not enough money for the dream, and in order to stop the loss of money when renting, they have to start with the purchase of starting housing. The position, by the way, is completely understandable and in my opinion is absolutely correct.

Whatever it was, in all these situations it turns out to be more important to choose not so much what you like more, but rather a more realized product in the future.

So, today’s trends in the development of modern housing clearly indicate a number of areas.

What is offered on the real estate market

1. Construction of houses (detached) is increasingly developing in the direction of two-story buildings. If you visit the offices of construction companies and see what is offered for sale today, you will certainly see confirmation of these words. Real estate that has the concept of building a floor with a minimum number of floor level differences is popular and more in demand today. Obviously, this trend for medium-cost housing will continue for a long time and there is a rather simple explanation for this. In an architectural sense, the direct construction of a floor is the most economical type of floor planning. Older construction styles include houses built by type: “split level”, “2-3 level”, one and a half floor houses, and so on. The named multi-level houses due to a more non-standard cut, including the mentioned differences in the plane of the floor, often lose due to this part of the usable area. For example, in such houses you may find that part of the basement is partially, and sometimes even completely absent.

Very popular 20-30 years ago, and indeed, today bungalow, in architectural terms, was designed in a slightly different way. In view of the fact that there is no second floor of the building, such a property usually has a large area of ​​the main level, since all the premises of the house must fit in the plane of the ground and basement floors. This type of structure is as if spread over the territory of the land plot. This explains that bungalow houses traditionally have a larger plot of land. As a rule, the price level for such houses is quite high, since most of them are located in long-formed, very green and therefore not cheap areas.

Many of the buyers often ask: “Is it justified to buy a bungalow?” There is nothing wrong with such a purchase. It is worth considering that in a two-story house, taking into account the basement, three floors are formed in total, while in the “bungalow” there will be only two. Obviously, with the approximate equality of prices, the loss of the whole floor of the building in the case of the “bungalow” can have a significant impact on its implementation. Is such an assumption always true? Of course not. I have seen a bungalow worth more than three million dollars. Such structures are located in the most prestigious areas of Toronto, and the construction style is unlikely to affect their price in any way. In addition, the living area of ​​such houses as you probably guess, especially does not require a second floor.

There is another argument. For example, it is of great importance if the bungalow has a living, underground space, equipped with a separate exit, several bedrooms, a kitchen, and a bathroom. Such real estate is profitable, that is, “income property” and the demand for it is likely to remain stable. At least there will always be people who are ready to purchase such a house and, accordingly, facilitate their payments at the expense of the residents. Unfortunately, many construction companies are still focused on the construction of buildings without a separate entrance to the basement. This, in turn, encourages the buyer to purchase older housing in which such an option is present. More progressive construction companies, however, have already begun to respond to such consumer demands. It is reasonable to assume that trends in this direction will continue to develop actively.

Garage is good

The next, of course, an important factor affecting the sale of real estate is the presence of a garage, as well as the number of parking spaces in it. Unfortunately, in houses built 30-40 years ago, a garage was not always foreseen. Nevertheless, current market trends confidently indicate that real estate that does not have a garage space, today is becoming less and less liquid. Not too easy is the task of selling the house and the presence of a carport (carport). In this regard, there is no doubt that subsequent changes in real estate will clearly develop in the direction of increasing the area allocated for car parking. Already today, the sales dynamics are such that houses worth, for example, $ 800,000 and having a garage for only one car are in somewhat less demand. Such real estate is sold more sluggishly, and noticeably longer in time. Of course, the same trends apply to more expensive homes. Today’s consumer, interested in buying a house worth more than $ 1,000,000, increasingly wants to see a house with a garage for at least two, and if possible three cars. I think I will not be mistaken if I assume that new homes worth more than 1,000,000 – 2,000,000 dollars or more will be built in the coming years, taking into account parking at least three cars in the garage.

From the above, the following recommendation is pretty obvious. If you buy a home with the task of selling it in the next 3-5 years, then buying a property that does not have a garage space should be approached very, very carefully. At the same time, buying a detached house, try to purchase it, if possible, with a garage for two cars.

The same trends are indicated in the apartment sales market. Sometimes, the low cost of the apartment is quite simply explained by the lack of parking space. It is unlikely that one should rejoice at the cheapness of such a purchase. It is possible that in the future such an apartment will have to be sold just as cheaply. At the same time, newly built multi-apartment buildings increasingly provide for several parking spaces for each apartment, and not one as before.

There is a considerable category of buyers for whom the area of ​​the house is always and only in the first place. There are often situations when you can find real estate in one of the chic areas, and the budget does not allow such a purchase. The only way out is to sacrifice something as a home for the much-desired “location”. Refusal from the garage, in my opinion, should still be one of the last in the list of possible victims.

Let’s talk a little about the so-called amenities. Most of us in our former country were not spoiled by the many toilets and bathrooms. In this regard, for many, in the beginning, their quantity is not so important. “Two or three bathrooms, what’s the difference? It’s better than one anyway.” However, trends in consumer demand are not the same. People increasingly want to buy homes with great amenities. For example, it is clear that the presence of an additional bathroom is a serious plus for a family in which 4-5 or more people live. The problem with older houses is that they were built at the rate of one maximum of two bathrooms. Many of the owners of such real estate understand that this is a lack of a home, but there is often simply no technical ability to attach a second or even a third sanitary point. This, for the most part, affects almost all houses of much earlier construction. According to today’s consumer views on the acquired property, it is becoming increasingly apparent that a house with only one bathroom will be difficult to sell. You can see the consequence of the reaction to such a change in demand in the construction of a new generation. Urban-type houses (town houses), built even 5-8 years ago and costing only 580,000-990,000 dollars, were already built with two, three bathrooms. In more expensive homes, the number of bathrooms has long reached 4-5, or more. The same situation applies to apartments. The modern apartment is increasingly being built with two full bathrooms, rather than one as before.

A few words about the number of bedrooms. Sometimes, in search of cheaper housing, the buyer is ready to agree to a property in which the number of bedrooms is less than three. To a greater extent this applies to the “town house”, since detached and “detached” houses are rarely built on this principle. In my opinion, even in the case of a noticeable gain in price, such a choice is still hardly justified.

Today, the availability of three bedrooms is a strict standard for the construction of Canadian housing. Moreover, trends indicate that consumers are increasingly thinking about the possibility of having more rooms, including bedrooms. In this regard, the implementation of the above “town house” with only 2 rooms can be a noticeably bigger problem. Obviously, today to sell a detached house with a similar number of bedrooms will be even more difficult.

Basement at home

A few words about the basement of the building. Some people prefer to purchase housing in a relatively new area. For them, homes between the ages of 3-5 years are an ideal goal to buy. There is only one drawback of such housing. Most of these houses have unfinished, that is, an unfinished basement.

Indeed, many people, having bought a new or relatively new house, do not consider it necessary, or are not able to finance the first time to finish basement basement. However, today’s market shows that buyers are increasingly interested in buying real estate with an already completed underground space. Finding an explanation for this trend is not difficult. More and more people are using “basement” as a home office, as a source of additional income when renting it, or simply as additional housing space. It is also worth saying that buying a property with a finished entrance to the “basement” will be an even more profitable purchase and at the same time probably a lesser problem in its implementation.

Older houses were built 40-50 years ago according to principles that suggested the use of the underground floor for technical purposes only. Turning such a space into a living space is often almost impossible. In response to consumer demand, builders are building modern homes in such a way as to leave the owner the opportunity, if desired, to turn this area into a useful one. That is why the level of the ceiling height of the basement is becoming higher every year and in modern houses it already corresponds to the height of the first floor. Such changes make it possible to think that in the coming years a greater number of construction companies will build houses with an originally completed underground floor.

The age of the building. Of course, the factor of the age of real estate is important. If you plan to sell real estate profitably in a short time, try to purchase housing that was built not so long ago. The formula is pretty simple. If you buy a thirty-year-old house and live in it for 10 years, then you will have to sell a forty-year-old house accordingly. If you bought a house that is only 3 years old, then after living in it, for example, 5 years, you will only sell an eight-year-old house. Agree that the difference is quite significant. In addition, the increase in prices for a less old house is likely to be higher. The age of the building affects the buyer not only morally. It’s no secret that the older the building, the more often you will have to face repair problems. The age of the house is likely to affect even if the owners maintain it in excellent condition. I had to see thirty-year-old houses, the condition of which was almost perfect, that is, what we call the “move-in condition” in Canada. Nevertheless, the decoration style of such structures, the type of materials used, construction technologies, of course, significantly differ from analogues of modern construction.

I repeat this time that for each rule there are exceptions. I have worked with real estate built more than 40-50 years ago. Based on the place in which it is located, I am sure that it will be possible to realize it both profitably and quickly.

Speaking of the old style of decoration, I meant a clean, neat house, but not updated with modern materials from the outside and from the inside. Nevertheless, and you probably also met quite old houses, completely remodeled according to the latest achievements in construction and architectural design. Of course, the age of the house in this case loses its significance. Moreover, such a property is very, very expensive, as it forms the ideal combination for many – “a new house – in the old district”.

However, as always there is a flip side to the coin. Having bought a house and planning to sell it soon, be prudent in matters of investing money in its reconstruction. Quite often, money unreasonably invested in home improvement is returned at a selling price of only 60-65%.

Maintenance fee. An important factor when choosing a condo apartment, townhouse is the amount of payment for maintenance services by the building – maintenance monthly fee. According to statistics, the average monthly fee is increasing by about 5% per year. This is most often explained by the usual depreciation of the structure. Simply put, the older the building, the more money is required to maintain it.

A very typical, in my opinion, buyer’s mistake is that in the pursuit of cheap real estate, we often do not attach much importance to the sizes of the monthly fee. Suppose you managed to buy a condominium in which the monthly payment for the services of the corporation is $ 400.00 per month. According to a 5% annual increase in the cost of maintaining the building, it is very possible that after 5 years the “condo fee” will be already 500.00 dollars. It is not difficult to guess that at the time of sale, such a property may not be too attractive for a potential buyer. Now you understand why such condo housing is often sold inexpensively. The size of the “monthly fee” is not in the hands of the seller and all that remains for him to do is to regulate the price of the property itself. By the way, I met houses of a city type (condo townhouse), the price of which gradually decreases as the cost of the services of the service company increases. As you can see, the sale of the condo is somewhat different from other types of housing. It is necessary to have time to transfer the baton to another, or to say without embellishment during the time to get rid of such real estate.

The size of the land

I would like to criticize from the heart the current tendency to reduce the area of ​​land adjacent to the modern Canadian house. If 20-30 years ago the average land lot was approximately 50 x 120 feet – 6000 SF, in the next 10 years – approximately 40 x 110 feet – then nowadays it is increasingly common to see plots measuring only 30 x 90 feet. In my opinion, this trend is one of the most erroneous and thoughtless in the development of Canadian real estate. The fee for unreason, by the way, was not long in coming.

The backyard of a modern house can hardly be called a yard in the sense in which we imagine it. Rather, it more closely resembles a barbeque area surrounded by a wooden fence. If you look from above, the sight will be even more dull. A picture of a large number of blocked microcells will open to the eye. It looks pretty ugly, if not sad. At least, the soul of many of our compatriots categorically does not accept a similar trend in real estate. I join and believe that in Canada with such a large amount of undeveloped land to erect such structures should be a shame. In a desire to make real estate accessible to the average Canadian, builders are squeezing the size of the house and, accordingly, the land to the limit. Everything is clear with this. Nevertheless, as always perverted logic leads to more than dubious actions. Such tactics led to the results when the houses are located so far from each other that it seems that you need to go between them one at a time or, in extreme cases, together, but hugging tightly. Accordingly, a question arises. How much then is it justifiable to call such houses detached? As a small recommendation. When buying “detached” houses, try, whenever possible, to choose a property in which the land is at least 40 x 110 feet.

A few words about real estate with the so-called “premium lot”, that is, a more privileged plot. Of course, such a house will always be valued higher, especially if we talk about land plots that do not communicate with the neighbors (ravine lot). The only question is what the cost of buying such a site, and how much such expenses are justified.

Area of ​​the house

Even relatively expensive houses built 30-40 years ago, in the total mass had only an area of ​​1,700 – 2,500 square feet. At that time, such an area was perceived as quite large, and not many could afford real estate of a similar size. A modern home priced between $ 900,000 and $ 1,500,000 and an area of ​​between 2,500 and 3,500 square feet is no longer a rarity. Times are changing, and most people are striving for more spacious housing, which is understandable, because we all want to have more space.

Perhaps that is why the new small-sized construction is not very popular. In the struggle to reduce the cost of housing, many builders are building real estate with a living space of literally minimal size. You have probably met new town houses, sometimes even “detached” houses, where the area of ​​the smaller of the bedrooms makes it difficult to put a bed. The desire to use the land more rationally also led to the construction of three-story housing. Surely you met a “townhouse” and even individual houses narrowly elongated upwards. Given the basement in this housing 4 floors are formed. As a result, the real estate turns out to be almost a continuous staircase or a kind of family gym complex.

Due to the fact that the house is narrow, each floor has a rather small area. Accordingly, the basement area is such that, given the equipment housed in it for the maintenance of the house and laundry, there is no other free space left in it. It turns out that nominally “basement” exists, although in reality it actually is not. A few recommendations regarding the acquired property. Try to refrain from buying a home that is less than 2,000 square feet. Options for acquiring a one-bedroom apartment (1 bedroom apartment) are better to purchase at least 600 SF. If we talk about “Condo Townhouse”, it is advisable to choose such a property with an area of ​​at least 1,500 square feet. Twin houses (semidetached) should be purchased with a size starting from 1600 – 1700 square meters. ft. Finally, detached houses are justifiable to buy with an area starting at least 1900-2000 square feet. I understand that the choice of real estate always has to be linked to the budget. Nevertheless, buying a home with too little space, in my opinion, is one of those unfortunate compromises that sooner or later will have to be paid for.

By and large, what is real estate? Land + house. If we discard everything secondary, then what is our basic requirement for both? Most likely size, right?

About the height of the ceilings

You probably also noticed that the level of ceilings is becoming higher and higher in newly built houses. In the latest examples of modern real estate, the height of the main floor reaches, and often even exceeds the mark of 3.0 meters. I think it is safe to say that such a trend will certainly develop in the future and, probably, housing with low ceilings will be built less and less.

Here, by and large, and all about those characteristics that you should pay attention to when buying a property.

According to the above recommendations, it turns out that in order to avoid problems with the sale of real estate, you need to purchase relatively new housing, a considerable area, in a good area, and, therefore, is not cheap. See how simple it is!

And if without jokes, then we all certainly have to fit into our own budget. The consumer’s choice is only in how to manage this budget more carefully.

Accordingly, the buyer has to decide what to prefer. The choice is usually the following: not the best detached house, a good “detached” house, or an excellent town house. As you might imagine, many people still have the desire to purchase a “detached” house, however inferior it may turn out to be. “Even if it’s very small, but without neighbors behind the wall.” This position, of course, has a right to exist.

A question that is often asked by people buying property for a relatively short time. “After what minimum period of time we can realize the purchased property without losing it during its sale. It is possible to sell a house more securely and with a probable profit after 2-3 years, which is usually the minimum period of residence in it.

Many, while still at the stage of acquiring real estate, are too concerned about the issue of its further implementation.

The issue of buying a home has always been, is and will be a very emotional process, where the choice is often subjective, as it depends on the personal taste and personal goals of each individual person. If the house you bought doesn’t fall into the category of an ideal house, but you and your family like it, then take calmly all the recommendations.

In the end, probably, the main thing is that you love your house as it is.