Whether you’re dreaming of a beachfront home, a drought-resistant garden, or even more space to spread out, here are five ideas to consider when it comes to bringing bigger in on the affordability scale. If you want more square footage, you might look at a loft apartment. The one drawback here is that a loft apartment will likely cost more than a single-family home, especially if it’s located in a more affordable metropolitan area.
On the other hand, a kitchen in a smaller space, such as the basement or garage, could be ideal for those looking to save some cash. From there, space to expand could be found as a get-out-of-jail-free card with adjacent living space or other amenities.
Or, you could look at a duplex.
There are a couple of methods property managers employ to mitigate many of these challenges: It is first imperative to complete due diligence in assessing the property for any issues during the initial asking price and during the actual selling process. This will help identify undervalued assets and wisely allocate funds to them.
By having a clear goal and a clear budgetary plan, property managers are in a better position to allow their management team to focus on directing their efforts.
Study the market: Find out where the property market is heading in terms of rent, market value, or both. Use this information to determine the feasibility of marketing the property you are looking to buy.
To sum it up, every property is unique, and it should be not only assessed on the basis of marketing efforts but also on the underlying value of the building. In other words, metrics like square footage, amenities and marketability play a major role in setting a price IRL.
Note also that for a mix of properties, a paid service could cover more than half the total cost of ownership.