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Floor plan changes in real estate – better chances of selling?

Floor plan changes can be used to adapt properties to the needs of the real estate market. The requirements for residential properties vary depending on the size of the household. Those who adapt residential units can increase the value of their property. This allows them to be rented or sold at higher prices. But when are which floor plan changes worthwhile for owners?

In recent years, real estate prices have continued to rise. The demand for real estate, especially residential real estate, far exceeds the available supply. In addition, German households have become smaller. Whereas in the past there were more families with one or more children, the current trend is toward households with a maximum of two people.

Owners of multi-family houses and condominiums

In areas where there are more small households, smaller residential units with one to three rooms are more in demand than four-room apartments. For landlords and owners of condominiums, this means that those who sell or rent one- to three-room apartments are more likely to find a buyer or new tenant. Those who also take into account the current trend toward spacious floor plans and open-plan living and kitchen areas can increase the value of their property.

Owners of residential properties with smaller rooms and narrow stairwells should consult a real estate agent to determine whether a floor plan change is really worthwhile in their specific case. This is because floor plan changes are not always easy, involve additional costs, and, especially in rental properties, do not always go smoothly. Therefore, there are a number of things to consider here. An expert such as a structural engineer is best placed to assess what is important. The right experts can be found by owners working together with a real estate agent.

Owners of single-family homes and semi-detached houses

Given current market developments, families are particularly disadvantaged when looking for houses and apartments. Families who need a larger home can hardly find any affordable or sufficiently large living space in popular cities such as Berlin or Munich. As a result, urban exodus has become increasingly common in recent years. Families have moved to the suburbs and rural areas when they have no other choice.

Property owners who are willing to sell and adapt to the needs of families with one or more children will attract more prospective buyers if the property has more rooms and a more generous floor plan. An open-plan living and kitchen area can also increase the value of the property. Adding a conservatory or balcony can also increase the sale price. However, before undertaking extensive construction work, you should consult a real estate agent and work with them to find the right experts. Only experts can accurately assess whether the renovation is worthwhile and what needs to be taken into account in each individual case.

Find out whether a conversion is worthwhile. Contact us! We will be happy to advise you!

Further information can be found here:

 

Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.

Photo: © VitalikRadko/Depositphotos.com

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