The “in between” house?

Single family homes at the shore typically fit into one of three categories:

1) Tear down- based on the condition, age, or size. Of course we have all watched substantial homes being torn down to make way for new structures!

2) New (or newer)- recently completed; and depending on the quality of construction, custom homes less than 10 years old.

3) The in between home- the most challenging to sell as a summer/vacation home.

Even if the home has been well maintained (new roof or siding for example) the floor plan and amenities are important factors to interest a potential buyer.

Some issues such as ceiling height or an obsolete layout require more than just a cosmetic fix.  And managing a renovation project from a distance can be overwhelming.

The current low interest rates provide options for a buyer to justify a higher purchase price for a “new” home.

With an in between home, the land value is the base, and continues to appreciate.  So as a real estate agent, I try to answer two questions:  What is the value (to a buyer) of the structure?   And at what price point does to make more sense for a buyer to purchase a tear down (at land value) and build?

If the layout is functional, updates will help retain the value.  Our HGTV era buyers love new kitchens and baths, as well as uniform flooring such as wood or a high end laminate product.

It can be hard to look at your summer house objectively- especially if it suits your family just fine.  So, consider any upgrades a savvy business decision for your important investment!