Because of people. There are many numbers and statistics we use in this business to determine the value and marketability of a property. But the one thing that cannot be measured or qualified is the effect of personal emotions. It is not unusual for a buyer to pay over market value for a home if there is something about it they really want. It could be timing (they need a quick or delayed closing and the seller can accommodate), a location benefit (a view, a friend or relative lives nearby, proximity to a desired amenity), or maybe a unique desired feature (special room, studio, specific layout, exquisite garden). If it is something the buyer values and wants, they will pay for it.
On the flip side, a seller who is committed to moving and knows exactly where they want to go, will price, present and promote their home to achieve that goal by investing in staging and presentation, keeping the price competitive, making showings easy, and negotiating successfully. Sellers who are committed to a particular price or time frame, or who feel less certain about moving, will often find the process challenging. Their price and presentation will be less than optimal, negotiations will often fall apart – even if they connect to a good buyer, and professional recommendations will often be dismissed or ignored.
Buying or selling a home is a process. The more certain you are about what you want or where you are going, the better the process will feel and the happier you will be with the outcome. 🙂
Building permits are mainly about safety. They enforce construction standards.
The first reason to obtain a building permit is that it’s illegal not to. If you fail to get a permit for work that requires it, you can be fined or you may even be forced to remove a building or tear out completed work. Not only do they keep your contractor honest and your insurance updated, but they are necessary if you decide to sell your home. The permit process is a matter of public record. If you renovate or add to your home, the new information must match the town tax records. If you are planning a home improvement and not sure whether a permit is required, check with your local building officer.
Changes in both demographic as well as economic factors are fueling the need for multi-generational homes. The growing student loan debt is now making it financially more attractive for college graduates to return home rather than moving out on their own. Grandparents are living longer, and the cost of elderly care continues to rise. These and other factors make multi-generational homes very attractive to a growing number of buyers. But they are hard to find. One home in Westport beautifully designed to suit this need is 9 Country Road, offering multiple private suites, ample space and a superb location. Call for an appointment anytime, 203-246-9065.