What are the most popular new home floorplan features? - Part I

Written by Mark Mathis

One ofrepparttar most popular questions that people ask when searching for that “perfect” house plan is “What are (currently)repparttar 145189 most requested floorplan / home features that people are looking for”?

This particular question is one that is quite difficult to answer, in absolute terms, since each person/family can be in a completely different stage of life (senior vs. younger, families vs. individuals, etc), can have different livability needs, and can have incredibly diverse tastes in home style, building materials, etc.

As such, I’ll try to provide you with several general trends, as they are, for today’s current crop of stock house plan.

#1: Livability – The first key feature is that of Livability. Today’s home buyer/builder wants a homeplan that fitsrepparttar 145190 way that they conduct their daily lives. For many younger families, that can mean a re-purposing of a formal dining room into a children’s play area or much-needed home office.

Another livability enhancement might be that of incorporating an open floorplan layout that better facilitatesrepparttar 145191 interaction and close relative proximity ofrepparttar 145192 family unit. Large amounts of storage space and large walk-in closets are also a feature that most home buyers are looking for in their next house.

#2: Floorplan Flexibility – Many ofrepparttar 145193 more progressive stock plan design firms have realizedrepparttar 145194 inherent need of floor plan flexibility, and have met those needs by including a number of multi-use type spaces in their floorplans, including flex-spaces and bonus rooms.

Things To Consider Before Buying A Condo Hotel Or Resort Residence

Written by Leon Altman

Resort home ownership, such as condo hotels and fractional shares, is different from typical home ownership. So it is important to ask certain questions before signingrepparttar purchase agreement on a resort property. The following list of questions typically applies to most types of resort property ownership unless otherwise noted.

Pricing and Initial Purchase

-Isrepparttar 144623 price negotiable and do you need to purchase through a certain company or representative? Who gets a commission offrepparttar 144624 sale? Some properties have a small percentage of flexibility in price while others are basically set in stone. This will usually be determined by demand, as well as overall policy ofrepparttar 144625 developer or management company. Also, if you know who stands to profit fromrepparttar 144626 sale and how much, it could help you in your negotiations.

-Isrepparttar 144627 property already completed or is it in pre-construction?

This question is important becauserepparttar 144628 answer will likely affectrepparttar 144629 price ofrepparttar 144630 unit. Many properties inrepparttar 144631 beginning stages of development will be sold at a discount to attract buyers, but as it becomes a more certain investment or units increase in demand,repparttar 144632 price will go up.

-Ifrepparttar 144633 property is in pre-construction, when will it be completed and what willrepparttar 144634 overall property look like?

You may be anxious to get into your unit or have a certain occasion in mind. If completion is two years out, you may not want to wait. Also, a property inrepparttar 144635 early stages may look great to someone who wants a small facility with a low-key, less populated atmosphere. But there may be plans for hundreds or even thousands of additional units and large clubhouses, retail areas or other features that will draw many people. If you plan to keep your property for many years, you want to be sure it will fit your needs when it is finished.

-How many other owners are there?

This question is important for those considering purchases of fractionals. The price and amount of time available each year will depend onrepparttar 144636 number of other ownership opportunities offered inrepparttar 144637 particular unit. More than eight or ten other owners will make competition for primetime more difficult.

-What type of financing is available for this type of property in general and for this specific development?

Both condo hotels and fractionals are considered timeshare properties. Even if they are viewed as a second home,repparttar 144638 bank considers all three types of properties discussed here as a secondary obligation – one that is less important than your primary home mortgage. As a result, you may have to pay 10 or 20 % down andrepparttar 144639 rate may be higher than a traditional home loan.

Some developers offer financing, which can be helpful, but be sure you understandrepparttar 144640 details. Some may require a smaller amount down, but will ask for a large payment upon taking possession ofrepparttar 144641 unit. This arrangement may be fine with you, but you don’t want any surprises.

Another financing option is to take out a second mortgage onrepparttar 144642 equity in your existing home. If you choose this route, be surerepparttar 144643 interest rate does not make it much more expensive inrepparttar 144644 long run. Also, you need to be aware that if you use a home equity loan to finance your purchase, you have only 90 days to refinance to a regular mortgage.

Information Aboutrepparttar 144645 Management

-Who arerepparttar 144646 developers? Who will managerepparttar 144647 property?

The first question will be important in determiningrepparttar 144648 quality and reputation ofrepparttar 144649 property. The second question will help determine ifrepparttar 144650 management organization is well-known, professional, and likely to increase your rental income or resale value. These two questions are critical from an investment perspective.

Costs Associated With Ongoing Ownership

-What arerepparttar 144651 ongoing costs and who pays for them? Is there an annual membership fee?

There will typically be costs for insurance, real estate taxes, and improvement ofrepparttar 144652 facilities. Although owners generally pay for these items, especially in a condo hotel setting, it is still important to ask. Other expenses to verify include housekeeping, marketing, administrative and general maintenance ofrepparttar 144653 property. These are usually paid byrepparttar 144654 facility but one shouldn’t assume this isrepparttar 144655 case.

Rental Plan & Income Generated

-Is there a rental program and is it voluntary?

You will want to know if you can choose whether or not to participate in a rental program. This is true for all properties as some hotel residences and fractionals also offer this option as a means of generating income.

-How isrepparttar 144656 property marketed and does it have a history of success or features that will make it competitive inrepparttar 144657 vacation rental market? If you plan on receiving rental income from your property when you are not there, it is important to find out whatrepparttar 144658 management’s experience and approach is. Somebody like Hilton or Four Seasons has a reputation for luxury and good service and will likely attract more renters than an unknown management company. In addition, ifrepparttar 144659 property has a popular restaurant, is located near a convention center, shopping area or other facility that will draw people in, you are more likely to find interested renters on a regular basis.

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