With floor plan changes, properties can be adapted to the needs of the real estate market. The requirements placed on a residential property differ depending on the size of the household. By adapting residential units, you can increase the value of your own property. This means that it can be rented or sold at higher prices. But when are floor plan changes worthwhile for owners?
Real estate prices have continued to rise in recent years. The demand for real estate, especially residential real estate, is far higher than the available supply. In addition, Germany's households have become smaller. Whereas there used to be more families with one or more children, the current trend is towards households with a maximum of two people.
Owners of apartment buildings and condominiums
In areas where there is an increase in smaller 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 out one- to three-room apartments are more likely to find a buyer or new tenant. Those who also take into account the current trend for spacious floor plans and open-plan living and kitchen areas can increase the value of the property.
Owners of residential properties with smaller rooms and narrow staircases should consult a real estate agent if they are considering changing the floor plan to see if it really pays off for them in the specific case. This is because floor plan changes are not always easy, mean additional costs and do not always run smoothly, especially in rental properties. There is therefore a lot to consider here. An expert such as a structural engineer is best placed to assess what is important. Owners can find suitable experts together with an estate agent.
Owners of single-family homes and semi-detached houses
With the current market developments, families in particular are at a disadvantage when looking for a house or apartment. Families who are dependent on a larger apartment are finding it hard to find housing that is affordable or large enough for them in popular metropolitan areas such as Berlin or Munich. As a result, an urban exodus has been observed more and more frequently in recent years. If there was no other option, families moved to the surrounding areas and rural regions.
Property owners who are ready to sell and adapt to the needs of families with one or more children will appeal to more prospective buyers if the property has more rooms and a more spacious layout. An open-plan living and kitchen area can also increase the value of the property. The addition of a conservatory or balcony can also increase the sales proceeds. However, before any extensive building work is carried out, an estate agent should be consulted and the experts consulted. After all, only the experts can accurately assess whether the conversion is worthwhile and what needs to be considered in each individual case.
Find out whether a conversion is worthwhile. Get in touch with us! We will be happy to advise you!
Further information can be found here:
10 ideas for creating additional living space (bauen-und-heimwerken.de)
Changing the floor plan: The house grows from the inside - bauen.de
Notes
For reasons of better readability, the generic masculine is used in this text. Female and other gender identities are explicitly included where this is necessary for the statement.
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 individual case.
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