Builders Forum gives Chicago area residential developers achance to share thoughts on issues affecting home buyers. RichardVan Schaardenburg, is president of Clarendon Hills-based Town &Country Homes.
In the past, multifamily homes were simply a resting place forhome buyers until they built up their savings to a point where theycould afford a "real" home.
Today, multifamily housing has become a popular permanent homefor affluent singles, dual income couples, and empty nesters. Itprovides maintenance-free lifestyle, innovative interiors, in-homeconveniences and expanded square footage.
Although multifamily living does promote a worry-freelifestyle, the variety of styles available require majorconsiderations be evaluated before making a purchase.
As an experienced builder, we spend thousands of dollars inresearch and ask hundreds of questions of buyers before we create anew community.
Based on the information we've received, there are three mainfactors that play a major role in pre-purchase considerations: Lifestyle. A home makes a statement about the way you live. Itreveals the tastes, priorities and interests of its buyer, which iswhy buyers need to make a serious evaluation of how they live in ahome and what they expect from it.
A buyer should evaluate what types of homestyles or communityamenities, or both, are important. An empty nester couple may prefera town house on a golf course while a single woman may choose asecond-floor carriage home for a feeling of enhanced privacy.
The dual career couple may select a community with contemporarydesigns and recreational amenities to suit their active lifestyle. Product. Builders spend a lot of time and money designing a homethat will appeal to a particular target market.
The furnishings and design elements in a model home tell thebuilder's story of how he sees the house being lived in. Home buyersshould set their priorities.
Do I need more storage space? Can I convert this bedroom intoan art studio? Do I have enough room to entertain inside as well ason a patio or deck? Does this home provide the privacy I need? Location. An ideal location means different things to differentpeople.
We'll assume that a desirable location in terms of investmentstandards will be chosen by everyone, but location takes on addeddimensions that shape a buyer's lifestyle.
To some, the perfect setting is in a quiet suburban communitythat offers a family atmosphere, yet is only minutes from the city.On the other hand, there are buyers who prefer the action andexcitement of city life.
Location may also mean a particular school district or closeaccess to transportation. As a buyer, you need to ask youself somequestions that will help to determine which home suits your needs thevery best.
Purchasing a home isn't a decision to be taken lightly. As abuyer, you owe it to yourself to evaluate your interests andpriorities and to make a selection that matches your lifestylerequirements and wishes.
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