Waikoloa real estate, like any kind of real estate in the country, is undergoing a bit of a transformation. In fact, a recent article in The New York Times indicated that one of the biggest transformations in today’s real estate market is flexibility. Whether it is on the Big Island of Hawaii or somewhere in the midwest, many buyers are looking for a home that is flexible. As more and more home owners deal with the reality of having an intergenerational home, it should come as no surprise that home spaces are transforming.
With a home that can serve as both a primary residence for the home owner and a space that can be used by aging grandparents or college graduates returning home, Waikoloa real estate and properties for sale in many places across the country often have two sides. One side, obviously, serves as the home for the main family who is living in the space. The other side, which is sometimes attached and sometimes not, can serve as a separate residence for adult children, aging grandparents, and, sometimes, even renters. As home owners try to make their spaces work for them, there are many times when the formal living rooms and dining rooms are being transformed into great rooms that can serve a variety of purposes.
Flexible Housing Is a Goal of Many Property Buyers
For families who are looking at an opportunity for a little extra income, there are many homes that have special spaces that are dedicated to Air BNB type rentals, and sometimes home offices. Knowing that you have a house that you love is one thing, but knowing that you have a house that meets all of your needs is another. When, for instance, you can leave the main living space and go to the office that is located in a smaller building on the same property means that you can enjoy the opportunity to enjoy your home, but not need to travel for work.
For families who have children who have left the nest, it is not unusual to have a home that allows space for vacationing renters. Especially is beautiful spaces like Hawaii, it is increasingly popular for families to create a second home or space on their property that can be profitably rented to guests. Waikoloa village homes, for instance, can bring in a significant amount of extra income for a couple who is getting ready to retire. Capitalizing on an ideal location like Waikoloa beach villas means that you can make a property work for you, instead of the other way around.
In the year 2014, first time buyers comprised 33% of the U.S. housing market. May of these first time buyers, even those who are looking at Waikoloa real estate, are looking for flexible properties. Knowing that you can provide a space to extended family members or that you can earn additional income from short term rentals can help you create a property that works for you in today’s housing market.
The average price per square foot for homes in Honolulu hit $548 in 2017, so it should come as no surprise that many buyers are looking for options that allow them to use their homes for a variety of purposes.