Sunday, March 16, 2008

Beware of the Odd Floorplan

I recently saw a house (around 2400 sq. ft.) that had an asking price of $225,000 which was below the prices of most other houses in the neighborhood. It was a 4/2 that was totally remodeled. It had two bedrooms downstairs that shared a bathroom. Upstairs were two bedrooms on opposite ends of the house that shared a bathroom. The floors were gorgeous, the walls were painted a neutral color, the interior doors were new. I know why the house isn’t selling. It lacks a master bathroom. The master bedroom shares a bath with another bedroom. Also, this bathroom is in hallway rather than connected to the bedroom. For $225,000, you would expect a master bath. Even if I could get the house for $195,000, I doubt it would sell quickly. Until a master bath is added, this house will probably remain unsold unless a very specific buyer comes around. I could imagine a single parent looking to move into a good neighborhood that wanted a “separate area” for two children to each have a bedroom. Also, there was an addition that could be used for a game room that led to the outside. If the parent did not mind going down the hall to use the small bathroom, this would be an acceptable house. But for $225,000, you would expect a master bath.