I am looking at a 1240 sqft house with a very small kitchen, but a pretty good size master bedroom and master

Asked by Dee, South Sac Sun Apr 13, 2008

bathroom, relative to houses of the same square footage. How do you think these will effect the rental and resell price of this house?

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4
Gene Yakubov…, Agent, Burlingame, CA
Mon Apr 28, 2008
Dee,

We have a house, that got buid in 2007, 3BR/2BA 1547 sq. ft with large Master Suite in midtown. At the time we could not sale it. We are renting it now. Rent money recieved basically covers 85-90% of expences. Tenant pays for the ulities. There are number of properties like that around and I'm sure that it is rentable. If you are intersting I can tell you more about our property.

Gene

There are number of preperties
0 votes
Sue Archer R…, Agent, Palm Harbor, FL
Mon Apr 14, 2008
Interesting question. I have a buyer who would love a home of this size. She is a single mom raising three kids. You don't mention how many other bedrooms, but she wants some private time in her own room and her one stipulation was a large bedroom. That is often hard for us to know without viewing the properties because most listings don't describe size of the master. Kitchen size wasn't a factor in her case.

There are just more factors that a buyer considers than just these two, in almost all cases. Does the buyer want a yard, or not, and what do they want to do with it? Garden, entertain, play yard for kids....
Do they need a larger family room/great room, or do they want the formal living room/dining room combination? ...too many other factors to consider when comparing homes of 1200-1300 square feet ...

In terms of rental, the property rental surveys that exist normally give average rental prices on three factors, size of home, and number of bedrooms/baths. They don't consider size of kitchen or size of master. Those become buyer preference issues, not directly related to pricing, in my experience.
Web Reference:  http://www.suearcher.com
0 votes
Jim Walker, Agent, Carmichael, CA
Mon Apr 14, 2008
I was taught that you need one buyer (single couple or family) for a house, to make a sale. If the house does not appeal to most buyers, it can still sell if it seen by the buyer for whom that house is perfect.

Just as a showing agent tries to find hte perfect house for a buyer, a listing agent triies to envision the perfect buyer for their listing.

For the subject house, I would envision buyers who have busy lives outside the house, don't entertain much at home (with dinner parties), People that eat out a lot, or eat take out food, pre packaged dinners etc. Lots of people have those kinds of lifestyles. I would create a marketing campaign that targeted people with that lifestyle. I would emphasize the benefits of the spacious master suite in my advertising and market write up.

If I was offering a buyer premium for the house, it might be for gift certificate to a local restaurant..
0 votes
Pacita Dimac…, Agent, Oakland, CA
Mon Apr 14, 2008
You probably are expecting the standard answer: "It all depends."

But it does. In real estate, the adage location, location, location still applies. Today, augment that with price, price, price.

How is the market in your area? If it's a hot market, size of the kitchen may not be foremost in the buyer's minds. But in a declining market, focusing on improving perception of the kitchen is critical since that is one of the major factors in a home purchase.

A very small kitchen may be improved by simple rearrangement. If there's room for expansion, you may even consider that, but at what cost? Will you be able to recover the cost when you sell? How long are you planning to keep it before you sell?

There's a good site that provides an analysis of Cost Vs Value, They have an annul report, and it provides regional analysis.

Since you seem to be in the Sacramento area, I'm providing the link to that report.
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