Market for accessible homes?

[xiamenmom]

We are thinking of buying a foreclosure and putting in some money to make it accessible. Got me thinking that if we could afford to do that for more than one home that it might be fairly easy to turn around and sell it. Seems like there are always people on this site looking to buy affordable, accessible housing. In a big area like Atlanta, do you think that this would be a good investment?

[ancientgimp]

We are thinking of buying a foreclosure and putting in some money to make it accessible. Got me thinking that if we could afford to do that for more than one home that it might be fairly easy to turn around and sell it. Seems like there are always people on this site looking to buy affordable, accessible housing. In a big area like Atlanta, do you think that this would be a good investment?

You would have to market it specifically to disabled. When you get the standard real estate person in to look at your home in prep for a listing the 1st thing they do is lecture you about dropped countertops in kitchen, roll under cooktop, dropped cabinets, etc. We had 2 in who said it would cost thousands to remake it into AB kitchen. Less of a problem if you only deal with ramping and bathrooms. If you do an all out accessible house I would recommend educating yourself on handling your own sale then market exclusively to disabled. Might work well in an area like Atlanta.

[-scott-]

You would have to market it specifically to disabled.

I disagree. Barrier-free homes appeal to a lot broader population than just individuals with disabilities.

Depending on how you define "accessible," ADA-compliant and universally-designed are two different things. The latter is significantly more marketable to home buyers.

[t8burst]

I think it is a good investment. When my wife and I built our home we planned on growing old in it. That made "making it accessible" much easier. A ramp and a rollin shower was all it took. I think a house marketed as one you can grow old in would have added value given our aging population.

[ancientgimp]

I would agree a universally designed home is a sales asset. Because my wife and I are both chair users we did the whole 9 yards. Our cupboards are dropped to the point that ABs smash their head on a cabinet when they use our kitchen sink. Our countertops are dropped, cooktop is roll under and our oven is lap high. We have had 2 realtors in and both said that it would cost thousands to remodify kitchen for ABs. If I were serious about selling right now I would handle the sale myself at least initially until I saw if I could generate interest using ads in disability publications, Carecure, etc. I feel I could get a much better price from a gimp as I have sidewalk to lake, adjustable dock, accessible pontoon boat, plus 2 roll-in-showers. The house would have above market value if sold to a person who needs all this access but probably below market if sold to AB.