Long-term housing plans more important to homebuyers

Buying a home that can be modified to suit the needs of a changing family structure is becoming more important to prospective homebuyers, according to the Chicago Tribune.

Though a major consideration in previous years was a home's ability to be modified in the short-term, the state of the economy has caused homebuyers to reside in the same home for a longer period of time. Therefore, they now consider how their family may change and whether or not a home has the capacity to expand to meet future needs.

"People thought the economy would continue to boom, but today they're not sure it always will, so they're planning ahead for family needs that might include the kids moving back after college or the in-laws eventually moving in with them," John Wozniak, of the Home Builders Association, told the Tribune.

Some homebuyers consider lofts, dens, offices and basements as spaces that can be converted to suit other purposes in the long-run, according to the Tribune.

The source also suggests that homes with certain accessibility features, including elevators and large bathrooms could potentially assist homeowners as they age, should they develop any physical disabilities.

For people planning on moving into a new home for the long haul, the source recommends studying the floor plan of a prospective home thoroughly before making a decision.  

More News