I was just talking with a close friend Robyn Thompson (The Queen of Rehabs) on a conference call last night with a bunch of students. And we got to talking about what kind of properties not to buy in today’s market and something she said made a lot of sense. She said she will not buy a small house right now.

While that makes sense, I had not put a lot of thought into it until last night. I have noticed a few things from buyers that told me that I should only be dealing with larger homes, but I hadn’t spent much time thinking about it. So I probed Robyn a little more about her philosophy towards buying larger homes and here is what we talked about.

First of all, because a lot of people are losing their jobs, they are starting small business and they are usually converting one of their bedrooms into a home office. And then I mention one other trend that I have been noticing. A lot of younger people that are losing their smaller homes to foreclosure and are being forced to move in with their parents or other relatives. And it doesn’t look like this is going to be a short term trend. I have talked to a lot of buyers recently that said that they are looking for a larger home because their sons, daughters and their spouses are moving in with them.

Also with the cost of elderly care and nursing homes, more and more people want to have their elderly parents live with them. There is yet another trend that Robyn Mentioned that I also agreed with and that is mother-in-law apartments are becoming more and more popular as a way to offset the cost of living.

These are just of few of the trends that Robyn and I have been seeing lately, and that is why Robyn is currently only buying 4 or 5 bedroom homes with plenty of space for multifamily and things look like this will last a long time.

What are your thoughts? I want to hear from you and together we all will be able to better prepare ourselves for the future.

Leave your Thoughts in the Comments Section just below this post.

Comments

10/2/2009 6:38:39 PM #

Ryan Johnson

That's one of the things that I love about Robyn Thompson, she's like a bloodhound when it comes to sniffing out trends that most others miss out on because she is so involved in the business.  

One other idea to support the idea of going after larger houses is that it seems like there is a growing market for renters and with that increase in renters it gives home owners more opportunity to rent out a bedroom or two to help with the payments.  The fact that there is a growth in the younger population looking to get into a new home offers another advantage because younger people or more used to living with other people and would be more open to pursue this option.

Kudos Smile

Ryan Johnson United States

2/18/2010 9:43:56 PM #

parenting advice

Magnificently done posting, if only all bloggers put up the same high quality content the net would be a good deal better place. Please continue to keep up the good work! Thanks.

parenting advice United States

3/16/2010 11:45:31 PM #

Retirement Savings Calculator

There is obviously far more to know about it as I expected. In my opinion you  made a lot of good points in your post.

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7/22/2010 7:27:51 PM #

Jackie

Great article, excellent advise and ideas as usual.  Thanks Robyn Thompson and Mike!

Jackie United States

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