This Covid19 season has taught us that only the versatile survive.
Nothing is certain but death and taxes. Benjamin Franklin 1789
Versatile will have the meaning of multipurpose or adaptable.
What does versatile look like in real estate?
If you are planning on building a residential house, you can consider the following;
- Design it to have a home office or workshop or whatever space that can help you work from home.
- Have some space where you can keep chicken or have a kitchen garden.
- Have an outdoor space/ gazebo/terrace/balcony that you can use to entertain yourself and visitors while observing social distancing etc.
- Have a en-suite bedroom complete with a kitchenette that can be accessed from outside the house or a staff quarters that you can rent out or host a family or person who needs shelter for an extended duration of time.
- If they are rental houses or shops, can they be changed into something else? We have seen a matatu being converted into a pick up.
- If you lost tenants during this season, are you willing to reduce the rent to keep the remaining tenants or it is everything or nothing?
This Covid 19 season has also taught us that living in your own house has many merits and that as much as possible, you need to shelter your family before you start building rental units (building for others).
Imagine the way you’ve been home during this Covid19 season is how retirement looks like. Are you happy with your current shelter arrangements? Is it sustainable? Is it comfortable?
Are you thinking of building or buying a residential house or land? Talk to me, I might have an insight or two to share. firstname.lastname@example.org
Valuer Kariùki MISK, RV, MRICS
Registered & Practicing Valuer
Chartered Valuation Surveyor.