Separate Entrances - A Big Plus
Those who read Market Insights on a regular basis know that, from time to time, I provide an insight that is out of the norm. This is one that is often not even on the radar screen of most buyers or sellers. An extra entrance is a big deal; really it is. The reason: The more entrances, the more potential uses for the property.
Young couple buys big house
I love to illustrate points with real-life stories out of my real estate practice. Just this week, clients of mine, a young couple buying their first home, closed on a property that is way bigger than they wanted.
Yes, they started looking at properties around 1,500 square feet and bought one that is 2,400 square feet for only $35,000 more. They thought I was crazy when I suggested we look at this property.
They said, “We saw that one online but it is just too big for us.”
I said, “It has a separate entrance on the lower level which means you two can live on the top floor and your roommates could live on the bottom floor and never interrupt you.”
The extra entrance made this home both appealing and feasible for this couple.
The two bedroom ‘lock-off' condo
Some condos built in Summit County since the early 1970s have a lock-off configuration. The Tannenbaum by the River complex in Breckenridge is a case in point.
Here you have two-bedroom units with an extra entrance off one bedroom and a lock-off door that separates this bedroom from the rest of the condo. With this configuration, the unit can be rented as a two-bedroom condo or as two one-bedrooms (one section includes the kitchen and living area while the other resembles a hotel room). And these units are, generally speaking, more popular than a standard two-bedroom condo because of the flexibility.
Top floor of duplex with separate entrance
When you look around Summit County, the majority of separate entrances are on the ‘garden level,' which is a polite way of saying ‘kind of, sort of, the basement, but not really.' However, I can assure you living on the ‘garden level' of a home built on a slope means you will be living like a mole without much sunlight. Not desirable. So when I come across a top-floor separate entrance I say, “Got to love it.”
See that spiral staircase on the left of the main photo? The one that goes up to the huge deck? That is a top-floor extra entrance. The second photo shows why I love this property. Look at how nice it is. And this floor has a full bathroom and bedroom. This property is located at 33B Red Feather Road in the Warriors Mark area of Breckenridge. It has a total of five bedrooms, plus an attached garage, and was built in 1996. It is a walk to Main Street and the ski slopes and has a bus stop at the corner of the road. Price: $635,000. Got to love it.
Photos, Special to the Daily, Bob Bloch
Market Insight for the week
Buyers: Be on the lookout for those extra entrances. They are normally not mentioned in the description of the property, so study the online photos closely. Once you see that extra entrance, turn your creatively on by asking yourself, “How can this extra entrance be used to add value?” Sellers: You may have an extra entrance that, as mentioned above, is not being featured in your marketing. Demand your Realtor think outside the box.
Daniel Webster Johnson has earned the national Quality Service Certified Platinum award, recognition of 100 percent client satisfaction. He is a broker associate at Resort Brokers Real Estate in Breckenridge. Call him at (970) 393-3300. Drop him a line at Daniel@YourMountainBroker.com.