Stuart Hankin is a highly-reputed real estate investor with razor-sharp business acumen. Headlining Hankin Homes, he has quite the list of accomplishments under his belt. In 2010, Stuart began rehabbing distressed properties in South Florida. Just 6 years later, the investor set his sights on residential and commercial land, refining his expertise to give communities sustainable, affordable and modern living.
Today, the property investor has completed his first five affordable housing projects. In a bid to enhance the real estate market, Stuart spends his time developing stunning five-bedroom floor plans for multi-generational families.
Ample Room For The Whole Family
He elaborates, “Many people assume, and quite wrongly so, that downsizing homes are the way of the now. I beg to differ. Larger homes for bigger families are a great cost-cutter. If you have old parents and you’re not ready to move them into an elderly living facility, you can easily accommodate them under the same roof even if you have a brood of your own.”
The major boon is that the kids get to spend more time with their grandparents, and you’re saving on the cost of renting out a separate space for their housing needs.
Unexpected Guests Aren’t An Inconvenience
Stuart Hankin Hankin Homes believes that there is another huge benefit of 5-bedroom homes; guests galore!
“So it’s New Year’s and you have a couple of relatives drop by. Instead of disrupting your family’s sleeping plans to accommodate unexpected visitors, simply turn to all that extra living space.”
An Opportunity to Start a Home Business
In his floor plans, Stuart Hankin considers those who may have a stellar business idea and need that extra square footage for a fully functional home office. His advice? Kiss that commute goodbye!
The businessman points out, “Especially for those professionals that have qualms with renting or leasing an exterior office space, a home office is, frankly, a boon. Having to pay added rent, utilities and other costs for an outside office significantly adds to your monthly expenses. A five-bedroom plan factors in these pitfalls and serves to bridge the gap between convenient living and convenient working.”
Home offices provide immense tax benefits as well. For instance, you can claim a home office deduction for as much as $1,000 for a 200 square-foot space.
Big Houses Have a Great Resale Value
Stuart Hankin Hankin Homes agrees that plenty of buyers are initially deterred by the price tag of a larger home. What the entrepreneur urges them to also consider is that this is a one-time investment that generates an amazing ROI.
“Believe it or not,” Hankin says, “It’s easier to find a buyer for, say, a five-bedroom home than it is for a two-bedroom apartment. With the growing number of families in urban communities, spacious living is in high demand. You won’t have to look too far when searching for a buyer.”
He adds, “Sure, resale value is anybody’s guess. When buying a home, though, consider the future. I know so many people with little clue about how quickly homes depreciate, and before long, they have a dead investment on their hands.”
The real estate developer makes an excellent point. Research has shown that residential real estate depreciates by about 3.64% every year. Of course, there are various things you can do to combat a rapid decline in the resale value, investing in that extra square footage is one of them.
In fact, the value of a larger real estate investment can appreciate over time, creating more equity for the owner. Even if an appraiser isn’t willing to acknowledge its full value, a buyer definitely will.
More on Stuart Hankin
Stuart Hankin Hankin Homes continues to empower homeowners with the right knowledge and tools to invest wisely. Apart from his business pursuits, the investor is actively involved in philanthropic activities; from his local Chabad to the Kids Sanctuary program. Stuart Hankin married Britney Linsky in 2014, and in 2016 they welcomed their first child, Harry Hankin.
Stuart Hankin slows no signs of slowing down. He is eager to invest in sustainable, innovative and future-friendly real estate ideas that positively impact the residential and commercial market as a whole.