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handicap access--how do YOU handle it?

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Frank Bertrand

Junior Member
Joined
Aug 21, 2002
Professional Status
Certified General Appraiser
State
Pennsylvania
Did a two story with standard porch with steps and ramp for wheelchair access.

Interior modified for wheelchair by wider doorways, no threasholds, bedroom replaces living room, etc.

Wheelchair/handicap access not common to area, no comps with h/c access that could be realistically paired.

I'm leaning on the subject being
less favorable than homes without the access as it can be seen as detrimental from the exterior view.
and really doesn't conform to other homes in the area.
suggestions?
 

xmrdfghap

Senior Member
Joined
Jan 15, 2002
Professional Status
General Public
State
Florida
<span style='color:brown'>It can go either way. I would look at the demographics of the area. Is the neighborhood made up of young families or of babyboomer/empty nesters who will be needing H/C facilities in the near future? If the predominant buyers are young families, then I would gofor a cost to cure adjustment downwards reflecting the cost to remove th0ose parts that would inhibit a normal families usage of it (like the ramps, bedroom where the LR should be, etc). Wider doors and rails on the tubs and toilets would not offer any particular benefit but would not detract from the value.

But if they "typical" buyer in that neighborhood is going to be over 50's then the benefits may out weigh the costs......at which time I would adjust upwards to reflect the depreciated cost of the improvements.</span>
 

wyecoyote

Senior Member
Joined
Jan 15, 2002
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Washington
Could go either way as put by Greg. Without hard market data for the area you don't really know for certain. I did one of these twice in one case I had a house that sold to a handicaped person in the market area and a premium was paid for the sale. The other one I did had one sale that showed a premium and another that showed a negative adjustment both sold in the same time period. So the biggest problem is finding the market data to support an adjustment either way and reconiling that data. You know what to do get the 3 comps within 1 mile within 6 months.

Ryan
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
To piggy back on Greg’s comments, look at who your buyer may be and the market area. Also consider that those perks are not cheap. Given the special features, a longer marketing period may needed.

In all of my years, I remember only one house that was designed and built for handicap access. On the showing caravan, I remember thinking that it was a bit over priced, other agents thought so too. It was a 3 or 4 year old house with the asking price of the brand new homes in the S/D. It did stay on the market a little longer than typical, but an other person needing such amenities bought it saying that it was much cheaper than modifying
 
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