Teardowns are trending in real estate across the country.
While tearing down a home to build a new one is not a new concept, the action can be controversial in some neighborhoods or circumstances, which is something that the National Trust for Historic Preservation considers. On the other hand, the NAHB also recognizes that updated construction can “breathe new life into older communities.”
Teardowns on Sanibel and Captiva
We’ve noticed teardowns in Sanibel real estate lately, and it’s something we anticipate we’ll continue to see.
Sanibel Realtors® have observed that advanced technology and building codes over the past 10 years have resulted in homes built of a significantly higher caliber. These homes are now entering the market and raising the average home sales price on the islands. Sanibel and Captiva land values are also rising, even to the point where the land value can exceed the value of the home built on top of it.
What does all of this mean? We’re likely to see more of the older homes taken down and replaced with new, larger, state-of-the-art homes.
Teardowns in the U.S.
National Mortgage News reported on the teardown influx across the country, defining a teardown as a scenario when “builders or private individuals purchase an aging, outmoded house, then demolish it and replace it with a modern home that will suit today’s homeowners.”
They noted that there were roughly 55,000 teardown-related constructions of single-family homes in the U.S. in 2015, compared to about 31,800 in 2014. Read more about it in their article “Teardowns on a tear.”
Interested in Sanibel real estate?
If you’re interested in Sanibel real estate, contact one of our knowledgable Sanibel realtors, search our MLS for available properties, or get in touch with our office at 239-272-2411 for general inquiries or to help you find the Sanibel realtor that’s the right fit for you.
[button link=”https://homes.sanibelrealestatemarket.com/idx/search/advanced” target=”_blank”]Search our MLS for available Sanibel and Captiva Real Estate[/button]Source: Teardowns on a Tear
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This article is provided by John R Wood Properties, a full service Sanibel Island real estate agency made of people who love where they live as much as what they do. With local knowledge and decades of combined experience, our Sanibel and Captiva Island realtors are passionate and dedicated to exceeding your real estate needs.
About the author: Nina Rogers is a writer, designer, and illustrator who grew up on Sanibel Island. As a Communications Content Manager for John R Wood Properties, Nina enjoys keeping people updated with the latest in local news and Sanibel real estate.
