Will Live-Work Units Be The Hottest Real Estate Trend of 2014?
Will live-work units become the hottest property type by next year?
Could live-work units be the best choices for business owners looking for wealth building opportunities and for real estate investors looking to get ahead of the curve?
Live-work units became one of the hottest trends at the peak of the last housing boom. With things looking up again, could they become one of the best pieces of real estate to buy?
With both small businesses and independent entrepreneurs launching their own careers, more jobs are being added to the economy. Live-work units, combined with trends towards smaller and home working spaces, could become some of the most in demand property over the next 5 years.
Builders are back in the game and they love these properties. The premiums that they fetch, especially when combined with breaks from local government, serve as a huge incentive.
There is huge incentive for local government to encourage this style of development. They are increasingly seen as essential mixed use property types. They can act as a barrier or transitional space between residential and commercial areas, can create more tax revenues per foot and allow cities to blossom without taking down historic buildings.
Expect live-work units to be promoted heavily again by the end of next year, with new projects unveiled early.