Selling any kind of property can be a challenging process for homeowners. There’s plenty of paperwork and red tape you have to go through to complete the sale. Additionally, there’s the hassle of finding the right buyer.
If you’re left wondering, “are bungalows hard to sell?” you’ve come to the right place. This article will cover what a bungalow is and what you should look out for if you decide to put yours on the market.
Are Bungalows Difficult to Sell?
Bungalows are usually considered affordable housing, making them a popular option in the real estate market. There’s a high demand for bungalows, but there’s also a relatively short supply. Depending on your bungalow, you can generally find a buyer quite quickly. This affordable housing option has become a hot commodity in this real estate market.
What Is a Bungalow?
Before looking for a buyer, you should know what makes your house a bungalow. The origins of the first bungalow were in India. It’s typically a small, one-story house. However, we don’t consider all small houses bungalows.
For your home to qualify as a bungalow, it has to meet a few criteria first, such as:
As any realtor will tell you, one of the most important aspects of a house is its location. Most of the time, bungalows will be close to urban areas. That’s the main difference between a bungalow and a cottage, as the latter is commonly found in rural areas.
The basis for any bungalow is its simple design. After all, their main objective is to provide affordable housing. So, engineers use simple construction and natural materials to build them. These materials are usually wood which is then sometimes painted or simply stained.
Bungalows are designed to blend seamlessly with their environment. Some people even take it further and paint their bungalows to match their surroundings. Additionally, the interiors of bungalows are simplistic.
Many bungalows will be one or one and a half stories high. The half story is usually part of the roof. Bungalow roofs have a steep slope, resembling the traditional houses we all used to draw as kids.
Bungalows are smaller than traditional houses. The space inside of an average bungalow is about 755 square feet. You may get an extra bit of land around your bungalow most of the time. This additional land brings the total square footage of the plot to about 2,370 square feet.
A lot of the time, bungalows have an open floor plan. Most spaces will be joined together in one way or another. It’s still divided into sections via walls, but no doors separate them. The only areas that might have some separation are the bedrooms and bathrooms.
The simple floor plan makes construction and installation much more manageable for builders. In addition, an open floor plan makes better use of the limited space, and it makes maintenance less expensive for homeowners.
As we mentioned, bungalows come with an exterior plot. It sometimes includes a small front porch. In addition to the porch, the bungalow will also have a small backyard garden and space to park your car. The garden is often big enough to plant many plants or flowers.
Are Bungalows in Short Supply?
In today’s world, bungalows have become a rare commodity as they have been replaced by traditional housing. Bungalows have been around since the mid-nineteenth century. Since the late twentieth century, bungalow numbers have constantly declined for modern properties.
On its own, this isn’t that big of an issue. The main problem comes with redevelopments. Over the years, people have expanded their bungalows or even completely revamped them. As families grow, people decide to add a full second story to their bungalows.
This modification adds extra space at a fraction of what it could cost them to buy a two-story home. Once they add another level to the house, it stops being a bungalow, both in definition and price. So, we are making fewer bungalows, but we’re also modifying existing ones.
Do Bungalows Take Longer to Sell?
The answer to this question depends on your location. The real estate market is reliant on the supply and demand of housing. Depending on the current state of the economy, there may be a lower number of potential home buyers.
However, the bungalow is likely to benefit from the low housing supply due to its affordable price. If you’re in an area with multiple bungalows for sale, you may need to compete on price to find a suitable buyer.
Still, for areas with few bungalows, there’s a high chance someone is already looking in the market for your property. There is always a consistent demand for affordable housing in the United States.
Another critical aspect to consider is your surroundings. The closer your bungalow is to the city, the more likely you’ll find a buyer. Make sure to do plenty of research about your area. Proper pricing for your bungalow will help make the sale process go much smoother.
Are Fewer People Interested in Bungalows Compared to Normal Houses?
In general, the demand for traditional houses is higher than for bungalows. There are a few reasons why bungalows have become an outdated form of housing for buyers. Some of the main reasons why are:
Bungalows have less square footage than traditional housing. If a home buyer is looking for a spacious place to live, they will likely skip over your property. A bungalow is more suited for single homeowners than those with a family.
Bungalows are typically on the outskirts of cities. This location makes them peaceful for those who want a break from city life. However, this location also means it’s further away from convenient amenities. People want access to conveniences like food delivery and shopping.
Unfortunately, you get farther away from these services as you go further outside the city. These services will take longer to reach, but it depends on the priorities. The lower traffic, crime, and noise of rural areas are more attractive to many people.
In most cases, regular houses will have higher resale values than bungalows. If you are investing in real estate, purchasing a home is a smarter option if you have the funds for the investment.
However, this isn’t always the case because of the decline in bungalows. With the right renovations and housing market conditions, some bungalows can be more than double in price within a few years.
Who Normally Buys Bungalows?
There are many types of people in the market to buy a bungalow. As the demand for affordable housing rises, several types of people want to purchase one. Two of the most common groups of people looking for a bungalow are:
Bungalows are small and affordable, which can be a big advantage for newlyweds and small families. They’re also more affordable and have a much lower property tax than traditional housing. The small size also means that it needs a lot less maintenance.
You’ll also find that utility bills are more affordable, which can be essential for someone on a budget. For bigger families, the size can seem like a disadvantage. After all, the largest bungalow typically has one or two rooms. It can get overcrowded for large families.
The second most common reason someone may show interest in purchasing a bungalow is for vacations. If you like to get away often, getting a bungalow on the city’s edge might be a good idea. Even though the inside may be tight, you can enjoy the space for short periods.
Bungalows are also a little remote from the hustle and bustle of the city. Hence, they become a great option for those looking to purchase a second property with a change of scenery from their current homes.
Are Bungalows Well Built?
Bungalows can be just as sturdy as regular houses. Current home projects follow a similar building process, including similar materials and floor plans. Most bungalows are built from the following materials:
There are a couple of different ways to build a bungalow. The most common building method is digging out the ground underneath to build a foundation, and the bungalow is built on top. This foundation provides a stable base for your bungalow.
In other words, it can withstand many harsh weather conditions like wind and earthquakes. Nevertheless, we sometimes build bungalows without an underground foundation. This building technique is best suited for areas with dry climates and no flooding concerns.
Are Bungalows More Expensive?
As with all real estate, bungalow prices can vary depending on the market conditions. In many regions, bungalows are more affordable than traditional houses. When buying or selling bungalows, the initial deposit tends to be much smaller than a house.
They require fewer materials to construct and much fewer maintenance costs required for upkeep. Overall, your annual expenses will be much less for a bungalow if you are looking for a budget-friendly option.
Are Bungalows Sought After?
As we mentioned earlier, there aren’t many bungalows left on the market in 2022. Nonetheless, as the human population grows, there are more people than houses. So, the good news is that there will always be a thriving market for affordable housing.
The affordable nature makes bungalows an incredibly hot commodity. As the supply goes down, the value of all remaining bungalows increases, making them highly sought after. You likely can sell a bungalow at a premium during a hot housing market.
If you’re wondering, “are bungalows hard to sell?” you must consider a few factors. When you’re trying to sell a bungalow, make sure you know the value of your property. Check bungalows in the surrounding area to understand the current price of the home.
You also have to take into account your surroundings. It’s always a good idea to hire a professional real estate agent or contractor to get the best deal. Ensuring your bungalow is fairly priced is the best way to sell it quickly and efficiently.