The @properties Development Group Advantage: Floor Plan Optimization
As the concept for a new residential building begins to take shape, a critical step in the early planning is mapping the floorplates and envisioning the individual residences. At @properties Development Group, we lend our expansive experience in early-stage involvement in our clients’ projects to consult on Unit Mix & Floor Plan Optimization. How does optimizing floor plans set up a project for success? Cyndy Salgado, Executive Vice President of Development Sales & Marketing, breaks down how floor plan optimization ultimately has major benefits to clients and their buyers alike.
How does floor plan optimization affect the sales and marketing of a building?
In new construction projects, the burden of buying before it’s built is challenging; there are many unknowns, and being able to walk buyers through a well-thought out set of floor plans puts their minds at ease and reassures them that someone with experience is guiding the process.
Why is this such an essential part of the development cycle?
Buyers want the opportunity for early pricing and first pick of units, however; at the beginning of the process, they are also taking the most risk because they don’t have actual models (or finished residences) to explore. Too many unknowns will cause a buyer to hesitate and wait until the product is delivered. Our job is to help minimize the uncertainty so they can “visualize the plan,”get the best pricing, and get their choice of residence.
It’s really important to focus on where the buyers are coming from and what their current homes lack. Too often, as real estate professionals, we jump in with “what are you looking for?” But if you spend time getting to know what they don’t like, or why they’re looking to move, you can focus on elements that are really important to them and highlight them on the floor plans. We help guide them through how the plans will address their pain points.
What are the risks of not optimizing floor plans for those pain points or needs?
Floor plan optimization is all about assessing current needs and trends and making sure they’re included in the design and development process. As a leading brokerage with thousands of agents, we hear in real time what’s happening in the market and bring it to table. If you’re looking to sell a new product at the highest prices and at the fastest pace, you have to design towards what buyers want today, and we have a direct line to consumers to inform those decisions..
Who from the @properties Development Group is typically involved?
Myself, one of the Partners (Mike, Nick, Dimitri or David), and sometimes — but not always — some of our top agents who are on the front lines.
What value does floor plan optimization bring to buyers?
Buyers end up with a home that is thoughtfully laid out and scaled out, meaning rooms are appropriately sized, the storage accommodates what they expect, the space flows and access to natural light is thoughtful and well-considered. Ultimately, the buyer enjoys the home more, and whenever they might want to sell, a thoughtfully-designed home will garner a higher price.
The costs are the same whether you create good floor plans or mediocre ones, so why not take the time and discipline to make great design a priority? Small things like bay windows, nooks, built-ins, pocket offices or additional storage add a lot of character to an interior space. We encourage our development clients and their architects to incorporate these unique elements into the plans because while designing a good plan sounds easy, you have to stay on top of trends to deliver what buyers want.
How have tastes and priorities of buyers shifted because of the pandemic?
It’s always been important to keep up with the latest trends, and now that we’re emerging out of COVID, we have the opportunity to respond to new priorities that have materialized. We have history and experience that give us insight into which trends are likely to remain or fade quickly. (For example, the demand for home office spaces and backyards is here to stay.)
Trends in real estate might change, but building thoughtful residences is a timeless practice. Our Floor Plan Optimization ensures that a project is designed for today, tomorrow and for years to come.
In new construction projects, the burden of buying before it’s built is challenging; there are many unknowns, and being able to walk buyers through a well-thought out set of floor plans puts their minds at ease and reassures them that someone with experience is guiding the process.