Stuart Hankin is a highly-reputed real estate investor with razor-sharp business acumen. Headlining Hankin Homes, he has quite the list of accomplishments under his belt. In 2010, Stuart began rehabbing distressed properties in South Florida. Just 6 years later, the investor set his sights on residential and commercial land, refining his expertise to give communities sustainable, affordable and modern living.
Today, the property investor has completed his first five affordable housing projects. In a bid to enhance the real estate market, Stuart spends his time developing stunning five-bedroom floor plans for multi-generational families.
Ample Room For The Whole Family
He elaborates, “Many people assume, and quite wrongly so, that downsizing homes are the way of the now. I beg to differ. Larger homes for bigger families are a great cost-cutter. If you have old parents and you’re not ready to move them into an elderly living facility, you can easily accommodate them under the same roof even if you have a brood of your own.”
The major boon is that the kids get to spend more time with their grandparents, and you’re saving on the cost of renting out a separate space for their housing needs.
Unexpected Guests Aren’t An Inconvenience
Stuart Hankin Hankin Homes believes that there is another huge benefit of 5-bedroom homes; guests galore!
“So it’s New Year’s and you have a couple of relatives drop by. Instead of disrupting your family’s sleeping plans to accommodate unexpected visitors, simply turn to all that extra living space.”
An Opportunity to Start a Home Business
In his floor plans, Stuart Hankin considers those who may have a stellar business idea and need that extra square footage for a fully functional home office. His advice? Kiss that commute goodbye!
The businessman points out, “Especially for those professionals that have qualms with renting or leasing an exterior office space, a home office is, frankly, a boon. Having to pay added rent, utilities and other costs for an outside office significantly adds to your monthly expenses. A five-bedroom plan factors in these pitfalls and serves to bridge the gap between convenient living and convenient working.”
Home offices provide immense tax benefits as well. For instance, you can claim a home office deduction for as much as $1,000 for a 200 square-foot space.
Big Houses Have a Great Resale Value
Stuart Hankin Hankin Homes agrees that plenty of buyers are initially deterred by the price tag of a larger home. What the entrepreneur urges them to also consider is that this is a one-time investment that generates an amazing ROI.
“Believe it or not,” Hankin says, “It’s easier to find a buyer for, say, a five-bedroom home than it is for a two-bedroom apartment. With the growing number of families in urban communities, spacious living is in high demand. You won’t have to look too far when searching for a buyer.”
He adds, “Sure, resale value is anybody’s guess. When buying a home, though, consider the future. I know so many people with little clue about how quickly homes depreciate, and before long, they have a dead investment on their hands.”
The real estate developer makes an excellent point. Research has shown that residential real estate depreciates by about 3.64% every year. Of course, there are various things you can do to combat a rapid decline in the resale value, investing in that extra square footage is one of them.
In fact, the value of a larger real estate investment can appreciate over time, creating more equity for the owner. Even if an appraiser isn’t willing to acknowledge its full value, a buyer definitely will.
More on Stuart Hankin
Stuart Hankin Hankin Homes continues to empower homeowners with the right knowledge and tools to invest wisely. Apart from his business pursuits, the investor is actively involved in philanthropic activities; from his local Chabad to the Kids Sanctuary program. Stuart Hankin married Britney Linsky in 2014, and in 2016 they welcomed their first child, Harry Hankin.
Stuart Hankin slows no signs of slowing down. He is eager to invest in sustainable, innovative and future-friendly real estate ideas that positively impact the residential and commercial market as a whole.
Stuart Hankin is a compelling force in the real estate world. Having had a humble start in a suburb outside Philadelphia, the entrepreneur obtained his Bachelor’s Degree in Operations and Information Engineering from Cornell University in just 3 years.
In 2010, the real estate investor started purchasing and flipping distressed properties in South Florida. Fast forward to 2016, Stuart turned his attention to residential and commercial land to uplift communities, improve the quality of life and increase ownership opportunities for financially distressed families.
Stuart’s precociousness and eye for meticulous detail have taken him far in life. Today, the businessman helps renters sublimate their financial burden by turning to homeownership.
Stuart Hankin Hankin Homes believes that homeownership has distinct advantages over renting, specifically when it comes to growing your wealth and creating a stable environment for the family.
Per the businessman, “What renters don’t often consider is that while buying a home is more expensive at the outset, it’s cheaper than renting long term.”
Stuart Hankin adds, “In fact, one of the most pressing benefits is that it helps build equity. So let’s say you pay 20% down on a home that costs $300,000. This means you would still owe $240,000 and your equity would be $60,000. Now let’s say that home appreciates in value. Guess what? Your equity increases even though the amount you owe does not.”
To Stuart, owning your own home isn’t just an exaggerated extension of the American Dream. On the contrary, it helps families set down strong roots in the community and access financial stability.
Statistics released by the National Association of Realtors show that approximately 5% of homeowners relocate. This is nowhere near as alarming as the whopping 26% of renters that also do so within the same time frame.
Stuart Hankin urges renters to think of the little things, “When you set down roots, not only do you enjoy that crucial stability that comes with a home, but you can count on your neighbours for the little things like feeding your cat or picking up your mail when you’re out of town. These are luxuries closed off to renters given their rapid turnover rates.”
The tide is definitely shifting. A report by real estate website Trulia showed that homeownership is 38% cheaper than renting, based on the traditional 20% down payment and 30-year-fixed-rate mortgage. This can be attributed to the skyrocketing rent rates and the low fixed-rate mortgages which are at about 4.5%.
Homeownership has proven to be the most reliable method to increase one’s net worth even when pitted against other tactics like investing wisely and applying business acumen. Research has shown that housing is the largest asset in the average American’s portfolio, accounting for about 67% of all their assets.
Stuart Hankin Hankin Homes swears by these findings. He advocates that this is the surest way to store wealth and build your bottom line down the road.
In 2019, Stuart completed five new construction projects that earned him incredible repute within industry circles. The real estate developer has received tremendous praise from his peers and clients alike for his sustainability and innovation of design.
Aside from his many business accomplishments, Stuart Hankin is a philanthropist at heart. He devotes a large portion of his time to tutoring kids as part of the Kids Sanctuary program and being actively involved in his local Chabad. Stuart lives with his wife of five years, Britney Linsky, and their three-year-old son, Harry, in Palm Beach Gardens, Florida.
What does the future hold? The entrepreneur plans to use his uncompromising drive to take the real estate market to greater heights. For Stuart, knowledge is power. He is keen on helping buyers and renters improve their knowledge of the market and make empowered investment decisions