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The Home Investor - eTips
A BizBrick publication |
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In This Issue
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| Baby Boomer Retirement &
The Impact on Home Investors
We all know the baby-boom
generation is fast approaching retirement, but have you considered how this
is likely to impact the housing market. Since the housing market is
responsive to supply and demand, retiring boomers is likely to have a
significant impact on every housing market across the country. In this
edition of The Home Investor, we'll give serve up some food for thought on
what might be coming to a housing market near you soon!
We’ll review some
specific aspects of home design that are expected to be impacted by these
changes and consider how regional markets might be transformed.
As people retire, they’ll
begin looking for specifics in their choice of retirement home. Anticipating
these changes when reviewing your property choices can make the difference
between a home that increases in value and one that doesn't.
Interior Design: Stairs
As we grow older, stairs
become more difficult to handle, so homes with a single-story layout such as
ranches are likely to become more popular architectural styles. If stairs
are unavoidable, wider stairways make it easier to add a stair lift if
necessary. Another great option for larger, upscale homes would be to
install an elevator, providing easy access to all levels and instantly
making a home more desirable for retirees. (This would be a good option for
prestige location homes such as waterfront properties).
Bathrooms
Having an en-suite
bathroom is essential when considering retirement. Even better is to have a
bathroom master suite with a separate toilet. Bathrooms should be spacious
and offer easy access (no high steps into the bathtub or shower). Allow room
for adding grab rails per customer demand.
Bedrooms
Be sure to design
bedrooms with natural light and space for sitting and reading. Provide
plenty of power outlets to give flexibility in positioning bedroom
furniture. Walk-in closets with a dressing area make it easier to manage
dressing and undressing.
More online:
For details on these other areas go to http://www.ushomeinvestor.com/boomers.htm |
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From The Archives
The
Home Investor Ten-Step Renovation Program.
"Nothing great was ever achieved without enthusiasm." Ralph
Waldo Emerson
Step One: Realistic skills assessment
Begin by
determining what skills you have that can (and should) be applied to your
renovation project. If your project is strictly an investment, you need to
consider the cost of your time in terms of how much you can earn an hour by
doing other work (perhaps your main employment). If you can earn $100/hour as
a computer programmer, don’t give up time you can use writing software to do
a $15/hour laborer’s job on your renovation project. By working on your
software, you can easily pay a contractor to do the $15/hour job and still
have $75/hour in your pocket. However, if you find renovating to be a relaxing
diversion from your income generating work, you might justify some time spent
on the project as relaxation.
If money is tight
on your first project, you will probably take on more work yourself, otherwise
plan on contracting as much of the work as you can so your project gets done
on-time and you can reap the rewards by selling the home sooner.
So in step one,
figure out what you should do yourself and which jobs will need to be
contracted out.
Step two: Set a project budget
Before entering
into any project, you should know where your funds will come from to purchase
and complete the renovation project. You will typically need money for the
down payment on a purchase as well as funds to cover whatever loan payments
you need to complete the purchase. You will also need to fund the work to be
done. Sometimes a seller is willing to take back a loan note on the property
in order to help sell it if it is in particularly bad shape.
...read
more online |
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For Expert Advice
On Local Real Estate Deals
go to www.USHomeinvestor.com/specialists/specialists.htm |
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Book
Suggestions
Here are a few good books that
we hope you will enjoy as much as we did. (You can read more on any of these
books and buy from Amazon at the book club section online www.ushomeinvestor.com/books/)
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Investing
in Real Estate
by Andrew James McLean, Gary W. Eldred
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Trump
by Donald J. Trump, Meredith Mciver
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Professional
Real Estate Development
by Richard B. Peiser
Plus a full range of books on Real Estate Investing and books
for the Real Estate Professional. |
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For information on Buying,
Renovating
and Selling Real Estate go to
http://www.USHomeInvestor.com
If you are a licensed
Realtor® interested in becoming a
Home Investor Specialist™ go to http://www.ushomeinvestor.com/rltr/
If you are looking for
packing boxes, get great prices on boxes of all shapes and sizes, including
complete moving kits at Moveout!
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| ©2004 BizBrick
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information contained in this email and on any associated or linked website
is for entertainment purposes only; no investment decisions should be made
based solely upon the advice given within this email or its associated
Internet content. Investors should consult with appropriate Real Estate
Professionals, Lawyers, Accountants and Investment Advisors before making
any property investment decisions. The recipient has agreed to be bound by
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