A Real Estate Investment Boom
An upcoming boom in real estate may well be the Baby Boom. If you either currently have, or desire to be involved with, properties that cater to the senior's market, there is huge profit potential if you approach the opportunity professionally. After all is said and done, you can boil it down to a very few identifiable elements that make a property tremendously senior-friendly. They develop a high demand and thus result in a unique potential for profitability. So, if seniors are your market, here are some important things to remember.
- Make sure all improvement or upgrades are designed to make their lives easier. If you give someone more, they will gladly pay more. And if they pay more, your property should be more profitable than either a sales or rental position
- Lever type handles on doors make opening easier than having to grasp and turn round knobs.
- Hand rails that are 1.5 inch diameters are easier to hold on to and allow a hand to wrap it for greater stability.
- Raised electrical plugs allow guests to plug in items without the need to bend over so far that they are uncomfortable or lose their balance.
- Grab bars in bathrooms provide safety and stability in areas that are inherently difficult and dangerous for people as they get older.
- Wide doors allow for greater ease of entry and the possibility of wheel chair accessibility.
- The removal of entry barriers such as step over shower door thresholds will prevent trip hazards and possible falls.
- Increased lighting provide for better visual appeal and a more functional use for those who have reduced acuity.
All of these items will improve the marketability and function of your product. Be sure to promote these nuances and you will achieve increased demand that will in turn result in higher revenues. Higher revenues of course will result in higher profits. The senior's market is a huge and exploding opportunity for those who will approach it wisely and meet the needs of the aging baby boom public. The opportunity is obvious; the way to seize it is simple. Meet their needs. These ideas will help you do just that.