Three Inexpensive Makeovers That Will Boost Your Home’s Appeal to Young Buyers

Three Inexpensive Makeovers That Will Boost Your Home's Appeal to Young BuyersWhen preparing to list your home for sale, you may be wondering who will buy your home. While this initial thought may be one spurred by curiosity, the fact is that understanding who your target audience is and what they are looking for in a home may help you to position your home to sell more quickly and for a better price.

If you have determined that there are many younger buyers moving into your area, you may want to make a few changes that will add appeal to this target audience. While you could spend tens of thousands of dollars or more completing a home makeover, there are a few budget-minded ideas that you may consider.

Add Color to Molding and Trim

One of the hottest trends in home décor and interior design is to get rid of the standard white trim and molding and to add color to these areas. Neutral hues like grays and browns have universal appeal, or you can give your space a more contemporary look by adding black to these areas.

Generally, you will want a more neutral color like a creamy beige on the walls when executing a look with colored trim.

Update Light Fixtures

If you have a little more money to spend, you may consider updating your light fixtures. There are rather affordable yet stylish fixtures available in a wide range of finishes.

When your rooms are empty or staged to perfection, the light fixtures can easily set the tone of the room and may be focal points. Outdated fixtures may have limited appeal to young buyers who are looking for a home that is modern and current with today’s trends.

Redefine Outdated Spaces

In some older homes, some of the rooms may have originally been built with outdated uses in mind.

Today’s younger buyers may be looking for a home with an exercise room, a media room or a study rather than a formal living or dining area. With this in mind, you may consider how you can stage your home to show that it can be used for modern purposes.

This may simply mean moving your formal dining room set into storage, adding French doors and investing in an affordable desk and side chairs for staging purposes. This is just one of several options available that may give your home broader appeal to a younger audience shopping for a modern floor plan.

If you are thinking about renovating your home and you believe that you will likely attract younger buyers to your area, you can consider implementing some of these ideas in your space. 

Real Estate Investing: Why Buying Raw Land Can Be an Excellent Long-Term Strategy

Real Estate Investing: Why Buying Raw Land Can Be an Excellent Long-term Strategy When many people think about investing in property, they think about purchasing income-producing real estate such as a residential property or an office building with tenants. There are indeed many benefits associated with investing in income-producing property. For example, these properties may produce rent that can offset your ownership expenses. However, buying raw land can also be an excellent long-term investment strategy.

By learning more about the benefits of investing in raw land, you may be ready to start searching for real estate to invest in soon.

Minimal Ownership Expenses

Raw land will not have as many ownership expenses as land. This property may not produce rental income for you, but you also will not have to maintain or repair a building or pay for property insurance. Property taxes and a mortgage payment may be lower as well. Typically, your main expense will be the mortgage payment, and this may be far less than what a mortgage payment on developed land may be.

You essentially will be able to pay for the property outright to have no expenses or to leverage your investment and make affordable mortgage payments to pay for your investment.

Significant Potential Gain

There is a significant potential for long-term financial gain with your purchase of raw land. Consider that you can adjust the zoning or subdivide the property as desired. You can also wait for urban sprawl to reach the area to drive up demand and value for the property. It can be difficult to predict when the property value will increase. However, when you select a property in an area that seems to be growing, you may expect there to be some demand for that property in the coming years. Many who have invested in raw land may realize a significant gain when they make plans to hold onto the property for several years or longer before selling it.

Before you make any financial investment, it is important that you consider the amount of time that you wish to hold the investment before seeing a return on it. With raw land, you generally need to anticipate hanging onto the asset for several years or even decades before seeing a financial gain. Make sure to talk with your trusted loan officer about what would be best for you and your financial situation.

Keep in mind that land is a limited resource, and there is increasing demand for it as populations rise in many areas. With this in mind, you can generally expect most property values to eventually rise over time.