Homeownership in Your Golden Years
Independent living is often cited as being good for one’s well-being, so it’s no surprise that aging in place has become so popular. Thankfully, many options in today’s housing market make it possible.
Preparing for physical safety and financial security are the most immediate concerns that come to mind as we plan for aging in place. However, convenience and overall well-being should also be considered before deciding where to settle in.
Here are three housing options to weigh as you or your loved ones plan for continued independence.
1. Renovate Your Current Home
Adding front entry ramps, bath bars, sit-in tubs and other safety features may make it physically possible to stay where you are. However, renovation costs can add up quickly, especially if they’re needed all at once.
Home maintenance should also be factored in. Who will manage the upkeep if the property has multiple floors or a large yard?
2. Right-Size to a Manageable Floor Plan
Some may find it easier to purchase a home with barrier-free, universal design rather than deal with the stress of home renovations. Moving closer to family and friends can also help to prevent social isolation or depression.
3. Buy a New Home With Family Members
Floor plans for multigenerational homes are often designed with individual privacy in mind while allowing family to be nearby. Sharing home maintenance costs also minimizes living expenses. And this is an excellent way to help family members enter into homeownership.
Aging in place requires thoughtful preparation. Get in touch today for a referral to a trusted financial adviser to begin this journey. You can also reach out if you’re interested in learning about your home’s value or finding a new property.
Hottest Bathroom Trends for Any Budget
A bathroom remodel is one of the most rewarding projects you can undertake as a homeowner. When well-planned, it can improve your home’s aesthetics while adding convenience. And it usually offers a significant return when it comes time to sell.
Remodels don’t have to break the bank, either. With just a few hundred dollars and a little elbow grease, you can make a remarkable impact to your space — both in value and style.
Not sure where to start on your bathroom remodel? Here are some of today’s hottest trends:
Bold Metal Fixtures
Budget: Low
Forget those old handles, faucets and drawer pulls that blend in. Today’s designers are making these small details stand out. Think bold brass, matte black or even rose gold.
Modern Wallpaper
Budget: Low
Wallpaper is back — especially intricately illustrated designs and bright, bold patterns. It’s low-cost, easy to DIY and makes an immediate impression.
Smart Tech
Budget: Low to Medium
Savvy consumers are using smart tech in their powder rooms for a touch of luxury. Some of the most popular features include autofilling bathtubs, voice-activated mirrors and sound systems, and LED-enhanced showerheads.
Exposed Concrete
Budget: Medium
Concrete floors, walls, counters and sinks are popular with celebrity designers and new homebuilders. They offer a minimalistic, contemporary look that goes with any color palette.
Freestanding Tubs
Budget: Medium to High
Freestanding tubs may date to the Roman Empire, but they’re making a stylish comeback. Tuck one into a corner or under a skylight to create a beautiful focal point to relax in.
If you’re interested in remodeling your home or if you want to learn more about the latest trends and how your home compares, get in touch for a local market report.
How To Market A Luxury Home In Indianapolis
Due to the limited quantity of both luxury homes and prospective luxury home buyers, marketing a luxury home in Hamilton County can be a challenge. Unlike marketing traditional homes, a luxury home requires that you target a very small, specific section of the home-buying population. Here are some tips and tricks for helping you do just that:
GO STEALTH MODE
Many sellers list their luxury homes in multiple listing service (MLS) databases, in national media listings, and in other very public spaces. However, marketing your luxury home in a private network first can help you attract only the most qualified of buyers. A local luxury real estate pro could help you tap into the most valuable markets and strategies for selling your home.
One idea for building such a network could be to host an event with your real estate agent so your affluent Hamilton County friends and community members can get familiar with the property. Should you decide to take the “stealth” approach to marketing your home, attending country club benefits and charity auctions could also help you build connections with potential buyers and spread the word subtly.
MAKE YOUR PROPERTY POP
Even with all of its amazing amenities, a luxury home can still fail to resonate with prospective buyers if it doesn’t have the proper staging and presentation. Curb appeal is essential, so make sure to get your landscaping in order before any prospects come to visit.
The interior of your home should not only be neat and tidy, but your furniture should be strategically arranged to optimize flow and highlight architectural features. If any furniture is damaged or out-of-date, consider renting new, modern furniture for when prospective buyers come to visit. Your trusted local agent can also be a great resource for helping you get everything in order and connecting you with any other professional Indianapolis stagers they recommend.
CONSIDER INCLUDING INCENTIVES
If you really want to see your Indianapolis luxury home move fast, think about including something of value to sweeten the deal. While you probably won’t be willing to throw in a shiny new sports car, adjusting your home sale to include things like artwork, high-end furniture/appliances, or other desirable items could provide the leverage you need for motivating a prospective buyer.
See these other selling tips for Indianapolis real estate, but don’t forget to contact a local realty pro to help you get started off with only the strongest marketing strategy for your luxury home!
Could you use a detached living space?
Today’s homeowners and homebuyers love detached living spaces. These small stand-alone structures located on the property come with all sorts of benefits — from added room for storage and recreation to extra income.
They’re also easy and affordable to design and install. Starting at around $9,600, this additional square footage can deliver serious bang for your buck, as detached areas can serve as:
Private Rental Space: You can offer the unit on a vacation rental site or lease it to a full-time tenant to bring in some extra income year-round.
Individual Living Quarters: These separate units are perfect for multigenerational families. They can be used by college kids home for summer or elderly parents who need assistance but want privacy. They’re also ideal guest rooms for family and friends coming to visit.
Quiet Home Office: Private, quiet and separated from all the hustle and bustle of the main house, detached units make highly functional home offices for the self-employed entrepreneur or side hustler.
Creative or Leisure Room: Need somewhere to escape and relax? These units are your solution. Personalize them with an art studio, a cozy reading nook, a yoga space or whatever else helps you wind down.
Fun Kids’ Playroom: Give the kids a space of their own with a toy-filled playroom in the backyard. They’re perfect for late-night slumber parties and playing video games with friends.
If you’re interested in building a detached living space on your property, get in touch today for recommendations for local contractors and designers. Remember to also look into any municipal or HOA restrictions, as you may need permits before starting your build-out.
Want to learn more about the market’s latest real estate trends and how your house compares? Get in touch today.
Preparing To Sell
Selling your home doesn′t just mean hiring a realtor to stick a sign out front. There are a lot of preparations you should make to ensure you get the best offer possible in the shortest time.
Repair. Just because you’ve gotten used to the cracks in the walls and the rattles in the radiators doesn’t mean a buyer will too. If you have hardwood floors that need refinishing, be sure to get it done—hardwood is a huge selling point. Buyers like to snoop around, so be sure to fix any sticky doors or drawers as well. Finally, don’t forget to address any issues with the exterior—fences, shingles, sidewalks, etc. After all, without curb appeal, some buyers may never get to see the inside.
Neutralize. You want buyers to see themselves in your home. If your living room has lime green shag, wood-paneled walls, and all your collectibles and personal photographs, this will be much harder for them to do. Try replacing any bold color choices in your floors and walls with something more neutral—beiges, tans, and whites. Repainting and reflooring will make everything look fresh and new, and help prospective buyers imagine all the possibilities.
Stage. Once your house is clean and updated, it’s time to play dress up. Home stagers can add small details and décor touches that will bring out the possibilities in the various spaces in your home: lamps, mirrors, throw rugs and pillows, flowers, decorative soaps and towels, patio furniture. Home staging can be particularly useful if your home is especially old or if the exterior looks dated. Think of it as a little mascara and rouge—if it’s done right, you notice the beauty, not the makeup.