It is interesting to see some attention coming to cities which have a high number of seniors as homeowners that are not parts of 55+ communities. There has been speculation, such as the below linked article, that as they pass we will see an impact on home prices. There is a lot to be said for states like Florida and Hawaii having nearly 20% of homes owned by people aged 75 and higher.
Many of the opinions in the article deal with how this could play out a few years from now. There is nothing about the opportunities this “eventual” situation presents right now. I see plenty of opportunities to prepare seniors for succession.
The fact is that many seniors are not able to spend on upgrading their homes. In some cases, they cannot afford maintenance or replacements and let the quality of their home decline. A few years from now, we could wind up with thousands of homes in poor condition which sit in neighborhoods not in need of redevelopment.
There are many viable solutions for seniors to be better prepared for what the future holds. It is safe to say that the majority have no idea about the options they could be putting in place sooner rather than later. Whether involving family members now, doing a sale and leaseback with an investor, or sharing equity in return for work, those who know to present solutions instead of offers will be the ones to gain.
It’s another great opportunity to be “first in” on more real estate deals!
https://www.newsweek.com/why-housing-market-will-flip-in-4-years-11472316
Posts
No comments:
Post a Comment