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Real Estate News.

How Seniors Can Craft Homes for Independence and Comfort
Image by Freepik Written By: Teresa Greenhill | [email protected] Crafting a home that nurtures safety, comfort, and independence becomes essential as you age. The desire for autonomy grows stronger with time, prompting intentional enhancements that transform your living space into a supportive haven. Choosing elements that cater to accessibility and ease fosters an environment that respects this stage of life. Thoughtful adjustments to design and placement guide this pursuit, ensuring a home that upholds dignity and simplicity throughout the years. Optimal Single-Level Living Choosing a single-level home can be a game-changer for aging individuals. By eliminating the need for stairs, you significantly reduce the risk of falls, which are a major concern as mobility decreases with age. Research highlights that fall prevention is crucial, and a single-floor layout is a practical solution. Besides enhancing safety, this design simplifies daily routines by minimizing physical exertion. Considering Assisted Living Alternatives If maintaining independence becomes increasingly difficult, assisted living might be a suitable alternative. This option provides essential support with daily activities, ensuring safety while promoting social interactions and community engagement. When exploring facilities, look online for detailed reports, pricing information, and reviews from other families to make an informed decision that aligns with your health and social needs. Strategic Proximity to Medical Help Living close to emergency medical services is vital as you age, given the increased likelihood of needing urgent healthcare. Quick access to medical facilities can be a lifesaver, offering peace of mind knowing help is readily available when you need it most. In places like Florida, for example, aging homebuyers often prioritize medical readiness when selecting their homes. Ensuring your new residence is near such services can significantly enhance your safety and well-being. Unlocking Mobility with Public Transportation As driving becomes less feasible, being near public transportation options like buses and trains can greatly enhance your mobility. Public transit offers a practical and cost-effective alternative to car ownership, allowing you to maintain your independence without the stress of driving. This accessibility is essential, especially if you plan on aging in place, as it connects you to vital services and community amenities. Green Savings with Energy Efficiency Investing in energy-efficient upgrades can lead to substantial savings on heating and cooling expenses, which is a significant consideration for long-term financial planning. High-performance insulation and windows can reduce your utility bills and might even qualify you for federal tax credits. These improvements not only lower costs but also contribute to a more sustainable living environment. Illuminating Well-being with Smart Lighting Integrating smart lighting systems into your home can greatly benefit your mental and physical health. These lights can be programmed to adjust throughout the day, supporting your natural circadian rhythms. This feature is particularly beneficial for maintaining healthy sleep patterns, promoting alertness during the day and relaxation at night. Additionally, smart lighting can be easily controlled through voice commands or motion sensors, making it ideal for those with mobility or vision challenges. Staying Connected with Family Accessibility Choosing a new home that’s conveniently located near family members can significantly enhance your lifestyle as you age. Frequent visits become easier if your home is accessible via major transportation routes or public transport options. Moreover, living in a community that supports mobility and inclusivity can enrich your overall experience, fostering closer family bonds and creating lasting memories. Consider working with pros like VR Real Estate Team to help you find the best property. The journey of aging in place merges the desire for independence with meaningful life choices. Each choice, from simplifying daily routines to ensuring easy access to essential services, shapes a life marked by comfort and dignity. This approach is more than creating a safe space; it honors the history embedded in a cherished home while embracing new moments. Prioritizing these elements transforms a living space into a nurturing environment that enhances well-being and vitality. Discover your dream home with the VR Real Estate Team, where cutting-edge virtual reality tours and expert negotiators make your property search seamless and rewarding!
VR1
December 29, 2024

Is that house you’re considering a flip? Here’s what to know
 Written by Zach Wichter Dec. 10, 20213 min read  Edited By Bill McGuire At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Not all houses are created equal. In any given price range, every property you’re going to look at will have its pros and cons. This applies even more so if you’re considering a home that was recently renovated by a flipper. You certainly don’t need to avoid properties that are being flipped, but there are some things to watch out for if you’re looking at one. What is house flipping? House flipping is hardly new — in fact, Bankrate wrote a whole guide on how to do it a few years ago. But as real estate prices skyrocketed over the last 12-18 months, many people saw an opportunity to earn a quick buck by buying property, fixing it up, and reselling as the market pushed the value ever higher. Experts warn that flipped houses can sometimes be more trouble for the post-flip buyers, however, especially at lower price points. “There’s always been an issue with fix and flips with the quality of them,” said Stephanie Fix, a Realtor with RE/MAX Professionals in Denver. “The margins are so slim these days with these investors that they’re really cutting a lot of corners.” That reality came to the forefront recently as Zillow exited the home flip market. The online real estate giant made a big push to boost its iBuying platform in the last year, but ultimately decided it overpaid for too many properties and went into loss-cutting mode. Flip warning signs to watch out for Fix said that a shoddy flip isn’t always obvious, but finishes that seem off can sometimes point to bigger construction quality problems. She said she recently toured a house that she could tell was flipped because a kitchen drawer was blocked by the refrigerator and the dishwasher wasn’t installed properly. “If those things are missing, cosmetic, on the surface that I mentioned, that tells me to be wary of what’s behind the walls,” Fix said. “Most of the things that are dangerous, you can’t always see with your eyes.” Alterations that seem rushed on the surface could indicate bigger problems, like electrical work that isn’t up to code or plumbing that wasn’t installed correctly. Addressing issues like that can become costly, especially if you haven’t factored them into your budget. What to do if you’re buying a flipped house It’s crucial to work with a knowledgeable Realtor if you’re considering a house that’s being flipped, Fix said. “An experienced agent is probably going to have a better eye than the buyer,” she said When she tours a house that she suspects is being flipped, she’ll check the title’s chain of custody to see who owned the home previously, and will reach out to other agents in her network to see if anyone has experience buying from the flippers. You can easily tell if the home is a flip by looking at the property records. If the home is back on the market just a few months after being purchased by a new owner, odds are it’s a flip. At the height of the pandemic real estate boom, many buyers were waiving inspections and other contingencies in their contracts to make their offers more attractive. Fix said that’s an especially bad idea on flipped properties. “These guys typically don’t permit things,” she said, so getting an experienced inspector to go take a thorough look at the property is crucial. “It’s going to be really important to do your sewer and separate roof inspections.” Bottom line Flipped houses may seem up-to-date on the surface, but shiny new finishes can sometimes mask shoddy work. If you’re looking at a property that is being flipped, you’ll want to be sure to get it thoroughly inspected before you close, and set aside money for any problems that may crop up as a result of renovations that were done on a tight budget. Learn more: First-time homebuyer guideHow to find the best real estate agent in your areaJumbo loan resources
VR1
December 10, 2021

Getting Into House Flipping as a Senior
Photo by Pavel Danilyuk from Pexels Running a successful house flipping business requires someone with time on their hands and seniors have plenty of it. If you are looking for something to do after retirement that can give you a decent income, you should consider fixing and flipping houses. You do not have to be a pro to do it although some home improvement skills might give you an edge.  Getting in the house flipping business is a good way to diversify your portfolio and if done right it can provide you financial success in your golden years. VR Apartments shares a few considerations you should make before plunging into the business.  Choosing the right house You have to know which houses to pick. Your choice of house will determine the profitability of your business. There are several factors to consider when choosing the ideal property to flip. These include the neighborhood, nearby amenities, demographic, and school district. Put yourself in the shoes of a buyer and consider what gives the house value.  The best pick should be an up-and-coming neighborhood in a safe street with low crime and is in a nice school district. This kind of house is attractive to professionals and young families, meaning chances of a successful flip are very high.  Work to be done The less work you have to do, the better especially since you are a senior citizen. A fixer-upper may be attractive for its low purchase price but it may prove to be very costly in the long run. Renovations can take a lot of time and cost you a lot of money. Every day spent repairing the house means increased billable hours and loan interest. Avoid houses with foundational and structural issues. Instead choose properties that have a solid build, attractive layout, and character. You should transform the house through cosmetic updates and fixtures. If you have to flip a fixer-upper, you should get the right type of inspection done to give you an idea of the major components that need repair, how long the repairs will take, and how much it will cost. When pricing the major repairs like HVAC upgrades, electrical work, foundation problems, or issues with mold or asbestos, you should add 20% to your estimate      Financing expenses Starting a house-flipping business requires a sizable amount of start-up capital. If you do not have a huge sum stashed away, you will need a loan or an investor. Putting your life savings into a business is not a good idea so taking out a loan or getting an investor are the best ideas. Both have their advantages and drawbacks.  An investor is a business partner who wants you to succeed but this gives you less freedom than you would have operating the business by yourself. A loan on the other hand comes with restrictions. For example, it won’t cover auction purchases which give you access to excellent houses for cheap. Loans also come with steep interest rates and the interest mounts the longer you take to flip a house.  Managing payroll for employees and contractors Since you can’t carry out all the renovations yourself, you will need to delegate duties to professionals. You should find reliable employees and contractors to work with. You will need landscapers, painters, plumbers, general contractors, among other professionals, and you should have an efficient way to manage payroll. Payroll software can help you streamline payments and free up your time to focus on readying your property for sale.   Manage time and budget To run a profitable fix-and-flip business, it is critical that you finish your projects on time and on budget. Before you begin a project, you should estimate the time each contractor should take on a renovation and how much it should cost. Make sure that the project is never at a standstill and that you don’t exceed the budget for any area of the building.  Finally While it may seem like an overwhelming undertaking in retirement, with the right planning, house flipping can be a rewarding venture. 
VR1
September 28, 2021
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VLOG #1
https://www.youtube.com/watch?v=s4Wc_43MSGU Our Founder - Richard Soogrim speaks about developing VR Apartments Inc
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October 29, 2020