The real estate market continues it’s upward crawl amid new housing developments, a coming election, and a constantly evolving workforce. Read on for five consideration that could affect your investments going forward.
Millennials are having families and baby boomers are retiring, with more free time and money than ever before. With these large shifts, we’re seeing a demand for suburbs that offer the aesthetic and entertainment appeal of urban areas. Walk-able storefronts, easily accessible parks, and good public transportation are all on the must-have list for these new suburban families.
OFFICES OF THE FUTURE
New studies on best work practices, a whole new generation of workers, and modern thoughts about work/life balance all influence this new type of office. On one hand, open plan offices allow for more collaboration and a social workplace that fosters teamwork. Developments like standing desks or onsite gyms aim to make office days healthier. On the other hand, telecommuting is changing what is actually needed for brick and mortar offices, allowing whole companies to be run remotely and without the need for large facilities.
HOME SWEET HOME
The housing market has seen improvement since 2008, that we cannot argue. But changing demographics and household preferences mean that home ownership is not a feasible plan for many adults. Single family homes are still very much the ultimate dream, but apartments, condos, and duplexes remain the most in-demand.
Many cities are overhauling mass transit systems and raising awareness for climate change, but cars are still necessary and popular. It’s often a deciding factor in changing jobs or apartments, and will make or break a business if it’s not sufficient. Cars are usually a person’s second largest investment – take car of that and tenants will love you forever.
Technology has made so much possible we had never expected. You probably have a good handle on the various connective powers of the internet and how to utilize it for your business. Remember that some situations are better served by human contact. Personal attention will get you nothing but good things and you never know what new business opportunities it’ll produce.
What do you think will affect your investments this year? Comment with your predictions and see what other are thinking.