#those millennials who buy up all the old house and replace the wood floors with vinyl
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being a lukas child must be horrible cuz not only are you neglected but you have to live in a modern-beige-swedish-prison-dentists-office-core house to.
#those millennials who buy up all the old house and replace the wood floors with vinyl#but it's their family home and they do this every 50 years#the magpod#the magnus archives#tma podcast#tma#peter lukas
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Underground, Part 1
[Author’s Note: A year ago, when waiting for the DC Metro, I came up with an idea for a short story involving two realtors and the infamous Las Vegas Underground House, typed up an outline, and shoved it away in my documents where it sat neglected until this month. The house recently resurfaced on Twitter, and combined with almost a year of quarantine, the story quickly materialized. Though I rarely write fiction, I decided I’d give it a shot as a kind of novelty McMansion Hell post. I’ve peppered the story with photos from the house to break up the walls of text. Hopefully you find it entertaining. I look forward to returning next month with the second installment of this as well as our regularly scheduled McMansion content. Happy New Year!
Warning: there’s lots of swearing in this.]
Underground
Back in 1997, Mathieu Rino, the son of two Finnish mechanical engineers who may or may not have worked intimately with the US State Department, changed his name to Jay Renault in order to sell more houses. It worked wonders.
He gets out of the car, shuts the door harder than he should. Renault wrinkles his nose. It’s a miserable Las Vegas afternoon - a sizzling, dry heat pools in ripples above the asphalt. The desert is a place that is full of interesting and diverse forms of life, but Jay’s the kind of American who sees it all as empty square-footage. He frowns at the dirt dusting up his alligator-skin loafers but then remembers that every lot, after all, has potential. Renault wipes the sweat from his leathery face, slicks back his stringy blond hair and adjusts the aviators on the bridge of his nose. The Breitling diving watch crowding his wrist looks especially big in the afternoon glare. He glances at it.
“Shit,” he says. The door on the other side of the car closes, as though in response.
If Jay Renault is the consummate rich, out-of-touch Gen-Xer trying to sell houses to other rich, out-of-touch Gen-Xers, then Robert Little is his millennial counterpart. Both are very good at their jobs. Robert adjusts his tie in the reflection of the Porsche window, purses his lips. He’s Vegas-showman attractive, with dark hair, a decent tan, and a too-bright smile - the kind of attractive that ruins marriages but makes for an excellent divorcee. Mildly sleazy.
“Help me with these platters, will you?” Renault gestures, popping the trunk. Robert does not want to sweat too much before an open house, but he obliges anyway. They’re both wearing suits. The heat is unbearable. A spread of charcuterie in one hand, Jay double-checks his pockets for the house keys, presses the button that locks his car.
Both men sigh, and their eyes slowly trail up to the little stucco house sitting smack dab in the center of an enormous lot, a sea of gravel punctuated by a few sickly palms. The house has the distinct appearance of being made of cardboard, ticky-tacky, a show prop. Burnt orange awnings don its narrow windows, which somehow makes it look even more fake.
“Here we go again,” Jay mutters, fishing the keys out of his pocket. He jiggles them until the splintered plywood door opens with a croak, revealing a dark and drab interior – dusty, even though the cleaners were here yesterday. Robert kicks the door shut with his foot behind him.
“Christ,” he swears, eyes trailing over the terrible ecru sponge paint adorning the walls. “This shit is so bleak.”
The surface-level house is mostly empty. There’s nothing for them to see or attend to there, and so the men step through a narrow hallway at the end of which is an elevator. They could take the stairs, but don’t want to risk it with the platters. After all, they were quite expensive. Renault elbows the button and the doors part.
“Let’s just get this over with,” he says as they step inside. The fluorescent lights above them buzz something awful. A cheery metal sign welcomes them to “Tex’s Hideaway.” Beneath it is an eldritch image of a cave, foreboding. Robert’s stomach’s in knots. Ever since the company assigned him to this property, he’s been terrified of it. He tells himself that the house is, in fact, creepy, that it is completely normal for him to be ill at ease. The elevator’s ding is harsh and mechanical. They step out. Jay flips a switch and the basement is flooded with eerie light.
It’s famous, this house - The Las Vegas Underground House. The two realtors refer to it simply as “the bunker.” Built by an eccentric millionaire at the height of Cold War hysteria, it’s six-thousand square feet of paranoid, aspirational fantasy. The first thing anyone notices is the carpet – too-green, meant to resemble grass, sprawling out lawn-like, bookmarked by fake trees, each a front for a steel beam. Nothing can grow here. It imitates life, unable to sustain it. The leaves of the ficuses seem particularly plastic.
Bistro sets scatter the ‘yard’ (if one can call it that), and there’s plenty of outdoor activities – a parquet dance floor complete with pole and disco ball, a putt putt course, an outdoor grill made to look like it’s nestled in a rock, but in reality better resembles a baked potato. The pool and hot tub, both sculpted in concrete and fiberglass mimicking a natural rock formation, are less Playboy grotto and more Fred Flintstone. It’s a very seventies idea of fun.
Then, of course, there’s the house. That fucking house.
A house built underground in 1978 was always meant to be a mansard – the mansard roof was a historical inevitability. The only other option was International Style modernism, but the millionaire and his wife were red-blooded anti-Communists. Hence, the mansard. Robert thinks the house looks like a fast-food restaurant. Jay thinks it looks like a lawn and tennis club he once attended as a child where he took badminton lessons from a swarthy Czech man named Jan. It’s drab and squat, made more open by big floor-to-ceiling windows nestled under fresh-looking cedar shingles. There’s no weather down here to shrivel them up.
“Shall we?” Jay drawls. The two make their way into the kitchen and set the platters down on the white tile countertop. Robert leans up against the island, careful of the oversized hood looming over the electric stovetop. He eyes the white cabinets, accented with Barbie pink trim. The matching linoleum floor squeaks under his Italian loafers.
“I don’t understand why we bother doing this,” Robert complains. “Nobody’s seriously going to buy this shit, and the company’s out a hundred bucks for party platters.”
“It’s the same every time,” Renault agrees. “The only people who show up are Instagram kids and the crazies - you know, the same kind of freaks who’d pay money to see Chernobyl.”
“Dark tourism, they call it.”
Jay checks his watch again. Being in here makes him nervous.
“Still an hour until open house,” he mutters. “I wish we could get drunk.”
Robert exhales deeply. He also wishes he could get drunk, but still, a job’s a job.
“I guess we should check to see if everything’s good to go.”
The men head into the living room. The beamed, slanted ceiling gives it a mid-century vibe, but the staging muddles the aura. Jay remembers making the call to the staging company. “Give us your spares,” he told them, “Whatever it is you’re not gonna miss. Nobody’ll ever buy this house anyway.”
The result is eclectic – a mix of office furniture, neo-Tuscan McMansion garb, and stuffy waiting-room lamps, all scattered atop popcorn-butter shag carpeting. Hideous, Robert thinks. Then there’s the ‘entertaining’ room, which is a particular pain in the ass to them, because the carpet was so disgusting, they had to replace it with that fake wood floor just to be able to stand being in there for more than five minutes. There’s a heady stone fireplace on one wall, the kind they don’t make anymore, a hearth. Next to it, equally hedonistic, a full bar. Through some doors, a red-painted room with a pool table and paintings of girls in fedoras on the wall. It’s all so cheap, really. Jay pulls out a folded piece of paper out of his jacket pocket along with a pen. He ticks some boxes and moves on.
The dining room’s the worst to Robert. Somehow the ugly floral pattern on the curtains stretches up in bloomer-like into a frilly cornice, carried through to the wallpaper and the ceiling, inescapable, suffocating. It smells like mothballs and old fabric. The whole house smells like that.
The master bedroom’s the most normal – if anything in this house could be called normal. Mismatched art and staging furniture crowd blank walls. When someone comes into a house, Jay told Robert all those years ago, they should be able to picture themselves living in it. That’s the goal of staging.
There’s two more bedrooms. The men go through them quickly. The first isn’t so bad – claustrophobic, but acceptable – but the saccharine pink tuille wallpaper of the second gives Renault a sympathetic toothache. The pair return to the kitchen to wait.
Both men are itching to check their phones, but there’s no point – there’s no signal in here, none whatsoever. Renault, cynical to the core, thinks about marketing the house to the anti-5G people. It’s unsettlingly quiet. The two men have no choice but to entertain themselves the old-fashioned way, through small talk.
“It’s really fucked up, when you think about it,” Renault muses.
“What is?”
“The house, Bob.”
Robert hates being called Bob. He’s told Jay that hundreds of times, and yet…
“Yeah,” Robert mutters, annoyed.
“No, really. Like, imagine. You’re rich, you founded a major multinational company marketing hairbrushes to stay-at-home moms, and what do you decide to do with your money? Move to Vegas and build a fucking bunker. Like, imagine thinking the end of the world is just around the corner, forcing your poor wife to live there for ten, fifteen years, and then dying, a paranoid old man.” Renault finds the whole thing rather poetic.
“The Russkies really got to poor ol’ Henderson, didn’t they?” Robert snickers.
“The wife’s more tragic if you ask me,” Renault drawls. “The second that batshit old coot died, she called a guy to build a front house on top of this one, since she already owned the lot. Poor woman probably hadn’t seen sunlight in God knows how long.”
“Surely they had to get groceries.”
Jay frowns. Robert has no sense of drama, he thinks. Bad trait for a realtor.
“Still,” he murmurs. “It’s sad.”
“I would have gotten a divorce, if I were her,” the younger man says, as though it were obvious. It’s Jay’s turn to laugh.
“I’ve had three of those, and trust me, it’s not as easy as you think.”
“You’re seeing some new girl now, aren’t you?” Robert doesn’t really care, he just knows Jay likes to talk about himself, and talking fills the time.
“Yeah. Casino girl. Twenty-six.”
“And how old are you again?”
“None of your business.”
“Did you see the renderings I emailed to you?” Robert asks briskly, not wanting to discuss Jay’s sex life any further.
“What renderings?”
“Of this house, what it could look like.”
“Oh. Yeah.” Jay has not seen the renderings.
“If it were rezoned,” Robert continues, feeling very smart, “It could be a tourist attraction - put a nice visitor’s center on the lot, make it sleek and modern. Sell trinkets. It’s a nice parcel, close to the Strip - some clever investor could make it into a Museum of Ice Cream-type thing, you know?”
“Museum of Ice Cream?”
“In New York. It’s, not, like, educational or anything. Really, it’s just a bunch of colorful rooms where kids come to take pictures of themselves.”
“Instagram,” Jay mutters. “You know, I just sold a penthouse the other week to an Instagram influencer. Takes pictures of herself on the beach to sell face cream or some shit. Eight-point-two million dollars.”
“Jesus,” Robert whistles. “Fat commission.”
“You’re telling me. My oldest daughter turns sixteen this year. She’s getting a Mazda for Christmas.”
“You ever see that show, My Super Sweet Sixteen? On MTV? Where rich kids got, like, rappers to perform at their birthday parties? Every time at the end, some guy would pull up in, like, an Escalade with a big pink bow on it and all the kids would scream.”
“Sounds stupid,” Jay says.
“It was stupid.”
It’s Robert’s turn to check his watch, a dainty gold Rolex.
“Fuck, still thirty minutes.”
“Time really does stand still in here, doesn’t it?” Jay remarks.
“We should have left the office a little later,” Robert complains. “The charcuterie is going to get –“
A deafening sound roars through the house and a violent, explosive tremor throws both men on the ground, shakes the walls and everything between them. The power’s out for a few seconds before there’s a flicker, and light fills the room again. Two backup generators, reads Jay’s description in the listing - an appeal to the prepper demographic, which trends higher in income than non-preppers. For a moment, the only things either are conscious of are the harsh flourescent lighting and the ringing in their ears. Time slows, everything seems muted and too bright. Robert rubs the side of his face, pulls back his hand and sees blood.
“Christ,” he chokes out. “What the hell was that?”
“I don’t know,” Jay breathes, looking at his hands, trying to determine if he’s got a concussion. The results are inconclusive – everything’s slow and fuzzy, but after a moment, he thinks it might just be shock.
“It sounded like a fucking 747 just nosedived on top of us.”
“Yeah, Jesus.” Jay’s still staring at his fingers in a daze. “You okay?”
“I think so,” Robert grumbles. Jay gives him a cursory examination.
“Nothing that needs stitches,” he reports bluntly. Robert’s relieved. His face sells a lot of houses to a lot of lonely women and a few lonely men. There’s a muffled whine, which the two men soon recognize as a throng of sirens. Both of them try to calm the panic rising in their chests, to no avail.
“Whatever the fuck happened,” Jay says, trying to make light of the situation, “At least we’re in here. The bunker.”
Fear forms in the whites of Robert’s eyes.
“What if we’re stuck in here,” he whispers, afraid to speak such a thing into the world. The fear spreads to his companion.
“Try the elevator,” Jay urges, and Robert gets up, wobbles a little as his head sorts itself out, and leaves. A moment later, Jay hears him swear a blue streak, and from the kitchen window, sees him standing before the closed metal doors, staring at his feet. His pulse racing, Renault jogs out to see for himself.
“It’s dead,” Robert murmurs.
“Whatever happened,” Jay says cautiously, rubbing the back of his still-sore neck, “It must have been pretty bad. Like, I don’t think we should go up yet. Besides, surely the office knows we’re still down here.”
“Right, right,” the younger man breathes, trying to reassure himself.
“Let’s just wait it out. I’m sure everything’s fine.” The way Jay says it does not make Robert feel any better.
“Okay,” the younger man grumbles. “I’m getting a fucking drink, though.”
“Yeah, Jesus. That’s the best idea you’ve had all day.” Renault shoves his hands in his suit pocket to keep them from trembling.
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Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!)
A few months ago, my partner and I sold our Co-Op apartment in New York and bought a house to give our dogs a better life. Some of our friends thought we were a little crazy, but it turns out we weren’t alone! A new study shows that dogs are more important than marriage and kids to millennial home buyers. Let’s look at the stats when it comes to buying a home for your dog and how to help your dog adjust to your new home.
Buying a home for your dog? Here’s what to know! Photography by Shutterstock.
A New Study Shows That One-Third of Millennials Buy Homes with Their Dogs in Mind
The new study from SunTrust Mortgage explored what factors contributed to millennials aged 18-36 purchasing homes. One-third (33%) of millennial homeowners said that wanting to provide their dogs with more space — such as yards for dogs — was the driving reason behind purchasing a home. In this study, dogs ranked among the top three motivators for millennial home buyers, and were cited more frequently than current or impending marriage and children.
Only 25 percent of those surveyed were looking to purchase a home because of marriage, and just 19 percent said they were buying because of the birth of a child. The SunTrust Mortgage study also found that among millennials who had not yet purchased a first home, 42 percent say that their dog, or the desire add a dog to their family, was the key factor in planning to purchase a house in the future!
Statistics show that more millennials are buying homes for their dogs. Infographic courtesy SunTrust Mortgage.
3 Pro Tips for Helping Your Dog Adjust to a New Home
Austin-based veterinarian Dr. Hunter Bowen has expert advice for dog parents who are purchasing a home:
Establish Familiar Places in Your House
Anything that keeps the new house similar to the old house will help your dog transition. Dogs like routine, so even small things like putting the water and food bowls in the same place in relation to the crate will help your dog feel secure. Keep the dog bed/crate in the same space, too. If your dog’s bed was in your old home’s kitchen, place it in your new home’s kitchen.
Don’t Change Your Routinely Too Drastically
Factors like different commute times may throw off feeding and walking times but try to keep things as close to your old schedule as possible. Also, it’s tempting to buy all new stuff for a new house, but let your dog get used to the new home before replacing toys, beds, bowls and leashes. Remember: never be too rigid with routines or it could create even more anxiety for your dog!
Hire a Dog Sitter for Moving Day
The most stressful part of the move is the hustle and bustle of the packing boxes and loading the truck. This is a great time to board your dog or send him to grandma/a friend. Bring your dog to the new house once all is calm!
More Tips on Getting Your Dog to Love Your New Home
Take your dog to the new home several times before you move in. Bring familiar toys and bedding to help your dog instantly feel at home.
Get new ID tags that include the new address. Update your dog’s contact information with the microchip company as well!
Purchasing a new house or renovating a fixer-upper? Talk with the builder and your real estate agent about avoiding materials that are toxic to your dog.
Moving is stressful and might cause some behavioral backslides. Dogs who are fully housebroken may have accidents, or display other behaviors like marking in the new home. Moving to a new home is a great time to brush up on your foundation training. Go back to basics, reward your dog for going potty outside like you would a young puppy or sign up for a refresher course with a local trainer.
What Dog Owners Should Keep in Mind When House Hunting:
Look for a dog park or open spaces, beaches or walking paths near the house.
Check out dog-friendly Home Owner’s Association (HOA) restrictions and other laws (there are places that don’t allow certain breeds or sizes of dogs — be aware these laws can change even after you buy).
A fenced-in yard is a must. If you are purchasing a townhouse or condo, find a fenced-in porch where dog can’t get out between bars or easily jump over. If your new home doesn’t have a solid fence, factor the cost of adding one into your overall home-buying expenses.
Seek out dog-friendly floors — wood, tile and laminate are best. Try to avoid carpet.
Mud rooms are a bonus! It’s helpful to have a place to wipe your dog’s paws before he enters the home — especially on rainy days.
Ensure there’s enough room and storage space for all your dog’s stuff: crates, beds, dishes and more.
Find a bathtub that’s sized properly for your dog, or better yet a dedicated dog wash station!
Thumbnail: Photography by Wavebreakmedia/Thinkstock.
Read more about dogs and your home on Dogster.com:
Tips for Dog Safety During Home Renovations
Moving with Dogs: How to Introduce Your Pup to Your New Home
11 Stylish Ways to Dogify Your Home Décor
Sassafras Lowrey is an award-winning author. Her novels have been honored by organizations ranging from the Lambda Literary Foundation to the American Library Association. Sassafras is a Certified Trick Dog Trainer, and assists with dog agility classes. Sassafras lives and writes in Brooklyn with her partner, a senior Chihuahua mix, a rescued Shepherd mix and a Newfoundland puppy, along with two bossy cats and a semi-feral kitten. Learn more at sassafraslowrey.com.
The post Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!) appeared first on Dogster.
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Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!)
A few months ago, my partner and I sold our Co-Op apartment in New York and bought a house to give our dogs a better life. Some of our friends thought we were a little crazy, but it turns out we weren’t alone! A new study shows that dogs are more important than marriage and kids to millennial home buyers. Let’s look at the stats when it comes to buying a home for your dog and how to help your dog adjust to your new home.
Buying a home for your dog? Here’s what to know! Photography by Shutterstock.
A New Study Shows That One-Third of Millennials Buy Homes with Their Dogs in Mind
The new study from SunTrust Mortgage explored what factors contributed to millennials aged 18-36 purchasing homes. One-third (33%) of millennial homeowners said that wanting to provide their dogs with more space — such as yards for dogs — was the driving reason behind purchasing a home. In this study, dogs ranked among the top three motivators for millennial home buyers, and were cited more frequently than current or impending marriage and children.
Only 25 percent of those surveyed were looking to purchase a home because of marriage, and just 19 percent said they were buying because of the birth of a child. The SunTrust Mortgage study also found that among millennials who had not yet purchased a first home, 42 percent say that their dog, or the desire add a dog to their family, was the key factor in planning to purchase a house in the future!
Statistics show that more millennials are buying homes for their dogs. Infographic courtesy SunTrust Mortgage.
3 Pro Tips for Helping Your Dog Adjust to a New Home
Austin-based veterinarian Dr. Hunter Bowen has expert advice for dog parents who are purchasing a home:
Establish Familiar Places in Your House
Anything that keeps the new house similar to the old house will help your dog transition. Dogs like routine, so even small things like putting the water and food bowls in the same place in relation to the crate will help your dog feel secure. Keep the dog bed/crate in the same space, too. If your dog’s bed was in your old home’s kitchen, place it in your new home’s kitchen.
Don’t Change Your Routinely Too Drastically
Factors like different commute times may throw off feeding and walking times but try to keep things as close to your old schedule as possible. Also, it’s tempting to buy all new stuff for a new house, but let your dog get used to the new home before replacing toys, beds, bowls and leashes. Remember: never be too rigid with routines or it could create even more anxiety for your dog!
Hire a Dog Sitter for Moving Day
The most stressful part of the move is the hustle and bustle of the packing boxes and loading the truck. This is a great time to board your dog or send him to grandma/a friend. Bring your dog to the new house once all is calm!
More Tips on Getting Your Dog to Love Your New Home
Take your dog to the new home several times before you move in. Bring familiar toys and bedding to help your dog instantly feel at home.
Get new ID tags that include the new address. Update your dog’s contact information with the microchip company as well!
Purchasing a new house or renovating a fixer-upper? Talk with the builder and your real estate agent about avoiding materials that are toxic to your dog.
Moving is stressful and might cause some behavioral backslides. Dogs who are fully housebroken may have accidents, or display other behaviors like marking in the new home. Moving to a new home is a great time to brush up on your foundation training. Go back to basics, reward your dog for going potty outside like you would a young puppy or sign up for a refresher course with a local trainer.
What Dog Owners Should Keep in Mind When House Hunting:
Look for a dog park or open spaces, beaches or walking paths near the house.
Check out dog-friendly Home Owner’s Association (HOA) restrictions and other laws (there are places that don’t allow certain breeds or sizes of dogs — be aware these laws can change even after you buy).
A fenced-in yard is a must. If you are purchasing a townhouse or condo, find a fenced-in porch where dog can’t get out between bars or easily jump over. If your new home doesn’t have a solid fence, factor the cost of adding one into your overall home-buying expenses.
Seek out dog-friendly floors — wood, tile and laminate are best. Try to avoid carpet.
Mud rooms are a bonus! It’s helpful to have a place to wipe your dog’s paws before he enters the home — especially on rainy days.
Ensure there’s enough room and storage space for all your dog’s stuff: crates, beds, dishes and more.
Find a bathtub that’s sized properly for your dog, or better yet a dedicated dog wash station!
Thumbnail: Photography by Wavebreakmedia/Thinkstock.
Read more about dogs and your home on Dogster.com:
Tips for Dog Safety During Home Renovations
Moving with Dogs: How to Introduce Your Pup to Your New Home
11 Stylish Ways to Dogify Your Home Décor
Sassafras Lowrey is an award-winning author. Her novels have been honored by organizations ranging from the Lambda Literary Foundation to the American Library Association. Sassafras is a Certified Trick Dog Trainer, and assists with dog agility classes. Sassafras lives and writes in Brooklyn with her partner, a senior Chihuahua mix, a rescued Shepherd mix and a Newfoundland puppy, along with two bossy cats and a semi-feral kitten. Learn more at sassafraslowrey.com.
The post Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!) appeared first on Dogster.
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Text
Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!)
A few months ago, my partner and I sold our Co-Op apartment in New York and bought a house to give our dogs a better life. Some of our friends thought we were a little crazy, but it turns out we weren’t alone! A new study shows that dogs are more important than marriage and kids to millennial home buyers. Let’s look at the stats when it comes to buying a home for your dog and how to help your dog adjust to your new home.
Buying a home for your dog? Here’s what to know! Photography by Shutterstock.
A New Study Shows That One-Third of Millennials Buy Homes with Their Dogs in Mind
The new study from SunTrust Mortgage explored what factors contributed to millennials aged 18-36 purchasing homes. One-third (33%) of millennial homeowners said that wanting to provide their dogs with more space — such as yards for dogs — was the driving reason behind purchasing a home. In this study, dogs ranked among the top three motivators for millennial home buyers, and were cited more frequently than current or impending marriage and children.
Only 25 percent of those surveyed were looking to purchase a home because of marriage, and just 19 percent said they were buying because of the birth of a child. The SunTrust Mortgage study also found that among millennials who had not yet purchased a first home, 42 percent say that their dog, or the desire add a dog to their family, was the key factor in planning to purchase a house in the future!
Statistics show that more millennials are buying homes for their dogs. Infographic courtesy SunTrust Mortgage.
3 Pro Tips for Helping Your Dog Adjust to a New Home
Austin-based veterinarian Dr. Hunter Bowen has expert advice for dog parents who are purchasing a home:
Establish Familiar Places in Your House
Anything that keeps the new house similar to the old house will help your dog transition. Dogs like routine, so even small things like putting the water and food bowls in the same place in relation to the crate will help your dog feel secure. Keep the dog bed/crate in the same space, too. If your dog’s bed was in your old home’s kitchen, place it in your new home’s kitchen.
Don’t Change Your Routinely Too Drastically
Factors like different commute times may throw off feeding and walking times but try to keep things as close to your old schedule as possible. Also, it’s tempting to buy all new stuff for a new house, but let your dog get used to the new home before replacing toys, beds, bowls and leashes. Remember: never be too rigid with routines or it could create even more anxiety for your dog!
Hire a Dog Sitter for Moving Day
The most stressful part of the move is the hustle and bustle of the packing boxes and loading the truck. This is a great time to board your dog or send him to grandma/a friend. Bring your dog to the new house once all is calm!
More Tips on Getting Your Dog to Love Your New Home
Take your dog to the new home several times before you move in. Bring familiar toys and bedding to help your dog instantly feel at home.
Get new ID tags that include the new address. Update your dog’s contact information with the microchip company as well!
Purchasing a new house or renovating a fixer-upper? Talk with the builder and your real estate agent about avoiding materials that are toxic to your dog.
Moving is stressful and might cause some behavioral backslides. Dogs who are fully housebroken may have accidents, or display other behaviors like marking in the new home. Moving to a new home is a great time to brush up on your foundation training. Go back to basics, reward your dog for going potty outside like you would a young puppy or sign up for a refresher course with a local trainer.
What Dog Owners Should Keep in Mind When House Hunting:
Look for a dog park or open spaces, beaches or walking paths near the house.
Check out dog-friendly Home Owner’s Association (HOA) restrictions and other laws (there are places that don’t allow certain breeds or sizes of dogs — be aware these laws can change even after you buy).
A fenced-in yard is a must. If you are purchasing a townhouse or condo, find a fenced-in porch where dog can’t get out between bars or easily jump over. If your new home doesn’t have a solid fence, factor the cost of adding one into your overall home-buying expenses.
Seek out dog-friendly floors — wood, tile and laminate are best. Try to avoid carpet.
Mud rooms are a bonus! It’s helpful to have a place to wipe your dog’s paws before he enters the home — especially on rainy days.
Ensure there’s enough room and storage space for all your dog’s stuff: crates, beds, dishes and more.
Find a bathtub that’s sized properly for your dog, or better yet a dedicated dog wash station!
Thumbnail: Photography by Wavebreakmedia/Thinkstock.
Read more about dogs and your home on Dogster.com:
Tips for Dog Safety During Home Renovations
Moving with Dogs: How to Introduce Your Pup to Your New Home
11 Stylish Ways to Dogify Your Home Décor
Sassafras Lowrey is an award-winning author. Her novels have been honored by organizations ranging from the Lambda Literary Foundation to the American Library Association. Sassafras is a Certified Trick Dog Trainer, and assists with dog agility classes. Sassafras lives and writes in Brooklyn with her partner, a senior Chihuahua mix, a rescued Shepherd mix and a Newfoundland puppy, along with two bossy cats and a semi-feral kitten. Learn more at sassafraslowrey.com.
The post Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!) appeared first on Dogster.
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Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!)
A few months ago, my partner and I sold our Co-Op apartment in New York and bought a house to give our dogs a better life. Some of our friends thought we were a little crazy, but it turns out we weren’t alone! A new study shows that dogs are more important than marriage and kids to millennial home buyers. Let’s look at the stats when it comes to buying a home for your dog and how to help your dog adjust to your new home.
Buying a home for your dog? Here’s what to know! Photography by Shutterstock.
A New Study Shows That One-Third of Millennials Buy Homes with Their Dogs in Mind
The new study from SunTrust Mortgage explored what factors contributed to millennials aged 18-36 purchasing homes. One-third (33%) of millennial homeowners said that wanting to provide their dogs with more space — such as yards for dogs — was the driving reason behind purchasing a home. In this study, dogs ranked among the top three motivators for millennial home buyers, and were cited more frequently than current or impending marriage and children.
Only 25 percent of those surveyed were looking to purchase a home because of marriage, and just 19 percent said they were buying because of the birth of a child. The SunTrust Mortgage study also found that among millennials who had not yet purchased a first home, 42 percent say that their dog, or the desire add a dog to their family, was the key factor in planning to purchase a house in the future!
Statistics show that more millennials are buying homes for their dogs. Infographic courtesy SunTrust Mortgage.
3 Pro Tips for Helping Your Dog Adjust to a New Home
Austin-based veterinarian Dr. Hunter Bowen has expert advice for dog parents who are purchasing a home:
Establish Familiar Places in Your House
Anything that keeps the new house similar to the old house will help your dog transition. Dogs like routine, so even small things like putting the water and food bowls in the same place in relation to the crate will help your dog feel secure. Keep the dog bed/crate in the same space, too. If your dog’s bed was in your old home’s kitchen, place it in your new home’s kitchen.
Don’t Change Your Routinely Too Drastically
Factors like different commute times may throw off feeding and walking times but try to keep things as close to your old schedule as possible. Also, it’s tempting to buy all new stuff for a new house, but let your dog get used to the new home before replacing toys, beds, bowls and leashes. Remember: never be too rigid with routines or it could create even more anxiety for your dog!
Hire a Dog Sitter for Moving Day
The most stressful part of the move is the hustle and bustle of the packing boxes and loading the truck. This is a great time to board your dog or send him to grandma/a friend. Bring your dog to the new house once all is calm!
More Tips on Getting Your Dog to Love Your New Home
Take your dog to the new home several times before you move in. Bring familiar toys and bedding to help your dog instantly feel at home.
Get new ID tags that include the new address. Update your dog’s contact information with the microchip company as well!
Purchasing a new house or renovating a fixer-upper? Talk with the builder and your real estate agent about avoiding materials that are toxic to your dog.
Moving is stressful and might cause some behavioral backslides. Dogs who are fully housebroken may have accidents, or display other behaviors like marking in the new home. Moving to a new home is a great time to brush up on your foundation training. Go back to basics, reward your dog for going potty outside like you would a young puppy or sign up for a refresher course with a local trainer.
What Dog Owners Should Keep in Mind When House Hunting:
Look for a dog park or open spaces, beaches or walking paths near the house.
Check out dog-friendly Home Owner’s Association (HOA) restrictions and other laws (there are places that don’t allow certain breeds or sizes of dogs — be aware these laws can change even after you buy).
A fenced-in yard is a must. If you are purchasing a townhouse or condo, find a fenced-in porch where dog can’t get out between bars or easily jump over. If your new home doesn’t have a solid fence, factor the cost of adding one into your overall home-buying expenses.
Seek out dog-friendly floors — wood, tile and laminate are best. Try to avoid carpet.
Mud rooms are a bonus! It’s helpful to have a place to wipe your dog’s paws before he enters the home — especially on rainy days.
Ensure there’s enough room and storage space for all your dog’s stuff: crates, beds, dishes and more.
Find a bathtub that’s sized properly for your dog, or better yet a dedicated dog wash station!
Thumbnail: Photography by Wavebreakmedia/Thinkstock.
Read more about dogs and your home on Dogster.com:
Tips for Dog Safety During Home Renovations
Moving with Dogs: How to Introduce Your Pup to Your New Home
11 Stylish Ways to Dogify Your Home Décor
Sassafras Lowrey is an award-winning author. Her novels have been honored by organizations ranging from the Lambda Literary Foundation to the American Library Association. Sassafras is a Certified Trick Dog Trainer, and assists with dog agility classes. Sassafras lives and writes in Brooklyn with her partner, a senior Chihuahua mix, a rescued Shepherd mix and a Newfoundland puppy, along with two bossy cats and a semi-feral kitten. Learn more at sassafraslowrey.com.
The post Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!) appeared first on Dogster.
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Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!)
A few months ago, my partner and I sold our Co-Op apartment in New York and bought a house to give our dogs a better life. Some of our friends thought we were a little crazy, but it turns out we weren’t alone! A new study shows that dogs are more important than marriage and kids to millennial home buyers. Let’s look at the stats when it comes to buying a home for your dog and how to help your dog adjust to your new home.
Buying a home for your dog? Here’s what to know! Photography by Shutterstock.
A New Study Shows That One-Third of Millennials Buy Homes with Their Dogs in Mind
The new study from SunTrust Mortgage explored what factors contributed to millennials aged 18-36 purchasing homes. One-third (33%) of millennial homeowners said that wanting to provide their dogs with more space — such as yards for dogs — was the driving reason behind purchasing a home. In this study, dogs ranked among the top three motivators for millennial home buyers, and were cited more frequently than current or impending marriage and children.
Only 25 percent of those surveyed were looking to purchase a home because of marriage, and just 19 percent said they were buying because of the birth of a child. The SunTrust Mortgage study also found that among millennials who had not yet purchased a first home, 42 percent say that their dog, or the desire add a dog to their family, was the key factor in planning to purchase a house in the future!
Statistics show that more millennials are buying homes for their dogs. Infographic courtesy SunTrust Mortgage.
3 Pro Tips for Helping Your Dog Adjust to a New Home
Austin-based veterinarian Dr. Hunter Bowen has expert advice for dog parents who are purchasing a home:
Establish Familiar Places in Your House
Anything that keeps the new house similar to the old house will help your dog transition. Dogs like routine, so even small things like putting the water and food bowls in the same place in relation to the crate will help your dog feel secure. Keep the dog bed/crate in the same space, too. If your dog’s bed was in your old home’s kitchen, place it in your new home’s kitchen.
Don’t Change Your Routinely Too Drastically
Factors like different commute times may throw off feeding and walking times but try to keep things as close to your old schedule as possible. Also, it’s tempting to buy all new stuff for a new house, but let your dog get used to the new home before replacing toys, beds, bowls and leashes. Remember: never be too rigid with routines or it could create even more anxiety for your dog!
Hire a Dog Sitter for Moving Day
The most stressful part of the move is the hustle and bustle of the packing boxes and loading the truck. This is a great time to board your dog or send him to grandma/a friend. Bring your dog to the new house once all is calm!
More Tips on Getting Your Dog to Love Your New Home
Take your dog to the new home several times before you move in. Bring familiar toys and bedding to help your dog instantly feel at home.
Get new ID tags that include the new address. Update your dog’s contact information with the microchip company as well!
Purchasing a new house or renovating a fixer-upper? Talk with the builder and your real estate agent about avoiding materials that are toxic to your dog.
Moving is stressful and might cause some behavioral backslides. Dogs who are fully housebroken may have accidents, or display other behaviors like marking in the new home. Moving to a new home is a great time to brush up on your foundation training. Go back to basics, reward your dog for going potty outside like you would a young puppy or sign up for a refresher course with a local trainer.
What Dog Owners Should Keep in Mind When House Hunting:
Look for a dog park or open spaces, beaches or walking paths near the house.
Check out dog-friendly Home Owner’s Association (HOA) restrictions and other laws (there are places that don’t allow certain breeds or sizes of dogs — be aware these laws can change even after you buy).
A fenced-in yard is a must. If you are purchasing a townhouse or condo, find a fenced-in porch where dog can’t get out between bars or easily jump over. If your new home doesn’t have a solid fence, factor the cost of adding one into your overall home-buying expenses.
Seek out dog-friendly floors — wood, tile and laminate are best. Try to avoid carpet.
Mud rooms are a bonus! It’s helpful to have a place to wipe your dog’s paws before he enters the home — especially on rainy days.
Ensure there’s enough room and storage space for all your dog’s stuff: crates, beds, dishes and more.
Find a bathtub that’s sized properly for your dog, or better yet a dedicated dog wash station!
Thumbnail: Photography by Wavebreakmedia/Thinkstock.
Read more about dogs and your home on Dogster.com:
Tips for Dog Safety During Home Renovations
Moving with Dogs: How to Introduce Your Pup to Your New Home
11 Stylish Ways to Dogify Your Home Décor
Sassafras Lowrey is an award-winning author. Her novels have been honored by organizations ranging from the Lambda Literary Foundation to the American Library Association. Sassafras is a Certified Trick Dog Trainer, and assists with dog agility classes. Sassafras lives and writes in Brooklyn with her partner, a senior Chihuahua mix, a rescued Shepherd mix and a Newfoundland puppy, along with two bossy cats and a semi-feral kitten. Learn more at sassafraslowrey.com.
The post Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!) appeared first on Dogster.
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Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!)
A few months ago, my partner and I sold our Co-Op apartment in New York and bought a house to give our dogs a better life. Some of our friends thought we were a little crazy, but it turns out we weren’t alone! A new study shows that dogs are more important than marriage and kids to millennial home buyers. Let’s look at the stats when it comes to buying a home for your dog and how to help your dog adjust to your new home.
Buying a home for your dog? Here’s what to know! Photography by Shutterstock.
A New Study Shows That One-Third of Millennials Buy Homes with Their Dogs in Mind
The new study from SunTrust Mortgage explored what factors contributed to millennials aged 18-36 purchasing homes. One-third (33%) of millennial homeowners said that wanting to provide their dogs with more space — such as yards for dogs — was the driving reason behind purchasing a home. In this study, dogs ranked among the top three motivators for millennial home buyers, and were cited more frequently than current or impending marriage and children.
Only 25 percent of those surveyed were looking to purchase a home because of marriage, and just 19 percent said they were buying because of the birth of a child. The SunTrust Mortgage study also found that among millennials who had not yet purchased a first home, 42 percent say that their dog, or the desire add a dog to their family, was the key factor in planning to purchase a house in the future!
Statistics show that more millennials are buying homes for their dogs. Infographic courtesy SunTrust Mortgage.
3 Pro Tips for Helping Your Dog Adjust to a New Home
Austin-based veterinarian Dr. Hunter Bowen has expert advice for dog parents who are purchasing a home:
Establish Familiar Places in Your House
Anything that keeps the new house similar to the old house will help your dog transition. Dogs like routine, so even small things like putting the water and food bowls in the same place in relation to the crate will help your dog feel secure. Keep the dog bed/crate in the same space, too. If your dog’s bed was in your old home’s kitchen, place it in your new home’s kitchen.
Don’t Change Your Routinely Too Drastically
Factors like different commute times may throw off feeding and walking times but try to keep things as close to your old schedule as possible. Also, it’s tempting to buy all new stuff for a new house, but let your dog get used to the new home before replacing toys, beds, bowls and leashes. Remember: never be too rigid with routines or it could create even more anxiety for your dog!
Hire a Dog Sitter for Moving Day
The most stressful part of the move is the hustle and bustle of the packing boxes and loading the truck. This is a great time to board your dog or send him to grandma/a friend. Bring your dog to the new house once all is calm!
More Tips on Getting Your Dog to Love Your New Home
Take your dog to the new home several times before you move in. Bring familiar toys and bedding to help your dog instantly feel at home.
Get new ID tags that include the new address. Update your dog’s contact information with the microchip company as well!
Purchasing a new house or renovating a fixer-upper? Talk with the builder and your real estate agent about avoiding materials that are toxic to your dog.
Moving is stressful and might cause some behavioral backslides. Dogs who are fully housebroken may have accidents, or display other behaviors like marking in the new home. Moving to a new home is a great time to brush up on your foundation training. Go back to basics, reward your dog for going potty outside like you would a young puppy or sign up for a refresher course with a local trainer.
What Dog Owners Should Keep in Mind When House Hunting:
Look for a dog park or open spaces, beaches or walking paths near the house.
Check out dog-friendly Home Owner’s Association (HOA) restrictions and other laws (there are places that don’t allow certain breeds or sizes of dogs — be aware these laws can change even after you buy).
A fenced-in yard is a must. If you are purchasing a townhouse or condo, find a fenced-in porch where dog can’t get out between bars or easily jump over. If your new home doesn’t have a solid fence, factor the cost of adding one into your overall home-buying expenses.
Seek out dog-friendly floors — wood, tile and laminate are best. Try to avoid carpet.
Mud rooms are a bonus! It’s helpful to have a place to wipe your dog’s paws before he enters the home — especially on rainy days.
Ensure there’s enough room and storage space for all your dog’s stuff: crates, beds, dishes and more.
Find a bathtub that’s sized properly for your dog, or better yet a dedicated dog wash station!
Thumbnail: Photography by Wavebreakmedia/Thinkstock.
Read more about dogs and your home on Dogster.com:
Tips for Dog Safety During Home Renovations
Moving with Dogs: How to Introduce Your Pup to Your New Home
11 Stylish Ways to Dogify Your Home Décor
Sassafras Lowrey is an award-winning author. Her novels have been honored by organizations ranging from the Lambda Literary Foundation to the American Library Association. Sassafras is a Certified Trick Dog Trainer, and assists with dog agility classes. Sassafras lives and writes in Brooklyn with her partner, a senior Chihuahua mix, a rescued Shepherd mix and a Newfoundland puppy, along with two bossy cats and a semi-feral kitten. Learn more at sassafraslowrey.com.
The post Buying a Home for Your Dog? You’re Not Alone (Plus, How to Introduce Your Dog to Your New Home!) appeared first on Dogster.
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10 Ways to Entice Homebuyers Under 35
The millennial generation is becoming an increasingly important part of the housing market. According to a 2013 National Association of Realtors study that looked at generational housing trends, millennials (or, Generation Y), those born between 1980 and 2000, are the second biggest segment of the buyer market, behind only Generation X, which covers those born between 1965 and 1979. Together, these two generations represent today's young buyers, and broadly speaking, they tend to fall into one of two categories, says Margie Gundersheim, a Realtor with Keller Williams in Newton, Mass. "They're young professionals who prefer a turnkey home that needs little or no work," says Gundersheim. "(Or they're) creative/romantic buyers who want to invest sweat equity and money over time, and put their personal stamp on the property and add value for the future." But while those two groups may seem like they want entirely different things from a home, many agents say that younger buyers of all stripes have a lot of the same "must-have" features on their lists. Read More From Bankrate: 8 tips to sell an old home to young buyers We all want to buy a home with new kitchen and bath fixtures, but new fixtures are especially important for today's young, budget-conscious buyers, says Jack Curtis, a real estate agent in Dublin, Ohio. "The primary reason younger buyers seek updated kitchens and baths is because they have limited budgets," Curtis says. "Most of their savings will go toward the down payment and furnishings. Kitchens and bathrooms are also the most expensive parts of a home to update, and young homeowners cannot afford to sink a lot of money into those areas." While updated kitchens and bathrooms may bring in a younger crowd, remodeling costs should give a seller pause. After all, if those updates aren't in a young buyer's budget, they probably aren't in a seller's budget either. Unlike a new roof or plumbing, bathroom and kitchen fixtures are also a matter of taste, so not every buyer will like what you pick, according to Curtis. 2. Big kitchen, open floor plan A generation ago, formal dining rooms may have been on every buyer's wish list. But today there really isn't much appeal to the formal dining room, according to Lou Cardillo of The Lou Cardillo Team in Yorktown Heights, N.Y. "The kitchen has become the hangout room along with the family room," says Cardillo. "An open space that can easily transition from kitchen to TV room is high on the list of the perfect home for young buyers. In essence, the kitchen is the new living room." Read More From Bankrate: 4 big money mistakes of first-time homebuyers Along similar lines, Curtis says today's young buyers are also more attracted to an open floor plan, rather than a layout that compartmentalizes the home. Again, the reason has a lot to do with how younger homeowners entertain. "They want people to flow through the home during gatherings, rather than be sectioned off in rooms," Curtis says. More than 13 million Americans work from home, and all signs point to that trend continuing, which makes a home office important for many buyers. "Home offices have vast appeal," says Paige Elliott, a Realtor with Dave Perry-Miller & Associates in Dallas. "Most agents will point out that a room could be used as an office or other flex living space, especially if it is currently used or staged as a bedroom." Home offices aren't just for those who work from home full time, according to Cardillo. Read More From Bankrate: 4 tips for single, female homebuyers "As technology continues to make us more mobile, young buyers have more options than ever to work from home, depending on their job," says Cardillo. "Having a dedicated space is important because it will help keep them focused and concentrated on work while they are at home on a Skype call, planning a presentation, setting up their workday or simply paying bills." Younger buyers tend to see location differently from their parents, who didn't face high gas prices and traffic, says Allison Nichols, an agent with Related Realty in Chicago. "My younger buyers look for properties that are in proximity to public transportation and that have a good walking score," Nichols says. But there are young buyers, and then there are young buyers with children. The former group may prefer to be close to the action of the city, while the latter might prefer something a little more residential. Most young buyers look for homes that are low maintenance, says Cardillo, who points out that low-upkeep features such as wood floors (as opposed to carpet) and granite countertops are seen as positives for this generation because they're both attractive and relatively hassle-free. Cardillo says he sees a generational shift toward a society that's more "disposable," where homeowners prefer to replace rather than repair. "Most young homebuyers grew up watching their parents spend weekends with their honey-do lists, or they had chores to do on the weekends," he says. "Most young buyers are not going to follow in their (parents') footsteps. They don't want to do that stuff. ... They want their weekends to themselves and don't really want to be cleaning gutters or cutting the grass. A generation ago, buyers didn't care about a home's technological capabilities. Either it had cable hookups or it didn't. Today, buyers want to know about the home's technology. They want to hear about cell service and Internet, not cable and telephone. "Most young homebuyers laugh at a landline phone, and even if they buy a house that has a jack, it is rarely used," Cardillo says. In some cases, a house's appeal can be increased or diminished because of the strength of a mobile carrier's signal or its Internet service provider options, Cardillo says. While cell phone and Internet services are out of the seller's hands, Cardillo says sellers or their agents should be prepared to field questions on that front. "Internet and cell service matters a lot to this generation, and they're going to ask, so you need to have answers," he says. With energy cost on the rise and growing interest in protecting the environment, young buyers are conscious of buying homes that are green. They may not be alone, according to Jeff Hyland of Hilton & Hyland real estate agency in Beverly Hills, Calif. "Today, not only younger buyers, but buyers in general, are looking for energy-efficient homes," says Hyland. "And if they are not already set up (for energy efficiency), then the buyers will often factor those costs into their budgets so they can do it after the close of escrow." Before sellers green wash their homes, Elliott offers a caution: "I am not seeing the energy efficiency of a home as a top selling feature that attracts young buyers," she says. "They seem to be savvy on insulation levels, seasonal energy efficiency ratios and other energy-efficiency factors, but (energy efficiency) still isn't the top reason for a home purchase." Oftentimes, Elliott says, young buyers ask about these things and then update them after they close on the house. And in some cases, buyers who make those upgrades themselves do so because of tax credits. Whether we admit it or not, we've all seen at least a few of the home shows on cable networks like TLC and HGTV. But while those shows can be fun and informative, they also do a lot to shape buyer expectations. "Real estate shows on TV have impacted all buyers on the way they look at houses," Elliott says. "But young buyers will often comment on how a house is, or isn't, staged." Either way, staging is a critical part of selling your home, Hyland says. "Staging a home is always helpful as it helps people to feel at home the moment they walk through the door, as opposed to having to imagine what it could look like once they move it," Hyland says. "Buyer expectations are often met, and at times, exceeded by staging a home." Young buyers tend to get caught in a trap when gauging the affordability of condos or town homes, Nichols says. The asking price often fits their limited budgets, but HOA dues and the possibility of large assessments can sink the purchase. "When it comes to condo buildings, my younger buyers are looking for properties with no special assessments," Nichols says. "These can be as high as $10,000, and young or first-time buyers don't necessarily have this in their budget. Likewise, they want to maximize their monthly housing budget by finding a property with low monthly assessments." The possibility of a hefty assessment or high HOA dues deters some young buyers, but a building that's eligible for FHA financing can be attractive, Nichols says. If you're serious about attracting young buyers, you need to think about how your property shows online, Elliott says. "Younger buyers start their searches online," Elliott says. "The home must have professional photography that shows the home in its best light, or they will move on before ever stepping foot in the door." Looking at the data, it's hard to underestimate the importance of a quality online listing. According to the most recent analysis from the NAR, 90 percent of buyers use the Internet to search for homes. By comparison, real estate agents were the second most common resource for finding a home, with 87 percent of buyers citing an agent's help as a key factor. The most telling piece of data may be what happens after buyers see an online listing. According to the NAR, 62 percent of buyers said they walked through a home after viewing the listing online, and 76 percent said they at least drove by the home because of an online ad. Read this story on Bankrate.com. This work is the opinion of the columnist and in no way reflects the opinion of ABC News. http://abcnews.go.com/Business/10-ways-entice-homebuyers-35/story?id=22398046
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Should Young Professionals Rent or Buy?
Should young professionals rent or buy?
Navigating your way through the property market can be difficult. Especially amongst the stamp duty changes, the reality of the housing crisis and the ever growing list of up and coming neighbourhoods. But for the likes of young professionals, there’s the added debate of renting vs buying.
The internet is full of articles on the topic, written by people firmly sat on either side of the argument. In fact, we’ve even published two blogs on the topic in the past. One of which explored the mother lode of anxiety experienced by millennials, where the housing crisis was to blame. Another details why many young professionals aren’t buying anymore.
So, we decided to talk to some professionals. We conducted our own research* and asked, “Should Young Professionals Rent or Buy?”
Here’s what we found out.
Andrew Turner, CEO of Commercial Trust Limited Commercial Trust Limited is a specialist UK broker, who deals with three types of loans: buy-to-let mortgages, commercial mortgages and bridging loans.
When it comes to what is wiser, rental or purchase, in this current housing ‘crisis’, I believe it really comes down to the individual’s financial planning and personal future considerations. The housing market is suffering from a shortage of properties and increasingly higher property prices. However, I believe that buying is still a stronger proposal for young professionals, providing they have no immediate plans to move on. You are buying into your future in that location and although affordability will ultimately be the deciding factor, there are still many properties out there that are reasonably priced for first time buyers.
Lyn Alden, founder of Lyn Alden Investment Strategy Lyn provides market research to individual investors and financial professionals. Her work has been featured on The Street, Federal News Radio, Business Insider, and US News and World Report.
For a typical professional that starts a job in their 20’s, research shows that there’s a more than 4 in 5 chance that they will leave that job within five years. The average worker now changes jobs over 10 times in the course of a career, which is significantly more frequently than in the past and affects people of all ages.
People interested in buying a home in their 20’s or 30’s should seriously consider how a job change might affect their situation. Especially outside of certain cities, a job change in an advanced field may require relocation. For that reason, renting is wiser until you’re confident that you’ll be in the area for a while, and even then, it’s not always the right choice.
One thing to keep in mind is that a home is an investment and should be compared to other investments if you’re considering buying one for that purpose. Putting a down payment onto a home in exchange for lower monthly housing costs and the possibility of appreciation is one way to build wealth gradually, but continuing to rent and putting that same down payment into other investments like equities can result in similar returns over long periods of time.
Timothy G. Wiedman, D.B.A., PHR, SHRM-CP, Associate Prof. of Management & Human Resources In addition to earning two graduate degrees, Timothy has also completed a certification in Financial Planning at Old Dominion University and taught a university course on Personal Finance.
As the cost of rental units continues to rise in many areas of the country while mortgage interest rates remain affordable by historical standards, we often hear that “it’s cheaper to buy than to rent these days.” And while (in many locations) that statement may often be correct, potential first-time buyers should definitely consider the following aspects of becoming a new home-owner.
The Mortgage Deposit Required.According to a September, 2015 article in The Guardian, the median price of an existing home throughout much of the UK (excluding pricey London) was roughly £160,000. And most mortgage lenders generally require a 10% deposit, which works out to £16,000 for an average, median-priced home. So even if a home in a less-expensive area can be located, the deposit will still be a major consideration. In fact, on its website, PricedOut.org.uk states that it can take 12 years for many folks to save enough for that deposit, and they also estimate that 3.5 million taxpayers are effectively priced out of the home-buying market because of unaffordable prices.
Upfront Fees. While these fees can reflect a wide variety of variables, they include items such as solicitors’ fees, valuation reports, Stamp Duties, etc. These costs must be estimated and saved for in addition to the mortgage deposit.
Settling In. Your new home may look absolutely wonderful to you when you make your initial buying decision. But is it actually “move-in” ready? After I took possession of my last home, before even moving in, I replaced all of the carpeting, put in a new kitchen floor, and repainted most of the interior. A few months later, I put on a new roof (after the old one began leaking — the home inspector had told me that the roof was on its last legs, so I wasn’t really surprised). Shortly thereafter, I put vinyl siding over the old wood shingles, installed new gutters, downspouts and soffits, and capped the exterior window trim. Later that year, most of the interior window treatments were replaced, as were the kitchen and bathroom counter tops. Then came a new mahogany front door (with a frosted oval of leaded glass). Get the picture? (And I haven’t even mentioned replacing the 26-year-old furnace a year after that.) If you’d formerly lived in an apartment complex that had a professional maintenance staff, much of this will be an expensive new experience!
Never-Ending Chores. If you don’t own a lawn mower, weed-whacker, hedge trimmer, various lawn & garden implements, a couple of ladders, a 50-foot garden hose, and possibly a leaf blower (depending on where you settle), you’ll start spending some of your “free time” at Argos spending money and making new friends. And you’ll also gradually learn about minor plumbing and electrical repairs — and who to call when you can’t fix it yourself. Maintaining a home is a never-ending series of chores. Some folks enjoy the challenge, but others do not!
How Long Will You Stay? If you’re likely to move after just a few years, buying may not make sense. Check the recent annual appreciation rate of homes in your area. Then consider the fact that in the early years of a mortgage, you’re mostly paying interest — your equity stake doesn’t go up much at all. Further, you’ll also incur moving costs if you relocate. Will your home’s appreciation cover those items? In some locations, it might after just a few years; but think about it up front if there’s some likelihood of a job-transfer in the fairly immediate future. (Sometimes an apartment lease may have an “escape clause” if you get transferred; and even if your lease doesn’t include this provision, many employers will cover the cost of any penalties that you might have to pay your landlord for an early termination of your lease if they ask you to move to another company location. Early in my business career, I was transferred several times. I was strictly a renter back then, and that made each transfer-related move a lot easier.)
If you’re still convinced that buying is cheaper than renting (and can afford everything mentioned above), take the leap. Over time, most homes appreciate; so, in the end, it’s generally not as expensive as it sounds. Further you have to live somewhere; and unless you stay with mom and dad, it won’t be free. I’ve bought and sold several homes and always came out ahead of the game — but I didn’t get rich either!
Andrew Gardiner, CEO and Founder of Property Moose Property Moose is an online property crowdfunding platform that allows individuals to invest in property from just £10.
Ultimately, I believe it comes down to the individual’s circumstances. Buying may seem out of the question unless you have a large amount of capital to begin with, hold expert knowledge of the market and have the energy to manage the property. It’s this exact issue which Property Moose tries to solve. We’ve attempted to simplify, revolutionise and democratise the property market. Through the power of property crowdfunding, all you need is £10 to become a home owner and earn rental income. We hire local expert agents who manage the properties so that you can be a landlord without any of the usual chores. In addition, considering the lower entry point, you could spread your capital across many of our investment opportunities, thereby building a diverse portfolio. Like traditional property investment, your capital is at risk if you invest, however, we select our property’s very carefully in attempt to minimize this risk, though property prices can go up as well as down.
*Correspondence was secured via Help a Reporter Out (HARO) and took place over email.
Written by Jenna Kamal
Disclaimer and Legals
Property Moose does not provide any advice in relation to investments and you must rely on your own due diligence before investing. Please remember that property prices can go down as well as up and that all figures, rates and yields are projections only and should not be relied on. If in doubt, please seek the advice of a financial adviser. Your capital is at risk if you invest. This post has been approved as a financial promotion by Resolution Compliance Limited.
Property Moose is a trading name of Crowd Fin Limited which is an Appointed Representative of Resolution Compliance Limited which is authorised and regulated by the Financial Conduct Authority (no: 574048).
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