Finance Real Estate Upgrades with an Idaho Private Money Loan
As the population continues to age, more and more individuals are choosing to age in place, preferring to remain in their own homes rather than move to assisted living facilities or nursing homes.
Real estate investors are recognizing this growing trend and taking steps to renovate investment properties with the needs of older adults in mind. By incorporating smart age-in-place renovations, you can create a safe and comfortable environment that will allow potential buyers to remain in their homes for years to come.
Here are five age-in-place renovations that cater to the unique needs of older buyers.
Helpful Property Upgrades for Aging in Place
- Accessible bathrooms: The bathroom is where slips and falls commonly occur. Install grab bars near toilets, bathtubs, and showers to provide stability and support. Replace traditional bathtubs with step-in showers with built-in benches and non-slip flooring to eliminate tripping hazards. Raising the toilet height and installing lever-style faucets can make daily activities easier and greatly enhance convenience and cleanliness.
- Kitchen modifications: The kitchen is the heart of any home, and with some thoughtful upgrades, it can become a safe and functional space for older adults. Lower cabinets to an accessible height and install pull-out shelves and storage to eliminate the need for excessive reaching and bending. Install lever-style handles on cabinets and faucets to enhance usability. Incorporate smart appliances with voice activation or touch controls to provide convenience and simplify tasks for aging homeowners.
- Lighting enhancements: Good lighting is essential for people of all ages but is even more critical for older adults as their vision often declines with age. Install motion-sensor lights in hallways and staircases, as well as task lighting in key areas such as kitchens and bathrooms. Replace traditional light switches with illuminated or smart switches that can be controlled remotely to improve accessibility.
- Entryway enhancement: Creating a safe and accessible entryway is crucial for aging homeowners. Upgrade stair treads and install ramps to make it easier for individuals with mobility challenges to enter and exit the home. Add handrails along outdoor steps and ensure pathways are free of tripping hazards like loose pavers or uneven surfaces. Keyless entry systems or smart locks with a remote control option allow for easy and secure access without the need for physical keys.
- Technology integration: Smart home technology has revolutionized the way we live and can greatly enhance the aging-in-place experience. Integrate technology such as voice-activated assistants, automated thermostats, and home security systems with remote monitoring to provide convenience, comfort, and peace of mind for older adults. Wearable devices and smart home sensors can help monitor health conditions and detect emergencies, allowing for prompt medical assistance.
These upgrades can significantly improve quality of life for aging homeowners. Many can be seamlessly integrated into any home renovation and find appeal with buyers of all ages. Consider investing in renovations that will benefit a broad cross-section of buyers when planning your next investment project – and increase your potential ROI.
Need Renovation Financing? Talk to Our Trusted Idaho Private Lenders.
When you’re ready for upgrades to your real estate investment property, our team of experienced private money lenders is here to help. We partner with investors throughout Idaho to provide fast, flexible direct financing. Because our direct, private loans are based on your available collateral, we provide you with the money you need faster than a traditional lender. Credit and employment history are secondary. Interested? Call Gregory M. Russell at 1-888-477-0444 or complete our online loan request form and get the financing you need quickly and easily.