Long-Term or Short-Term Arizona Homes: What’s Your Priority?

People have their own reasons for purchasing their homes, but you can usually boil down these reasons into two main categories: long-term or short-term plans.

If you are looking to own a home for you and your family to live in, then you would definitely want to look at the long-term properties of a home. If you are simply looking for a home to sell or to occupy for a short time, then you would be most interested in the short-term values of a house and lot.

But what exactly is the difference between long-term and short-term plans for real estate?

Long-Term Plans – Maintenance and Management

There are homeowners that buy a house and lot with the full intent of living in it for a very long period of time. Many such homeowners plan to raise a family in these homes, grow old in them, retire and reside in these houses to their dying day.

If this is what you want in your home, then you have to focus on managing and maintaining the house.

If you are unable to buy your home through straight cash, then the least you can do is find a mortgage plan with steady and predictable interest rates. This allows you to better manage your finances to prevent foreclosure; allowing you to make the most of your home without having to sacrifice it.

You also need to be very specific about maintaining the condition of your home. Having it regularly inspected every five or so years will help you spot any structural and internal problems before they become serious. This will allow you to take preemptive measure to protect your home.

Oh, and don’t forget to pay your taxes. Failure to do so will result in the state seizing your property, so make sure that you put aside some extra money during tax season.

Short-Term Plans – Monitoring and Marketing

If you are looking to profit from real estate, then you will want to monitor the prices of properties as well as market your own property. You will need to maximize the profitability of your home, which means cutting down on expenses while selling at the highest possible price.

This is a bit, trickier than long-term planning, but can prove to be lucrative if you know how to work the market.

For starters, you should look for properties that are being sold for less than their actual value. Foreclosures are still plentiful in the current market, so snap those up as soon as you can.

You also need to keep a sharp eye on the price of nearby properties. Most properties in Arizona tend to rise in value over time, but there are some properties that are more valuable than others. Find these properties and invest in them.

One thing you can do to increase the value of is to make it look great. A little décor, a fresh coat of paint and a new lawn can go a long way in greatly increasing the value of your property. You can even hire professionals to dress up your home if you prefer things that way.

Keep these pointers in mind, and you will be able to reach your goals – whether they are short or long-term ones.

Top 3 Benefits of Luxury Living

Some people scorn living in luxury, but these are the types that can’t afford the life in the first place. The benefits that come with living the high life aren’t to be scoffed at, either. These benefits are real and can significantly affect your private, public and professional lives.

Here are some of the more prominent benefits of luxury living:

Sense of pride and accomplishment
Where you eat, sleep, relax and play is a powerful indicator of what you have done in life. What better way to showcase your own accomplishments than to purchase a high-end home?

Purchasing your own luxury home is one of the most effective ways to reward yourself for your hard work. The accompanying pride that comes with it isn’t too bad, either. Looking at your home after a hard day’s work is a great way to encourage yourself and strive to work harder. Other people that also visit your home will admire it not just because it is beautiful, but because of the work and effort you put into the house. This simple method of self-encouragement is a lot more powerful than most people give it credit for, especially when you lounge back in your den and just relax the night away.

Introduction to higher social circles
Impressing the right people will get you in high places, and owning the right residence is one of the most effective ways to do just that. A classy house on the seven or high six digit scale is definitely an effective way to impress these people.

Holding a dinner, luncheon, party or other social event in your luxurious home will send a powerful message of your financial and social prowess. This might not seem like much to people who do not understand the value of network connections, but you can bet that these connections are as valuable as gold ingots. Getting a favorable impression will open up opportunities that you can use in the future, even if you cannot use them immediately. The important thing here is that you are able to leave a good impression with the house or property you have purchased. This is an important consideration, so keep your properties classy even while you add your own personal touch to the estate.

Top-tier investment in real estate
Owning a luxury home also has tangible financial benefits, especially if you are looking for ways to increase your own wealth.

For starters, property has a tendency to appreciate in value over time. This means that the value of property increases as more and more people are looking for property. You can take advantage of this by buying property, keeping it in good condition for years and then selling it when the price reaches desirable levels. Just be mindful that some properties increase in price faster than other properties, so select properties that could sell for good money in the long run. This also counts for the design of the house, which is why timeless designs make for better investments than contemporary ones.

The New Normal and Your Property’s Value

If you are selling your home in today’s real estate market, then you definitely need to appeal to the needs of the ‘new normal’ buyer.

New normal buyers are focused more on saving money and making the most out of a purchase. This might seem like a difficult position for a real estate seller like you, but it will be surprisingly easier to sell to the new normal crowd if you know how to appeal to their whims.

Here are a few methods for you to do just that:

Package your house as budget-wise
If there is one thing that defines a new normal buyer in real estate, it is pragmatism. New normal clients are looking for homes that are well worth the money put down in them. Luxuries and extra amenities are simply out of the question, especially if the new normal client you are dealing with has been bitten hard by the recession. Present your property in such a way that it addresses these basics without going overboard with luxuries, and it will be a whole lot easier for you to convince a new normal buyer that your home is worth every penny.

Toss a few extras in the deal
New normal clients are not just looking for the cheapest house on the block – they are looking to purchase a home that gives them what they want at minimum cost. Providing a few incentives like federal tax cuts or extra appliances will sweeten the deal; adding value to your home without you actually having to sacrifice the overall costs. Give a new normal client the impression that he or she’s getting something extra in the deal, and it will be easier to justify the higher price in negotiations.

Point out investment potential
Another thing about new normal clients is their desire to both save and make money with their purchases. The value of your property will typically increase over time, especially when the economy fully recovers from the blow it received in recent years. Make sure to point this out while providing numbers to solidify your claim, and the new normal client will find your property a lot more attractive as a long-term investment of good money.

Adopt a strategic stance in negotiations
A strategic stance in negotiations is where you keep yourself open to the deals of the buyer without being too aggressive or passive in the process. List down your essentials, concede on a few deals and seal the deal once you are done. This is not a method to directly raise the value of your property, but it is nonetheless an essential step in persuading a new normal client to part with his or her money.

Remember to keep these tips in mind, and you should be able to raise the value of your property while selling to a new normal crowd. Just don’t be too stiff with your prices if you do not want potential clients backing away and looking for better deals out there.