Property Investing Trends: Trend # 2: The Caring Economy
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Here is your weekly dose of inspiration, education and a list of what I’m enjoying or pondering.
PROPERTY INVESTING TRENDS: Trend # 2: The Caring Economy
There are seven new trends sweeping across the property market. By doing your research and understanding that the demand is, you will be able to ensure you have a steady stream of tenants or buyers just waiting for you to finish that refurb!
This week we will focus on Trend #2: The caring economy
The cost of living continues to increase and with this, many parents helping their children get onto the property ladder, either by assisting with deposits or buying in their name for their children to live in – or both. Likewise, the agency has also seen a lot of "children" helping their parents sell in order to downscale and retire.
What does this mean for you as an investor?
Think about the kind of home people would be looking for if they need to have their parents live with them. Chances are they'd want a free standing house with a flatlet which would allow their parents autonomy and provide everyone with space to live their lives as they see fit. What about student age children? They too would love to have their own flat where they can test out being independent while still being cared for by their parents. Larger properties that offer room for development would be ideal for this scenario!
Of course, some people would want their parents - and their student age children - out the house as quickly as possible! In that case, smaller, secure, lock up and go type accommodation that is located close to hospitals, shopping centers and public transport would be ideal.
Focus on the trends and translate that trend back to property and you will be ahead of the curve!
SKILLS FOCUS: Face to Face Communication
Social media and text messaging have contributed to the steady decline in face-to-face and telephone communication. We are doing a lot of multitasking these days, from surfing the net to instant messaging to listening to music on one of our endless devices.
Constant distractions compete for our attention, and it can be difficult for us to stop and concentrate on just one task. It is worth spending a lot of time and effort learning to communicate effectively because, astonishingly enough, in the real world people are required to speak to one another!
Practice communicating at every given opportunity. Whenever you go out with your friends or family, for example to a restaurant, a grocery store or a clothing store, talk about the service you received. Was it good, bad or indifferent? Ask them for the reasons behind their reply. If it was bad or indifferent service, request suggestions as to what could have made it better by letting them give examples of what they would have done in that situation. If the service was good, discuss what made it good and why the experience was a positive one. Perhaps one of the conversations will open an opportunity to create a new service based business! New ideas often spring from the most unlikely sources.
WHAT I AM READING: Brene Brown: Dare to Lead
Brown’s research translates to many fields because it’s about having successful interpersonal — and intrapersonal — relationships. Knowing oneself, having and enforcing boundaries, and recognizing limitations are leadership requirements but also requirements for having fulfilling relationships in general. To paraphrase Brene, we’re all just people.
Expect to take notes in the margins of “Dare to Lead.” It’s an absorbingly actionable handbook on creating a space for better work and more fulfilled people. If readers can muster the courage to follow the research, it could create better cultures in our organizations — government included.
Review by Mary Beth Albright
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