Changing Housing Trends Shaping Future of Residential Real Estate

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Residential Real Estate - Nima Bendavood

The residential real estate market is constantly evolving, driven by changing housing trends that shape the way people live and the type of homes they seek. These trends are influenced by various factors such as demographics, technology advancements, and societal shifts. Understanding these trends are crucial for real estate professionals to adapt their strategies and meet the demands of future homebuyers says Nima Bendavood.

Rise of Eco-Friendly Homes:

One significant trend shaping the future of residential real estate is the rise of sustainable and eco-friendly homes. With growing concerns about climate change and environmental sustainability, more homebuyers are seeking energy-efficient properties with features like solar panels, smart thermostats, and green building materials. This trend not only benefits the environment but also helps homeowners save on energy costs in the long run. With growing concerns about climate change and environmental degradation, more individuals are opting for energy-efficient homes that minimize their carbon footprint. This shift towards sustainability has led to innovations in building materials, such as recycled or renewable resources, as well as the integration of solar panels and smart home technologies.

Popularity For Small Living Spaces:

As urban areas become more crowded and housing prices soar, many people are embracing minimalistic lifestyles by downsizing their homes. Tiny houses and micro-apartments have gained traction among millennials who prioritize experiences over material possessions. Small living spaces promote decluttering and encourage individuals to prioritize what truly matters.

Demand For Multi-Generational Living Spaces :

Another important trend is the increasing demand for multi-generational living spaces. As families become more diverse in terms of age and composition, there is a growing need for homes that can accommodate multiple generations under one roof. This includes separate living areas or even accessory dwelling units (ADUs) that provide privacy while still allowing for close family connections. One of the main reasons for this increasing demand is the aging population. As life expectancy continues to rise, more families are finding themselves caring for elderly parents or grandparents. Multi-generational living provides a practical solution by allowing families to live together under one roof, ensuring that the elderly receive proper care and support while maintaining close family ties.

Role of New Technology:

Nima Bendavood: Furthermore, technological advancements are revolutionizing residential real estate. Smart home technology has become increasingly popular, allowing homeowners to control various aspects of their homes remotely through mobile apps or voice commands. From security systems to temperature control to entertainment systems, these technologies offer convenience and efficiency. Energy-efficient appliances and solar panels are now common features in many homes as people strive to reduce their carbon footprint. Additionally, innovations in insulation materials and smart thermostats have made it easier for homeowners to conserve energy and reduce utility costs.

Effect of Remote Work:

Additionally, changing work patterns have also impacted housing trends. The rise of remote work has made location less important for many professionals, leading to increased interest in suburban or rural areas where larger homes with outdoor spaces are more affordable compared to urban centers.

Bottom Line

Over the years, housing trends have undergone significant transformations due to various factors such as economic conditions, technological advancements, and changing lifestyles. These changes have had a profound impact on the way people live and the types of homes they choose.

In conclusion, Nima Bendavood says, changing housing trends are reshaping the future of residential real estate. Sustainable homes, multi-generational living spaces, technological advancements, and evolving work patterns all play a role in shaping what homebuyers desire in their ideal properties. Real estate professionals must stay informed about these trends to meet the evolving needs and preferences of future homeowners.

Renting or Investing In A Home?

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Nima Bendavood

When making a decision, it is important to weigh the pros and cons. This process allows individuals to evaluate the potential benefits and drawbacks of a particular course of action. By considering both sides, one can make an informed decision that takes into account all relevant factors.

The pros of a decision are the positive aspects or benefits that may result from it. These could include increased financial gain, improved health outcomes, or enhanced personal relationships. It is important to consider these benefits when deciding as they can provide motivation and justification for taking a particular course of action.

On the other hand, the cons are the negative aspects or drawbacks that may result from a decision. These could include financial losses, adverse health effects, or damaged relationships. It is equally important to consider these drawbacks when deciding as they can help individuals avoid potential pitfalls and make more informed choices.

Here we are going to discuss the pros of renting vs investing in a home with Nima Bendavood.

Flexibility and Freedom

Unlike homeownership, renting allows individuals to easily relocate to different areas without the burden of selling a property or dealing with the complexities of the real estate market. This flexibility is particularly beneficial for those who frequently change jobs or enjoy exploring new places.

Eliminates the Financial Responsibilities

Renting eliminates the financial responsibilities associated with homeownership.  Renters are not responsible for property taxes, homeowner’s insurance, or maintenance costs. This can significantly reduce financial stress and allow individuals to allocate their resources towards other priorities such as education, travel, or investments.

No Additional Expenses

Renting offers access to amenities that may be unaffordable for homeowners. Many rental properties come equipped with facilities like swimming pools, gyms, and communal spaces that enhance the quality of life without additional expenses.

Social Interaction and Sense of Community

Nima Bendavood: Moreover, renting provides a sense of community and social interaction. Living in an apartment complex or rental community often means being surrounded by neighbors who share common interests and experiences. This can lead to lasting friendships and a support system within proximity.

No Long Term Commitment

Renting allows individuals to live in a desirable neighborhood without the long-term commitment of purchasing a home. Renting a home has become an increasingly popular option for many individuals and families. It offers flexibility, affordability, and convenience that is often not found in other housing options. Renters have the freedom to move from one place to another without the hassle of selling a property. This is especially beneficial for those who have jobs that require frequent relocation or for young professionals who are still exploring different career opportunities.

Lower Mortgage Payment

Rent payments are typically lower than mortgage payments, allowing renters to allocate their funds toward other expenses or savings. Additionally, renters do not have to worry about property taxes or maintenance costs, as these responsibilities fall on the landlord. However, the main benefit of owning a home comes with long term appreciation and wealth being created from owning a house that goes up in value over the years.

Renting Is More Convenient

Renting also offers convenience. Landlords are responsible for repairs and maintenance, which means that renters can focus on enjoying their living space rather than dealing with household chores.

Wrapping up

In conclusion, there are several advantages to renting a home including flexibility in terms of location changes and reduced financial responsibilities compared to homeownership. Additionally, renters have access to amenities that may otherwise be unaffordable and benefit from a sense of community within their living environment.

Nima Bendavood says, weighing the pros and cons is an essential part of making any significant decision. By carefully evaluating both sides, individuals can make informed choices that take into account all relevant factors and maximize their chances for success.

Originally Posted: https://vocal.media/journal/renting-or-investing-in-a-home

Do I Need A Real Estate Attorney?

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Nima Bendavood Real Estate

Real estate attorneys are the go-to professionals for any legal issues that arise when buying or selling a home. They help you navigate through the process, and they’re also experts in all aspects of real estate law. Here Nima Bendavood is going to discuss real estate attorneys. Let’s know about real estate attorneys for beginners from the basics.

Commercial real estate lawyer:

Commercial real estate lawyers are those who specialize in business law and commercial transactions, including contracts, leases, landlord-tenant issues, corporate matters, and securities.

Residential Real Estate Lawyer:

Residential real estate lawyers focus on residential property transactions such as the sale or purchase of a home or condominium unit. They will arrange all necessary legal documents and prepare an offer to buy or sell your property at market value.

What Does A Real Estate Attorney Do?

Nima Bendavood : A real estate attorney is a lawyer who provides legal services to the real estate industry. Real estate law can be very complex and requires a high level of expertise in numerous areas, including contracts, property transactions, landlord-tenant law, construction law, and more. A good attorney will know how to navigate through these complexities while providing his or her clients with excellent legal representation.

How much does an attorney cost? An experienced real estate attorney may charge anywhere from $150-$500 per hour for their services. This amount depends on the complexity of your case and what type of work you require to be done.

Do You Need A Real Estate Attorney or Not?

If you are a first-time home buyer, a real estate attorney may not be necessary as your agent could guide you through most of the process. However, please note that real estate agents are not allowed to give legal advice to clients, so you’d need to engage an attorney for specific legal questions or more complex matters. As you grow and scale your real estate business, it becomes more important to understand your rights and responsibilities and hiring an attorney could become helpful.

How Much Does a Real Estate Attorney Cost?

As with most things, the price of a real estate attorney depends on the type of services you need and how much time they will take to complete. The fee for an initial consultation is usually between $300 and $500, although it can go up or down depending on your circumstances. Real estate attorneys typically charge by the hour. In addition to their hourly rates, some lawyers offer flat fees for certain types of cases or issues.

Wrapping-Up:

Real estate attorneys can help you with a variety of real estate-related matters, including Advising on the purchase and sale of the property as well as drafting contracts to buy and sell land or homes. These may include deeds, leases, mortgages, and other financial documents. They also may include agreements for construction projects such as new houses or commercial buildings. Nima Bendavood says Finding a good real estate attorney could be very beneficial to growing and scaling your business as you move into larger and more complex deals.

Why Real Estate Is Smartest Investment

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Smart Investment

The first thing you should know about investing in real estate is that there are two types: commercial property and residential property. Commercial property includes office buildings, shopping centers, hotels, and motels as well as industrial properties such as factories and warehouses.

There are several reasons why investing in real estate is a great way to protect and grow your wealth. First, it is one of the best ways to invest for long-term growth. Secondly, it offers tax advantages that other investments do not have. Thirdly, real estate can be a great diversifier from stocks or bonds because of its many different investment options and ownership opportunities. Let’s discuss all these with Nima Bendavood.

One of the Best Ways to Invest For a Stable Return:

Real estate is one of the best ways to invest for a stable return. Real estate investment has been around for thousands of years and it continues to be one of the most reliable investments you can make. The reason why real estate is so popular among investors is that it provides both short-term and long-term returns. You can get a high yield from your investment in just a few years, but if you hold onto your property for longer, you will earn more over time as well. This is what makes real estate such an attractive investment option for people who are looking to build up their assets over time.

It Can Be Done With Very Little Risk:

Nima Bendavood: You should buy what you know about. You should also not be investing in something that has high leverage or a high risk of loss of principal because if the market goes down, your money will go with it too fast for your ability to recover from that loss of principal. This is why I suggest buying properties on cash flow.

One of the Best Ways to Invest For Long-Term Growth:

It is a great way to invest for long-term growth. Real estate has been the best investment in America for the past 100 years. It is one of the only investments that can provide you with enough income to cover your expenses and still give you a nice return on your investment.

Real estate also provides an excellent opportunity to diversify, as well as protect against inflation. The value of real estate tends to increase over time, which means it will continue providing you with more money than other forms of investing like stocks or bonds.

A Solid Foundation for Retirement Planning:

The income from property can be used to generate cash flow and capital gains or reinvested in other income-producing investments. This means that real estate can be leveraged for growth and provide a solid foundation for retirement planning. It provides the ability to generate income through rental property, and it also can provide an asset that will appreciate over time. Nima Bendavood says, a real estate investment can be a good way to supplement your retirement income in addition to Social Security benefits.

Know All About Rental Discrimination

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Nima Bendavood Rental

Rental discrimination is when a landlord or property manager refuses to rent an apartment to someone because of their race, color, religion, sex, national origin, or disability. Nima Bendavood says the law also prohibits landlords from refusing to rent apartments based on the applicant’s marital status and familial status (such as having children).

Retaliation against someone who has complained about housing discrimination is illegal. It includes threats and actions taken against you after one has filed a complaint with HUD. Let’s discuss Renal Discrimination in detail.

California’s Fair Employment and Housing Act

It prohibits those engaged in the housing business — landlords, real estate agents, home sellers, builders, mortgage lenders, among others — from discriminating against tenants or homeowners says Nima Bendavood according to the state of California’s Civil Rights Department.

This includes refusing to sell, rent, or lend to protected individuals as well as refusing to make reasonable accommodations.

Wrapping-up:

Nima Bendavood says rental discrimination is illegal in all 50 states. The federal Fair Housing Act prohibits housing providers from discriminating against renters based on their race, color, religion, sex, familial status (such as children or elderly), national origin (including citizenship status), and disability.

Importance of location in Real Estate

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Nima Bendavood

Location is one of the most important factors which can’t be ignored in real estate investment. Many people ignore the location factor while purchasing property, which is one of the biggest mistakes. You can change the size, and price of the home, but you can’t change its location. So make sure you are investing in a good location. Here we are going to discuss the importance of location in real estate marketing with Nima Bendavood.

The location creates demand and demand increases the price. You can change the construction of your home later, but you can’t change the location of your home later. If you keep location in mind then your investment can appreciate more with the area, so do not neglect the location while buying your dream home. Many people ignore this factor, which may be a common mistake.

Consider the following items when looking to buy a property:

Schools, the Important Factor in Location

Distance of school from home is one of the important factors. Most people want to buy a home with close proximity to highly rated schools. It is easier for kids and parents too. If school is closer to your home, then it will also reduce the transportion expenses. The nearest school will also save travel time says Nima Bendavood.

Transportation factor

The facility of easy transportation is also an important factor. Everyone wants to save their travel time. It can be possible only if there is a good transportation facility from your home. Whether you have your car, public transportation can always be a good backup. It would be a good idea if Subway/Metro, bus, or other public transportation services are in close proximity to your home.

Local Amenities

Grocery stores, shopping, and restaurants are some basic and important amenities. 70% of the buyer pool prefers to have these amenities within their walking distance. Especially grocery store within walking distance to provide basic food and family items. However more recently being close to gyms, boutique stores, etc. has been more popular as well by millennials.

Location Also Affects the Values

The location has a vital impact on the home value. If a park, Metro station, bus stand, shopping mall, or any other public facilities are in close proximity to your home, then the value of your home will increase. If you want to rent out your home, then it will be easier to rent out if your home is in a good location. If your home is farther away from city services, finding a tenant could prove to be a challenge.

Final Thought:

If you are buying a home, don’t neglect the location of your home. This is the most important factor in real estate according to Nima Bendavood. If your home is far away from shops, grocery stores, schools, etc. then it can limit the value appreciate if your home. But also remember with all these amenities, property prices will be higher. Make a priority list of your requirement and buy the property/home according to that. This will also help you to purchase your home within your comfortable budget.

Tips To Know Local Real Estate Market

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Nima Bendavood

Real estate professionals don’t want to put a limit on their knowledge about the property. Detailed knowledge about the local market is very common in successful real estate consultations. If you will ask any questions about their local real estate market, they will satisfy you with their knowledge about the property. If you are also in the real estate field, then you should focus on your local real estate market. In this article, Nima Bendavood is going to discuss the real estate market and its importance in the real estate business.

There are many things which you must keep in your mind about your local real estate market. Let us discuss them with Nima Bendavood.

Understand Real Estate Market On Local Level:

If you want to succeed in real estate and live the life you deserve, then you should have a clear understanding of your local real estate market. Know what’s happening in the industry, network with other industry experts online or at conferences, and strategically diversify your business by selling units or investing in partnerships or joint ventures. Understand how governments regulate real estate transactions. Know where you want to build by understanding zoning laws in your area.

How we can have a better understanding of our local real estate:

– You should have enough data to understand your local real estate market.

– Which real estate services are in demand in your local real estate market.

– Collect the data about the listing and sales of properties. What are the features of listed and sold properties in your area?

– Don’t forget the performance of your competitors in your local area. What is your competitors’ role and performance in your local area?

Visit Your Municipality to Know the Right Information

Real estate professionals should be in the know about the local real estate market on a personal level. This means they need to visit their municipality and learn the right information about the local real estate market. Find out what’s happening in the real estate industry. This is the place from where you can gather 100% accurate data and the latest news related to the property. Frequently visiting the municipality will help you to keep yourself up to date with new government rules. You can even find out where you want to build by understanding zoning laws in your area. Most real estate professionals will know about the local market because they need to visit their municipality to regularly update themselves.

Know The Affordability of Property in The Local Market

Nima Bendavood says, due to pandemic, many aspects of our lives have been affected. First, living standards and conditions of people has changed. Many families also face an economic crisis. Keeping all these points in your mind, know the affordability level of the people in your local area. Can they afford the property in the local market? If yes then what are their expectations. These are very important queries, which should be solved. You need to understand your local real estate market thoroughly, then you can set a strategy for success.

Nima Bendavood About Us

Posted on by Nima Bendavood

Nima Bendavood has extensive experience in all aspects of the real estate industry. Nima first embarked on his real estate journey within the residential and single-family space.

Nima Bendavood has extensive experience in all aspects of the real estate industry. Furthermore, he is well versed in the leasing aspects in both low-end and high-end markets.

Nima started his career at the popular fast-food chain Mcdonald’s in early 2015 and worked his way up.

Nima earned a new position as Client Service Representative in Bank of America in late 2015.

Nima completed all California Licensing Requirements and earned his Real Estate Sales Person License in 2016 at the age of only 19.

He has worked his way from being an entry-level associate to becoming a senior associate in less than 3 years, working with both buyers and sellers. Nima has gained valuable experience in commercial real estate as well, which includes multifamily, retail, and office spaces and generating leads for salesmen at all levels of the company.

Then he gained tremendous experience in the commercial field including but not limited to multifamily, retail, office, industrial, mixed-use, and land.

Nima is a real estate expert in the high-end market with extensive experience in all aspects of the industry.

For the past 5 years, Nima Bendavood has been working in both residential and commercial real estate development. With so much experience, he will guide you on how best to get your deal done.

“From a young age, he realize how important it is to be a good leader. He spent his life helping people become the best version of themselves possible.

Furthermore, he is well versed in the leasing aspects in both low-end and high-end markets.

Smart Real Estate Investments to Make After Pandemic

Posted on by Nima Bendavood
Nima Bendavood

After the COVID-19 many of our lives have changed, but life is finally getting back on track. Nima Bendavood says, covid took a big toll on the real estate industry in the beginning of covid. But nothing is permanent. People have to come back to their workstations with some precautions and safety. Every sector is trying to recover from covid and with some changes adopted they are successful to phase the pandemic situation.

If we talk about the real estate sector where we feel still fear to invest in some areas. Many people are trying to invest their money in the safe zone. They don’t want to take the risk. Real estate investor is trying to avoid investing in those fields, which creates difficulties and lead to a loss in the future.

Many investors are looking for real estate properties in the built-up areas of major cities. They are seeking such properties which are more likely to generate more revenues after the COVID-19 pandemic.

If you are still hesitant to invest in real estate sectors, please read the rest of this article. You can check out the list of higher and lower-risk investments here. Let’s discuss them with Nima Bendavood.

Multifamily Real Estate After Covid Crisis

Many people are choosing to buy houses, some may still prefer to rent homes. This means there this field is still in demand. You can invest in the rental property. During the height of covid-19, this sector of real estate was considered proof of recession.

Investment in Office Properties

During the Covid-19 pandemic, many sectors switch to online work from home mode. If you are a real estate, then try to avoid in invest in office properties. It will be the toughest task to sell or rent out this kind of property. No doubt after post-covid-19 many offices are opened but many companies especially the IT sector are planning to digitize their work.

Rental properties are in demand

People are preferring to buy their own homes but many are still preferring renting home. This field is the safest option to invest money in. People who are unable to buy their homes or people who are living at their job location need rental property.

Many people are choosing to buy houses, some may still prefer to rent homes. But still, we can consider it a safer option in real estate.

Wrapping-Up:

Extremely high demand for investment in the real estate sector during the pandemic. People are struggling with the decision of whether to invest or not. It depends on your risk level and personal choice. We have seen a lot of people who wanted to invest their money in the real estate sector. After the covid-19 pandemic, many investors are trying to avoid investing in certain fields. They fear it due to the volatility of this market and they don’t like to take risks in these sectors.

The real estate industry is still a safe and secure investment sector. If you are looking for great real estate investments, then we will suggest you visit the Nima Bendavood blog.

Originally Posted: https://nimabendavood.com/2022/07/01/smart-real-estate-investments-to-make-after-pandemic/