People love their pets. One study by the National Association of Realtors found that 99% of pet owners view their pets as part of the family. Most of them take their pets into consideration when choosing a place to live and more than half renovated their homes for their pets. Animals simply have a huge impact on the choices that consumers make in the real estate market.
Demand for Pet-Friendly Housing is High
Pets are extremely popular in the modern world, so much so that more households have pets than children. That means that many people who are looking for homes are trying to find places that can accommodate their animals. Houses and apartments that offer pet-friendly amenities, such as big yards or fences, are particularly appealing. Homes that are close to veterinary clinics, parks, or other pet-friendly attractions can use those amenities as a selling point.
Investors also love pet-friendly housing. Apartments that accept pets tend to be more profitable than those that ban animals. Sellers can also raise the value of a property by renovating it to be more appealing to pet owners. Those amenities can also make it much easier to find someone to buy or rent a property. Many landlords are reluctant to accept pets, so those who do accommodate animals face relatively little competition in many markets.
Pet owners and investors alike can benefit from renovation projects. Fencing projects are among the most popular, but far from the only option. Pets tend to be messy, so they benefit from replacing carpets with laminate flooring to simplify maintenance. Smaller changes, such as installing bathroom fixtures that are appropriate for cleaning animals, can also make a big difference.
The Bottom Line for Investors
Modern homes need to meet the needs of both their human inhabitants and a variety of pets. They should be safe and comfortable for as many different species as possible. Investors and builders who make a point of accommodating pet owners are likely to do better than those who ignore the needs of cats, dogs, and other species. Just a little bit of extra effort can lead to higher profits for investors and a lifetime of joy for pet owners.
This article was originally published on JasonCohenPittsburgh.net