Times have changed, big time. Back in the day, people searched for a small home with the potential to add on and update as their income might later allow. People focused on building some equity and not throwing their money out on rent.

They sacrificed going to dinner and going on vacations to scrape up a down payment, and bought essential houseware at discount stores to be able to make a mortgage payment. They paid cash for most everything and cringed at the thought of paying credit card interest.

Although much of the thought process resonates with many people today, the world has changed dramatically, and the middle class is often priced out of homeownership in areas such as Los Angeles or other expensive cities. People fortunate enough to be able to afford a home are already renting to meet their lifestyle and fantasies. People do not want to put off their immediate desires so they can live in a beautiful, upscale home with all the efficiencies.

Bottom line is, people crave a brand-new home with volume ceilings, a huge kitchen with a center island opening to the family room and bifold doors opening to a private, landscaped yard. People want hardwood floors, great natural light, an office, a guest bedroom, a wonderful master suite and three family bedrooms all on the same floor. Smart home technology, security and a media room are high on the wish list for those who can afford a home in the higher ranges. Lighting, finishes, fixtures, cabinetry and hardwood make a buyer feel the extra attention to detail. Landscaping, heated patios, pools, pool houses, water features, spas and plunge pools are all popular, alluring incentives.

Imagine coming into a new home with a gorgeous staircase, volume ceilings, an open floor plan and a huge, open kitchen and family room, all with direct access to a resortlike backyard, a home theater, an exercise room and a home office, with every imaginable home technology system pre-wired, and security system cameras and iPad monitors in place.

Dream no more. Developers know what today's buyers crave and build to accommodate their tastes. Reach out to your real estate agent to inquire about a home for yourself.

A Checklist of Home Rental Upkeep to Keep on Hand

Things to do every six months:

1. Drive by the house to check on the exterior appearance.

2. Talk with neighbors to learn about any unusual occurrences.

3. Speak with the tenant to be sure there are no problems with the major home systems including the roof, plumbing, electrical and heating.

Things to do when your tenant moves or gives notice:

1. Decide whether you want to find a new tenant or sell the house.

2. Decide whether you would rather leave the house as is or invest time and money to do a renovation.

3. Get an update on the current rental and selling value.

4. Decide whether you will do fix-ups and repairs yourself or have a property manager handle it.

Things to do every year:

1. Do an interior inspection to check for any drainage or water intrusion issues; for any leaks in ceilings, under sinks and around toilets; or for suspicious discoloration and damp areas.

2. Make sure tenants are not violating any conditions of the lease.

3. Get an update on the rental value in the area.

For more information, please call Ron Wynn at 310-963-9944, or email him at [email protected]. To find out more about Ron and read his past columns, please visit the Creators Syndicate webpage at www.creators.com.

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