Tag Archives: Real estate
There are different reasons to do a home remodel or addition project. Here are some of them.
- To improve home safety, security, and privacy
- To improve comfort and add living space
- For added convenience
- To improve aesthetics
- To reduce carbon footprint and pay lower utility bills
- Personal preferences
- Growing family
One more aspect of home improvement that most people take into account, in addition to the reasons above, is how the project will impact property value.
There are improvements or additions that don’t always make sense, from an economics point of view, but there are also those that offer a higher possibility of increasing market value. Here are some of the latter.
A concrete or steel fence, or a combination of those two, is usually a good investment if it is at all allowed in the neighborhood you’re in. Its benefits include added privacy, if they limit the view of the property from the outside; and security, if it makes climbing over it a challenge for most would-be intruders.
Many homeowners don’t like the idea of hiding their home behind a fence, but you can make a fence work for you in terms of aesthetics as well. Customized decorative steel is one way to do that, and with the ease of finding steel online for your project, you won’t have any problems choosing a design.
Old windows with broken glass or damaged locks, windows that won’t open anymore, and windows that don’t do anything to prevent the escape of air-conditioned or heated air are instant turn-offs for buyers. They are an eyesore and possibly unsafe. You are likely paying more for your energy use because of their poor insulation. Get top quality replacement windows that add beauty to your home. Double-glass windows with argon to prevent heat and cold transfer are a great investment.
Minor Kitchen Remodel
If you want your kitchen to improve, do a minor remodel. Widening it and removing unsightly divisions between rooms are simpler remodel projects that can add value. Put in some new appliances from known brands. Be careful not to overdo it, though. It still has to fit the aesthetics and style of your house; otherwise, it might stick out like a sore thumb.
These three remodel or improvement options are examples of what you can do to hit a few birds: aesthetics, comfort and convenience, efficiency, and added market value. It is, of course, your home, so the final decision always rests with you. Still, it would make sense to ask your realtor, designer, contractor for some advice.
The residential property market in Brisbane is expected to grow steadily in 2017, despite mixed projections of ups and downs in home prices.
Some economists predict that prices for house and land in Brisbane may increase, as opposed to projected declines in apartment prices. According to Domain Group chief economist Andrew Wilson, a price upswing in the apartment market will continue to fall due to the high volume of new projects scheduled to be launched in 2017.
Still, the city’s housing market would outperform other capital cities in Australia amid a slowing national economy.
By the end of November 2016, the median home price in Brisbane amounted to more than A$532,000. For the next 12 months, the price is tipped to increase to more than A$553,000. On the other hand, apartment prices would fall from more than A$367,000 to over A$353,000 in the same period.
Wilson said that the price downturn in apartments would possibly continue into 2018, as that would be the time when demand is expected to be equal to the available supply. As a result, unit prices are bound to increase when people begin to search for more apartments.
In terms of an investment perspective, several buyers have preferred properties in Brisbane due to the large price gap compared to prices of apartments in Melbourne and Sydney. There is a continued interest in homes, as planbuild.com.au says it is more than just ‘bricks and mortar’. Homes remain a place for nurturing and growth, says the Queensland home developer.
Wilson suggested nine Brisbane suburbs with the most potential to offer great investment returns for buyers. These locations would also be some of the best areas for sellers to offload their assets. For the high-end market, Hawthorne ranked first among Wilson’s top three picks, followed by Highgate Hill and Kelvin Grove, reports domain.com.au.
Sinnamon Park, Toowong and Burpengary East comprised the premium suburbs, while the affordable suburbs consisted of Keperra, Heritage Park and Redcliffe.
Getting hundreds of thousands of dollars together to buy a house in one instance is a privilege reserved for very few. For most people, it’s impossible to own a home without a mortgage, but applying for a mortgage isa more manageable and affordable way of owning a house.
There are a few things, however, that you need to know before you settle for the mortgage plan:
Put Down a Higher Down Payment if You Can
Spreading your repayment over many years may make your monthly repayments lower, but this will, unfortunately, saddle you with debt longer. It’s also worth noting that the lesser the down payment you put down, the more expensive the mortgage insurance becomes, and the higher the interest rate.
Consult a Mortgage Officer Before Looking at Homes
A mortgage officer helps you determine if you have credit problems that you need to sort out first. Additionally, the mortgage planner will help you shop for affordable plans. They help you put together the mortgage rate in Utah, the insurance costs, and the taxes for different plans from Citycreekmortgage.com and other mortgage providers, to determine which one suits you best.
Don’t Open New Accounts or Close Existing Ones
This includes applying for new credit cards or any other lines of credit. When applying for a mortgage, don’t alter your credit report. Doing so will have an impact on the type of loan you can take.
Pay off as much Debt as You Can First
To determine how much you can afford to borrow, your lender looks at your income and your debts. Your car repayments, credit card debts, even your student loan. If your total debt in addition to the mortgage repayment will be more than 43 percent of your income, you immediately become a bad candidate for the house loan. Some lenders want an even lower debt-to-income ratio.
Keep Your Job
Your lender would want to know that you will have income for the repayment period stated in your agreement. This means that stable employment history is critical when borrowing.
Buying a home is a huge life decision that demands carefully weighing the options presented to you.
Buying and selling properties were once an activity that homeowners themselves carry out. Today’s market, however, has grown much more complex that relying on one’s ability might prove to be disadvantageous. It is for this reason that property managers have come to the forefront of the business.
Current Trends in Property Management
The modern world has broadened the scope of what property managers are responsible for. For instance, a property manager might need to manage staff members of their own while making sure that maintenance takes place in a timely manner. They’re also responsible for ensuring the security of the properties they handle and that they comply with government documentations needed to transfer ownership. There are also some areas where property managers are responsible for landscaping.
The Importance of a Property Manager
When you hire the services of a property manager, whether it is in Orlando or anywhere in Florida, Masters Realty Property Management say that you are hiring their expertise and experience. Their in-depth knowledge of local rates can prove to be quite useful regardless if you are buying or selling a property. This understanding can help sell your property faster and even negotiate better rates.
When leasing your property, on the other hand, a property manager can help look for prospective tenants. Their screening process is thorough with social security, criminal background, employment background check, and public notice checks. Apart from helping you comply with local and state regulations, this ensures that your tenant would be able to take care of your property.
These are only some of the things a property manager can do. If you want to buy, sell, or even lease your house, then there’s no doubt that they can help reach your goal.
From funds to stocks to real estate properties, 2016 has quite the extensive list of good to great investment assets to choose from. However, like all types of investment ventures, you need to know what and where you should put your money in this year.
To help you get started, here are three of the top investments, as what many financial experts say:
You will find several types of closed-end funds (CEFs), mutual funds that you trade on the exchange market much like stocks, which you can get with considerably big discounts. Some of these include corporate bonds with high yields and investment-grade qualities. Many experts favor a mix of both types.
When you choose a CEF, pay attention to return consistency and prioritize this rather than benchmarks or peers. You should also confirm that the management team responsible for the funds’ great performance still manages them. The funds should also have performed great on a consistent basis, and not just on a single event.
The real estate market has seen a considerable rise in the number of people investing in them, particularly when the talk comes to turnkey investment property. Many of those who belong to the Millennials generation, and even some members of Generation X, now turn to real estate companies specializing in turnkey property investments.
According to Americashousingalliance.com, this is probably because of the convenience it brings as well as its dual function: it gives buyers the title of a homeowner while they also get to enjoy an additional source of income.
For those who want to invest in stocks, go for energy stocks. For almost two years now, oil prices have continued to plummet, resulting in the price of these stocks to follow suit. You should consider their lower price as an attractive characteristic, especially now that prices of the commodity have returned to a somewhat more stable status. The time of overselling has come to pass, making these stocks a great place to put your money in.
Make the right investment venture this year: place your money in these three best-sellers of 2016.
Fixing all the damages in your house before selling is conventional wisdom. Agents would always push you to spruce up your property in every possible way to make it more attractive to buyers and increase its overall value. Even if they make a lot of sense, the real motivation behind their fondness for beauty and perfection is their commission. After all, their cut depends on the total sale price of your house; so the bigger, the fatter paycheck for them.
But, does this practice necessary when you’re dealing with a real estate investor? It’s not unheard for buyers paying cash for houses in St. Louis, Salt Lake, Dallas, and other hot markets to purchase properties as is. Here’s why:
They Want to Speed Up the Process
Unlike most homebuyers, real estate investors are businesspersons. For them, time is of essence because it could cost them dearly if wait too long to own a certain property. As much as you want to earn money from your unwanted house, they likewise want to generate returns from it at a certain period.
According to fasterhouse.com, the last thing real estate investors need is for your renovation project to stand in their way to reselling it at the time they have in mind.
They Want to Handle the Repairs Themselves
As businesspersons, they have their own way of dealing with problems differently. They might feel more comfortable to assess if the property really needs some fixing or not themselves. If a repair is inevitable, there’s a great possibility that they have a Rolodex of contractors that could give them discounts.
They Are Not Going to Live There Anyway
A real estate investor might care more about the possible issues of your house if he or she would call it an abode eventually — but that’s not the case. When typical homebuyers see home in a property for sale, investors see it as a product, which they can potentially resell it for a handsome amount.
If you prefer to sell your house to a cash buyer, any type of repair is unnecessary. Not only you don’t have to finance the job, you also save yourself from all the fuss that comes with it.
The Internet has made it easier for investors to get information on properties that are on sale in different parts of the world. You can access websites using your smartphone, tablet, or computer to get more insights about the properties, including the size, pricing, location, and the seller. The owners of such platforms always carry out background research to protect potential buyers from fraud.
Here are some of the things you should know before purchasing a property to catapult your real estate investment:
Have a Learning Goal
This means committing your time and money to learning more about PNG real estate industry before you even start negotiating with the seller. Knowledge is power — the more you know about the industry, the higher your chances of making an informed decision.
Know the Difference between Value and Price
As Niugini Land and Properties notes, there is a vast difference between the real value of a property and the price quoted by the seller. Most of the investors make the mistake of not considering the value of the property. This results in regrets down the road once they discover they spent money on a property with the actual value less than what they paid. Based on this fact, seek the services of a professional property valuer to know the value of the property before sealing the deal.
Have a Strategy
One of the guaranteed ways of leaping maximum profits from your real estate investments is by having a strategy on developing or managing the property. For instance, you can buy a bungalow in PNG and rent it out to tourists during holidays. An accountant can help you to come up with a solid financial strategy to help you make money from the properties. Note that land appreciation is good for business, but you cannot just rely solely on this. due to it volatility.
These are some of the primary considerations that you need to keep in mind when investing in real estate. Go through each of these to make the right decision and establish a network with other investors.