Category: Real Estate

Mar 04

There’s More Benefits To Constructing A Townhouse Than Meets The Eye!

A townhouse is normally a medium-density house in the city that is normally semi-detached or terraced. The term townhouse conveys a sense of nobility since the house was a popular residence for many nobles many centuries ago. In the US and Canada, townhouses denote houses on small footprints in the city, which have large living space due to multiple floors. This design allows townhouses to be located within a short distance from industrial and business areas in any city. The house provides a luxurious residence for homeowners who want to live close to their work but in a cozy home.

1. Cheaper construction cost

Before you can decide whether to build a townhouse or a single-family home, you need to weigh all the facts. The decision to construct a townhouse over a single-family unit may be influenced by your personal preferences, financial situation, or advantages that come with this type of housing. Townhouses construction is very different from that of a single-family unit. Why, the later uses more space on the ground, a townhouse uses more space upwards.

This configuration makes a townhouse cheaper to construct that a normal house. The lower cost of building a townhouse may allow you to live comfortably in an area where you cannot afford a single-family unit.

2. Lower maintenance cost

Maintenance can really take a toll on your finances especially if you need major repairs around the house. In a townhouse, this may not be a big problem since you can share some of the cost with the owners of other townhouses attached to yours. For instance, if you need a new roof, you may talk to your neighbors and split the cost equally. At times, you do not need to take care of the cleaning of the compound since you can contribute and employ someone.

3. Amenities & utilities

Townhouses have common walls with the attached townhouses hence they have fewer walls. Therefore, you do not need to spend as much on cooling and heating as in a single-family unit. This will help you save money on utilities. In addition, depending with the type of townhouse you want, you may enjoy amenities that may not be available to those who live in single-family units.

You may have access to a community pool, a fitness center, a tennis court, a basketball court, a playground, a clubhouse, and many other amenities for you and your guests. It is vital to choose a credible construction company when dealing with a townhouse project.

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Mar 04

Your Dream House Is Within Your Reach! Read On…

If you are a first time home buyer, the below is information that you need to know before making that big step.

1. There are many ways to find homes: going to expos, searching for houses online or looking through notice boards at malls. The easiest and stress free way is to hire an agent. The below are the reasons why this is the best option to take:

  • Agents are aware of new listings in the market in terms of house prices and the best deals
  • They know the process and paperwork
  • An agent will use their resources like time, fuel and airtime to follow up with the search
  • If you are very busy, you can use your agent to preview homes and send you pictures of the same to help you decide
  • They are aware of overpriced houses and other alternatives and can advise accordingly

2. Let the agent be aware of your specifications i.e. large kitchen, mini kitchen garden, hardwood floors, brick walls or any other detail that are important features for you. Get to see at least five houses before settling on one.

3. Do not look at the price of a house only. Get the agent to negotiate the offer for you based on the location of the house among other factors like proximity to work, social amenities like schools and hospitals, rate of property tax, crime rate, quality of water and air and the general noise level of the area. These are also an important factor to consider when choosing a house. Agents can help you meet your expectations and get a good value for your money. Find out the total final cost that you will incur in the purchase which includes agent fees, settlement fees, taxes and the home owners’ association fees.

4. You can get a mortgage loan to help you buy the house. If your bank account transactions show a good credit history, then you may be sure to get the loan. Do not forget to purchase mortgage insurance to cover you in case you default on mortgage payments.

5. Once you have decided the house you want, contract an agency to do an inspection of the house before you sign any documentation. If faults are found, you may request the seller to repair the house or cancel the purchase altogether. From this point, you can get a contractor to remodel your house and customize it to your style and preference.

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Mar 04

Renting Out Real Estate: Can Short Term Leases Be Profitable?

If you are interested in making some money out of real estate, chances are that you will think about renting residential property to people who may need it. The growing demand for housing in many parts of the world means that if you star such a business in the right manner, chances are that you will be able to make a lot of money out of it in a short time.

When you are beginning such a business venture, it is always a good idea to try and get the specifics right as fast as possible. For instance, though it may technically be safer for you to offer the rentals for a long time, you may sometimes find it more profitable to offer short leases for the property you are renting out.

Instances where short leases may be more profitable

One of the instances where this may be profitable is when you offer furnished rental properties. Most of the time, people who are looking to get furnished properties normally don’t intend to stay for very long, which means that if you insist on asking for long leases you may end up getting very few customers. In addition to that, the fact that you can charge a lot for such properties means that it will be very easy for you to recoup your costs.

How to attract people to rent furnished properties

For this to work, however, you will need to find ways of attracting people who are more likely to rent the property. One of the ways of doing this would be to make sure that the property is well taken care of. For instance, once a customer has vacated the premises, you need to get the services of a carpet and pest control company to clean it up. This way, the next customers will find the property in pristine condition, and this in turn means that you will end up getting very good reviews from them.

Additionally, you need to identify the most likely group of people who will be interested in the property, and then market it to them in the right manner. This means making sure that you use targeted advertising to get their attention. This will reduce the cost of marketing without adversely affecting the quality of your marketing campaign.

The thing you need to remember is that when putting up a property for rent, you don’t always need long term leases to make the most out of it. Sometimes, you can easily make as much or even more by providing short term leases.

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Mar 04

Short Analysis of Singapore Real Estate For 2013

Private property prices in Singapore have been rising constantly in the past 3 years after the financial crisis in 2008. In 2012 alone, it is estimated that the real estate market has risen by as much as 20%. This is both good times for the property investors as well as worrying for the home buyers. Noticing this phenomenon, the local government has been taking steps to cool down the market. These are introduced in the form of cooling measures and there have been seven rounds to date with the last one in January 2013.

These measures are all aimed at curbing property speculators who are flipping their assets for a quick profit or buying their second or third homes. They are mainly the cause of the rising prices and keeping first time home buyers out of the market. Another group of people being target by the government is the foreign investors. These are usually cash rich individuals from countries such as China and India who feel that Singapore is a safe place to park their money. They have also brought their wealth into Singapore and keeping the real estate market booming.

These restrictions require the buyers to pay additional taxes called stamp duties for the homes they are buying. If the home is their second or third one, they have to pay more taxes. However, most people are skeptical of these rulings simply because the rich people can afford these additional taxes if they really want to put their money in a safe place. Last year, the government received more than 2 billion in additional stamp duties from such individuals. This goes to show that their demand is rather inelastic.

To see how effective is the new measures, there will be a series of new condo at Mount Vernon that will be launched in the first quarter of this year. This is the first test of the property market in Singapore to see if the buyers are really affected by the restrictions or adopting a wait and see attitude. Until then, no one can predict the market going forward.

Despite the restrictions, first time home buyers are relatively unaffected and will the target segment for developers in 2013. We will expect the usual marketing gimmicks that will be introduced to lure these buyers. These include discounts, designer home fittings and furniture vouchers. Though investors may be kept at the sidelines, genuine home buyers are still able to buy into the market.

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Feb 18

The Steps To Proper Custom Home Building

New home construction framingLooking to build your dream home? This sounds a lot easier than it actually is. When it comes to such a big project, you do not want to take it on alone. There are so many things involved, that all the steps could get overwhelming. Don’t stress yourself out by not knowing where to start, Utah custom home builders and other local companies near you will help you get organized and ready to construct your personally designed home. With advice and suggestions, contractors can get you in the right direction for what is best for you. Following these guidelines and hiring a professional will get you even closer to creating the home of your dreams.

Planning Ahead

The first thing you need to do before anything else is developing a very structured and detailed plan as to how you want your desired house. When you hire a professional contractor, they can guide you in the right direction as to how to plan out your home. With years of experience, it is good to get advice from an expert as to how things should be in your future home. You do not want to place something in an area where it could cause problems for you in the long run. Companies provide template plans for you to choose from if you are not wanting to start from scratch. They may also have well equipped architects and designers to help you if you are starting from square one. After you have decided the layout of your home, you will want to meet with your contractors to go over everything that will happen. This is the time to ask any questions or address any concerns you may feel. Doing this before construction is vital because you then can make any small changes before you have even begun.

Construction and Costs

The next steps involve the actual construction. This project can be very pricey and you want to make sure you aren’t breaking the bank. Find a financial plan that can help you continue on with your dream home. There are different types of mortgage plans and companies that provide loans for you so that you can have a comfortable amount of money still saved up if other issues were to occur. Next is to manage the construction. Simply check in and make sure everything is in working order and on schedule. There are different stages of construction that require a certain amount of time. If you follow up and determine if everything is running smoothly, you will be saving yourself time and money. Another great option to consider is to hire a Quality Assurance Coordinator. What they do is make sure that the building is meeting all requirements and codes. You want your construction to meet all the conditions that are set.

Finishing Up

After everything construction wise is complete, you will want to go through your house and inspect it. Make sure everything is just how you imagined it, and that there is no issues. Once this process is completed, you can finish all the paperwork that needs to be done in order to own your new home. After you settle in, most companies will check in and take care of any problems. It is good to find a company that provides services to their customers, even after they build their home. Utah custom home builders and other companies in your area are wanting to help you build and create a home that you will love living in for a very long time.

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Feb 18

Your Moving Budget: Things to Include

moving companiesOne of the most important things that you can do to ensure that your move goes smoothly involves building a moving budget that outlines all of the financial ramifications of relocation. There are going to be many aspects of a move that you will have to pay for, and knowing where the money is and where it is flowing, can ultimately provide you with stability, organization, and a method of seeing where you can save money on the overall process. Regardless of where you are moving, it is important that you create a moving budget and include some of the more important, and common, aspects of the relocation process. Here are some of the things that should appear on your final and printed moving budget no matter where your move is going to take you.

The Movers

The moving companies that you hire are going to be the biggest expense related to the move, so you need to nail down a solid price for the services that you are hiring them for. There are a number of different movers, all who offer different services, so knowing what you need and how much it will cost will set the basis for the budget that you are building. First, call around to different companies to get moving quotes, and then weed out the ones that are overly high and those that are overly low. Once you have a short list of companies you are really considering, contact them all and get binding moving estimates that will set the price you will ultimately pay for the services you need. When you decide which one you are going to hire, put this amount on your budget and add ten percent for any potential fluctuations that may occur due to extra fees of unexpected obstacles along the way.

The Home

There are inevitably going to be expenses related to the home that you might not have thought about when you were packing up the old home. While you might have missed them at first, these expenses are still going to require that you take care of them. You should add a section to your moving budget that will include things like the utility deposits that you will have to pay for, as well as any incidental costs and repair costs that you might be confronted with just after you move into your new home. Having some money on hand to cover these things will make the move that much more stress-free, as you won’t be scrambling around at the last minute trying to cover financial aspects that you didn’t really think of from the beginning. Furthermore, this will help you settle into your new home faster and without as much trouble.

The Trip

Finally, don’t forget about the costs that will be associated with moving your family to their new home. While your things might be covered, there are definite costs associated with travel for the people who are moving from one home to another as well. First, you need to decide just how you are going to get your family to your new home, and then you need to set aside the money that will be required to get this done. If you are opting to travel by plane, be sure that you have the money for plane tickets set aside. If you plan to travel by car, then set aside money for expenses like fuel, food, and lodging. In the end, this will make the moving process just a bit easier for everyone involved.

The author of this article, Kaylin McLeod, is an expert on moving with families. She works as a consultant that helps consumers today find cheap moving companies and helpful information on making moving easier by maintaining a blog at movingquotes.net. When she isn’t working, she enjoys reading and spending time with her two cats.

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Dec 13

Hiring Property Management – Phoenix Property Investors’ Winning Strategy

property management phoenix investors chooseAny person who owns rental property in the Phoenix area has probably wondered if it would be better to manage the property by himself or if this responsibility should be handled by a professional property management Phoenix-based company. There are several situations in which it is definitely better to have a professional management company take over the role.

If the owner happens to live a great distance away from the investment property, then it is more practical to have the day-to-day management duties carried out by someone else who lives close by. Although the responsibilities of managing a rental property could be delegated to a friend or a relative, it is usually better to have the services of a professional management service. This is especially true if the property has multiple units or if several different rental properties must be looked after.

There are many duties, responsibilities, and expenses that go with being a landlord. Some of these are not always apparent when the investor first purchases a rental property. Each month, rent must be collected from the tenants without fail. Tenants who have lost their jobs or who live an irresponsible life will often delay the payment of rent until no solution is possible except eviction. This can be an unpleasant task for most property owners or amateur managers of a property. Repairs will frequently be required as various appliances and fixtures break down. Some of these repairs will be extremely costly and the landlord must have the means to pay for them.

Although it can be true that owning rental properties can be the road to riches, the road can be a long one with many detours and stumbles along the way. A property owner who is not prepared to spend a lot of time managing the rental properties must find someone else to take on this responsibility for him.  If a friend or relative cannot be found to do this task, another possible step is to hire a building manager to take on the responsibility.

A different option that has worked for many property owners is to hire a professional management company that will take over all the day to day tasks that are involved in running a rental property successfully. The company will take care of collecting the rents, screening the tenants, placing advertisements for tenants when vacancies occur, and evicting those tenants who have shown themselves to be undesirable.

Finally when looking at good property management, Phoenix investor property owners usually concur that the fee charged by the management company is a very good value for the services that are received in return. This leaves the landlord is then free to pursue other dreams, such as finding more future properties in which to invest.

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