Tag Archive | Real Estate

Pass Go With Your Property Investments

 

Do you have what it takes to survive in the property investment industry? You might think you do and we’re sure you have at least one friend who has told you how easy it is but don’t be fooled. Investing in property is always a risky venture.

real estateHowever, the rewards might just make it a risk worth taking. It all depends whether you know how to thrive investing in property.

If you’re going to win this game, there are a few things you need to do.

 

Careful With Costs

One of the biggest mistakes that you can make when investing in property is to not take all the costs into consideration. A lot of people forget about some of the key costs and focus on the main ones instead. For instance, you might be aware that you’ll need at least five percent of the overall property value for the deposit.

However, you could be investing in an apartment. If that’s the case, you should consider whether you’ll be charged money per month by the owner of the building on top of the mortgage repayments.

Getting The Right Price

How much are you paying for the property? You need to be cautious of overspending on a property that isn’t worth the money. Make sure you get a full survey of a building before you buy and look at any issues that might need fixing. If they are going to be too expensive, you should back away from the investment. If you don’t, you could end up in a position where you’ve actually bought the property at a loss.

Choosing The Right Location

Where should you buy the property? If you’re going to be responsible for maintenance, you should be purchasing close to where you live. However, if you’re willing to hand the job of maintenance off to a company that you trust, you can buy anywhere.

If that’s the case, you should be looking for real estate in a stunning location. This will push the value of the property sky high and ensure that selling or letting, you make a lot of money.

Partner Up

Due to the high cost of property investments, it might be worth considering avoiding going solo. Instead, you can work with a partner to sell the property. Or perhaps buy a luxury real estate investment with a group of people. You will need to choose your team carefully, but by doing this, you can limit the costs and the potential risks while still ensuring massive profits are the end outcome.

Patience Is A Virtue

Finally, at some point during your property investment, you will feel like things aren’t going your way. Maybe, the property isn’t selling at the price you’ve chosen. Or perhaps, you’re not getting enough interest from renters.

The trick here is to be patient. Eventually, someone will come along who is interested in your property at the right price. Remember once you begin this investment, there’s no fast way to jump back out of it. You must commit and prepare yourself for the bumps on the road to success.

 

 

Selling Your Home? 5 Tips to Ensure You Get The Most Money Possible

houseIf you’ve invested in real estate with the intention of selling it on for a profit, then there’s a crucial detail you’ll need to factor into the process: that you need to actually sell your home for it to be a good investment.

And it’s not just a matter of getting the house off your hands; you want to sell it for the highest amount of money you can. If you’re preparing to sell a house, take a read of our five tips below.

Think Hard About the Asking Price

There’s a misconception that an asking price in your area is the be all and end all. It’s not. Just because a home on your street was worth one amount, it doesn’t mean you have to take that as a measure for what you should ask for your home.

House prices depend on a whole host of factors, such as location, the condition of the house, and even things like which direction the garden faces. All these combine to create a unique price. In any case, a house is only worth what someone is willing to pay – if you feel confident in your high asking price, stick with it.

Make the Front Sparkle

First impressions really do count when it comes to viewing homes. You can’t control the neighborhood, but you can control the front of your home. If the grass is messy and there are kid’s toys scattered everywhere, your home will not be making a good first impression. Take the time to ensure that the front of your home is spotless and you’ll be off to a good start.

Get Rid of Clutter

If someone is thinking about buying your home, they need to be able to see themselves living in it. That’ll be hard to do if they need to first mentally ignore all the clutter you have lying around your home. Each room should have as few material items as possible. Let them see the potential of the room, not your own strewn about sports equipment and papers.

The Listing

Don’t underestimate how important real estate listings are to determining whether a house sells or not. If your property description contains spelling and grammatical errors, your listing will look unprofessional. You’ll also need to ensure that the photographs of your property are of a professional standard.

If you need some a guide on what not to do, take a look at these terrible real estate photographs.  A video of your home and virtual tour are also great marketing tools.

When They’re There

When there is interest shown from potential buyers, you’ll want to make sure that the viewing goes as smooth as possible. And that means, essentially, getting things out of the way.

If you have children, pack them off to their grandparents for the afternoon, and send the dog with them too; nothing good can come from having a dog there, only bad! If you’re doing the viewing yourself, then show them around and then allow them to wander around by themselves. If they’re going to buy, they need to feel comfortable in the home.

 

A Beginner’s Guide to Buying a Home

There are not many things in life as happy or exciting as buying your first house. It is a big step and means that you are finally on the property ladder. Spending your money on a mortgage each month can be much more worthwhile for many people than paying rent (which is essentially just paying someone else’s mortgage for them). property

So it is a good step to take for many people. It can mean some more financial freedom and knowing that you now have an asset against your name. In spite of all of this, it can still be a pretty daunting experience. To start with, there is a lot of information to process; where do you start?

The key to starting the journey to homeownership is by prioritizing. You shouldn’t try to take on too much all at once. You also shouldn’t try to take too much on. Ask for help from those people around you if you need it. Certain things in the process will need more of your attention than other things.

But with some time and organization, everything will sort itself out. So with all of this in mind, here are some of the steps to take and how to approach getting your very first home. I hope that it proves helpful to you as you take this big life step.

Shop Around For Mortgages

There are so many different lenders and mortgages that you can take out. But when you consider a housing loan there are a few factors to consider. First of all, you need to check the fine print of the mortgage.

Will there be an introductory rate to start with and then after a certain amount of time will the rate of repayments go up? Will the interest rate change? You need to know what you will end up paying out specifically so that you can budget accordingly. You don’t want to sign up for something and realize there is nothing you can do about it until things are too late.

Don’t Do It Alone

If you have a partner that you are buying a home with, then it can help when you have any concerns. If you are buying a home solo, then don’t try to presume that you can do it all yourself. Hopefully, family and friends will be able to be there to guide you through the process and help you to deal with the paperwork or offer advice when it comes to the legal side of buying a house.

They can always be called in to help on moving day too, right? It is also of paramount importance to be working with an estate agent that you are happy with. They will be paid quite handsomely for doing their job, so you need to make sure that you use them accordingly.

Call or email them with any concerns or queries and ask for their advice. They can advise on specific areas if you are moving somewhere new, or if you are looking to buy, then can help suggest the right conveyancing person to speak to. Buying a home is a big investment, so you don’t want to feel unsure of anything, or like you have unanswered questions.

Location, Location, Location

There are several factors to take into consideration when buying a home. One of the most important ones is the location of the property. Even though you won’t be thinking of selling it right away (you’ve only just moved in). You need think about it’s resale ability.

As a home is an investment, and you never know where life might take you, the chances of being in that home until you’re retired are going to be quite slim. So you want to get a good return on that investment, right? So although you will be looking at the size of property that you want, and it’s access to certain places or things, you need to take into account where it is located.

Look at schools in the area, access to public transport, and other factors that can be a selling factor for other people. Looking at the neighboring roads is a good idea too. You want to end up with a home on an amazing street, rather than an amazing home on a bad street if that makes sense?

So do take your time when choosing. It can be easy to get caught up with making an offer as you think someone else will snap it up. But if it goes, then it wasn’t for you. Take your time!

Do Your Research

There will be a lot of research to do when you’re buying your first home. One of them is as above; location. But you also need to look into the area and the properties around it. Have any of them sold recently? If so, how much did they go for? When you look into this kind of thing, it can make a big difference to what kind of offer that you will make. You don’t want to make an offer over the amount if you don’t have to. You want to make it competitive, but also reasonable for you and what you can afford.

You should also do some research into the home itself. There is nothing wrong with asking how old things are and what work it has had done on it. You don’t want it to have any structural damage or problems like damp.

So make as many appointments to view the house as you would need, as well as asking a lot of questions. You also need to take time with a survey or conveyancing solicitor. It can make a big difference to the whole process and helps to ensure you are making a good investment.

Plan a Timeline

When it comes to moving house, it does need some military precision organizing (or at least it can feel like that). So plan out a timeline. At what point will you start looking to get approved for mortgages, as well as when you will look to move? Having it all planned out can help the process run much more smoothly. So it is worth taking the time to do it.

Research Renovation Costs

It is rare that we find our dream home just as it is. Quite often we will need to make some changes, even if it is just to the color of the walls. But that does all need to be factored into the moving costs.

How much will a whole kitchen cost to renovate, for example? If you don’t have any savings of your own to do it, then will you add it into the home loan that you’ll be asking for? If so, you need to be quite specific. So if you find a house with massive potential, but that needs to be renovated, then be specific with the costs of it.

Then when you approach a bank or mortgage lender, you can present to them what you aim to do with the house. Quite often these kinds of thing can add value  so it can end up being a good investment for all involved.

Are there any other things that you think are important to consider when buying your first house? I should also add that it is important to see buying a home as a business decision. Take all emotion out of it, and you’ll make much wiser decisions, which will help you to make a better investment in your home.

The Tricks Of Real Estate

propertyReal estate is a tricky business. Yet there are Certain tricks that can make it easier for yourself as an investor. New investors can often struggle, and there are certain mistakes that you simply would not want to make because they cost not only money but time too which is often vital to the good real estate investor.

These tips can help you find your footing, and make the most of your chosen profession.

Real Estate Agents

In the first instance, you want to be able to benefit from the knowledge and expertise of others. You may go far and wide in your pursuance of a good real estate and in these case, you would be better off speaking to local real estate agents. They know the area and you can get all kinds of local knowledge from them. They know what sells and what doesn’t, what works, what increases the value of a home. You may think you know this but the fact of the

They know what sells and what doesn’t, what works, what increases the value of a home. You may think you know this but the fact of the matter is that this is different in each town or city. If you wanted to invest away from home then you should check in with one of the bigger estate agencies. You may even find a great investment with them.

Tradesmen

Keeping with the building of relationships, you need to get in with tradesmen. If you like investing in the same city, which is often the valid route to success, then you will soon grow to know many tradesmen. It is these who pile the value on the home you have bought.

You need to use them for lots of things, yet ensure you pay lower amounts so it doesn’t eat into your profits by too much. One of the ways to make this work is by going into a partnership with the tradesmen.

Also, once you have built your list of tradesmen and keep using the same ones all the time you could potentially ask for better prices or get more work thrown in for similar prices. The fact you offer guaranteed work will go a far way. Link with tradesmen and your job will be a lot easier.

Market Research

The best trick is research. You need to research every aspect of your investment because if you don’t you will find yourself open to loss of investment or a low return. Buying a house in a particular street? Raid all the information you can and find out what similar houses in the area are selling for, particularly ones which have been taken up by investors.

You can see from this how much you could get in terms of profit. Check building schemes. Is there something being built nearby which will affect the value of your home? These are all things you need to consider. Check the local amenities too. The more you know the more of an informed decision you can make.

The Secret To Smart Investments

The biggest fear when investing your money in anything is that you’re going to lose out on a huge sum of money. In fact, even making a small investment which goes awry will sting, as it’s money lost, all the same.

Stocks can fall or markets can crash, and trends can quickly change. It’s no wonder the word ‘investment’ has become irrecoverably tied in with the idea of gambling. There is risk tied to investment, of course, but there are ways to invest wisely and rationally, unlike simply gambling your money away in a game of chance.

business-idea

If you want to invest your money smartly, the key is to invest in low-risk but high-reward opportunities. Whilst this may seem obvious, the safest routes don’t always seem as potentially lucrative as riskier investments on the surface.

However, patience and a rational mind which always thinks ahead can help to make far more money off your investments in the long run without the same level of fear that you’re going to lose a large chunk of your hard-earned cash. Here are some investment tips if you’re not sure where to begin.

Gold.

This is probably one of the safest investment ideas imaginable. In an economy of unpredictability, investing in stock can either be the smartest investment of your life or leave you high and dry. Patterns fluctuate, goods stop selling, and all manner of things can go wrong.

The smartest investment you can make is one involving a good such as gold which never depreciates in value. As a valuable resource in itself, given that gold mines aren’t littered at every turn, gold is the kind of comfortable investment that could serve as a cushy safety net for you in the future. Of course, you need to ensure you buy from a reputable dealer and that it’s the type of gold you could sell one day if you needed to.

Real estate.

If you’re more of a business-minded individual, perhaps you prefer an investment which offers something back as the result of your own hard work; perhaps you like to earn a return on your investment, but in a far more lucrative way than any nine to five job could ever make possible.

You might want to look into real estate, as the property market is one which favours those with patience and bravery. This industry might require a learning curve, but once you’ve sold or found a tenant for your first property, you’ll find that it’ll be far easier to expand outwards with your new cash flow.

You’ll need to constantly be watching the market to see whether the property is appreciating or depreciating in your area. This is an industry which depends on good timing for success. Essentially, this game requires a determined individual who doesn’t mind getting stuck in to renovate a property in order to increase its value and maximize on the return for their investment.

Save money.

I’m not suggesting you stop spending money on nights out or treats now and then, but the easiest way to invest in your future is to be strict and force yourself to save a set amount of money per month.

The reason so few of us have a reasonable sum of savings has nothing to do with our salary and everything to do with our obsession involving spending. You could regularly set aside a certain amount of money to pay your debts or you could put some money into a savings account to help curb bad spending habits.

We love to consume, as that’s what our society tells us to do, but we don’t have to spend the entirety of our disposable income. Spend less, and save more.

4 Ways To Sell Real Estate

 

real estate

Got a property you’d like to sell? There are multiple ways to flog real estate that investors, in particular, ought to be aware of. Here are some of those methods – along with the pros and cons.

Go through an agent

Most people selling their property will go through an agent. The pros of this are that you’ll receive professional marketing for your property, exposing it to a far greater audience than if you were to sell via any other method. Real estate agents, however, do charge an agency fee to the seller, which can make the price of moving that extra bit more expensive.

So, which agency should I choose to help sell my house? If you’re going down the agency route it’s worth noting that there are all kinds of agencies to fit all kinds of properties. Some may specialize in commercial buildings, some may specialize in low-end properties and others may focus on the luxury end of the spectrum.

There are also real estate agencies that work exclusively online, whilst others have a high street store. Do your research first by looking at the other property they deal with on their site or social media page.

There are also real estate agencies that work exclusively online, whilst others have a high street store. Do your research first by looking at the other property they deal with on their site or social media page.

Sell directly

Cutting out the middleman and selling directly is the second favorite approach. Here, you won’t have to pay that extra agency fee, although you will have to handle all of your own marketing. Not opting for an agent also means that you have to host all your own viewings, which may mean booking time off work or only accepting viewings at certain times.

Selling directly is ultimately a lot more work, but if you have experience in marketing you may not have much problem with it. You’re worth using a listing site – some of which require payment but won’t be anything as expensive as an agent.

Go to an auction

Property auctions are a great way of getting rid of those hard-to-sell properties. Once the hammer falls, the buyer is also in a legally binding contract which means they must pay the deposit there and then and cannot pull out – whilst buyers may have more freedom to pull out via an agent or selling directly.

However, auctions do have a lot of financial cons. For one, you have to pay commission, which is often 2.5% of the property’s value, regardless of whether the property sells or not. Secondly, you’re unlikely to make much of a profit, with many properties selling for 40% under their market value (people do go to auctions for a deal after all). This method should only be taken if you really need to shift a property quick.

Swap your property

A method that’s still relatively new but is increasingly becoming more popular is swapping your property directly for another one. This can limit your options, as you need to find someone else who is happy to do the swap, but can cut out most of the fees of other property selling methods.

Experienced real estate investors may be able to use this technique to buy a property for a bargain price and then flip it at a much higher price, making a tidy profit.

3 Forms Of Real Estate You Should Consider Investing In

 

real-estate-investment

 

Real estate is the way to go for aspiring investors. It’s one of the safest investments you can make, and as long as you take care of your investment, you can make significant returns. You can use your real estate for many purposes and often use it as a stable source of income.

When most people think real estate, they think of houses. But there are different types of real estate you can invest in- residential, commercial, and land. What’s more, these various forms of property can also be split into sub-types. The type you should invest in depends on the purpose of your investment. You can also put money into multiple types to expand your portfolio. Here are the forms of real estate investment to consider.

Residential Properties

Residential real estate is the most common type of investment people make. It often starts by buying a home. Over time, your house can become more valuable and make you more money when you sell it.

Residential properties come in many different forms. You could invest in a single-family detached home, a duplex, a townhouse or even an apartment. Usually, family homes make the best investments. No matter what kind of property you’re looking for, it’s worth investing in a valuable area. Look for real estate listings in desirable locations- property prices can rise a lot in these kinds of areas.

Your home isn’t the only residential property investment you can make. In fact, many people buy multiple properties with the intention of renting them out or selling them at a profit. Make sure you make smart investments and look for tips on surviving in the property market.

Commercial Properties

Commercial properties are buildings and units used for business purposes. That includes stores, restaurants, offices, and other company buildings. A common subtype is industrial properties. These are large buildings used in sectors such as warehousing, logistics, and manufacturing.

Investing in a commercial real estate is useful for anyone looking to start a business. The location is often the most important factor here. Retail stores can benefit from being in popular shopping areas or tourist spots where many people pass by. Warehouses and factories often have large properties on industrial parks.

Starting a business isn’t the only reason you might want to invest in commercial real estate. You could also buy a commercial property with the intention of renting it out. Businesses often move premises, so offering yearly rents can be helpful. You could also use a large building for creating office units and get many renters.

Plots Of Land

Instead of investing in a building, some people simply invest in land. It can be a practical investment, as it doesn’t require any extra costs and there aren’t many maintenance concerns.

You can use land in many ways. Open fields make prime locations for building a farm. You can also use plots of land for building outdoor businesses like camp sites or adventure parks.

You can also buy vacant land in urban areas. You can build any kind of property you want on the land you own. You can also use it for creating car parks or garages for people to rent.