Tag Archives: Property Renovations

Make Buying Real Estate Enjoyable

Buying real estate has many benefits. For those wishing to find a residential area to live in, they are many opportunities. For those wishing to find property to sell, they can make money. The tips in this article will show you how to successfully buy real estate like a professional.

Buyers have several options to obtain a property below market value. One way is to buy pre-foreclosure real estate. When the owners default on their properties, they can sell it before the bank forecloses on them. In most cases they are willing to sell them much cheaper than the market value, which is a significant gain to the buyer.

Shop around for the best financing. If you have determined a specific type of financing for your investment property purchase, it is imperative that you talk to multiple lenders. This is particularly true for first time investors, because it is the only way to ensure that you are getting the most competitive rates and fees. One tip to remember is that not all lenders are created equal, just like no two borrowers are exactly alike. Compare traditional lenders with private financing companies and possibly even investor groups in order to determine the right fit for you.

Do not rely solely on the real estate agent to show you properties when looking to purchase real estate. You can get a good idea about what you want and how the market works by checking out home listings via newspapers, magazines and the internet. Stay as informed as possible when looking to purchase property.

Think about what improvements you will want to make to your new home right after you take ownership of it when determining your budget. You want to be sure that you do not use up all of your savings toward the purchase of you home if you plan on painting, changing the locks, or some other basic improvements.

When starting out with a real estate agent, set expectations on communications from the beginning. You and your agent should have a realistic idea of how often you’ll be talking with each other, in order to facilitate your relationship. Make sure you both know the kind of communication method you’d like to use, as well.

If there was an addition done to the home, make sure it was done legally and with a permit. If it wasn’t, you may be required by law to pay fines on this or bring the home up to code, even if it was done before you bought it. An appraiser can usually help spot illegal additions.

Most new home owners spend a significant amount of money renovating the new home. For example, they may want to remodel the kitchen, or install a new bathtub in the bathroom. If you are looking to buy a new home, and have found a property that you are interested in purchasing, try to identify what kind of renovations that you will want. You should then negotiate to have the seller pay for and make the renovations for you as part of the purchase agreement.

In conclusion, there are many benefits to buying real estate. Real estate salespeople can buy property to sell for profit, while home seekers can find an affordable place to live. By using the tips from this article, you can buy real estate no matter if you are a salesperson or a home seeker.

Getting The Most From Your Real Estate Budget (3)

Getting The Most From Your Real Estate Budget

Bathroom by Michael Nash Design, Build & Homes
Source: Flickr

The over-saturated housing market can be the perfect market for buying the house you have dreamed of, at a price that you can afford. This article can help you decide if this is a good time for you to jump into the real estate market. By doing homework, it can really pay off.

Check out your new neighborhood. See what kind of people live nearby, visit the grocery stores, and see if there is some sort of community organization. The more knowledgeable you are about the place you may be moving to, the better informed you will be to help make your decision. Ask yourself if you can see living in this neighborhood.

One important tip when it comes to real estate is to not be afraid of making a large purchase. This is important because as long as you have done your research, this may be an extremely lucrative opportunity for you. Instead of throwing your money away into a rental property, you are possibly putting yourself in the position to profit.

See and if there are any sex-offenders living in the neighborhood. The NAR, or the National Association of Realtors, says Realtors are not responsible to keep track of any offenders, so it’s your job. You can easily check on the National Sex Offender Public Registry which contains all national listings of sex offenders. However, most Realtors will answer you directly if you ask.

Consider purchasing a property by assuming the original mortgage amount through refinancing. Then, borrow a second mortgage loan for the difference between the discounted selling price and the remaining mortgage balance. The payments will be significantly lower on the refinance than they were on the first mortgage. You can then turn around and sell the property for a higher price, paying off both loans immediately and generating a substantial commission.

Location is a big part of the real estate selection process. Look into the surrounding areas as much as you do the features of the home. Find out how much of a distance you are going to have to travel to work. Get information about shopping, law enforcement, hospitals and doctor’s offices, day-care and schools and the traffic and parking to be sure it will be convenient for your family.

Most new home owners spend a significant amount of money renovating the new home. For example, they may want to remodel the kitchen, or install a new bathtub in the bathroom. If you are looking to buy a new home, and have found a property that you are interested in purchasing, try to identify what kind of renovations that you will want. You should then negotiate to have the seller pay for and make the renovations for you as part of the purchase agreement.

As stated above, investing in housing in a shaky real estate market can still be a good investment. It can be the perfect time to buy if you are properly educated and have the money to go for it. By following the advice in the article, you may find that you are able to get the house you have always dreamed of.

Getting Value Out Of Property Renovations

Getting Value Out Of Property Renovations


Most homeowners assume that remodeling their kitchen can significantly increase the value of their home, but fewer homeowners recognize that the increase may depend on the degree of remodeling and the costs involved.

Cost does not necessarily equal value. “Not every renovation will pay off at closing,” says Richard Powers, MAI, SRA, President of the Appraisal Institute. Powers offers a few dos and don’ts of home improvement that may help consumers sell their homes for more or more quickly:

• Don’t overimprove. Look for what’s standard in the neighborhood. Adding a deck might seem like a good idea but if no one else in the neighborhood has one, you may not see a return on investment.

• Do invest in basic upgrades. Fresh paint (stick to neutral colors), new fixtures, flooring and lighting in kitchens and bathrooms can pay dividends.

• Do consider adding an extra bathroom. Homeowners can often recoup the extra cost of a bathroom at closing because of the appeal that extra bathrooms have for homebuyers.

• Forgo the swimming pool. Pools generally turn off more people than they attract because of the perceived upkeep and insurance costs and the fear of liability.

• Enjoy your renovation. Why wait until you are ready to move to have that new kitchen? Generally, a new kitchen will hold its value for one or two years.

• On all these projects: Those that add square footage to bring a house up to-but not beyond-community norms generally pay off the most.

To help you get value out of your home improvements, consider consulting with a designated member of the Appraisal Institute. Those members with an SRA designation have experience in residential valuation. Those with MAI or SRPA designations are knowledgeable about commercial property.

When discussing home or business renovation, a professional real estate appraiser can advise you on how different improvements can influence property value. If the renovation is considered major, the appraiser can complete a feasibility study-an analysis of the property, the cost of rehabilitation and an estimate of the property’s value after improvement.

Your Guide To Home Improvement Success In This Era. The Best Tips Available!

If you are not a professional home improvement worker, there is always information that will help you complete your jobs. If you lack some knowledge, the improvement could turn into a catastrophe. This article will provide you with information that will help you defeat what used to be challenging home improvement ventures.

Take advantage of a small bathroom space by getting great deals on remodel materials. For example, your limited countertop and flooring needs translate to a higher likelihood of you finding both countertop and flooring remnants that will work at your local DIY, bathroom or carpet store. These remnants are still brand new but come at a steep discount thanks to their fixed dimensions.

Major home improvements to a property such as erecting a garage or installing a pool may require permits and permission from your local Council before the work is commenced. If you are not sure of the local regulations or are planning on undertaking structural changes to the property, hire a professional to assist you to avoid costly mistakes or fines at a later date.

When you are selecting a paint color for your home, be sure to make use of a light box or the sample cards at the hardware store. Many paint colors appear different under natural lighting, fluorescent lighting (common in most retail establishments), and incandescent lighting. You will be happier with your final choice if you make sure the color is what you expect once you take it home.

When home renovations become part of your real estate plan, always pad cost estimates. No matter how expert the person is who gives you the estimate, you must include a safety margin. Even a contractor’s overall estimate – which usually comes with its own contingency factor – should have a second margin put on top of it. Renovations almost never come in on-budget, so you should try to be prepared.

When it comes to home improvement, be sure to consider the best option for exterior lighting. This is important mainly for energy consumption, as motion detectors will ensure that light is provided in the specific areas only when absolutely needed. Otherwise, leaving a light on overnight will add up over the course of a year.

To silence a toilet that runs intermittently or has a slow trickle into the bowl, check the flapper and flapper seat in the bottom of the tank. Clean the lip of the seat to ensure that mineral build-up isn’t preventing the flapper from seating correctly, and replace the flapper if it seems worn or cracked.

If your shower and bathtub seem to be building up mildew, or leaking a little bit, it may be time for you to re-caulk. Removing your old caulk and putting in new should actually be done once a year as your typical bathroom maintenance. You can purchase calk from any hardware store for a very reasonable price.

As was said earlier in the article, home improvement can turn into a great catastrophe if you do not have the knowledge necessary for some of the jobs. Now that you have the knowledge, apply it to your specific needs of home improvement. Don’t let setbacks get you down, trudge through and the practice will make you better.

Home Makeover Finance Solutions

Home Makeover Finance Solutions

What botox is to people, home improvements are to a house. Hence, a lot of people choose to go in for home improvements as preparation for some major family event. It could be a birthday, or festival, or maybe a wedding. In fact, weddings are usually a great excuse to give your home a facelift. While other smaller festivals warrant smaller improvements like maybe changing the curtains or getting new sofas, an occasion as huge as a wedding may be worth much greater improvements. This could range from getting a paint job done to changing the bathroom furnishings to swanking up the kitchen to getting in new furniture.

Home improvements are a great way to alter the look of your home. If you are finally being able to afford the changes that you always wanted to get done, you might be looking at remodeling according to Feng Shui rules. Apart from having a house which looks wonderful, effecting home improvements could also improve the value of your house. Given that most people buy houses because of the investment potential, having home improvements done would help you get a better price on your property, if you found that you would have to sell. So investment-wise also, renovations bode well.

The question that now arises is: What will your budget permit? Depending on the amount of savings that you have collected, you could decide to tone down on the renovations that you have your heart set on. At the same time, if you have been wishing for full-fledged renovations, you could go in for a home improvement loan. Although these loans are relatively new entrants in the loan market, they have steadily risen above the popularity charts. Thus, more and more people have begun to avail of home improvement loans to take care of these renovations in preparation for the wedding day.

Such loans come in two avatars. They may be secured homeowner loans or unsecured loans. Most people go in for secured homeowner loans because these loans are a whole lot cheaper. Because of the presence of collateral in the deal, lenders are willing to risk more by offering borrowers more competitive prices and rates. If you want a really cheap deal, it is best to look at the secured variety of home improvement loans.

However, if you are feeling uneasy about placing your property as collateral for the loan, it will be advisable to seek out some unsecured loans to fund your home improvement needs. The great thing about these loans is that if you are unable to repay a loan, at least your house will be safe. The best bargains may be found in the case of secured loans, but this does not mean that all unsecured loans are unnecessarily expensive. Some great deals can be unearthed if you scour the markets.

If you are at sea regarding where you should be looking, you could try the Internet as you start out. You could, in fact, make use of a website that will allow you to compare a number of great deals.