Posts Tagged ‘buying a property’

Like many first home buyers you are probably wondering about the First home owners grant for investing in real estate. Am I eligible and how much will I get? Due to the current financial crisis there have been some changes to the grant for investing in real estate that are very beneficial for anyone who is thinking of making their first real estate investment. In fact the government has just doubled the grant for investing in real estate. The $7,000 grant has risen to $14,000 whilst the $14,000 grant has been increased to $21,000. Let’s have a look at the different types of grants for investing in real estate and the history of the first home owners grant and real estate investing.

The Grant for investing in real estate (first home owners grant/scheme) was first introduced in 2000 in an attempt to help first home buyers make their first real estate investments or buy their first home. In reality the grant simply offset the taxes that home buyers need to pay when buying a property. In its original form the grant for investing in real estate was set at $7,000 – how things have changed of late.

How Much Will I Get?

Currently all first home buyers who are purchasing an already existing property will be entitled to a grant of $14,000. If you are purchasing a newly built home or build your own property you will be entitled to $21,000. For the first time in the history of the first home owners grant the new home owners may be able to use some of the grant money to pay for their property rather than just use it to pay for the taxes.

Am I Eligible?

The eligibility criteria of the grant for investing in real estate is pretty straight forward. You (and your partner) must not have received an Australian home buyer’s grant before. You (and your partner) must not have owned residential property prior to 1st of July 2000 in Australia. You (at least one person) must be an Australian citizen. You must be a real person eg. Not a company. Finally you (at least one person) must occupy the house for a minimum of 6 months commencing within the first 12 months of purchase.

This last criterion is the most important if you are thinking about claiming the grant for investing in real estate for an investment property. This definitely doesn’t mean that you can’t get it you just need to be smart about it. Many property investment courses say you can’t use it for an investment property but this is simply not true. One of the best property investment tips I ever received was to use the first home owners grant for an investment property that needed some small renovations. I went to a property investment course that taught me about the best ways to renovate for capital gains and then used the grant for investing in real estate to pay my mortgage for 6 months whilst I renovated the property. It was the perfect way (and still is) to get into the investing property world.

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Author: Banjo Smyth
Article Source: EzineArticles.com
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Many people are speculating that now is the worst time to invest in real estate. There are heightened fears of a recession, the global credit crunch means that people are tightening their belts and the cost of living has increased substantially.

However, despite these concerns, real estate continues to be a solid investment. People will always need a place to live for a variety of reasons including the increasing demands of immigration, divorce rates, people seeking greater independence at a younger age, students needing somewhere to live close to their place of study and the high cost of getting on the property ladder. This is a great opportunity therefore to supply real estate to meet the needs of the rental market.

Real estate investing during a recession is just as easy as investing during a period of economic growth. Property prices are much lower and there tend to be a number of cheap foreclosure properties on the market. This means that there is a real opportunity to make money in real estate but the strategy during a recession should be seen as a long-term investment rather than relying on short-term “flipping” investments.

“Flipping” which means buying a property, carrying out renovations and selling it on quickly for a profit (usually within a 3 – 18 month period) was a very easy and profitable way of making money a couple of years’ ago but is a strategy which is full of holes in today’s market. Less people are buying property today and those that are buying are paying much less than the asking price and you could find that you actually lose money rather than make any profit. Real estate investing requires a long-term view (about 2 – 5 years), because any properties that you invest in now whilst prices are cheaper, will see a steady increase in their value over time in the coming months and years.

So, what are the factors you should look out for when investing in property over the long-term?

Decide your strategy

If you want to appeal to young professionals, one or two-bedroom apartments are ideal in an area close to bars and nightclubs, and to transport links to get them quickly to work. If your strategy is to provide homes to families, a 3-bedroom house with garage space, close to schools, parks and supermarkets may be ideal. Deciding your strategy beforehand will make the process of investing much easier.

Decide where to invest

Is the investment in an up-and-coming, highly desirable area? There must be accessible amenities nearby such as shops, bars, schools and supermarkets. Notice whether there is an oversupply of newly built apartments or houses in the area which are empty or taking a long time to sell or rent out.

Do your research

Learn how to value property. What are other properties selling and renting for in the area your interested in? Speak to estate agents (but don’t rely on them) to get the best possible understanding of the real estate market in the area. Do the investments you are considering add up? Research, research and research again and carry out your own due diligence in order to make sure you are investing in the right property, in the right area at the right time.

Rental Property & Equity

This is the key to real estate investing over the long-term. Rental properties can generate passive income almost immediately, although this will probably only be a small amount of profit each month. Although you can’t expect to get rich on the profits of one property, five or more investment properties all bringing in a small amount of profit each month will soon add up to a comfortable income. This profit comes in handy when it comes to maintenance repairs for each property or to cover periods when a property may be empty. The real riches comes from building equity over the long-term which you can release over time to enable you to buy additional investment properties.

Remember, this is a business

You should treat your real estate investing as a business, which means you should not get attached to the property, which is quite common, especially amongst first-time real estate investors! It’s a mistake to become too personally involved in your property. You should not consider your own personal requirements, but those of the future inhabitants.

The real estate market is full of people who are driven by greed and fear. There were people who were jumping in with both feet during the real estate boom times because they wanted to get rich quick, but they lost a great deal of money and their investments during the leaner times because they hadn’t carried out the necessary research and due diligence needed to be successful whatever the climate. Taking the long-term view in real estate investment will ensure that you are successful in periods of recession as well as during periods of growth.

Caren Henry writes on marketing and business related issues. Learn more about investing in real estate by visiting her site, Real Deal Investing, at http://realdealinvesting.blogspot.com

Author: Caren Henry
Article Source: EzineArticles.com
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Now more than ever, real estate investing is gaining its popularity because of all the advertisements and promotions of magazines, newspapers and television shows. These are huge exposure for real estate investing.

If you are one of those who are fascinated with real estate investing and you have decided to try Sarasota real estate investing, you should know that there are factors and things that you should consider and know before you start with this kind of business.

Real estate investing is not as simple as buying a property, it requires lots of work, time, effort, skills and knowledge. But if you are really determined to go on into Sarasota real estate investing, you have to equip yourself with the necessary knowledge and information about real estate investing and the market.

If you are wondering on how you’ll gain knowledge and information about real estate investing, there are lots of ways to do so. You can use the internet in finding information; there are heaps of websites that offers tips and guidelines about real estate investing. You can use your yellow pages and contact some investors and ask about their experiences, you can learn from these investors’ experiences.

Read books about real estate investing, this can also give you the proper knowledge about real estate investing. Attending seminars and forums can also help you gain knowledge and information about real estate investing. These are few of the ways to learn.

Hiring a real estate agent can help you in your quest at Sarasota real estate. Actually, real estate investing requires lots of work, so you really need persons to assist you with your quest and real estate agent is one of them. But you need to make sure that you will be having a real estate agent that is very familiar with the Sarasota real estate market in order to assure that the agent can assist you in having the best deal.

Allocating time in searching for the right real estate agent is important. You have to contact several real estate agents and schedule each for an interview. Ask the necessary questions in order to find out who’s the best among the few real estate agents.

You have to learn about the market as well. In order for you to know what the right things to do when the market changes, since it is a fact that the market changes every now and then.

Allocating budget for your investments is very important factor as well. You must have save money in the bank before you enter real estate investing, since you need money for repairs, and so on.

If you really want to enter Sarasota real estate investing, these are few of the factors you need to know and consider. But do not rush things out. You can’t be successful overnight. Sarasota real estate investing is not a hobby; it is a business, so you need to treat it as one. You have to wait till 6 months to see if you are really into Sarasota real estate investing. If you like what you are doing, you have to know that it takes a year to be successful in this kind of business.

Eliza Maledevic Ayson

http://www.srqmls.com

Eliza Maledevic writes for http://Jump2Top.com – SEO Company

Author: Eliza Maledevic
Article Source: EzineArticles.com
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With the recent credit crunch and issues with sterling falling against other currencies, many overseas owners are thinking of selling rather than buying a property abroad. However, there is little advice and help out there to know how to do this successfully.

The Five Key Issues when Selling a Property Abroad: Selling a home abroad is very different to selling a property in the UK. We often complain about the ‘slow’ process here, but in fact versus other countries we are:

1. Quite quick at selling property
2. Our estate agents charge less than MOST others in the rest of the world

One: It may take two years or more to sell your property. If you are in rural France, people don’t move very often and most property is passed down from one to another generation. As a result, it can take years rather than months or even weeks to sell a home, so before you decide to sell, make sure you understand how long it will take so you can plan ahead.

Two: The legals: It’s important to be sure that all the legal paperwork is in place for you to sell the home and that you understand how property is transferred from you to another party successfully. You need to know who to involve and be around for any paperwork that needs to be signed.

Three: Who should you sell through and who should you sell too? With the internet offering to ‘sell your property for free’ it’s easy to be drawn into these services in the belief they will do the job for you. This might work if your property is likely to be bought by another Brit, but unlikely to work if you could sell to the local market.

Typically a local agent, and/or an agent that is established locally but also has an international arm such as Savills or Hamptons allows you take advantage of both markets and will help you value the property correctly too. You may have to pay up to 10% to an agent to sell a property, but if they do it you still bank 90% of the money, which may be a lot better than banking £0 because you advertise somewhere that costs nothing too.

Four: Currency Exchange Issues With current market uncertainty, currency fluctuations are rife. The £1 against the $1 for example has fluctuated from £1 to $1.96 in January 2007 and in September 2009, was £1 to $1.68 but at one time went even lower! Of course a falling pound against a foreign currency might be good for you if you selling the property and own it in a foreign currency.

So it is essential before you decide to sell, visit sites such as Forecasts.org and talk to a currency exchange specialist to make sure you receive the best advice and if you need to fix an exchange rate you can.  However, do not go to your bank for this service, they will charge a lot more than a specialist will!

Five: Tax When you come to sell the property it’s likely that you will owe tax in the country that you sell the property in (in their currency) and then you may well have to pay tax in the UK too. It’s important to consult a specialist property tax advisor to make sure that you pay what you owe and have professional advice on how to mitigate your tax bill.

I am one of the UK’s top property experts being regularly quoted in the press including the Telegraph, Independent, Times, Daily Mail and Express and have appeared on BBC2, featured on BBC Radio 4, Channel 4 and a number of local BBC Radio stations. I have been a consultant to the property sector for a number of years and renovating properties for over 20 years. I have also written a number of books, including four for Which? – Buy, Sell, Move House, Renting and Letting, Develop your Property and the Property Investment Handbook.

For answers to all your property questions, contact me at Designs on Property on 0845 838 1763 or visit our website and blog using the links below:

http://www.designsonproperty.co.uk/
http://factsnotheadlines.blogspot.com/

Author: Kate Faulkner
Article Source: EzineArticles.com
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Buying a property overseas can be exciting and can also make you money. There is a vast amount of destinations to choose from.

Here we will outline 8 basic tips for buying overseas property that will help you find the property of your dreams.

1. Why are you buying?

Be clear of your major objective before buying your overseas property.

You need to decide exactly what you want the property to do for you.

Is it purely for a capital gain to a profit? Or is it for your use mainly as a vacation home?

2. Don’t rush

Don’t hurry or act on impulse.

If you miss one property there will always be another one later. Make sure you stay cool calm and collected and don’t rush into anything.

3. Get professional help

A good realtor and lawyer may cost you extra, but they can save you money in the long term and its money well spent.

They know the local market and the know the local laws and these are areas you will need guidance in.

The laws in many countries are very different from what you’re used to and you need to check all the facts and make sure you’re clear on what your rights are.

4. Do Your own Research

While you should have a good realtor and lawyer to help you, the final say in buying the overseas property of your dreams is with you.

So take advice but don’t take it blindly, make your own mind up and take your time to ensure the property is right for your needs – only you know them.

5. Select your location to suit your needs

Are you buying to get away from it all and immerse your self in the local culture or are you buying to be in a country and still have a large expert community around you?

The type of property you buy will reflect your personality and what you want to get from your investment.

6. Buying a property for investment

If you are buying a property and want it to appreciate in value, don’t go for cheap properties just for the sake of it.

This means avoiding countries where the market is yet to take off and buying one that has taken off and has room for further growth i.e. there is steady investment coming into the market.

New property hot spots come all the time and the sales patter sounds convincing but, most of these markets never take off and a loss.

If you want to make money with the lowest risk you should buy an established market that’s expanding and has good potential for more growth.

7. Buy a property in a place that is popular with locals

If you are buying overseas property as investment property it should be in an attractive area for investors of all different nationalities as well as locals.

This means when buying your overseas property you can sell quickly and at a good price, should you wish to do so.

These areas also tend to hold value well and appreciate over time.

Check out the shops, restaurants, and entertainment in an area. Most people who want to use a property as a holiday home will want to be near shops, restaurants, and other facilities.

Also check the transport how close you are to major airports etc

This is critical not only for re selling, but also if you want a rental income. Most people like easy communications especially in the rental market so check access carefully.

8. Check other developments!

Check other developments that are planned in the area around where you are buying your overseas property.

One day you may have a stunning beach view and the next year this could suddenly be a little different, with a huge apartment block in the way!

Think this doesn’t happen?

Well it happens to more people than you may think, so don’t take the risk check the planning in building that could go on near your property purchase and play safe.

When buying an overseas property, take your time and use the tips above and you are well on the way to buying the overseas property of your dreams – good luck!

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For more info on all aspects of investing in overseas real estate visit our website for a huge resource of articles, features and downloads and at http://www.net-planet.org/index.html

Author: Sacha Tarkovsky
Article Source: EzineArticles.com
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The town of Ciudad Quesada is a relatively new area located just 10 kilometers from the busy Costa Blanca south town of Torrevieja. The town is now one of the most popular in the area with thousands making the decision to buy and live there, also with business owners setting up business in this thriving little town.

You don’t have to go that far back to discover the short but successful history of Ciudad Quesada, Justo Quesada Samper had dream to build his own town on the Costa Blanca – and in the early 1970′s Justo’s dream was about to become true. Just in the past decade (1999) Quesada gained town status, opening the Ciudad Quesada town hall, along with its town status came other awards.

The location of Quesada is perfect for those whom like to explore, moving from village to village to experience the Spanish way of life, or even for those that prefer to sit back and forget about the busy day to day world and enjoy their holidays.

Quesada Surroundings

The main attraction in the area is Torrevieja, being the biggest town – Torrevieja has plenty on offer for those that live here permanently or for those that are spending their holidays in the area.

The nearest villages that surround Quesada that are notable are Rojales – which is located just behind the golf and country club, Guardamar – which is a short drive away (nearest beach point), Benijofar and Los Montesinos.

Quesada is known for its position, build up on a hill over looking the famous salt lakes in the area with a stunning back drop of the mountains in the background, a real mix of luxury villas to apartments and townhouses – no matter what your price range is when buying a property, there is something for everyone. When coming from Torrevieja towards Quesada, the bright white buildings really catch your eye – you simply can’t miss Quesada.

The forever popular Quesada has seen the town expand in recent years, with numerous new developments and urbanisations being added to all sides of Ciudad Quesada – it can’t be seen as a small town any longer. There is a real mixture of permanent living residents to second home owners, Spanish nationals to expats from the UK, northern and central Europe – a nice and interesting place to be!

Inside Quesada

Whether you are a resident or simply there on holiday, there is plenty to do see and do all year round, on sundays there is a market for those that enjoy bargain hunting or just browsing and many others within 10 – 15 minutes drive from Quesada. Like many of the towns and villages in the area – a golf and country club is on hand for the golf lovers, numerous other sporting clubs are available, dozens of bars to enjoy a drink in the sunshine, many restaurants with a wide range of cuisine on offer, local shops including supermarkets, clothes shops, electronic stores, hair and beauty from the ladies! Banks, petrol station and many other local services on hand when you need them.

There are many different urbanisations that build up Quesada with different entry point to the town centre, however – the main entrance into Quesada known to everyone as the “arches” is the main focal point of the town and is home to the main bars, restaurants and businesses – the arches are very stylish and are a well known monument of Quesada.

The main fiesta or party of the town is held at the end of July – a really exciting time for all with a parade that goes through the town, dancing and drinking until the very early hours of the morning – great celebrations and an unmissable event if you are in the area.

Property in Quesada

Generally, property is Quesada is reasonably priced when on the market, however – with the world credit crisis (as they like to call it!) – there are more and more bargains available on the market which serious buyers are snapping up very quickly.

As we have mentioned before, there is a real mix of townhouses, villas, apartments and bungalows with properties to satisfy all budgets.

Quesada is a vibrant town and if you are looking to move to the Costa Blanca south – Quesada is definitely worth a visit to see if it is for you.

Take a look at our properties in Quesada for sale – take the step and live the dream in Spain like many happy buyers have done. Before you look anywhere else – look at the Resale Centre, the longest established English Estate Agent in Torrevieja town centre.

Low commission Estate Agents with dozens of bargains for sale in Quesada.

P.S. Find out how to save paper money from inflation – silver bullion bars will help you.