Posts Tagged ‘Home 1’

It’s a well known industry fact that those who buy a new build, tend to stick with new builds, but why do some people only buy a property that’s just been built, especially when you are likely to have to pay a premium!

However, with gas, electricity and water bills getting higher and higher and the pressure to become more ‘sustainable’, more people are turning to new builds instead of buying a second hand home.

1. It’s nice to think this is YOUR home and YOURS only!

Wouldn’t it be great to live in a home that no-one else has ever been in? Make your own mark? Be the first to use the kitchen and bathroom? For some people, the only home they can buy is one that has never before been used.

2. Sustainability

New homes have to be built to certain standards which reach strict government guidelines to ensure that they are energy efficient. This includes well insulated walls and floors; double glazing; energy efficient heating; draught proofing and energy efficient appliances and light bulbs. As a result, new homes are better for the environment.

3. Lower utility and maintenance bills

It’s estimated that new homes are six and half more times efficient than second hand homes, potentially saving you hundreds of pounds on your running costs every year. Annual maintenance on new appliances, such as boilers and painting costs etc should be lower too, depending on how well the property has been built.

4. Short chains and part exchange

The average number of homes in a chain to buy and sell is seven. Buying a new build can cut that chain down dramatically, reducing the stress of moving. It is also possible to buy a new build and sell your own property at the same time via a part exchange scheme where you buy the new build and the developer buys your property and sells it on.

5. Fit it out to your own spec

If you buy off plan, it is possible to make sure that some of the property is built in a way you want it to be. For example, you might be buying a five bed house, but only want four and one of the rooms bigger. You may prefer a better spec kitchen or bathroom.

For more information on buying a new build home, take a look at our property types section and check out our eBook and factsheets.  Do you have a property question you want an unbiased and independent answer to?  Call us on 0845 838 1763.

I have been a consultant to the property sector for a number of years and been 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.

I am currently one of the top property experts in the UK and regularly quoted in the press including the Telegraph, Independent, Times, Daily Mail and Express as well as featured on a number of local BBC Radio stations.

Contact me at Designs on Property on 0845 838 1763 or visit our website and my blog using the links below:-

http://www.designsonproperty.co.uk/

Author: Kate Faulkner
Article Source: EzineArticles.com
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When buying vacation homes overseas there are a number of points to consider and here we will look at the basics.

If you have already have an idea of where you will buy your vacation home overseas or you are just deciding where you should, the tips below will help smooth the buying process.

You vacation home overseas can provide you with a holiday home, valuable rental income and also an appreciating asset that could make you wealthy so lets look at how to buy your perfect vacation home.

1) Research Your Location Before Buying

You need to do research and this means visiting and getting a feel for the area you wish to buy your vacation home in and find out exactly what its like to be there. Once you have done this you need to research the following in relation to your real estate purchase

1. foreign ownership of real estate rules,

2. property taxes,

3. Stability of country and political considerations

4. Investment and rental potential

5. The overall quality of life you need to visit for a few days at least!

2) Get Assistance

Finding a realtor able to assist with your search for the perfect vacation home could save you time, effort and money in the long run.

Most realtors make commission from sales so keep this in mind when buying real estate in a country abroad be careful as many don’t have to be licensed and anyone can call themselves a realtor but get a good one and its money well spent.

A local agent will understand their property market in depth and will help you buy the vacation property that suits you and relieve you of a lot of work.

3) The Rate Of Exchange

When buying overseas keep an eye on the exchange rates that can go for or against you. Exchange rates vary all the time and can have a significant impact on what you can afford

4) Legalities

Legal considerations vary as do land registry systems. In many countries title deed transfers are not registered which can make it difficult to prove you won the property. Get a lawyer. Like a good realtor its money well spent. Legal matters are complicated in many countries so don’t try and do it yourself – get an expert on your side.

5) Protecting & managing your home

Have a local management company look after your home. They can ensure the property is safe and if you wish to rent your vacation home when you are not their they can advise.

With your vacation home overseas it’s a good idea to rent as properties left by themselves can be a temptation to squatters or thieves. Make you sure you have insurance and that your property is looked after.
6. Why Are you buying?

If you have a favorite area for your vacation home overseas fair enough, if you are still looking you may want to pick a country where capital appreciation on your vacation home can make it a valuable asset. You get to enjoy your vacation home and make somec capital growth as well!

A Popular destination

A popular destination for many years has been Costa Rica for buying overseas vacation homes and this country just 3 hours direct flight form the US has it all.

It’s a beautiful, stable, peaceful, friendly country.

With fantastic nightlife and adventure sports, it offers same rights as residents on purchase, is 70% cheaper than the southern US states such as Florida and offers huge capital growth potential as well as good rental income!

If you are considering buying a vacation home overseas then consider Costa Rica.

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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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So…you have saved up enough for a down payment and you have done several internet searches of desirable homes in the neighborhood you are interested in. Where do you go from there? While there are many factors and details to consider when buying a home, there have been tried and true principles that have always guided shrewd shoppers in making the best home purchase. With a little time and attention, you too can reap the benefits of a wise home purchase that will pay off now and in the future when you get ready to sell your home.

1) Location, Location, Location. – This tried and true real estate mantra, that is as true today as when your great-grandparents were buying their first home means exactly what it says, buy in the best location you can afford. This general principle applies to the location in the neighborhood you are considering as much as it applies to buying a home that has the best location on the block.

1) Buy in the best school district you can afford. Even if you never plan on having children, buying in the best school district will improve the resale price of your home because your prospective buyers may have children and see that as the most important and desirable criteria in buying your house.

2) Avoid buying a home that requires extensive remodeling. You need to know the current value of the surrounding houses. Try not to buy a fixer upper that will require you to spend so much money remodeling it, that the expenses will price you above the comparative market value of the surrounding houses. Also, as a general rule, look for a home that has at least three bedrooms and is a little more modern in style. Buy an older home if it has a great design or an architectural style consistent with the surrounding neighborhood.

3) Buy the low to mid-level home on the block. Buying the best home on the block leaves less room for price appreciation of your house over time.

4) Try not to time the market. In spite of national media market predictions, due to divorce, job relocation, couples who are downsizing, and all of life’s various events, there will always be great deals that come on the market. If you are too anxiously waiting for the best market to buy in, you will miss out on the good deals that will become available in your local real estate market. To be sure you, might have to wait a little longer to find the right home that meets your criteria; but you’ll find it if you are diligent.

Of course there are exceptions to every rule, but abiding by these general principles to guide your home purchase, will make most home buyers satisfied they made those choices during their purchase, reduce their buyer’s remorse when they move in and proud of their foresight when it comes time to sell their home.

Nef Cortez has been a licensed real estate broker and has held various positions in the real estate and mortgage industry for over 25 years. If you would like to read more of Nef’s timely advice (with the latest FREE info on local foreclosures), visit his website at Chino Hills CA Real Estate or read his blog at A Slice of So Cal Real Estate [http://www.nefcortez.com/newhomes]

Author: Nef Cortez
Article Source: EzineArticles.com
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Thinking of selling your condo? Whether you live in the condo or own it as an investment property, if you’re ready to sell your home, it’s time to talk to a qualified real estate agent in your area. By evaluating several criteria, including regional markets, time of year, features of your condo unit, as well as your specific needs as the seller, he or she can create a customized marketing plan for your condo. Here are five important topics to discuss with your real estate agent if you want to sell your home:

1) Best Time of Year to Sell Your Home

The specifics of your area do more to determine the best time to put your home on the market than whether you’re selling a condo or a house. While the conventional wisdom is that spring is the best time for selling a home, this belief simply doesn’t ring true in every locale. In recent years the historic patterns have eased, and some in some cases, totally disappeared. Still, different parts of the country have periods when sellers can be more aggressive with their pricing. And your real estate agent may suggest a distinct timing strategy for condominium sales, especially if your condo is in a resort destination.

2) Open House Strategy & How to De-Clutter

A condo that shows well will sell faster and bring a higher price. Small cosmetic touch-ups can make a big difference. Buyers often suspect that more serious problems may exist if they notice the need for minor repairs. If you want to sell your home, it’s important to make sure your condo is clean, tidy and free of personal clutter. Clear sinks and counters of dishes and toiletries. Neatly stack office supplies and organize storage areas. Replace dim light bulbs and clean windows. Even though your garden area may be commonly owned, do your best to create curb appeal by cleaning front steps and porches, and clearing lawns of toys or equipment.

3) Features to Accentuate

One of the best features to accentuate when selling a condo is the lifestyle of ease that comes with condominium ownership. Many buyers are looking for the hassle-free living experience that they can’t find with a single-family detached house. Another important attribute of any condo is the amenities of the association, which can include a hot tub, fitness center, owner’s lounge, covered parking and even concierge services. If you’re considering selling your condo, take the time to walk through it methodically with your real estate agent. Together you can point out which features of the actual condo unit should be accentuated. Does your unit have a wonderful view? Perhaps the location of your condominium is unique and desirable. Your real estate agent can help accentuate these features in sales and marketing materials.

4) Desired Price & Bottom Line Price

When setting the home price for your condo, it’s important to identify your desired price and your bottom line price. By assessing recent condo sale and listing statistics in your area, your real estate agent and a licensed appraiser can estimate your house value and recommend an appropriate target price range. Working with your agent, you can set an initial asking price, as well the absolute lowest home price you would comfortably accept. One advantage of selling a condo is that by assessing the prices of other units in your association that have recently sold or are currently listed, your real estate agent and the appraiser can determine a very accurate house value.

5) Disclosures

When selling your condo, you may be obligated to disclose problems that could affect the property’s value or desirability, as well as to disclose HOA minutes and costs of common insurance and utilities. In most states, it is illegal to fraudulently conceal major physical defects in your property, such as a water heater that leaks severely. And many states now require sellers to take a proactive role by making written disclosures on the condition of the condo unit. Ask your real estate agent for the particular laws of your state.

The staff at Coldwell Banker Real Estate Corporation http://www.coldwellbanker.com/ writes select articles about important topics related to real estate. For more information about buying a home http://www.coldwellbanker.com/real_estate/Buy_a_Home or selling your current property http://www.coldwellbanker.com/real_estate/Sell_a_Home, visit ColdwellBanker.com today.

Author: Alex Fuller
Article Source: EzineArticles.com
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Since launching the Home Buying Institute website back in 2005, I’ve received quite a few home-buying questions by email. As you might imagine, many of these questions came from first-time home buyers who are new to the process of buying a home.

I thought it would be beneficial to home buyers everywhere if I selected five of the most common home-buying questions I receive, and explored them in an article such as this. I’ve also listed the corresponding areas of HomeBuyingInstitute.com that cover these topics in more detail.

So here we go with five common questions when buying a home:

1. How do I find out my price range?

Determining a price range should be one of your first steps when buying a home. When you know how much you can comfortably afford each month, you’ll save time during the house hunting process by only visiting properties within your price range.

To determine your price range, sit down and compare your monthly income to your monthly expenses (savings, credit card payments, car payment, quality of life, etc.). How much is left? Your monthly mortgage should be less than this amount. Now you can use an online mortgage calculator to break each sale price down to a monthly amount, and determine if that amount is inside or outside your comfort zone.

Section of Home Buying Institute: “Self Assessment”

2. Do I need a real estate agent?

Here’s the short answer … yes! If you are buying a first home, you should have a real estate agent. Buying a home is one of the biggest financial transactions you will ever make, so it’s always wise to have professional help.

Your agent will help you find homes that match your price range and desired features. He or she will also help you validate the asking process (next item), write up the purchase offer, help you negotiate with the seller, and guide you through the rest of the home buying process.

Section of Home Buying Institute: “Finding an Agent”

3. How do I research the asking price?

The first thing to realize here is that it’s called an “asking price” for a reason. The price set by the seller is never set in stone. It’s what they are asking for, and you are free to make a counter-offer is you see fit. Your real estate agent will help you validate the asking price by looking at comparable, recent sales in the area. This will tell you if the asking price is reasonable or over-priced, based on current marketing conditions.

Section of Home Buying Institute: “Process Overview” and “What to Avoid”

4. Which type of mortgage loan should I choose?

This question always presents a catch-22 for me. On one hand, I enjoy helping people by answering their home buying questions. On the other hand, I don’t dare make a decision like this on behalf of a stranger. It’s too important a decision for me to make for somebody else.

With that disclaimer out of the way, here’s how you can choose the best type of mortgage loan for your situation. First, do some research on the basic types of home loans — fixed rate, adjustable rate (ARM), balloon loan, etc. When researching the different mortgage types, pay attention to paragraphs that begin with: “This type of mortgage might be best for you if…” Generally, this type of statement is followed by a series of pros and cons that will explain the type of home buyer who might choose that option.

As a rule of thumb, if you’re going to be in the home for quite a while (five years or more), it’s probably a good idea to choose a fixed-rate mortgage. On the other hand, if you think you’ll only be in the home for two or three years, you might want to choose an adjustable-rate mortgage to save money during your short time of ownership.

Section of Home Buying Institute: “Types of Mortgages”

5. What happens at the real estate closing?

Basically, the real estate closing (also known as a “settlement”) is when property ownership transfers from seller to buyer. All remaining fees will be paid as well, and these are known as closing costs. The seller gets their portion of the payment (minus what they still owe on the mortgage), and the deed is transferred to reflect the new owner.

As a home buyer, the best you can do is save more money than you think you’ll need at closing, just to be safe. You should also make sure you receive a HUD-1 statement (or “settlement statement”) at least one day prior to the closing date. This document gives you an itemized list of the costs you’ll be expected to pay at closing. The Real Estate Settlement Procedures Act (RESPA) requires that the closing / escrow agent provide this document at least one day before the real estate closing.

Section of Home Buying Institute: “Closing / Settlement”

* You may republish this article online if you retain the author’s byline and the active hyperlinks below. Copyright 2007, Brandon Cornett.

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Brandon Cornett is the publisher of Home Buying Institute, a library of home buying advice and articles. If you have additional questions about buying a home, be sure to visit http://www.homebuyinginstitute.com

Author: Brandon Cornett
Article Source: EzineArticles.com
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