A Guide to Real Estate Real Estate
  • Latest Articles

  • April7th

    How to Afford Your Dream Home

    Posted in: Buying

    Is it your dream to one day own a holiday home in the sun; a beautiful house where you can escape, relax and be free of the worries that seem to go hand in hand with every day life? Well, you’re not alone!

    A recent survey by a well known mortgage lender in the UK revealed that up to one in three Britons not only dream about owning a home in the sun but fully intend to make that dream a reality some day. And in the US the number of Americans planning to one day buy that ideal second home haven is now up to three in ten people.

    Now let me ask you another question: If it is your dream to ‘one day’ own that beautiful home in the sun what exactly are you waiting for? Why wait for ‘one day’ when you can make your dream a reality today? Here are just five simple ways that could free you up to make your ideal property purchase today. Read More

  • March30th

    Real Estate Investment – Why is it big business?

    Posted in: Investment

    When examining the different asset classes, real estate is generally far less volatile than shares and real estate tends to be the haven that investors flock to when other asset classes are suffering. It is true to say that investment properties can have many benefits in terms of building long-term wealth, but we must never forget that this wealth is not guaranteed!

    Following the global real estate boom of the late 1980’s many investors learnt this hard lesson when they found their properties were worth far less than they had actually paid for them and the bottom seemingly fell out of the over-inflated market. The bottom did not truly fall out of the market however as all real estate retained value; the real estate market simply experienced an overdue rebalance and has gone on to build from this point of stability.

    Since the booming 80’s ’sensible’ investments in real estate have still offered major attractions and advantages, and it is back to real estate that investors have turned in recent years.
    Read More

  • March30th

    Real estate auction action – Buying a home at auction

    Posted in: Buying

    Due in part to the popularity of the U. S. Department of Housing and Urban Development (HUD)’s home auction program, more potential homebuyers than ever are buying homes at auction. Homes for auction aren’t limited to just HUD, however. Many government entities auction homes for payment of back taxes, and some homeowners even auction their homes on eBay.com!

    Homebuyers considering buying a home at auction should take some steps in advance to help them with their bid price, and even whether to bid at all on a specific home. There will always be a degree of risk when buying a home this way, but with a little diligence, potential homebuyers could save a lot of money buying in this manner.

    Before the auction, you should have your financing arranged, and have enough cash on hand or in your bank account to cover a deposit on your purchase. You need to check the features, location, condition, and ownership history first. Afterwards, be sure to learn what the property is worth by looking at sales of comparable properties in the same area. Compare homes with the same number of rooms is possible, but be sure to allow for price differences due to pools, decks, carpeting, window treatments, etc.

    At the auction itself, resist the temptation to get into a personal bidding war, just “to beat out the other guy”. Have a set price limit and stick to it. Other houses will come along, and you don’t have to win the first auction that comes your way.

    You should know that the price of a home at auction is typically the loan balance (if foreclosed), plus any back taxes owed, plus legal fees and other expenses in foreclosing the property. This will typically be the opening bid amount, and the price will go up from there. Even so, it’s possible to get a great deal in an auctioned house, with a little research and planning first.

    Also, know that you probably won’t be able to get an inspection, and are buying the home “as is”. If you can’t do any needed repair work yourself, or can’t hire it done within your budget, you may not end up getting such a bargain in the end.

  • March30th

    Secrets of Resale Value

    Posted in: Investment

    Whether you currently own a home or are looking to buy one, chances are you’re interested in resale value. There’s always the chance that you will be selling your home in the future, and with that in mind, it’s good to know you can get good payback for your purchase. Here are three things about house resale value that may surprise you.

    First of all, swimming pools are not worth much. Not in resale value, anyhow, even if you did pay a lot to have one installed. There was a time when having a pool in the backyard meant a lush and expensive home, but nowadays they are more common than you might think. Many modern home buyers are more interested in a backyard for the kids than they are in having a tiled pool outside their back door. Speaking of the kids, that’s another reason the resale value of homes with pools has gone down: With the ever-growing number of Americans with small children, many would just as soon steer clear of a large body of water in the yard. This is not to say that swimming pools do not have good resale value to the right buyer. It does mean, however, that there are fewer “right buyers” for this type of property than there once were.

    The second surprise is an easy one: You can never have too many bathrooms. Nowadays bathrooms are prime space in a home. Even installing a shower and toilet in a corner of the basement can add remodeling potential to your home. Ideally, every house would have a main floor bathroom, a guest bathroom, and a bathroom off of the master bedroom. In short, the more toilets and showers for today’s family, the better your home will fare in the market of the future.

    The third and final surprise source of value is this: If your home is the smallest in the neighborhood, it might be the best in terms of resale value. A small, modern, nicely kept home in a neighborhood of larger houses may fare very well. Picture it this way: Your neighborhood is desirable, and you’re lucky enough to have the most affordable house on the block. Compared to the prices of the property around you, what might seem like a high price for the size of your home can be considered a very good deal.

    Calculating resale value for a home that you plan to sell in the future can be a tricky job. It’s sometimes difficult to predict what will come and go in the buying market. The best advice is to keep the basics updated and in good shape- this means your kitchen, your roof, your yard, and other obvious hubs of the household. When the time comes to sell your home, be prepared to spend a little money to invest in one or two areas that can increase your home’s value considerably. It will be worth it.

  • March30th

    Real Estate Repair Scams

    Posted in: Investment

    It happens more often than you might think. A person in a building company’s truck knocks on a homeowner’s door. The person tells the home owner that they were driving by, and they noticed some serious damage to the shingles on the roof. Have they had their roof inspected lately? Are they aware that this could cause problems down the road? The contractor, it just so happens, has the equipment in his truck, and he would be glad to start work immediately for a down payment.

    To anyone paying close attention, this already sounds like a scam.

    But even if the home owner misses these first warning signs, he discovers it’s a scam a few days later. That is, after he’s paid up, and the contractor has disappeared without doing the work, or announced that it will cost twice as much as he thought and he needs more money before he can continue.

    Home repair scams are fairly common, experts say, and new homeowners and the elderly are particularly susceptible. It might seem shocking that anyone would hand money to a person off the street with no guarantees, but many inexperienced owners are panicked at the thought of home repair, and they will trust anyone in a tool belt who tells them there’s a problem. No questions asked- unfortunately.

    What is the simplest way to tell the difference between a legitimate home contractor and a scam artist? The main rule is, if they come looking for you, consider them suspect. Legitimate contractors are busy- running a real business- and they don’t go knocking on doors for jobs, not even if your roof IS dangerously close to serious damage. If someone is knocking on doors and soliciting jobs, chances are they have more than enough time on their hands to do so, because they’re not actually doing any of the jobs.

    Of course, that doesn’t mean just because you look a contractor up in the phone book, you’re perfectly safe. Do your research. You’re investing a lot into choosing your contractor, including your money, your time, and your home. Don’t assume that just because a contractor holds a license that they’re a good one, either. Becoming a licensed contractor is hardly more than a matter of paperwork, and scam artists can become licensed just as easily as anyone else. The best way to find a good contract worker is by asking for recommendations from neighbors, coworkers, or friends who have had good work done. Ask them if they would hire the person again and what kinds of problems they might have encountered. Check with the Better Business Bureau and any local business registry offices. Ensure that the contractor is indeed registered as a business, and look into any feedback they may have received from previous customers.

    Home repair can be a scary and expensive process. When you’re faced with needed repairs, make sure you’ve got a professional on your side. It costs nothing to be careful, and it could save you a great deal.

« Previous Entries
Return to the Homepage