Between Buy and Build Property

When families, or individuals, first begin to think about purchasing a home, the question often arises as to whether they should buy a previously owned house, and then add a few personal touches, or whether they should hire a custom home building company to help them design their own. There are benefits and downfalls to both, making it a tough choice.


Buying a new home has certain conveniences that many people appreciate, like the fact that everything is already done. For example, the washer hook up is already in place, the walls are already insulated and the bathroom is all ready to be used. This saves the hassle, and possible conflict of making major decisions, which can be a huge relief for individuals that are a bit indecisive. Buying a home means that buyers can move in sooner, and they may save money in the long run, depending on the house.

The same things that are positives have the potential to turn into negatives. It may be nice that the washer hook up is already in its designated spot, but what if it is

Common Mistakes When Buy Apartement

An apartment building can still be a good investment today. Why? For starters, there are still a lot of people who are still looking for homes to rent. In addition, the units of an apartment building do not just have to be spaces for residence or homes for families and individuals. By getting the right permits, units in an apartment building can be rented out as commercial spaces.

First-time buyers of apartment buildings will certainly have high expectations regarding this particular investment. This is mainly because they will invest a significant amount of money for this venture. As such, if you want to make sure you will own the right apartment building that can help you find success in the field of property rentals, make sure you avoid these common (and costly) rookie mistakes:

Not looking into the history and reputation of the apartment building’s builder or developer.

As a first-time owner of an apartment building, the last thing you want to happen is to stumble upon some structural problems or system failures. As such, it is important to check the background, capability, and reputation of the

Tips To Value a Freehold Property

There are no yardsticks to measure the value of a freehold property. This is because evaluating a freehold is not an accurate science. However, you can follow certain guidelines on what you need to take into consideration when valuing a freehold, which is produced by the advisory services that give free advice to leaseholders. You must also take these three factors into consideration:

1. The current value of the property

2. The annual ground rent

3. The number of years currently left on the lease

Also, evaluate the expected percentage increase in property value that results from extending the leases of different lengths, along with forecasted long term interest rates and inflation rates.

Take help from an expert valuer rather than trying to work out a figure all by yourself, to present before the freeholder. An expert valuer will be able to give you the best advice, which will enable you to make a practical offer.

You will find expert valuers online. They will help you with the entire process of negotiation and buying the freehold.

For the benefit of the freehold, most surveyors add a little extra to a property’s

How To Choose A Mortgage Lender

When you buy a home, you’re in for a long-term commitment. You’ll have a mortgage payment for 15 to 30 years, so it’s smart to find the perfect mortgage lender for your requirements. Consider the following tips when making your decision:

Decide what kind of lender you want – small or large. If you prefer a more personal touch and a lender who will know your name you will more than likely want to go with a smaller lender. If you are the type of person that cares more about the interest rate, a large lender may be your best bet.

Talk to your real estate agent. A top-notch agent will not limit their recommendations to their in-house lenders. And most importantly, savvy loan officers take especially good care of clients that are recommended by real estate agents. So definitely use this to your advantage. This personal connection can be a big help when it comes to reducing closing costs.

Know your potential lenders. The competition between lenders is fierce so it’s best to know what’s available. I highly suggest going local. Online lenders are plentiful, but a local company comes with the added benefit of knowing the neighborhoods, properties and the

Tips To Get Pre-Approved Before Buy House

Prior to looking for a home, the first step you should take in the home buying process is to complete a mortgage pre-approval with a knowledgeable and trustworthy lender. Be sure to provide honest and accurate information to your lender. This will help the loan officer find the best mortgage options for you and ensure the fastest and smoothest loan approval process. The following suggestions will help expedite the loan process.

• Read All Documents – Make sure you thoroughly read all the loan documents. Ask your loan officer to explain anything that you do not understand. Never sign blank or incomplete documents.

• Be Truthful – Truthfully disclosure all your income sources and debts. Do not fabricate or alter any documents.

• Explain Your Employment History – Thoroughly explain and document any part-time employment or gaps in your employment history.

• Source and Document Your Funds – All gifts must be fully documented with a paper trail. Do not accept cash as a gift from a relative for the down payment. Only seasoned funds are acceptable as gifts.

• Credit Issues – Thoroughly explain and document all past credit problems.

• Educate – Ask your loan officers to explain the terms of the loan, including

Choose Your Home Before You Retire

If you’re considering retiring in the next 8-10 years then you might want to start considering to buy your retirement home! If you buy it early there can be significant financial benefits. This is especially true if you’re planning on getting a mortgage.

By doing so early you’ll be taking advantage of the current low-interest rates as well! 30 year fixed mortgages have dropped to approximately 3.4% currently. Not only are there some appealing saving options but there’s considerable financial benefit to putting money towards your retirement home while you’re still employed. So let’s jump right into some of the most important reasons you should consider buying your retirement home so far in advance.

Getting approved for a mortgage

When your loan application is being evaluated your debt-income ratio will be a very important aspect of that evaluation. This ratio will obviously be in a better position while you’re employed. Which means, you’ll have an easier time applying for your mortgage while you still have a reliable income.

If you waited to apply for the mortgage until you retired, it’s possible that you’ll minimize the size of the loan you could potentially apply for. Also, you can start chipping away at that mortgage ahead

Please Never Say This When You Buy Home

Seeing something that you love (or hate) can cause you to blurt out all kinds of things when buying a house, some of which you may regret. Because while you can (and should) at all times be upfront with your real estate agent, you might not want to be quite so forthright around the sellers (or the listing agents working for them).

So before you decide to step into a house and stick your foot in your mouth, heed these top things never to say to sellers or their real estate agents when you are shopping for a new home.

1. “This is my dream house!”

Have you ever played poker? Well then you should know that if you would like to maintain a strong negotiating position, you should never tip your hand… In the process of buying a house, interested parties who express their unchecked passion for a house are shooting themselves.

These are the types of things which can help sellers obtain more cash from the buyers. This is due to the fact that they really know how much this home really means to them. Any negotiating strategies and all discussions about the home are best left in private. Saying a

Tips To Buy Real Estate Below Market Value

It patently requires time, work and ability to get an incredible deal for land. Obviously getting profitable deal is one of the tasks of entire business. But here we will let you know how to make a profit on purchasing a property. Doing this obviously requires research, skilled transaction and complete dedication – still if one follows the given underneath techniques you can yield stunning achievement.

To be effective in Real Estate you need to know how to purchase land below the market value, and purchase properties that bode well. For this we will first let you know why individuals offer property below market value, what its real market worth is and afterward how you can purchase land below market value.

Why do individuals offer property below market value?

Nobody wishes to offer their property less than its value. If one is doing so then undoubtedly there must be some reason for that. In majority of the cases reason is time pressure. Choices can frequently be irrational and emotional in these circumstances. For Example:

– Facing budgetary issues.
– To share funds with legatee.
– Facing Foreclosure Problems
– Personal issues.
– Interested in another property.
– Migrating because of work issues.

Whenever you discover

Buy a New House With Credit

Buying a house is a dream come true for most of us. It is a practical and a financially wise decision as well. No wonder the real estate market is ever buzzing with activity this year. However, as much as we love the idea of buying a house, the high amount of money involved can make some of us weary about the process. The most basic step in buying a house is planning your budget. Based on income and savings, one can get an estimate of the price of house they can afford. A majority of home buyers look for financial assistance from banks or other lending institutions to purchase their house. In such cases, along with Income and savings, credit scores also play a huge role in deciding whether a loan can be extended to an individual, as well as the amount of loan. Real estate agents can also help you decide the budget and find a property that fits within it. Agents are also great resources to help find a lender who can clean up your credit score.

Check your Scores/Clean up your Credit Score

Credit scores are a way to measure the “credit-worthiness” of any individual i.e. whether the

Tips To Find Foreclosure Assistance

If you are facing foreclosure, it is important to know all your options. Many foreclosures are caused from job loss, unexpected medical bills, or divorce. Typically, these are once-in-a-lifetime occurrences; therefore, contacting your mortgage lender and informing them of your situation is vital to your credit as well as keeping your house. If you are facing any of the above mentioned financial issues, the following steps could help you avoid losing your house.

• Contact Your Mortgage Lender – If you are having problems making your mortgage payment, contact your lender immediately. The loss mitigation department will be able to assist you with options from refinancing, loan modification, or forbearance. Explain your situation, then follow-up with an email or letter thoroughly describing what has occurred that has caused a financial hardship and then send documentation to the lender to support your situation.

• Maintain Your Residence – Stay in your house. Most of the recent government assistance programs are all based on housing that is owner-occupied. Once you move out of your property, you will lose many protections issued by these recent laws.

• Contact an Approved Housing Counseling Agency – Contact the Department of Housing and Urban Development (HUD) and seek out

When You Want Renting House During Foreclosure

One of the worst situations that a tenant can find themselves in is to be renting a house that is going into foreclosure. It’s an uncertain situation and may eventually see the tenant evicted through no fault of their own.

If you find yourself in this situation, you have a number of rights that you should be aware of.

Will I Be Evicted?

Before 2009 the vast majority of tenants would lose their lease once the home entered into foreclosure, leaving them in a situation where they had to find somewhere else to live.

However, in 2009 the Protecting Tenants at Foreclosure Act changed so that any tenant in a foreclosed property can maintain their lease and continue to live there, assuming the new owner doesn’t want to use the home for themselves.

While it is certainly not ideal, you will find that many people purchase foreclosed properties as an investment, rather than as a place to live themselves. That means many will be happy to keep you where you are, as they will now be receiving monthly money without having to put any work in.

Bear in mind that this differs slightly for tenants who are on a rolling monthly contract. In these cases the

Guide To Fight Fore Closure

A foreclosure can be a very scary experience. Many people purchase their homes and most people have no idea that they can lose it through a foreclosure. In America, you either get foreclosed upon in a judicial or non judicial jurisdiction. Regardless of which one you are in, you must equip yourself with knowledge. When faced with foreclosure, most people make the mistake of thinking that the lender will provide them with valuable information to help the borrowers. That is never the case. But that is okay because there are ways to save a home from foreclosure. Below are 4 things you need to know when facing foreclosure:

1. Come up with a game plan

You must figure out whether you can save the home or will you be walking away from it. If you decide to save the home, then contact the lender and request the loss mitigation department. Then advise the loss mitigation department that you want to save the home. The lender will then extend the programs it has available to you. If you qualify for one of the programs that the lender outlines, then you will be on your way to saving your home. If you decide to

How To Buy House After Foreclosed

Foreclosure is never a pleasant experience, so it is important to be aware of where you stand once your property has been foreclosed. Once the proceedings have been put in place, you will have a limited amount of time to catch up on your mortgage payments before your lender accelerates the payments to the point where they will accept nothing less than full payment if you intend to keep the property. The amount of time you have for this will differ depending on the loan provider, but it will usually be no more than a couple of months.

If you are unable to meet these conditions in the timeframe provided, hope is not necessarily lost. There are a number of things you can do to try to maintain possession of the property, particularly if you have maintained a right to redemption on the property.

Your Rights

It is important to note that not every home is eligible for redemption, so it is important to find out if you even have the right before trying to exercise it.

To be eligible, your home will need to have been seized via a judicial foreclose order, in which the lender files a foreclosure suit in court.

Guide To Buy Property Overseas

When buying property overseas it can be a demanding task including the possibility of several problem areas along the way like tenancy laws that can be complicated, financing, condition the property that you want to purchase is in, working with an inexperienced broker, etc. It is important that you deal with the procedure of buying property overseas in a systematic way to help reduce any hassles that could accompany the process.

One of the first things that you should do is to determine your budget for buying the residential property. In addition to what the property will cost there could also some other expenditures that you should figure into your budget. These other expenditures can include;

• Registration fees
• Stamp duty
• Brokerage fees
• Legal fees
• Cost of improving/renovating the property
• Property tax/house tax payments in the future
• Cost of furnishing the home
• Maintenance fees that can be monthly or yearly to society
• Society transfer charges in buildings with societies

Next you will want to find a realtor, who can help you in locating and evaluating the residential property you are interested in. They will also guide you through the entire process until the purchase is

Check This Out Before Choose Property

Buying a house, for some, can be viewed as the next step to a new chapter in one’s life. Others see it as a sign of independence and convenience. However there are some who merely buy the house based on price without considering a lot of factors.

In fact, most people spend at least 96 minutes viewing properties. That’s less than the average time a person spends on selecting a holiday destination. Within that time, buyers have the potential to miss out on so many crucial details like feasibility, accessibility, long term and importantly, practicality.

Here are a few tips and tricks experts suggest when it comes to buying properties.

#1 Think of practicality.

The number one thing to consider is practicality and budget. Most people have their definition of a dream house in their minds. But sometimes, dream houses can be rather pricey and often times, impractical and does not adhere to factors to be considered when buying a house. Even if most listings have all the necessary amenities and allotted factors, there will always be that unnerving feeling of ‘it doesn’t feel right’.

In addition, being emotionally attached to a property no matter how expensive and perfect it may be, will hinder your

To Do List Before Buy House

Many home-buyers are very diligent when it comes to studying up before they make their purchase. However, far too often 6 very important things go overlooked. These common oversights can result in you losing money, wasting time, and cause unnecessary regret. Now, let’s make sure you know about these common oversights, so you can make sure they don’t happen to you!

1. Resale Value

In today’s housing market, people aren’t staying in their homes the full 30 years like most of the previous generation did before us. Things are changing fast and people are moving around and valuing flexibility more and more. People change jobs, people want to be closer to kids, basically, life changes things. This is why it’s important for home-buyers to immediately consider the re-sale value of the property they’re considering.

Try and land something with a wider range of appeal, rather than a unique home that might only pique our personal interest. You might even want to discuss patterns that your real estate agent has seen in the surrounding area. Buying a home should feel right but it should also be a practical investment. Let your heart influence your decision but allow practicality a place in the decision-making process.


Tips To Increase Your Property Value

So, you have decided to part with your home. Wondering how to get the best deal that will justify holding it is an investment property until now. Before you put up a notice for sale, or start passing the news to your near and dear, consider the fact that the reality market is some parts of the country has been sluggish.

Hence, it is worthwhile to put in a little bit of effort that will make your property look a lot more attractive to potential buyers. Here are some expert tips that will help enhance the resale value of your home by tens of thousands if not few lakhs.

Pep up the exteriors

As soon as a home is bought, homeowners spend time, money and energy in designing the interiors to their whims and fancy. What they miss to see is that, the exteriors play a major role in creating an impression in the minds of a potential buyer than the interior. It is the exterior that is first seen before they take a walkthrough of the interiors. Hence, pay attention to pepping up your exteriors in equal measure to the interiors to get a better resale value.

Creating additional space

An extra room is

How To Relax During Property Appraisal

When people usually think of real estate value they think of two forces; supply and demand. Yes, this is correct; however supply and demand only fall under the one of the four main categories that drive/depress real estate value. Supply and demand fall under the economic category of influences in real estate value. The other three include; social impact, government subjection and environmental forces.

When looking at social impact, there are a few things one would want to consider determining the effect it will have on real estate value. Most of all the value would fluctuate accordingly with population characteristics. This tie into the potential for demand in the economic section of value; the more demand, the more value a property can derive. Population however should be looked at in more depth by breaking down the sample by age and gender, rate of household formation and partition, as well as analysis of the social values such as education, law and order, and lifestyle preferences. Careful consideration of these factors will help establish trends in what would be reflected in real estate values.

Next is the government subjection, accounting for a large aspect of real estate value. This includes political and legal activities

How To Get Out of Real Estate

Talk about exquisite timing.

Even today, a decade after the fact, the leveraged buyout of Equity Office Properties Trust remains one of the largest of all time: $36 billion for nearly 600 office buildings in New York, Washington D.C. and dozens of the nation’s largest cities.

But in late 2006, some wondered if the billionaire who sold the REIT was being a little rash. After all, the real estate boom was in full swing, and the S&P 500 was primed to hit new all-time highs. “Is he cashing out too early?” asked a Bloomberg headline when the deal was announced.

We all know the answer, of course.

Billionaire Sam Zell deftly sidestepped the coming real estate carnage. Then, with prices at generational lows a few years later, Zell bought hundreds of apartment complexes at dirt-cheap prices.

And today? Well, that’s the ominous part…

Once again, Zell is selling his real estate holdings. Last fall, he unloaded a quarter of his portfolio, buildings totaling about 23,000 rental apartments, to Starwood Capital Group for more than $5 billion.

Zell next sold off apartment buildings in South Florida and Denver, with complexes in Phoenix, Boston and other metro areas expected to be sold before the year is out.

“No one