Good Tips For Buying Property – House

Location, locations, locations… is probably the most quoted mantra in property investment. Yet, when you have to choose between a few property units, how do you choose the best unit in terms of physical and geographical aspects?

5 main TIPS help to make a big difference in rental income and resale value of your property:-

LOCATIONS:
1. The area that you love most or the area that you are going into.
2. You might narrow down your search to a section; for instance, you might want to see whether the property near the park or the shops.
3. Look at the road on which the property sits and the position of the property.

IDENTIFY THE MAJOR DEFECTS:
Most importantly, you must feel comfortable while viewing the property. If you are, then can start examining other detail. While you are at the site, avoid spending too much time on superficial things like the paint work and the garden, which are only minor issues. You should look for major defects like roof leakage, termite infestation, structural cracks along the foundations and sewerage blockage.

Emphasises good structure, which includes the layout of the property, the number of columns and pillars as well as the foundation of the land. If there are too many columns, it would be very difficult to renovate the house. If you notice a gap between the wall and the floor, it is a sign of earth movement, which denotes a structural problem.

The defect root leakage, often refer to “add spots” such as the storeroom and the toilet in the master bedroom. Usually, people touch up water stains on the ceiling in the living room because it’s unsightly to guests. But most people would not touch up the ceiling of the add spots.

When inspecting the living room, note whether there is a fresh cost of paint on the ceiling. Ceiling are usually painted over with emulsion paint. If you see one shiny patch, that could mean that there has been a leak and the owner might used gloss paint to cover up. While emulsion paint absorbs water, gloss paint is waterproof.

Floor quality is another important factor. Whether you are walking on timber or marble flooring, make sure that it is not hollow.

PAY A PREMIUM FOR MORE LAND:
Pay a little more of premium to get back a lot of premium. If you have the financial capacity, pick a corner lot. Corner lot are usually in high demand and limited units because of the extra land. The corner lot should not be on the main road, where the traffic is heavy.

If you cannot afford a corner lot, choose an intermediate unit carefully. It is important to know who your neighbours are. If your neighbour is a kindergarten operator, the unit will look funny, and it did make your house look out of place. In the morning there will be a lot of traffic and might have a lot of cars parked in front of your house.

It is best to avoid buying next to an extensively done-up unit. It will drawn your house and make it look out of place.

Property will added advantage if the unit is faces the parks, greenery or a lake, especially if it is situated within legally gated and guarded development. 2nd, the main entrance is facing north or south. With this direction, you do not get direct sunlight and it would make the house cooler.

PAY ATTENTION TO THE VIEW AND THE SURROUNDINGS:
Do not buy a residential property that faces a busy main road to avoid environmental pollution and inconvenience. it should be at least three to four house away from the main road.

Avoid units near facilities like power lines, school, commercial areas, mosques, temples and oxidation ponds as well as hill slopes (to avoid potential landslides). Avoid T-junctions like the plague. T-junctions have certain risks. Car light shine directly into your house. Accidents may happen because of the location of property.

Green is always good, but we have to be cautions that adjacent playground or park should be well maintained. Ideally, the park or playground should be separately from you home by a corridor or a road. If a playground is very close to your house, there may be privacy and security issues. And you might get footballs being kicked into your garden frequently.

Likewise, water features like a lake should not be too close to your unit. Otherwise, you will have issues of dampness and snakes. Make sure that your unit is more than 100cm away from the water features.

PICK THE RIGHT FLOOR:
If you are investing in a high-rise apartment, go for the 10th floor or above to get better view and less noise. And it will be cooler.

Avoid top floor unit, especially if the property is 10 to 20 years old as there will be problem with roof leakages and there is potential of tile movements due to exposure to strong winds. Issues of roof leakage, it would be difficult to carry out repair.

 

 

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Smart Tips When Acquiring Real Estate Property

Investing for properties in Fort Lauderdale is a good idea. Aside from the quality homes in the city, it is also known as the “Venice of America” because of its beautiful canals and waterways that gives a beautiful scenic for the city. It has also tropical climate wherein you can enjoy the summertime activities all year round.

But before purchasing your own property in Fort Lauderdale real estate, it is better to consider few details about the properties. You have to check out different properties so that you will end up with the right property. This will avoid you from regretting whatever property that you may purchase in the future.

When buying a property, it is important to know your preferences. You have to know what you want for a home before going around and check those available homes. You must plan in advance so that it will be easy for you to spot the property that you want to buy. In this way you are trying to narrow down your choices and able to spot the property you want to purchase.

When looking for a property, you should identify your needs first. This will help you look for those properties that match your specifications. You have to determine what type of property you want to invest such as townhouse, apartment, single family home or condo units. Aside from the type of property that you want to invest, it is also important to determine the type of amenities that you want to have. There are different amenities that you can found in Fort Lauderdale real estate such as swimming pool, schools, hospitals, commercial amenities and so on.

You have to list down all the details that you want to consider when searching for the right Fort Lauderdale real estate property. This will help you narrow down your search and come up with the right property.

Now that you have the details of what you want for your home, it is time for you to arrange your financial resources. When buying a property it is important to determine the amount that you can safely dish out for the acquisition process you are doing.

If you do not have enough amounts to for your home acquisition, there are financial institutions that are offering mortgage loan for those interested people. But of course you have to search for the right lenders that will offer options that suit your budget.

When purchasing your own property, it is important to be careful. You have to wait for the right time before you actually buy a Fort Lauderdale real estate property.

Fort Lauderdale Real Estate

A Few Simple Tips on Buying Property to Rent

A lot of people now are opting to rent for a house because at these times, it is very hard to buy your own property. Because of this, owning rental properties is very profitable and makes for a good investment. If you are thinking of buying property for the purpose of renting it out, then you are on the right track. Just be sure to keep a few tips in mind in order to get the best rentals out of your investment.

First, check out the area where the prospective property is located. Ask yourself if it has a promising market or not. If you are confused, it is best to talk to real estate agents regarding this matter to better understand which one should work for you. It is not enough that you just talk to them. Also try to get a feel of the place by visiting it. This way, you can set your expectations as to how the property can do as far as rental is concerned.

If you think that you have found the perfect property for you, given all the factors and considerations, it is now time to check all your options money wise. Talk to as many lenders as you can. Decide carefully on which deal you are going to take. Seek the help of a financial advisor for further understanding of your situation.

When everything is flowing smoothly with that, you should now be placing your offer for the prospective property. Start with a price that is reasonably low, because it is inevitable that you would receive counter-offers for the price that you are offering. Understand the seller’s counter-offers with all heart, and if there are any discrepancies regarding these, clarify them to prevent problems from coming due to miscommunications or misunderstandings.

Things will start to pick up once your offer is accepted. You would have to do some paperwork then, so talk to your solicitor about it to get this part done. In addition to that, the property will need to be surveyed to arrive at the current value of it. Depending on your agreement with the seller, you might or might not have to shoulder the expenses regarding this.

Who manages the property is a question which needs to be answered at this point. Full attention is required at this time, so if you feel that you are lacking time, it is better if you hire an agent to do the task for you. Check the property to see the repairs needed and get this done with as soon as possible.

You are now so close to owning the property, so make a decision on whether you will be renting out the property furnished or not. If you answer yes, put in the appropriate and necessary furniture that would be essential for daily living. This part of the whole process would not call for your personal preferences. Be just and objective about the selection of furniture.

Finally, have a full understanding of the foundations of your contract. Know it by heart, so that if any questions arise from it, they could be easily clarified to renters. There’s nothing more frustrating than a landlord who can’t explain contract details to a would-be renter.

This is just a brief overview of what could take place when you are out in the market for rental properties. There is a whole lot more to understand regarding this aspect, although this is to say that buying properties for renting is really a wise investment.

Take a look at some properties for rent and for sale in Desert View Phoenix Home and Affordable Housing in Phoenix.