What Happens If a Man or woman Finally Downsizes

There normally arrives an occasion inside the existence of people who did many of the goals they wanted to perform inside life when they’re prepared to perform less, or to perform the things they do much more mindfully, or perhaps to get it done to a lesser degree. This tends to be a smart way to everyday living, as it just is practical to invest your resources carrying out things that are usually nearest your heart. For many, that could be feeling free to stop and take a trip to visit their beloved grandbabies. For yet another, it will be the ability to live much more simply, to get to travel, or to not really really feel so answerable for so much. When people discover that they have arrived at this unique situation in daily life, it’s often an opportunity for them to downsize. It is time to consider selling your home as speedily and also as effortlessly as they can.

There are a variety of advantages that come with downsizing, and to learning how to sell your house fast. If you sell house fast and also wind up in a small residence, chances are it will seem to feel far cozier, a experience you could actually enjoy. A much smaller home must be simpler to care for, and have reduced energy charges as well. There perhaps might not be as many (or perhaps any) steps to climb. Taxes about scaled-down residences are usually a lot less, as will be the maintenance plus repair fees. Additionally, any additional cash you generate selling a house might be there to end up being devoted for further old age income.

A lot of people tend to approach downsizing with a true sensation of resignation, a certain amount of nostalgia, and a great deal of willpower. They recognize that it truly is a little something that they honestly need to perform. What ultimately occurs, nevertheless, is usually that after the transfer is done, many people understand the reality from the saying, “Less is more.” These people observe that life is easier when their obligations are fewer. They have got much less to think about. Much more cash to use on things which truly matter. Much less to go wrong. Significantly less to clean up. They will discover that they adore this brand-new position within daily life and they will go about the latest task involving choosing methods to enjoy it!

8 Factors to Consider Before Buying Land to Build Your Home

In this time of economy recession one major challenge that people, especially those in the cities battles with is their rent. The thought of a phone call from landlords or agents has led many to developing high blood pressure.

I know you have been thinking of building your own house. I know you are fed up of having to give excuses and explanations to your landlord all the time because of rent. I also know that the times are hard; the economy is at a slow pace.

Building your own house is good as it takes certain responsibilities away from you. It is a major achievement in some parts of the world when you move into your own home. But I would want you to consider some factors before embarking on your new home projects.

Given below are 6 factors to consider before buying land to build your home.

1. Knowing a genuine land / owner

This is a major reason why many have ignored the thought of buying land to embark on building projects. The stories of litigations over lands that saturate the space are enough to discourage many from giving thoughts to buying land to build their own home.

The world has always witnessed the existence of good and bad. Everything that is good always has its bad version. Our ability to identify the good at all time is what makes us a winner in the game of life.

It is not every land that is offer for sale that is not genuine and vice versa but whatever the case may be the buyer must ensure that due diligence is observed. Desperation should be avoided when trying to buy land for any projects.

Fraudsters often take advantage of the desperation on the part of the buyer to dupe them of their hard earned money. Take your time to ask the necessary questions and ensure you get the right answers before making any commitment.

Where you are not satisfied seek help from professionals. To be candid, do not ignore professional counsels in all your land dealings. Do not be penny wise pound foolish! Where you may need to spend money for professional services do not take it to be waste of resources.

2. Proximity to major road and highway

It could be frustrating sometimes when your abode his not easily accessible to friends and family. And a situation where you have to spend several hours to get to the major road in your town/city could impact negatively on your health.

Precious time can be saved when your land is not far from the major road and highway in your location. This can impact positively on the time spends on daily activities and engagements.

Thoughts like the nearness of the land to the major road around and the major highway in the city are crucial when thinking about buying land for home projects.

3. Proximity to office or place of work

That you have become a land lord is not a reason why your work or business should suffer. This is an important factor to consider before embarking on a building project. I have seen people who have to abandon their business in the city because they moved to their own house in a remote part of the state.

Thereafter they would not be able to make money the way they have been doing before becoming a landlord. Houses that are in far remotes areas could be let out pending the time the owners would be buoyant enough to shoulder the challenges of living there without any regrets.

4. Proximity to electricity

Electricity is an essential factor to be considered when planning to build your home. Running a home without access to electricity could be very costly and frustrating. It will impact negatively on your budget. It may even impact negatively on your health.

It may not be readily available in your proposed estates at the time of buying the land but it should not be far from its vicinity. The cost of installing electricity to the site should however be friendly and easily affordable if it is to be installed in a short time.

5. Proximity to telephone / internet networks

The world today revolves around technology, and telephone and internet are major drivers. However it is not unlikely that these services are yet to be operational in several places.

Living in areas without telephone and internet access is like living on an island. In this global village that we live you will do well with good telephone and internet access without which you are not accessible, and cut off from the world of information.

6. Proximity to Bank/ATM

You will always need cash to run your life and home. Especially in an environment where e-commerce is still unpopular and many businesses still rely on traditional method of selling, there will be dependability on cash all the time when you are in your new home.

Unlike in the past when you can keep cash at home for as long time as possible the current security challenges faced by many countries does not allow the storage of excess currencies at home.

Access to a bank or an ATM would take off the burden of keeping and accessing cash as at when due, because without access to cash one could be stranded in the home. A situation where one will have to travel hours before accessing bank or ATM services should be avoided when conceiving the thoughts of building your own home.

7. Overall cost of building and living in your new home

This is what will determine whether you will be able to build and maintain your proposed home. The cost of land, building, and that of providing basic amenities should be given adequate consideration before embarking on the projects.

It could be frustrating to own a building in a place that is not easily accessible by road. Cost of maintaining cars, providing security and electricity, could make one to relinquish the status of a landlord too soon.

8. Comfort of family and dependents

You will not live in your new home alone. The comfort of those who will live with you in the home should be put into consideration. What is good for you may not be good for your spouse and or children.

It will not be fair to deny your children access to good quality education because you now live in your own home. The impact of the proposed area on their health and emotions should also be of concern to you.

These 8 factors to consider before buying land to build your home if religiously followed will not just save you money but it will also safe you from unnecessary stress.

I would like to hear from you also as your opinion can help many of my readers out there. Kindly share your thoughts about this post via the comment box below. And if this post will help someone around you feel free to share to your social circle

How to Choose the Right Rental Property Manager

Investing in real estate can be a very lucrative endeavour, but it is also one that requires a lot of effort. Especially if you have bought a property with the intent of renting it, you should be prepared to provide a number of services for your tenant. From finding tenants, collecting rent, building maintenance and everything in between, collecting income from a rental property is not a passive exercise.

As such, many investors choose to work with a rental property manager so they can collect a regular income without being overwhelmed by the day-to-day tasks associated with managing the property. If you’re wondering how to choose the right rental property manager, you’ve come to the right place. The following tips will help you find the ideal manager that will help you maintain a profitable portfolio of rental properties.


First things first, you want to get a sense of a property manager’s experience before you hire them. Ideally, you are looking for an individual with experience managing similar types of properties. Do they manage single family homes, apartments, or commercial properties and what type of property are you intending to rent? Obviously, you want to find a good match between your property and your manager. In addition, you probably want to have an idea of how many properties a potential manager currently oversees. Not only do you want to know that your manager has adequate time to devote to your property, but also that they are active in the business.

Referrals and References

As you would likely do before hiring any professional, speak to colleagues, friends, and family about their experiences with property managers. Referrals are a great place to start when making a shortlist of potential candidates. Still, once you start meeting with property managers, also ask for references from current and/or past clients. You want to get a sense of their experience and skills from people who understand the property owner’s perspective.

Also, be prepared with a list of questions

  • How do you find tenants?
  • Describe your tenant screening process?
  • How many people are on your staff?
  • How do you handle building maintenance? Do you have in-house staff or is maintenance contracted?
  • Are your maintenance staff/contractors properly insured?
  • What are your fees?
  • How will you add value to my operation?
  • Sign a Contract

Finally, once you have chosen a property manager that meets your needs and budget, always be sure to sign a written agreement that includes the term and cost of management as well as the services that are included. In order to ensure effective management, you want your expectations clearly outlined in writing.

Promising Advantages of Hiring Real Estate Professionals

The task of property dealing is a complex one which is quite time-consuming and stressful. It is so because it involves huge financial risks and is one of the biggest investments of an individual. The complex task needs a well-defined approach and is a step-by-step process which involves a number of critical aspects. Having a worthy consultation from an experienced realtor enables to get a grip on the relevant skills, knowledge and connections to precede the case in a proper way.

Hiring a real estate professional offers an array of potential advantages and ease the transaction process. They help to estimate the real worth of the property and have connections with the significant property seekers and possessors. Here is an overview on the most valuable benefits of hiring an experienced realtor.

Professional Experience

With adequate knowledge of the negotiation tactics and marketing strategies and the current real estate market, a realtor guides his clients to undergo the steps of the property selling/buying process. They are aware of the rights and responsibilities and work to strategize the best options as per the specific goals of their clients.

Quicker Closings

Realtors are extremely efficient in expediting the property buying or selling process. Often, properties sit on the market for a long period, requiring notable reduction in the value, to get it sold. If that happens, then one can incur huge losses which would overrule the realtor costs. Moreover, one also has to spend money on marketing the property whether on digital or print media. The real estate agents are a proven worthy choice who all have commendable negotiating skills and ability in closing the deal in a quicker way.

Excellent Negotiation Skills

Real estate professionals are negotiators with excellent skills and like a specialist present the specified terms and conditions of their clients to the other significant participants such as sellers/buyers, appraisers, inspection companies and loan originators. They precede the transaction in a worthy way to end up in legally binding contracts and offer adequate counsel and perspective to get lucrative results.

Ethical Business Policies

The realtors follow the legal rules involved in the property buying/selling process and follow the code of ethics while providing worthy solutions. Several states have their own set of code of ethics to regulate the operations of the real estate agents. Therefore, the real estate professionals work as per those boundaries thereby serving the customers with the adequate attention and strategic focus.

The realtors have a great command to improve the property appearance thereby making it more saleable. The presentation of a property matters a lot to attract the prospective buyers. Therefore, assigning a realtor for undergoing the complex task of property selling is surely a worthy choice for the sellers with valuable properties for sale in Victoria park.

Management Company or Not?

Since the dawn of condominiums and home owner associations (including cooperatives and time share resorts) the main issue has always been; what is the advantage of employing an in-house property manager vs: employing a management company. This question is the first statement out of any board members mouth. In reality there is no clear answer, the main issue is, how easy does the board want to live their life and at the same time run the community for which they were elected to serve. Having an in house manager has its advantages as the board is in total control 24/7. However, (in most cases) behind the manager there should be back up staff of some type, administrative assistant, bookkeeper, receptionist, then there is administration duties, purchasing, invoice verification, check writing, contract negotiations, maintenance and janitorial duties, staffing problems and the main item is dealing with resident owners complaints and maintenance issues. These are just a few of the various issues that a manager deals with on a day to day basis.

On top of this, the manager has to have continuing updates on Laws as they pertain to condominiums and HOAs so that their license may be maintained as per the laws of the State (Florida). This is done by many communities and private managers on a continuing basis. On the other hand, a management company has the same responsibilities, but is staffed, usually, by department, i.e. administrative, financial, legal, insurance, maintenance, janitorial and more. The ability to handle all aspects of management is the main function of the management company, such as having the ability to replace managers as may be needed either because of health, vacation, or other reasons, staffing requirements become the responsibility of the management company, thus relieving the day to day situations that a board might face. The final issue is “the bottom line” (cost) is there a savings one way or the other? Probably not, but a management company has an umbrella of insurance to cover all possible issues such as workers compensation, health insurance, 401Ks, unemployment costs and many more expenses. So the question continues; in-house management or management company? Although both options have their advantages and disadvantages, there really is no set answer, the final decision comes down to what an association board of directors want to accomplish in order to make their job easier and to have the most efficient way to operate their community with the wellbeing of the residents being kept in mind. Basically it boils down to a comfort factor… are you comfortable with your own manager and is there a great relationship and a trust factor, or would you be more comfortable with a company who will build a strong relationship and trust between the community and the management company. This is a choice that directors are making on a continuing basis, there is just no clear cut answer.

Ten Questions to Ask the Homeowners Association

Buying a high-rise condo or loft can be the entryway to a new and exciting lifestyle. However, one of the most common problems of condominium living is a dispute with the homeowners association, and unexpected increases in fees that can occur. You should look into a number of issues before making the decision to purchase your condominium. Here is a list of questions you should ask to determine how well the association is being run and how your expenses will be affected as a resident:

1 – What are the covenants, bylaws and restrictions of the association?

The condominium homeowners association should provide you with a current book of rules. Read these over carefully to ensure that you understand the restrictions on renting the unit, number of residents and other issues that could come into dispute. Ask the association if any changes in the rules are pending that could affect you.

2 – What percentage of the units is owner-occupied, and what percentage is tenant-occupied? The number of units that are occupied by owners, instead of being rented out, can have a significant effect on the marketability of your unit, when and if you wish to resell it.

3 – How much money does the association keep in reserve?

Associations that keep a sizeable “cushion” for unexpected expenses will not need to impose “special assessments” frequently. This foresight will help to keep your expenses lower.

4 – What does the association assessment cover, and what isn’t covered?

Find out exactly what the period assessments cover. Most assessments cover such services as trash collection, snow removal, pool maintenance and upkeep of public areas. However, some condominiums may cover additional services in their fees.

5 – Are the association assessments keeping pace with inflation?

Periodic fees can rise significantly in condominium associations that have not determined a reasonable budgeting process for the property. Ask how frequently fees have been raised and whether increases are expected in the near future.

6 – Over the past five years, have special assessments been mandated, and how much did each owner pay? – Frequent special assessments are a sign that the association is not planning realistically for possible expenses, and could be a sign that you could be responsible for additional payments in the near future.

7 – What is the rate of turnover in the building?

If the building changes residents more frequently than every 4 to 5 years, it could mean that there are problems that make it unpleasant to live there.

8 – Is there any litigation pending concerning the building or association?

Legal problems could mean additional assessments for residents in the future. Find out if any litigation is pending and the nature of the problem.

9 – Does the developer have a good reputation in the industry?

Some condominiums have been converted from other types of property. Find out if the developer has a good reputation for quality construction and reliability.

10 – Is the property handled by multiple associations?

Larger properties may be covered by multiple homeowners associations. This situation can lead to multiple assessments for various expenses.

Valuation of Property and the Benefits It Provides

When people come to think about buying or selling a house, they move on to the procedure of Independent house valuation, which helps them understand the value of their house as per the rates of the market. Though they are not quite aware of the details of property valuation in detail, they make it a point to evaluate their house only at the time of selling or buying. It has to be understood that there are a lot many theories that are included with the valuation of a property these days.

What is Income Method?

Income method is a type of property valuation method that estimates the worth of a property according to the revenue potential. The income that is generated that is calculated can either be from the rental income or from the re sale value. This method is pretty complicated, but is used widely by investors when they are about to place a value on any kind of property investment or to assess whether what they are investing will be profitable in the coming future.

For being accurate with the help of income method, one has to rely upon certain assumptions. They are:

• Resale value of property
• Income that will be gained from renting the property

How to calculate the value of property

For calculating these assumptions the current data of properties similar to the one owned is made use of, for getting a good idea on the value of the property. Valuation of this kind comes into reality when the income generated should be set against the capital so as to find out how property will become profitable for us, for estimating the property’s profit, is should be compared to a similar investment or same capital expenditure. This will help in assessing whether the property guarantees investment in future.

Can you calculate the risk factors?

The most difficult part of any kind of investment in property is to calculate the risk. Though we can research about the past, we will not be able to get the right solution for the same. It is a true fact that predicting about the property market is simply an impossible task. Though we can put an estimate on the property by taking a look at the current data and trend, it is extremely difficult to predict the speed or magnitude of the risks.

Income valuation method does not attempt to find out the current market situation. On the other hand, it depends mainly on the property value in the coming future. It takes the value of the future and compares it to the price that has to be paid at present. The estimate of the final sale value and the income for rent mainly depends upon predicting the market, which is to an extent very difficult.

Though this method is mainly used by serious investors and not by home buyers, we find that this method has a lot of advantages over the method of comparable sales. The advantage of this property valuation method is that it concentrates on the individual. It values the property to them and not the market. If you are very much serious in investing property, the income method of valuation can help you to know the large profits you are in search of.

Considerations To Make When Looking At A New Property

New property developments come up every now and then. If you are an interested buyer or investor then you know how important it is to be aware of what the latest in the market is. New property launches give you a chance to get a space, whether you are looking for a good commercial space or residential space to give you a home solution. Modern properties are done with the highest technology and you really do not have to worry about the structural strength of the strength especially when the developer is a trusted household name. However, there are still a few things that you should remember to look into before making a decision to buy the property.

The property area

It is perhaps one of the most important considerations you need to make when looking at the new development. Ask yourself if you will be near rowdy bars or pubs of shops, whether it is possible to find important facilities near the building for your convenience and how the transport network is in the area so you can have an easier time moving from one point to the next when you are not driving your car. Also important to consider is whether the property is near noisy roads, train tracks or underneath a flight path. If you have children and you are looking for a residential property, remember to check the schools that are in the property’s surrounding area so you know that the educational needs of your children are well taken care of.

The property area should simply offer you the kind of living or working condition you find most appropriate. Look at every important factor around you so you don’t end up buying a property that ends up being frustrating in terms of the surroundings.

The property size and safety

The number of units cannot be ignored whether you are looking for a commercial or residential property. In this same line, look at the number of storey that the development has and the size of the units. The essence is to make sure that you find a level you are comfortable with and will be comfortable accessing every single day and a unit size that matches with the specific size needs you have. When looking at a building that has a number of storeys, find out whether there are important amenities such as quality elevators or you would need to take the stairs every single day to your unit.

Also important to check depending on the size of the building is the exit design from the building especially in case of emergencies. Can you get out of the building fast when you are located at the top most level of the building? What emergency systems are in place to help when the unexpected happens? This is something that most people don’t remember to check when looking at new property launches, but one that is of great importance. Look at all safety and security measures put in place within the building before going ahead with the purchase.

What Makes Your Property Unmortgageable

Within this guide we cover all the pitfalls that can result in your property becoming unmortgageable. Sellers make innocent mistakes without the knowledge that their house will become unmortgageable.

So, What makes a property unmortgageable?

    • Properties that have been neglected for years, as they may not be suitable for human habitation. People can find themselves in this situation when buying a property to refurbish. Running out of funds or change in circumstances can affect your project.
    • That don’t have kitchens and bathrooms or ones that are very dated are deemed unusable.
    • Believe it or not, a property with two kitchens. Why? Lenders assume that you could sub-let part of the property having bought it using a residential mortgage.
    • That are valued below £50,000, you will require a reliable cash buyer.
    • Apartments or Houses with leases less than 70 years. The freeholder has the right to take possession of the property after the lease expires.
    • Properties with structural issues, evident from cracks in ceilings and walls. These properties will require underpinning and remedial work carried out. Such properties remain unmortgageable and uninsured for five years or more following all work.
    • Subsidence occurs due to the soil surrounding the foundations shrinking or swelling. This causes the foundation, which supports the walls to move. Evidence of subsidence can be uneven floors, cracks within external walls and cracking above window openings. Even when fixed subsidence and structural issues are a stigma on a property. You will be required to disclose any of these issues to a buyer.
    • Properties that are close to mining works, areas of landfill or history of flooding are unmortgageable.
    • Properties with sitting tenants or regulated tenancies are unmortgageable. If tenants moved in before 15th January 1989, you have sitting tenants.
    • Properties with a defective lease are unmortgageable. An example of a defective lease is a block of flats and maintenance of a shared roof are unclear.
    • Properties with damp, dry or wet rot, wall ties or damaged floor joists are unmortgageable.
    • Properties with boundary disputes
    • Buildings in severe disrepair or dangerous
    • Illegal extensions without permission from the local councils planning and building control departments
    • Properties with non-standard construction, such as per-fabricated concrete
    • Properties that are next to commercial premises or apartments above food takeaways or shops
    • Properties within a close proximity to Japanese Knot-weed.
    • Properties with flying freehold
    • Fire damaged properties
  • Derelict agriculture buildings

This is not an exhaustive list. If any of the above points apply to you or you know your property is unmortgageable, there are many real estate companies that can buy your property at best costs.

Who’s Watching Your Home?

Many people today own more than one home. Resort areas are popular for having a large number of 2nd homes and homes or condominiums that are used as Vacation Rental properties. It goes without saying that, as a 2nd home or rental property, there will be some time – days, weeks, or even months – when the home or condo will be vacant. When you’re gone, any number of things can happen, and so the question “Who’s Watching Your Home?” is a very important one.

A home or condo that is obviously vacant can be very attractive to any number of unwanted visitors. Someone looking to make off with electronics (televisions, stereo equipment, computers, etc.) will often look for homes that sit vacant for a period of time. It makes their “job” much easier when no one’s home. They will look for obvious signs, such as an accumulation of newspapers in the driveway or yard; or finding several old advertising flyers or literature left in the door. These are almost like a big sign saying “NO ONE IS HOME!”, and that message is not lost on people in that element.

Aside from thieves, there are other unwanted visitors to contend with. Homes that have no human activity can quickly become homes for animals – racoons, squirrels, birds, rats and mice are common problems. These animals can do a lot of damage in a short amount of time, and cleaning up their mess can be costly.

Along with unwanted visitors, common problems include: frozen pipes, broken windows, vehicles with dead batteries just to name a few.

And so, we ask: Who’s Watching Your Home?

There are businesses that cater to this market. They are designed to provide an ongoing “check-up” for owners that are frequently absent. A big part of what they do is to make regular visits to the property and assess the condition. Many also offer services to keep the home from becoming attractive to thieves, by cleaning up old newspapers and flyers. Some of these businesses are listed as “property managers”, some as “caretakers”, some as “home checks”, but regardless of the name, they focus on a basic service: to be your eyes when you are away.

When looking for one of these businesses, there are some basic service offerings to look for. See if they offer indoor and exterior inspections, if they maintain the property, if they provide guest prep and departure cleaning services.