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modern apartment
By - Crosby Calhoun

Top Tips for Buying an Apartment

Pre-purchase Inspections

You should obtain an independent valuation before you purchase an apartment. The valuation can help you negotiate with real estate agents and give you an indication of the financial situation you want to be ready to offer. Moreover, it is advisable to take a strata report. It will tell you the financial health and physical state of the apartment complex. In fact, it will reveal where there are complex issues.

Location

This is a vital thing to consider when buying any real estate property. You should note that poorly located properties are difficult to rent and sell. Thus, they will suffer from low capital growth. Some of the vital things to consider include:

  • Proximity to transport, amenities, and shops
  • Rental vacancy rates
  • Potential for capital growth
  • Demand for accommodation in the area
  • Future development plans

Apartment-specific

The truth is that a functional and well-designed apartment is bound to enjoy growth and create an opportunity for cash flow. These are some of the things you need to look out for:

  • Outlook and views – A great outlook is preferable, particularly if outdoor balconies and areas take advantage of the views.
  • Occupant mix – go for apartments that have a higher number of owners as compared to tenants.
  • Parking – check whether the apartment has secure parking for you and your visitors.

Finance

As an investor, you know that there are different ways of financing your investment. You can seek home loans that are tax-free. In this case, you can use equity from another property or your savings to reduce purchase costs and avoid the costly mortgage. You should avoid small apartments, served apartments, and inner-city apartments. That is because most lenders do not want to lend money for such apartments as they are volatile.

Nowadays, you can also get no-deposit home loans. These are not good for every person, and in some instances, you will have to make a contribution to cover the costs. In fact, some home loans do not require any deposit at all. However, they are available for people who have a higher income. Remember to watch out exit fees for these types of loans as some of them charge hefty fees if you close the loan with five years.

housing
By - Crosby Calhoun

Increasing Property Value 101

Should you bother with the value of your property? If you’re thinking to re-sell your house or apartment in the future, then yes you really should be bothering with the worth of your property. When taken care properly, the price of your property could double or even triple from the original price that you bought. If you’re reading this article, then you’re probably looking for some ways to raise the value of your building, if so then do not worry. In this article, we’ve listed some simple ways on how you can increase your property value with no problems at all.

Refurbish

If you feel like your house is old, then there’s a good chance to renovate or refurbish your house to increase its property value, like the kitchen or the bathroom. Yes, it’s not as cheap as it’s being said, but it’ll raise the worth much more. Let’s face it, who wants to live in an old kitchen that has the potential to attract ghosts and rodents?

Clean Your House

cleanIf you’re already putting up your house on sale and a potential buyer wants to see the house, you better ensure that your house is spotless. A dirty house with pests will drive anyone away or even worse; the value might drop right away. If you’re struggling to clean or keep the pests at bay, consider getting help from a professional cleaning service.

Add Something

Adding something to your property, be it for utility or aesthetic purposes might raise the value in the market. For example, adding a simple white thicket fence can increase the aesthetic and safety value in your house, which might cost you a few hundred dollars, but it’s worth it. Try to look at the internet for inspirations and what kind of look that you’re trying to go after.

Hire a Home Inspector

womanLike a business consultant, you can also get a consultant for your property, which is a home inspector. A home inspector can inspect your house and try to figure out how much your property is worth. The good thing of having a home inspector is that they can give you an estimate of how much your property is worth and an unbiased opinion on what you can do to make the value go up.

island home
By - Karen Groth

Investing in Property Like Celebrities

When it comes to investing, one of the hottest market to invest in is the real estate market. A lot of people love investing in property, even celebrities. We’ve all heard the news of stars owning several houses. Besides purchasing them for vacation homes and a place to stop over, these homes that they have is an asset they have acquired for investment purposes.

We all know the likes of Beyonce, Taylor Swift, as well as the Kardashian clan who own houses not only to live in but also other homes that they rarely use. These houses are held for investment purposes.

Investing itself is a very crucial thing that you need to do. It is essential that you own something that can be cashed in later in the future. Therefore, you should try investing in the real estate market and shop for property, as the celebrities do. In this article, we are going to talk and discuss several key practices that you can take as an example from the stars. Here is how to invest like a celebrity:

Sell It When the Price Is Right

mansion

Let’s take actor Donal Logue as an example. He sold his Woodland Hills home for $1.16 million. His initial buying price was $970,000. That is a 20% increase from his initial purchase, which was seven years ago.

This increase in sales shows how the real estate market keeps on growing and growing while the prices get higher and higher. However, you should keep in mind that when you want to sell your property, you should look at the condition of the market and only sell when you think the price is right.

House Flipping

A current trend nowadays when it comes to real estate is house flipping. House flipping is a trend where people buy houses for a very cheap price because of its unlivable conditions and then they redesign and make improvements to it so that they can sell it for a higher price. Nicole Polizzi, or more known as Snooki, even has a reality show based on her attempts in this endeavor with his husband.

Quality or Quantity

vacation home

When investing, it is important to note that quality always comes first. A tip from celebrities is that you should always consider the location. Location is a crucial consideration when it comes to selecting real estate. Like the George Clooney, Brad Pitt, and Leonardi DiCaprio, they all have homes in prime luxury vacation spots. Once you buy real estate that is located in an excellent location, only then you can start and expand your collection by buying more in quantity.