- Not checking with local authorities. You have up to three sets of people you need to get approval from if you live in a city, suburb or especially a historical district (folks in rural areas usually have little to worry about here). Check with your local zoning board. There may be restrictions on what you can do to the exterior of your house, especially if your southern exposure faces the street. Sometimes it is as simple as applying for a zoning variance. It may take a few weeks to get approval but cover your behind! One pesky neighbor could bring your solar dreams to a halt. The building inspector needs to be sure you are not putting your roof in jeopardy. Solar panel are heavy and roofs are not designed, generally, to carry loads. You may need to reinforce the area over which you are planning to install the panels. Most newer homes, however, shouldn’t need altering. If you belong to a homeowner’s association make double sure you have the latest bylaws in hand. Make sure you don’t need approval by the association to install panels. I would even suggest having a lawyer look over the regulations before you start
Know Your Budget
The number one tip when it comes to house flipping is to know your budget and not give into the temptation of exceeding it in the hopes that you can chase higher profits.
Before you even start looking at any houses, figure out how much you have to spend in every area of the transaction. Know your limits when it comes to the purchase price of the property and understand how much it is going to cost you to do whatever work needs to be done. When buying a foreclosed home you are often asked to buy it as-is, so you can’t count on any smaller issues being touched up for you. Plan for everything and make sure you have some money in reserve, just in case.
Select The Right Market
Some cities are better than others when it comes to flipping houses, so be sure to take a little time to research the current figures to see which ones are currently hot. Of course this means having the capacity to be able to travel from state to state, which may not be desirable when you are just starting out.
If you want to stay local then …Read More
Greenhouses are made almost entirely of glass windows and skylights, which allows the sun to warm the interior, making a tropical climate for both humans and plants. Overheating and sunburn will not be an issue, as long as proper glazing options are considered. Incorporating low emission glass coatings, such as LoE 366, will produce a highly efficient glass structure that will block harmful rays in the summer and insulate during the winter. Ventilation will be crucial to ensure air circulates and does not become stagnant. Ridge vents, eave vents, and operable windows are great ventilation options for both humans and plants. Incorporating a retractable roof skylight will open the structure to the outside on warm, sunny days.
Growing palm trees inside the greenhouse is an ideal way to create a vacation atmosphere, as are hibiscus, and practically any vibrant tropical flower. Before cultivation begins, however, it is important to research the various preferences of each plant in order to ensure the greenhouse growing environment is mutually beneficial for each different species. Once the vegetation has been selected, creating the perfect interior environment will be easy with the help of a greenhouse control system, which integrates all lighting, heating, cooling, and …Read More
Frugality is the Name of the Game
Now, if you make 20-30 thousand dollars a year, you’re going to be waiting a long time to buy your own house, even living on the bare minimum.
But, if you are someone who makes 50 thousand or more per year, or you also have a spouse who makes just as much as you, it is very possible for you to buy your own home with cash, in a couple years.
If you can manage to save just a couple thousand a month for a period of 5 or more years, you’ll be right in range to buy a nice house all by yourself.
Benefits to Buying With Cash
The benefits to buying your home with cash are usually not afforded to those with a hefty mortgage to worry about. For instance, without a mortgage payment, you can plug more money into your retirement plan, thus bringing about your retirement earlier, or having more money to blow when it is time to call
- Purchase price – the agreed price for which the property will exchange hands.
- Renovation Costs – money budgeted for renovations prior to the property been made available for rental.
- Agents Fees – in some countries it is common practice for the buyer to pay some or all of the real estate agent’s selling fees/commission. However, in most cases these fees are paid by the vendor.
- Stamp duty – a duty placed on the purchase of a property charged by the local government for the registration of the property into the new owner’s name.
- Mortgage Application Fees – charged by lenders upon application to secure a loan to buy the property.
- Travel Expenses – flights, car hire, and hotel costs incurred when travelling to personally inspect a property.
- Solicitors Fees – payable to the solicitor for all of the relevant legal work for the transfer of the property.
- Research – books, local suburban reports purchased to research a suburb.
- Accountants Fees – the property may be purchased in the name of a Trust or Company. There may also be a crossover here with the solicitor’s fees.
- Council Rates Cutover – A vendor may have paid rates up to a
When you are investing for the purposes of capital growth, there are certain kinds of retail, commercial or industrial properties that can be a very superior option. It is important to know that not all kinds of properties will perform the same. There will always be differences.
When you start to analyze the great potential of a physical property, location and position need to be considered and should actually be the key elements in the process of making a decision. In property, the capital growth of an asset comes from the increase of the land value and the location influences the demand and supply for the land and this then determines the value. A good example is a central business district where the value of land is very high and this actually drives the capital growth.
When the land value goes up, then the value of all the improvements or even the building itself will depreciate with time. This means that the land appreciation should be sufficient enough to counter the building depreciation and also to grow the asset value with time.
Position means how easy it is to access the property. You should ensure that the location matches with …Read More
Your first step should be to convert the natural solar power into energy that we need for heating and cooling our homes. This can be done by installing solar panels. The money that goes into this act depends on the total area that you want to heat using these panels. For instance, if you want to heat your three story house entirely, then this would certainly be a huge investment. On the contrary, if you wish to use the solar power on a small scale, for example only on the pool shed or on your garage’s roof, then it would be quite affordable.
Properly insulating the attic of your house can also help you make your house green. Proper insulation would make your house stay cooler in the summers and retain heat during winters. There are lots of insulation options that can be considered, depending on where they would be used. Some of these options include spray foam, fiberglass, cellulose, soy beans, old denims, old newspapers etc.
Even, by simply replacing the old traditional bulbs with CFL bulbs, the monthly lighting costs can be significantly reduced. You can even consider hiring an experienced contractor to get the old and drafty …Read More
A realtor takes, “I’m going to sell my house” into “I’m selling my house.” And they save you stress while they do. Otherwise, you can spend weeks just finding the right platform to sell your house on. Not to mention you have to filter all the potential buyers yourself. This is incredibly time consuming and comes with a ton of drawbacks. Only one of which is hearing every reason you should either give your home away or do owner financing. You can even end up potentially putting yourself in danger.
When you work with a realtor, you work with bigger numbers. Your agent can set you up with more verified, serious buyers than you can find yourself. They also have access to bigger advertising funds and more resources for home listings. All of this leads to a much better, happier sell.
Have you ever wondered why some homes have handwritten signs on a post while others have full-color gloss sheets? The answer is usually one has a realtor involved. Realtors know exactly what potential buyers want to see and know. They have the funds to create professional, appealing advertisements for your home. You aren’t left waiting for someone to call …Read More
Realistically, success in flipping real estate depends on your ability to buy a less-than-perfect property at an exceptional bargain price, and then invest in repairs, staging, and advertising to make the house capable of drawing a profit with appealing buyers. If you have the means to invest in properties, and you’re good at selling your product, then there is no reason why you can’t generate a substantial income by flipping homes for sale.
Before flipping a property, do your math homework. You need to know exactly how much money you can invest, because your flipping experience depends on that investment. Figure out how much you can spend on your first buy, as well as how much you are willing to spend to fix up the property.
If you want to get an optimal profit while still pricing competitively, then you will need to know your market. Research the types of homes for sale that are moving off the market at the most rapid pace. If you want to continue flipping, your priority should be to move your first buy quickly and at a profit. Start by monitoring the market. In order to make the right renovations and decor selections, you …Read More
List with an Agent
Selling the home with an agent offers many benefits for the homeowner as well as inconvenience. There’s a reason these professionals charge so much for each home sale, but that high price tag, as much as 6% of the purchase price, may be more than you are willing to part with on a sale. A $300,000 house could cost the homeowner $18,000 in commissions, reducing the proceeds for the homeowner. When repairs, clean-up,improvements, open houses and other showings are factored into the process, plus the extended time it takes, only the Owner can determine if this approach is right for them.
For Sale By Owner
Selling your home on your own is one way to cut back on fees. It also provides the homeowner with lots of freedom to do things their way. On the downside, going the “For Sale By Owner” route can mean a lot of work and extra time. The homeowner is responsible for prepping their home, performing due diligence, marketing the property, listing it on the MLS, dealing with homebuyers and closing escrow. The homeowner is responsible for a lot of things in their home sale when they go this route.