Month: January 2019

Buy a House With Cash

Frugality is the Name of the Game

While it’s very likely that everybody would buy their home with cash if they could, hardly anybody does. This is because most people just lack the discipline to save up.

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 …

East London Properties

The transformation of London is well and truly under way. In addition to the progress being made on the sports venues and games facilities, developers are building a number of new houses and East London apartments. Meanwhile, various transport infrastructural improvements are making good progress.

Make no mistake, the Hackney London property market is currently one of the UK’s top property hot spots.

Yet the supply of Hackney London properties is still falling short of growing demand, due to the fact that more people are looking for houses and apartments in London to buy.

With most East London property developers reporting a high volume of forward sales, often before ground has even broken on new build homes, house builders are competing for more land upon which to build more East London properties, particularly apartments.

The lack of East London properties – both houses and apartments – along with increasing property prices is a cause for concern for many people, as they are being priced out of the East London property market.

Two-thirds of parents with children living at home believe their offspring will not be able to afford to live locally when they leave home, due to the property shortage …

Ways to Save Energy at Home

Weatherstrip the Doors and Windows

One of the best lines of defense against the sun in hot summers and chilly winds and snow in winters is weatherstripping.* Once you weatherstrip every window and door in the home, you will be surprised by how much your energy bill becomes reduced.

Identify other gaps in your home for heat loss such as mechanical chases, mail slots, chimney, and outlets on exterior walls. Air leakage is one of the key factors responsible for heat loss in your home, so plug the leaks.

Regularly Maintain all Electrical Appliances

Make sure that various domestic appliances at your home such as the refrigerator, freezer, dishwasher, washing machine and dryer, microwave, and other kitchen gadgets are maintained in outstanding and operable condition.

Simple DIY maintenance projects can do the job for you, or you may make an annual appliance maintenance and repair contract with a professional company. This will significantly reduce your home energy consumption over a period of time.

Use Appliances Efficiently

When you use the washing machine with your dryer, try to wash the bulk of clothes in a single cycle. This will ensure that multiple loads of clothes are dried while the dryer is …

Downsizing Your Home

  1. Ease of mind: If your move coincides with retirement, your decision should first consider, the best way, to proceed, so you are comfortable and, at ease. Determine what you believe you will need monthly, and then add 15 to 20%, to that number. Subtract what you receive from Social Security, and pensions, etc. If you still need monthly stipends, consider putting a sufficient amount into a relatively safe investment vehicle, such as a balanced mutual fund, etc. If possible, put an additional 10% into this vehicle.
  2. No such thing as, one – size- fits- all: Pay close attention to your personal comfort zone, because if you are uncomfortable, it is not your best choice. Consider your age, sources of income, nest – egg, etc.
  3. Should I invest? Probably yes, but carefully interview potential advisers, and get recommendations, consider how you relate, and if you trust him. For most, avoid speculation, unless you can afford to lose that money. Publications such as Morningstar, are generally, valuable resources, and sources of reliable information. Most are best served, by using mutual funds, with a track record of doing comparatively well, in various market conditions. However, if you will panic, avoid this approach.
  4. Be

Managing Property

Pros

Managing your own property gives you direct access to how it is operated. You supervise the repairs and fixes, or the changes done to it before it is offered to potential tenants. You also deal with them and decide whom to grant temporary care and ownership of your property as tenant.

When you are hands-on with your property, you become in-charge of tenant screening. With this, you have the sole discretion on who will stay on your property. It’s like building good relationship with your tenants because you personally deal with them. When problems arise, you don’t have to ask someone to deal on your behalf.

Another advantage of managing property on your own is it allows you to see the real condition of the property. You can conduct regular visits or inspections to see whether the property and its contents are well-maintained by the tenant.

Managing the property on your own will also let you directly collect rental payments. You can be confident that what is due for you will be given to you. You can avoid fears of non-remittance, a common problem encountered by property owners who authorize another person or entity to collect property rentals in …

Ways To Locate An Apartment

Real Estate Broker: You can seek the services of a professional real estate broker to lend a hand to find suitable Cincinnati Ohio Apartments. Hiring a real estate broker is the traditional way of locating a home to rent. This is also the most effective method to locate an apartment that meets your requirements and pocket. Choose an experienced and reputable real estate broker who knows the area well. Most real estate agents and companies now have their own websites.

Search Internet: There are several websites that offer assistance in finding Cincinnati apartments to buy or rent. These websites provide information on the rent, floor plans, number of bedrooms, number of bathrooms, and other important features of Cincinnati Ohio apartments that are available for rent or sale. Many websites also provide photographs, images and views of the apartments.

These websites allow users to use certain specific search criteria, such as rent, location, type of apartment, type of building, number of beds and baths, neighborhoods, and zip codes to narrow down their search. Cincinnati boasts of various types of home, ranging from cheap simple Cincinnati apartments to fully furnished luxurious expensive apartments. This feature enables you to easily find suitable Cincinnati …

Become A Real Estate Industrial Manager

Many industrial managers are usually employed by property management firms which administer the properties on behalf of the clients like apartment rental companies, construction firms and industrial site operators. A manager has to negotiate the lease agreements with the renters and get contract service companies to repair, clean and maintain the property. In some cases, a manager can preside over the team of workers handling bookkeeping, customer service issues and several other areas of responsibility. Normally, a person who wants to become a real estate manager for a company or property management firm must have a degree in management, business administration or any other related subject. In addition, many employers demand that a manager must have work experience in management of properties including some experience as an assistant manager or junior supervisor.

Investment portfolios like the ones held by mutual funds normally contain investment firms and real estate holdings usually employ property managers to handle everyday management of their assets. This person has to identify proper properties to be bought and negotiate the price, purchase, lease and final sale of the property. The managers are normally tasked to both ensure that there is a recurring income through the rental payments …

Problems With a Property Following Purchase

First, you have to be sure that the seller gave a sort of warranty and guarantee. This have to be on document. Otherwise, you’ll have a hard time proving it.

Should there be a strong proof of the said warranty, then you can have the seller liable for the undisclosed problems.

Fraud is another thing which you can have the seller accountable for. Under this instance, misrepresentations or omissions are committed with the intent of not allowing the buyer know of the flaws. There is a clear intention of hiding imperfections such that the buyer is made to believe that the house being sold is in either excellent or very good condition when in fact there are problems or defects.

Structural defects are the most common defects that are hidden through seller frauds. But be aware that some sellers might also be knowledgeable of the kinds of materials declared in the documents when in fact those are not actually the compositions or the types used. Omissions are considered fraud because of the similar intent of not disclosing a known problem.

To make it fair and square with sellers, they are not always liable when problems are discovered after the house …

Wealthy Can Save on Real Estate

Closing Adjustments

Sellers can earn back all money paid regarding service contracts and supplies that are transferred to purchasers. Sellers have to identify each contract that has been prepaid for the home’s carrying costs and generate a per diem cost allocation.

Use a 1031 Exchange

In order to defer capital gains taxes, you’re likely to see wealthy individuals making use of a 1031 exchange. So long as one piece of property is sold so that a like kind property can be purchased within a timeframe outlined by the IRS, the individual can decrease present tax obligations.

Factor in IRC 121

Another way to carefully evaluate minimal capital gains taxes in the present is to consider IRC 121, that allows for homeowners who time their closing appropriately to avoid capital gains taxes on the first $500,000 gained from the sale based on the original purchase price. In order to get this benefit, at least one of the spouses must own the home and they must have used it as a main residence for two years or more together.

Mortgage Interest/Tax Deductions

In general, being aware of deductions and including them in your tax planning is very beneficial, regardless of whether these …

Common Property Frauds

  • Executing the purchase and follow up activities
    Make sure your builder sticks to the possession date that he has promised because often builders delay when they do not find buyers or their resources dry up leading to no money left for completing the project. Getting possession of your house as soon as possible has several benefits, one being the tax benefits that kick in after possession. The period prior to the possession date has a different tax treatment as pre-construction period.¬†Once you get possession of your house, the builder is responsible for maintenance of the building for a period of 18 months after the Occupancy Certificate (OC) is given. By the end of the 18 months, the builder will initiate the formation and registration of the society, which will elect its representatives and take over the management of the society from then on. Once the society is formed, telephone and electricity bills will be given in your name. Hence, it’s important to ensure the society is formed within the stipulated time.
  • Deliberate Delays:
    Even though the builder may have a handful of successful projects, it is important to ensure that the builder lives up to his promises in the