This Months Real Estate Insider Newsletter
Each month, we publish a series of articles of interest to homeowners — money-saving tips, household safety checklists, home improvement advice, real estate insider secrets, etc. Whether you currently are in the market for a new home, or not, we hope that this information is of value to you. Please feel free to pass these articles on to your family and friends.
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Refresh Your Interior Without a Renovation
There are a lot of things you can do to refresh your home without renovating. Many of these are cheap and some are free. You can do this by adding, reducing, or using new color arrangements and decorations. Details such as textiles, color arrangements, accessories, and hardware can make a room more or less formal, or move it from one style to another. Here are some suggestions.
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Is it a Good Time to Buy a Home Despite Coronavirus Pandemic?
“Even during these challenging times, there is still much you can accomplish in your quest to find your dream home !”
When an unexpected natural disaster or pandemic crisis interrupts your plans to start hunting for a property, all is not lost. It could be the time to buy an investment property. While opportunities to meet with a real estate agent or tour homes for sale may be on the back burner, there are still ways you can work toward buying your dream home.
House hunting during a time when your area is shut down can have its benefits. There may be less competition for the houses in the areas where you might be planning to move, and sellers may be more motivated to sell or more flexible on price. Hunting virtually can be beneficial if you find you have the time to shop online more thoroughly. This will give you an advantage in finding a home you love within your price range. When this pandemic crisis is over, house hunters may be back on the market and prices may escalate due to a more competitive market that benefits sellers rather than buyers, so taking a few steps forward now could be the right move for you.
If you are just beginning to look for a home, take time to research the areas where you want to move, the home values of that area, and the average selling prices for the home you are interested in purchasing.
If you were all set to start house hunting but is disrupted by this pandemic crisis, don’t worry, you can still view houses on the market right from your own home, at your convenient time. Real estate agents post virtual tours and pictures of for sale properties on their websites. This will let you take a virtual and realistic view of the property.
Even during these challenging times, there is still much you can accomplish in your quest to find your dream home! |
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Transform Your Living Room Into a Home Office
The Coronavirus pandemic has certainly been damaging many sectors of the society and has completely changed the way people live. Due to the regulations that have been put in place to curb the spread of the deadly illness, many social norms have been changed. Most countries have closed down their borders to avoid importing any newly infected people from other countries which affect the global economy and threatened the closure of numerous businesses. Employees have now been forced to complete work obligations from their homes.
In order to do this without having to compromise on productivity, you should consider creating a dedicated workspace. One of the most suitable places to set up your work-from-home station is in the living room due to its multi-functional nature. It would be best to separate the working and living spaces so as to ensure maximum efficiency.
A lot of employees are currently working from home. The most important thing about a work-from-home station is the location. Finding the perfect place in the living room to create your workspace can be quite tough since there are several things to consider such as proper lighting and the overall arrangement of the room. To help you make an informed decision, here are a few ideas when setting up your remote office in the sitting room.
Under the Stairs – If you have an open staircase in your house, you can make use of the space under the stairs to create a unique and practical workspace. Creating your remote workspace here won’t require you to rearrange much of your living room in order to create more space for your desk and other furniture.
Dedicate a Corner of the Room – It is a great way to make a workstation in a particular corner of your family room to act as a small workspace – this will not use too much space. This works great for people who have small living rooms. Keeping your office space in the edge will enable you to work without getting in the way of other activities.
Utilizing unused spaces – In a typical home, there are many corners and gaps that can be utilized to create great workspaces. For instance, you can turn an unused closet into a small home office with the help of a few retouches. The use of small furniture can help you capitalize on the limited space available in such small spaces. In addition, you can incorporate overhead shelves as storage units in order to avoid using bulky furniture. What’s more, in order to prevent feeling claustrophobic, you can paint the walls a bright shade and decorate the room. |
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5 Things Home Buyers Always do Wrong
Are you excited to buy a home and go through the process? Do you want to jump in immediately? These are common reactions to most people. Most buyers make common mistakes which always cost them time and money.
Here are 5 mistakes buyers make when shopping for a new home:
It is okay to enjoy the process but if you are not prepared with your financials, this can turn your excitement to panic. Having your financials in order is very important as this will put you above the competition when you find a home that you want to go after.
You should know your neighborhood day and night. Immersing yourself will allow you to have a clear picture of your surroundings. Always, ALWAYS go back to the neighborhood at nighttime. It will amaze you how one neighborhood can be in the daytime vs. night. Loud music, parties, etc. can sometimes be observed only at night. So, it’s a good idea to check a few times to see what’s going on after the sunsets.
Always research your agent, thoroughly. There are good and bad, just like any other profession. An inexperienced agent can cost you time, money and can actually minimize your chances of finding the property you really want. Have someone who is an expert problem solver, have “insider” information about properties/areas and can get you a great price on your home from their negotiation skills.
Always try to mentally remove the furniture and paint color. This is a massive help in getting the most value of a property. Location, square footage, and layout should be the mantra in your mind when viewing a property!
Never ever skip the home inspection. There are a lot of things which could go wrong with a house. Not having knowledge of these things can cost you so much in the long-run. Also, you need to go through the process of checking and comparing homes physically. This is to get a clear picture of what is or what isn’t a good deal. |
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The Advantages of Owning Rental Property: Why You Should Invest?
Maybe you have considered venturing into the world of real estate investment yourself, and are drawn to the idea of becoming a rental property owner.
The current trend is that millennials are renting through their 20s and mid-30s. With renter households growing than owner households, landlords are at an advantage in the rental market hence, you may want to take a good look at the benefits.
Here are a few perks to becoming a landlord:
- Passive Income Source
The biggest benefit of owning rental property is that it’s a passive income source. This means that it is a recurring income that requires relatively little effort to maintain.
- Greater Security
Some people have to make a temporary move for work. Others inherit a family home that they don’t want to sell for sentimental reasons. A vacant home is left open to vandalism and squatters, and maintenance issues. It’s hard to always keep an eye on a home you aren’t living in. Renting the property out to tenants can give you peace of mind that the home is being maintained and watched after.
- Flexibility to Sell at The Right Time
Say for example you’re ready to move, but the market conditions are not good. Instead of selling your property, you can have it rented until market conditions improve. Renting out your property gives you the option and flexibility to sell it when the time is right.
Owning a rental property can be beneficial both financial and personal. But it comes with risks especially those involved with renting to bad tenants.
Implementing a thorough tenant screening process is the best thing you can do to protect yourself and your property. Checking the tenant’s capacity and ability to pay, criminal and eviction history gives you a well-rounded view of who they are and helps you decide whether renting to them is a risky move.
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