House Prices Are the Lowest in 12 Years
Looking at the statistics we are starting to see a fall in house prices in many different markets. Living in Ireland we had a housing boom for 10 years when prices kept going up, as many people expected this could not last very long so since 2009 it has been in steady decline. This is very important issue for people that purchased in 2007 and 2008 as many of these people are now paying mortgages which are now in negative equity.
3 Useful Tips to Invest In Property in Bali
The property market in Bali has seen significant growth in recent years. A major reason for the property transformation is the boost in the country's tourism that has seen more people visiting this island destination. Many of the properties are modern and outfitted with state-of-the-art amenities, which make them very interesting to foreign investment.
A modern villa is certain to make a very appealing place for retirement or even a source of rental income. However, there are many rules and regulations in place in regards to foreigners purchasing property in the country. Let's take a look at a few key points to consider:
Learn the property ownership structures
The property market in Indonesia is a lot more open to foreign investors than in the past. At one point, the country had laws in place to prevent foreigner ownership. They date back to the time of gaining independence in 1945 after a long period of colonial rule.
However, there are still several ownership structures in place that determine the right to own property. The options that are most feasible to foreign ownership are Leasehold (Hak Sewa) and Right to Use (Hak Pakai). Either of these options is basically as good as having the option to own. For instance, a leasehold certificate can last for a period of up to 80 years.
Additionally, there is the need to show to the Indonesian government that you have an intention to invest, work or live in the country in order to get permission to purchase property.
Use a local real estate agent
If you are looking to invest in Bali's property market, it is essential to use the services of a professional real estate agent with the right knowledge and understanding of the local laws. Using a local will avoid any misunderstandings when it comes to language skills. Also, the legal system in Indonesia is quite complex, so you will find hiring the services of a local lawyer to be very useful.
Research the property market
With the boom in the local property market, there are several areas that have seen a soar in the land and property prices, such as parts of Petitenget, Seminyak and Kuta. For this reason, it may benefit to look at investing in other areas that present the most favorable returns on the investment. A few of the less saturated places include Tabanan, Canggu and South Kuta. Also, there are plenty of nearby small islands that can offer a great investment opportunity. Make ทาวน์เฮ้าส์มือสอง ดินแดง sure to put in the time and effort to identify the best areas that match the available budget.
Guidance on Leasing an Executive Office
There are a number of factors that you require to think about when taking into consideration leasing an executive workplace. The leased workplace may be called for solely as a work area and also seen just by workers, or it might be a workplace that potential or existing customers as well as clients will go to. In either instance, you need to take different elements right into factor to consider.
Loft or Condominium?
Most urban centres will provide home buyers with a wide range of choices for their accommodation needs. Just two of these choices include lofts and condominiums; but generally speaking, buyers interested in lofts will also be keen to view condominiums and vice versa. Nevertheless, despite the many similarities, there are some distinct differences between these two types of property that may or may not make them suitable for your needs. If you are trying to decide between buying a loft or a condo, special consideration of these differences is necessary.
First of all, we should mention that in today's real estate market, condos and lofts are often seen as interchangeable. In fact, in many regions lofts and condos are legally the same. With both types of properties, an owner holds title to personal living spaces, but also shares ownership of some common living spaces. These common spaces may include the lobby, garage, gym and pool, landscaping and more. In addition, most loft and condo owners will be part of a strata or some kind of organization that determines a special code of conduct with respect to the responsibilities of individual owners when it comes to maintenance of shared properties.
However, there are some specific features that make lofts and condominiums different. Most real estate investors picture a loft as a somewhat more rugged property with a design that often embraces tall ceilings, open spaces, and more modern decoration. Exposed brick, concrete or granite counters, hardwood floors, and exposed beams are just some of the features we associate with traditional lofts. Indeed, the quintessential loft is essentially a conversion of an historical or industrial building. The repurposing of these properties from commercial or industrial to residential has had a significant impact on the overall style of lofts. We associate lofts with urban centres, and many of the best lofts are found in gentrified neighbourhoods. Still, the popularity of lofts has changed the way they are built; and today, even brand new buildings often feature lofts.
Alternatively, condominiums and town homes are usually new. Sometimes there is a great deal of crossover between the design elements of lofts and condos, but condominiums are much more similar in style to detached single-family homes. Room divisions are more distinct, and some of the more rustic attributes of lofts are not found in condominiums. Home owners are certainly responsible for the decoration in their home, but condos more typically feature carpet, and more traditional kitchens, bathrooms, and bedrooms.
While not always the ทาวน์โฮม สุทธิสาร case, lofts tend to be less expensive than condos as they can be more similar to a studio-style apartment than a home. Moreover, buildings with condos often offer more amenities than lofts including larger gyms, private landscaping, and sometimes even concierge service. As such, strata fees are typically higher for lofts. However, though most of these points allow you to make sweeping generalizations about the differences between lofts and condos, the lines are grayer today than in the past. Depending on your chosen neighbourhood, price range, and required amenities your real estate agent should be able to help you find the perfect property, whether it is a loft or condo.
Building a Duplex: Tips and Advice
Investment properties in Australia are a hot commodity; not only can you increase your real estate investment portfolio, you can also use your investment property to garner additional income for your family. One of the ways to accumulate an investment property is to buy or build a duplex or other dual-occupancy property. A dual-occupancy residence can be detached or semi-attached, such as an apartment over the garage or a separate building on a piece of property. When building a duplex, tips and advice from those who have been in your situation prove an immense help to you before and after you begin the process of construction.
Know the law
Building a duplex, or granny flat, requires knowing a bit about real estate law. You cannot build any structure without the proper permits and you should never build any structure for investment purposes without first checking with an accountant regarding the tax you are required to pay upon sale of the duplex or on the money you earn as rent from the duplex.
Meet all council building requirements
In addition, your duplex must meet all structural, height, floor space and other relevant and required restrictions before it can be built. This requires making a blueprint of the structure and including all relevant details of the building. You can, however, add on to an existing structure to turn it into a duplex or build an entirely new structure on empty land.
What will you use the duplex for?
Before you begin construction on your duplex, there are a number of other factors you need to keep in mind. The first is what you plan on using the duplex for. Many people commonly take advantage of these granny flats as a way to care for elderly family members.
The addition of a granny flat, or duplex, gives you the space and privacy you desire as well as the proximity required to take care of your elderly parent or grandparent. Others use their granny flats as an apartment for recent graduates looking to move away from home for a little more privacy; since many graduates cannot afford a place of their own until school is over and jobs are secured, parents are letting their kids stay in their duplex while they go to school. The situation is a win-win for both parents and their adult children.
Your other option is to rent out the duplex to someone outside of your family. This method of investment generates income for you by renting the granny flat to someone with a contract requiring them to pay a set amount of rent each month.
Why choose a duplex?
Duplexes add value to your home when you decide to sell. The addition of a separate living quarter is something buyers look at as an upgrade, which also allows them to use the structure for investment purposes much the same way you do before choosing to sell your home.
These dual-occupancy homes are perfect for investment reasons, in-laws, visitors, elderly relatives or your kids when they are old enough to move out of your main residence.
Tips and considerations
Now that you have made the decision to build a granny flat, or duplex, on your property you need to adhere to a few tips and tricks. The first one is that you always include the necessary accommodations to the duplex. You will get more money and more potential renters based on the amenities in the duplex.
Additionally, the structure cannot be considered a duplex if it does not have a bathroom, kitchen and living ตึกแถวมือสอง กรุงเทพ area. You can make the structure a "studio" type building, which has a bathroom and kitchen and the rest of the living area is used as a living room, dining room and bedroom. However, the large your duplex, the more potential renters you will have. At least one bedroom will net you far more in monthly rent than a studio type duplex.
Another consideration is access to your house. If you are attaching the duplex to your house and using it as a rental or investment property, you don't want your renters having access to your home, which means you need to ensure the duplex has an exterior door of its own and no access to your home.
Design
Consider using building materials that are sturdy and visually appealing. Pain the duplex a neutral colour that most people will find attractive. If you plan on allowing children or pets to live with their families you might consider a hard floor such as wood or tile and avoiding light color carpets that are easily dirtied and stained.
Speak to the right professionals
Always get advice from the right people before building a duplex! Talk to your accountant, conveyancer, solicitor and mortgage broker. They will help you make informed decisions.
Determining How Much You Can Afford
If you're thinking it's time to take that leap forward and buy a home, the first thing you're going to need to know is what you can afford. You don't want to waste your time (or your agent's, if you're using one) looking at (and getting attached to) homes that are out อาคารพาณิชย์ กรุงเทพ of your price range. Rather, have a good idea of what you can afford and set a limit to your big purchase.
To know how much you can afford, you will need to figure out your debt-to-income ratio. This figure is a percentage that's based on how much personal debt you're carrying in relation to your income. Lenders will use this in determining how much mortgage debt you'll be able to handle.
Although in some areas, the debt-to-ratio percentage differs, the general debt-to-income ratio is 36%. Another good guideline to remember is to keep the gross monthly income going towards your housing expense at not more than 28%.
So, using this guideline, how can you find out how much of a monthly house payment you can afford?
First of all, figure out the total monthly debt you can handle by multiplying your monthly gross income, before taxes and any other expenses, by 36% (or 0.36). Next, add up all of your family's FIXED monthly debt expenses. These are your expenses that are regular and don't change. They would include your automobile payments, minimum credit card payments, student loans, child support, etc. These would not include varying expenses like groceries - simply your fixed expenses. Once you have this amount, you would subtract it from your total monthly debt that you figured out in the first step. The number this leaves you with would be your maximum mortgage payment allowance. It is the most you can afford.
You'll need to remember that the number you come up with will have to include not only your mortgage payment, but also insurance and property taxes. There are calculators you can use online to help you figure out what you can afford based on that amount.
Of course, this will tell you what you can afford at maximum. This doesn't necessarily mean that that is how much you should spend. Consider your circumstances, other debts and money spending habits, and realistically how much you'd feel COMFORTABLE spending each month. Create a budget so that you know where your money is going, how you can alter it if you choose, and how much you could truly afford on your new home.
Now that you know your price range... Good Luck and Happy House Hunting!
Choosing to Build a Modular Home
I bought 5 wooded and hilly acres of land three years ago with the intention of having a house built on it. I was clearing the trees by hand for the driveway, building site and septic system drain field. This gave me a year to investigate the costs, types of construction, contractors and other things that I would need before getting to the construction stage of the project. This article is a summary of the things I learned during that year that led me to the decision to build a modular home.
I was unsure whether I was going to have a house built on site or have a modular home set in pieces on the foundation.
The first two obstacles to a modular home were: modular homes may not be allowed in my city and was it possible to get a modular home to this building site. If not, the decision was made for me. After checking with the local building inspectors, I found out that modular homes are allowed in this area. Next I contacted three different modular home builders in my area and had them visit my building site to find out if a modular home could be delivered to this site and if so, what was the largest size that could be delivered. From them, I learned that it was possible to deliver a home to this site and the maximum size that could be delivered.
Now I had to decide the method of construction. Initially, I had concerns about modular homes when it came to financing, quality and looks. First I checked with lenders in my area and found that I would be able to finance a modular home in the same fashion as a site built home. Next I needed to learn more about the quality and look of modular homes. I guess I had heard all the stories about them being glorified trailers. After looking at homes built by about 10 different modular home builders, I found that my concerns were warranted with a couple of builders, but not most.
In the end, I chose to go with a modular home. Here are the reasons why:
1. Quality and cost - most modular home builders offer a quality home with built in efficiencies. The home meets local building codes; has 2" x 6" exterior walls; uses sheets of flooring material larger than is possible on a site built home (meaning fewer seams); has numerous quality checks throughout the building process; walls are glued, screwed and strapped; interior walls are made with 5/8" sheetrock; a variety of options for the exterior of the home; and the home is very well insulated. After two years in the home, my utility bills are about the same as my condo which was 30% smaller and surrounded by other units on two sides.
2. Customization - I learned that you can customize your modular home just as with a site built home. You can either choose an available floor plan or customize them for the cost of the engineering fees. I went with the mirror image of an available floor plan.
3. Fewer contractors to manage. Since I was acting as the general contractor, I was concerned with the time to get bids, check out the work of contractors as well as schedule all the necessary work. By choosing to build a modular home, I would only need an excavation company to build our driveway and dig the hole for our basement, a surveyor to layout the site for the foundation, someone to pour the foundation and do the flatwork, a plumber and an electrician.
4. Speed of construction. My modular home was going to be built so fast (2 weeks) that I had to have all of my contractors chosen and scheduled when I placed the order for the home.
5. Cost - Due to คอนโดมือสอง กรุงเทพ the efficiencies of building modular homes there is a cost savings involved. It is hard to give a percentage savings. This would vary depending on the costs which are the same no matter how the house is built. There are many costs that are the same with either a modular or site built home - land, foundation, utilities to home, driveway, sewage hookup or septic system. With this said, there was definitely a cost savings for me to go with a modular home. I needed this savings, because my building site required extensive excavation costs to cross two creeks and modify the grade of a hill with 75 dump truck loads of rock.
After living in the home for two years, I feel I made the right decision. My wife and I are enjoying our house tucked back in the woods and have had only one issue with the home. Shortly after moving into the home there was a plumbing leak. We had a local plumber fix the problem and our builder quickly reimbursed us for the repair.
