Reasons Some Rent, Instead Of Own

Although it is generally, considered, to be the American Dream, owning a home, of their own, is not, for everyone! Although studies indicate, in the longer – run, it is more cost – effective, to be an owner, than renter, there are certain individuals, who, it is often, not for. With that in mind, this article will attempt to briefly, consider, identify, and discuss, some of the items, which might make someone, a less, than stellar, candidate, for home ownership.

1. Down – payment: There might be several reasons, certain individuals, lack the necessary down – payment, needed, to put down, in order to purchase a house. Some lack the necessary discipline, while others might not have the financial necessities, or have experienced major obstacles (economic/ financial, etc), which have made it challenging, to put together the funds. Others are afraid, to proceed, because they lack the self – confidence, etc, which makes them, ready, willing, and able, to handle the stress, etc.

2. Reserves: In addition to having the needed, up – front, funds, there are many other financial obligations. and preparations, needed and necessary! Wise individuals put together, at least 6 to 9 months, equivalence, in case of any interruption in earnings, etc. In addition, there should be separate reserves, for initial changes, or modifications, most new homeowners, perform. Then, money should be put aside, for regular repairs, upgrades, modifications, renovations, and unforeseen issues.

3. How much do you want it?: Are you prepared for home ownership? When you rent, your landlord is responsible for necessary repairs and maintenance, but when you own, you not only have to pay for it, but be responsible for either, performing the task (if you are capable) yourself, or bringing in a professional, to take care of it. This includes: electricians; plumbers; painters; concrete workers/ masons, etc.

4. Confidence: Do you have the necessary degree of self – confidence, to trust yourself, and your abilities, to handle the stresses and tensions, involved, in owning, a home, of your own? If the stresses and tensions, are things, you don’t want to get involved in, and/ or, handle, then, owning a house, may not be, for you.

While I personally, enjoy owning my own home, it is not for everyone. One should seek, to better, know, what makes him happiest, most satisfied, and serves his personal self – interest, etc.

Drive for Show, Putt for Dough

Last week I shot a 97. That was my best round yet. I started golfing about 3 years ago, and I am enjoying the challenge. I first took lessons to learn how to hold the club and make contact with the ball, which was surprisingly difficult. I remember that accidentally breaking a club in half was the highlight of my first lesson. Yes, I was swinging hard. I was trying to show off and hit the ball farther than a friend. That was embarrassing. Travis took me to one of his favorite courses for my first 18-hole round. Once again, I thought I had to hit the ball far, so I swung hard. The ball sailed… right into a house.

It was not too long before I started consistently hitting the ball, so I recently took lessons to see if I could hit straight. I had hopes to score under 100 this year, so it was satisfying to reach that goal last week. The instructor in my recent lesson told me over and over to control my club speed and practice my short game. Keeping the ball in play by focusing on hitting it straight, instead of far, and getting better at putting, would shave several strokes off my game. “It won’t look as good as the big drive,” he explained, “but it will win you the round.” This is why they say, “drive for show and putt for dough.” A far drive looks great, but your money is made with consistency in the short game.

The same idea is true in baseball. The most valuable baseball players have high batting averages and get on base regularly. They are not swinging for a home-run every time they go to the plate. Home-runs are exciting and rewarding and fans love them, but at what expense? Big home run hitters also have high strike out rates. Focusing on just making contact with the ball to get on base helps to avoid an out, while moving runners around the diamond. This is how the best teams win games. Singles win games.

This is also true in real estate. I have one client in mind that is always swinging for a home-run. He is a great guy! He has a big heart and is a lot of fun to be around. He is also a fantastic builder and rehabber. The problem I have seen though is that he is passing on singles, so he can swing for the big one. He wants to make six figures on everyone flip, or more by doing new construction projects. He keeps waiting for the perfect deal, or he gets into trouble doing deals that are too big for him. Either way, he is not helping his cause. There seems to be a simple fix looking at it from the outside, but he has the mindset that he needs to hit it big. A short drive down the fairway or a simple base hit is not exciting enough for this experienced real estate investor.

I have another client that is only looking for base hits or the easy chip out of the trees. He is doing deals for profits in the $15,000 to $20,000 range in Denver. Some would say that is too thin, but he is doing three or four a month!! And he recently got lucky and is going to make over $100,000 on a single flip in Denver. He understands that luck behind it and is happy, but he is not setting his mind on those big pay days.

The annual income difference between these two highly capable investors is over a half a million dollars.

Even the best investors that I know work towards a simple shot off the tee. They want the easy and safe base hit over and over. Some of them have increased what they consider a base hit, but they all started small. It is a process to work up to, but no successful investor that I know is always trying to hit the home-run or the long drive over an obstacle. They take those when they present themselves but are on the hunt for the straight shot down the middle; which is why I would suggest keeping your real estate business simple and grow with it over time. Don’t do a bad deal but don’t pass on a good one. Our office is more than happy to have a conversation with you about your real estate plan or a specific deal to help guide you to success. Consistency is key. Whenever I swing my club hard looking for the big drive, I come up short. The easy swing without the pressure produces great drives. Remember… four singles without losing your ass is better than swinging big and missing.

Consider Resale Value Before You Renovate

When doing renovations, people rarely think about long-term resale value. Most families just want a really nice place to live and they work to create their forever home. However, life can be unpredictable. So while it is joyful to make a dream home, those dreams need to be balanced with an understanding of whether or not those granite countertops or that second story are good investments in the long run.

What is resale value?

We hear the idea of resale value quite often pertaining to real estate. The ideal is to buy a property that is a good investment and to have its value appreciate. Good maintenance and appropriate renovations help ensure that when it comes time to sell again, the property has gained equity and you’ll make money.

However, the amount of money you’ll make depends on market appreciation. Which is why it’s important to make improvements that fit the property and the neighborhood.

Location the key factor to consider

If you’ve bought a property by a highway or another not-so-great location, you probably got it for a good price. If that location’s value doesn’t increase during the time you own it, you’ll probably have to sell it for a similarly good price, even if you’ve done a lot of work on it.

Many property owners invest in renovations that aren’t in keeping with the neighbourhood. As a result, they end up selling for less than they invested, which can be heartbreaking.

Before you renovate, look at what has been selling around you – at what cost for what quality? If the most expensive home in your neighborhood sold for $400,000 after being completely renovated, it doesn’t make sense to style your house to a value any higher.

And really, how special are those $10-per-square-foot tiles anyway? Go with the $5 tiles instead.

Focus your investment to one or two elements per room. Make pricey items such as granite countertops, a fancy backsplash, or a higher end faucet; work like show pieces, similar to a piece of art.

Smallest may be best when it comes to resale
As for adding a second story to create more space for an expanding family, it may be worth it in the long run to hunt for a bigger home.

If you invest an extra $100,000 on a two-bedroom bungalow in a neighborhood full of two-bedroom bungalows, you may never recover that full investment. It may be a much better idea to take your equity and find a larger home in a neighborhood where your investment will hold and even grow in time.

When it comes to resale value, it’s always better to have the smallest house in an area with mansions rather than a $600K house surrounded by $300K houses.

Of course, creating a joyful home should always be the first priority. Just make wise decisions that will bring you prosperity and happiness for years to come.

Evolution of Green Real Estate Properties

The ideologies of the buyers in the real estate industry have been drastically changed over the years. All they need is eco-friendly or environmental properties with required facilities. Some of the environment friendly features are:

Use of renewable energy sources
The current trend in the market is demand for eco-friendly properties. Use of solar energy in water heating appliances, air conditioners and inverters can attract many buyers. This kind of energy sources can reduce their E-bills.

Rainwater collectors
Rainwater harvesting is effective way of storing rainwater for domestic usage. By using this method in our home, a large scale of water scarcity can be reduced.

Use of wooden furniture’s
Consumers are considering organic materials like wood and bamboo to be used in interior furniture. Plywood made from wood chips and window treatment, which include bamboo shades are some of the organic designs evolving in the green properties. Wooden furniture can add warmth, richness, comfort and finesse to the household area.

Natural landscaping
It is one of the important factors for the green real estate property. Properties, which have native plants and trees growing in and around the surroundings, have much demand among the consumers. A property, which has artificial grass lawns, requires lot of water to be supplied whereas native plants and trees require only seasonal rainfall to grow. Plenty of water can be saved by having natural growing trees and plants.

Eco-friendly interior insulations
Interior insulation in home is necessary as it affects the room temperature. Use of eco-friendly insulations with wooden chips, cotton, small broken pieces of stones and rocks, newspapers, cellulose insulation can reduce the noise and green house gas emission. Natural insulations have a low embodied energy and are fully disposable/recyclable at the end of their life.

Due to the increased demand in green real estate, many firms have started to promote their properties as eco-friendly homes. Buyers are showing more interest in having energy efficient products and systems in properties. Many financial institutions and private sector firms are investing huge money in green real estate predicting its demand in the future. According to government policies, investors who are investing in this sector pay fewer taxes compared to commercial sector investing. Green building construction has become increasingly popular and construction of such buildings has been a great challenge in long run. A green building is setting up new avenues in sector and increases the talent among the architects, environmentalists and suppliers.

The Benefits of Having an Energy Star Certified House

For two decades, the Environmental Protection Agency (EPA) is pushing energy-efficiency in homes. From this, the Energy Star in new homes was conceptualized. It aims to prevent pollution of the air while at the same time giving homes the much-needed adjustments towards energy efficiency.

For home buyers who are on the hunt for their dream homes, it is very important to look for Energy Star compliant homes. While the prices may be higher than homes established right before its implementation, buyers are guaranteed to save along the way from the prices slashed on energy costs.

And because going green is an in thing, those who invest in Energy Star homes are also assured of profits when they choose to sell them.

New construction homes are also required to follow new building codes. These requirements are also in line with the energy-efficiency methods prescribed by EPA.

How about appliances that you’ll be putting in your new homes?

You don’t have to worry too. Appliances manufacturers are also following Energy Star prescriptions. Thus, when shopping for TV, refrigerator, aircon, or any other home appliance you want to add in your new home, just look for the Energy Star sign. With this, you are assured that they are more energy-efficient than same appliances without such compliance tags.

Any other benefits, aside from less operating costs on monthly basis?

New construction homes that comply with Energy Star have added benefits. Given that the design is geared to cut energy costs, you can be assured that during warm months, the windows can give entry to natural and cool air. During cold months, the added insulation can provide heat and in fact trap the warm air circulating inside the house.

Another benefit that comes with Energy Star homes is the improved air quality inside the house. The ducts are made sure to be tightly sealed. They prevent air pollutants and even pests from finding their ways into the house. An improved indoor air quality is beneficial to the health – especially to those who have respiratory conditions.

If you are indeed a first time home buyer and you need the help of mortgage lenders, choosing Energy Star homes is quite a good choice. Many lenders are favoring these homes and within your locality, you might just be able to score one with lower origination fees.

The Irresistible Flats in Zirakpur for You to Buy

Amidst the three basic necessities of our life, home is one of them. It is the hearty desire of every individual and family to own at least a house in the preferred location. If you have not yet owned any home, there is no need to worry at all. Now every single family will have the golden opportunity to become the owner of a flat in the fully developed capital city of the state Haryana.

The many of the reputed builders have come together and made the people realize the limitless benefits of flats to buy. There are some companies engaged in the construction of residential and commercial projects at the different locations for the people to make the purchases. The residential projects include 1 BHK, 2 BHK, 3 BHK, and 4 BHK with fully furnished home and ultra-modular kitchen. The marbles, tiles, stonework, furniture works and other attractions are captivating enough to win your sweet little heart.

The Unlimited Benefits of Buying Flats in Zirakpur

Some of the Flats in Zirakpur and at other places are so well designed by the renowned architect that a single look is enough to captivate your mind. It gives you the feeling of staying in a five star environment at home. So why to wait now? Rush to visit the actual site and take a close look at the ready to live flats available for the possession for you in your own dream city near Chandigarh. You are sure to gain many other features in addition to the unavoidable deals on your bookings.

One should not miss the chance to win the attractive property deals. There are many advantages of owning your own house. It is indeed a matter of proud to become the owner of a Flats in Zirakpur, Chandigarh- the beautiful city in the country.
There are many good reasons that will encourage you make your stay in the city. Some of the major attractions include

(i) 2 states: it is a union territory administered by the Central Government. It is the capital of two states i.e. Haryana and Punjab.

(ii) Well Planned city: It is the first planned city in the nation. The town planning is done in a systematic manner in order to avoid the unwanted problems occurring due to natural calamities and manual activities.

(iii) Tricity: The neighboring cities of Chandigarh, Panchkula, and Mohali together form the ‘Tricity’.

It has been observed that growth and development is the ongoing process in the city as a result of it the rate of the property is constantly increasing. It is indeed a very good decision to make the investment in the booking real estate market in the city.

If you are looking for Flats in Zirakpur at unmatched rate and additional free facilities, get in touch with the 100% dependable property deal service provider Green Lotus Avenue in the capital city.

Overturned Mortgage Rulings Creates Chaos at the Supreme Court and Bank Stock Falls

This week has seen unprecedented Supreme Court action that has unleashed all kinds of mayhem on an internal level, not to mention the consequences this has had on the financial sector. Over the past few years we have seen thousands of court cases revolving around the financial sector and their methods when it comes to granting mortgages. The primary issue was in relation to the infamous Floor Clause inserted in mortgage agreements (in many cases without advising the mortgage holder!) but a Supreme Court ruling in favour of mortgage holders obligated banks to reimburse any benefits obtained which could be a few thousand euros per case. The secondary issue and the one this article refers to has to do with reclaiming the Stamp Duty paid on the Mortgage Deed.

In February of this year, the Supreme Court by means of its Civil Court issued a ruling that stated the mortgage holder is responsible for payment of the corresponding Stamp Duty, however, this same ruling was OVERTURNED by its own Court for Contentious-Administrative Proceedings in an unprecedented action last Tuesday 16th October 2018 and recorded under Ruling Number 1505/2018. This ruling corrects the existing ruling that was passed only a few months ago and determines that in fact the BANK and not the client/mortgage holder is responsible for payment of any Stamp Duty due when a Mortgage Deed is granted before a Notary Public. How has this come about and what was the reasoning given for this surprising turn of events?

Mrs Lourdes Amasio Díaz, a barrister who represents the company known as “Empresa Municipal de la Vivienda de Rivas Vaciamadrid S.A.” initiated an appeal to reverse a ruling against her client as recorded under Recurso de Casación 5350/2017 and this is what was considered at the Court for Contentious-Administrative Proceedings. As stated previously, this appeal made Magistrate Jesús Cudero reconsider the Supreme Courts previous ruling and side with her client. The criteria used to arrive at this decision was the fact the only interested party in registering a mortgage loan at the Land Registry Office is the bank because it is the only way they can make claims against the mortgage holder in the event of non-repayment of the loan, therefore the bank should be liable for the resulting tax.

This about-turn can seem conflictive but as it turns out when the matter was apparently resolved in February 2018 at Civil Court, the same issue was already on the table at the Court for Contentious-Administrative Proceedings which now does not hold the same point of view.

The result of last Tuesday’s ruling is a massive dip in the stock market which has affected Spain’s major banks, primarily, Bankia, Bankinter, BBVA, CaixaBank and Banco de Sabadell. The one major factor that has not been detailed in the ruling is whether the Stamp Duty for mortgages signed over the past four years can be reclaimed or whether it only applies to new mortgages. Of course, the banks interpret the ruling to apply only to new mortgages, so this point must be clarified.

It would appear the Spanish banks’ reign of tyranny is over and they are being made accountable for their one-sided dealings with their own clients, however, this ruling has stirred up a hornet’s nest and it is far from over… Not even 24 hours after this latest ruling was passed, the Supreme Court has made yet another astonishing decision to review this sentence. Mr Luis María Díez-Picazo, President of the Court for Contentious-Administrative Proceedings has decided it would be prudent to delay this ruling until other considerations can be examined. By this he is referring to the effect this has had on the stock market and what it would mean if the banks have to reimburse what experts estimate between 6.000 and 24.000 million euros.

A Plenary Session of the Court must be held within the next few weeks in which 31 magistrates must decide whether the latest ruling that determines the banks are responsible for any Stamp Duty that arises from mortgage deeds will be accepted or not. What is going to happen in the meantime? Well, in theory, a legal ruling was passed so notaries will continue to advise that according to the ruling of the 16th October 2018 and applicable from Thursday 18th October 2018, it corresponds the banks to pay the tax. The shock attempt on Friday to reverse that sentence is a mere Memo but does not qualify as legislation until such a time the plenary session decides which ruling stands.

Some clients who were due to sign for mortgage loans at Notary that Tuesday postponed their appointments until the outcome of the court case was known but even though the ruling is now debatable, Stamp Duty in the Canary Islands for example is payable within 30 days of signing the deed (in other autonomous regions the deadline is 60 days) so I expect the banks will until the last moment before paying in case they can pass that expense back to the mortgage holder.

What we have here is a split decision within the Supreme Court itself with two very different rulings issued by two different chambers. My personal opinion? A matter of this magnitude should have been determined at a Plenary Session in the first place instead of allowing two chambers to pass a sentence on different cases which has allowed this gross conflict to occur. We’ll have to see what the outcome of the Session is and hopefully it will be in favour of the little guy to help put an end to what I call the Banks’ Reign of Tyranny.

Green Homes for Sale

If you were looking at real estate ads and saw one that stated “green homes for sale”, you may at first wonder why anyone would a listing stating the color of their home. This is not what this type of ad means. It is just stating that the homes for sale are earth friendly and energy efficient. Green homes for sale are being built in an effort to less the carbon footprints we leave behind.

When you purchase a green home they will contains all or some of the following features that are earth friendly.

• Fiber cement siding
• Alternative power system like wind and solar
• Recycled building insulation
• No VOC stains and paints, which stands for volatile organic compound. It is any compound that is carbon-based and will vaporize at standard room temperatures. Some of the more prevalent ones are formaldehyde, acetone, and methane.
• Solar powered hot water heating

Even if you do not live in a green home, there are things that you can do to increase your energy conservation. It will even help contribute to saving our environment. Making your home a green home can help to reduce global warning and save the homeowner money. It will significantly better the environment and require little effort for the homeowner.

Making a green home

• Instead of using the standard incandescent light bulbs start to use compact fluorescent light bulbs (CFLs). When you switch to the CFL’s you can save per year over a hundred dollars. You can find these lights in the same aisle as your regular bulbs but they are little more expensive. In the United States, if every house switches the type of light bulbs they were using to CFL’s there would be a reduction in greenhouse gas emissions of one trillion pounds.
• Install a thermostat that is programmable-with this type of thermostat the homeowner can program the thermostat so that the air conditioner or heater is off when homeowners are not at home. The programmable thermostat can be programmed so that it will cool or heat your home shortly before the homeowner arrives home. This change could save the homeowner ten percent or more on cooling and heating costs
• Plug air leaks-this will help the homeowner save money and practice conservation. You can do this by installing weather stripping, keep the temperature in your home from rapidly fluctuating, and caulk windows correctly to stop air drafts.
• Energy Star® rated appliances-these reduce the amount of electricity that is needed to operate them so they have less of an impact on the environment. They will also save on your energy bill.

Financial Considerations Of Home Ownership

While we often, refer to, home ownership, as a core component, of the American Dream, it’s important, for us, to take a realistic look, at the obligations, and necessities, involved, if this is, to truly be a dream, instead of a potential nightmare! Before embarking on this house – hunting, process, carefully, introspectively, objectively, examine and consider, your personal reasons, persona, what makes you happy/ satisfied, and whether, it’s a good course, for you. After, you’ve determined, what’s best, for you, and know, what you want, it’s essential to clearly consider, and examine, what you might be able to afford. This means, proceeding, in a responsible, well – planned, and considered manner, focused, on preparing for the many contingencies, of home ownership. With that in mind, this article will attempt to briefly consider, review, and discuss, a few steps, which should, both reduce unnecessary stress and hassle, and maximize the potential enjoyment!

1. Reasons for buying that house: Why do you want to buy, any specific house? Does it meet your present needs, and into the future? Or, are you looking, at a shorter – term, and want to live, there, for a shorter – span, and, then, relocate, when needed and necessary? Are you the type of person, who enjoys moving, or would you rather, remain in your present quarters? What are your needs, goals, and priorities, in terms of location, neighborhood, schools, costs, transportation, conveniences, etc? Why, this house?

2. Down – payment: Do you have the necessary funds, to have the down – payment, while avoiding, placing too much stress, on yourself, because of using these funds? Smart homeowners prepare, and make their journey, far less stressful!

3. Needed reserves: The best way, to proceed, is to put together, several reserve funds, in order to ease your way, forward! Once, you’ve purchased your house, most people face monthly fixed expenses, which includes mortgage payments (including principal, taxes, and escrow items, such as insurance, etc), utilities (electric, heat, telephone, television, internet, etc). Realize, owning a house, requires preparation, for affording the costs of regular repairs, including appliances, heating, water, etc. Create a reserve fund, for this specific area. Also, realize, houses require attention, and certain items, have useful lives, and will need replacing, such as roofs (rated from 20 – 40 years), appliances (including washer, dryer, refrigerator, oven/ stove, dishwasher, etc), painting or power – washing, etc. At some point, many realize, their house needs certain upgrades, renovations, etc. The better prepared, the easier this process!

Transaction of Property Through a Real Estate Company

When it comes to transaction of property, even the wisest, boldest, smartest and the ‘know it all’ becomes nervous. After all you wish to make either a great investment or a profitable sale. Property matters are always stressing. Yes, they do cost your peace of mind. The process of selling and buying of property is complex as well as tiring. There are subtle fears and doubts’ regarding everything till the deal is not done. When selling a property your ultimate goal is to complete the sale at a profitable price and hand over your property in the right hands. When buying a property you aim to get a property which satisfies your needs at an affordable and right price. But how to do that?

The long and tiring process

Lets us first talk about how to sell your property yourself. The first obvious step is to know the market value of your property and then set a price which is convenient to you. The next move is to get a buyer. But, how? Put hoardings, pamphlets and banners to advertise your property and tell people it is for sale. Inform your acquaintances that you wish to sell your property as they might get you buyers in their contact. Buyers will approach you when they get to know that your property is for sale. They will check your property and if they are impressed by your offer they will buy your land/ house. Then comes the paperwork which concludes the deal. When buying a home, you need to collect info about properties for sale either from advertisement on different platforms or from friends and family. Visit the property and check it in the next step. Then comes the negotiation for price with the seller and the purchase concludes with paperwork.

Why you need an agent?

Well! All this might sound easy, but it is not buyers have to wait for the type of property they want for long. Sellers too have to wait as long as 6 months on average to find the right customer. Even the legal work required in papers makes it mandatory for you to visit Law attorneys dealing with property matters, making the process all the more cumbersome. It is exactly here real estate companies and agents come to your aid.

Perks of contacting a Real Estate Company

Many a times you need to buy/ sell homes in a hurry. Like if you have got transferred to a new place you would like to sell your previous home quickly and buy a new one as soon as possible. As already mentioned the process of transaction of property is complex and time taking. But this tiring burden can be reduced to a great extent when you contact and associate with a real estate company or agent. They have all information about which house is for sale at what price and who are people looking for a house in what location and at what price. So you see the first work of finding and waiting for customers when you wish to sell your property is eliminated. When looking to purchase a house you don’t need to hunt anymore. Your property agent will let you know. Not only they end the hunt, but also assist you with legal paperwork relating to the deal.