All posts by Consultant

Benefits Of Having Mobile Houses

Benefits of mobile houses
Pros of mobile houses

Mobile houses are usually seen as a bad investment from financial view point as they depreciate very easily. However this is not fully true. Those mobile houses which are placed in park generally go down in value but this is not the case with mobile houses on private land. Mobile houses on private land will have higher value and it will keep on increasing if the land is in good area and is in demand. In fact in some of the areas, there is high demand of mobile houses specifically for those which are placed around lakes. Mobile houses are great for people searching for vacation residence or retired people Hence these are also sometimes referred as retirement homes or vacation homes. Metropolitan cities becoming so full with more job opportunities, some good [place for residence is lacking and this has increased the need and value of mobile houses in outskirts and highways. If you see for double wide mobile houses, their prices either remain constant or even appreciate in some instances. These mobile houses are very much common in retirement areas where there is continuous increase in price.

Mobile houses are basically very cheap to buy and it can be bought very upfront. If you go for buying 1100 square feet of single wide mobile house, it will avail you with the space of a small two bedroom home or even more than that. If you go for a double wide mobile house then it will avail you with the space of 1700 square feet making it a big house for a commoner.

If you are opting for mobile houses, then you also have many ways for handling your mortgage. The most low cost option available with you is to transfer your new home to the mobile home park. Here you will have to pay rent but it will still be low cost alternative. Another option is to buy cheap property where the rules allow you to have mobile houses. By opting for this option, you can keep the mortgage amount to be small and also build up the equity very fast and also pay off the loan more easily and quickly. Another option is to utilize your saving and buy a mobile house along with an expensive land. This can be one of the alternatives for less expensive house with fantastic investment strategy. If you are residing in an area where you are aware of the fact that the value of the property is expected to be increasing then you can go for buying land at such space and park your mobile home there. Insurance and property tax will also be low as compared to that with onsite homes.

Maintenance of mobile home is also very less as compared to that with traditional homes. Fixing roof of traditional home is quite expensive than a mobile homes roof. Even installing a new roof of mobile home is very much less expensive as compared with traditional homes.

Things To Know About Home Inspection

Things to know about Home inspection
Things to consider about Home inspection

Home inspection is the part of home buying process. It is very essential for the new home buyers. Undergoing home inspection will give you more knowledge about your home. This will make you more informed about your home and you will be able to advocate in a better manner with your agent. Here are some of the facts which you must be aware about home inspection.

  • These are optional

Those who are not very much familiar with the field of real estate would think that home inspection is a compulsory step which is totally wrong. The fact that home in section is compulsory have emerged in the mind of people because of TV and reality shows but it is not so. It is not the case every time that there would be some issue in general in the home and you will have to undergo home inspection. You can take your own call whether the home is in such condition that it should have inspection or you think it is fine and can be bought without it. It totally depends upon the buyer as to which part of the house he wants to get inspected if he wants any. Home inspection is great; there is nothing bad about it as it will give you fair idea about the condition of the home and any existing flaws in it. It will also enable you to negotiate with the seller if there is any future repair cost or replacement cost. In general it will give your idea whether you are fine with handling this property or not. However beneficial it is, home inspection is not compulsory and you can decide what to do.

  • Buyers are liable for inspection

Many of the times, the new buyers don’t realize that they are the one are responsible for home inspection. Buyers are the one who have live in the home and if there is any issue they are the one who have to suffer. Hence buyers must take the charge and call a home inspector. You must not keep this task for last minute. Leave yourself with sufficient time after you bring the contractor and he shows the result. You cannot take instant decision after undergoing home inspection. You need some time to sit and think the condition and then take the final decision, Thus, conduct your home inspection after consider this time.

  • Hire a certified inspector

Home inspection is important but the home inspector you choose is also very important. He is one on whose decision you are going to rely. If you are thinking that contractor and home inspector are same then you are totally wrong. Contractor is one who is hired for repairing the existing issues while inspector is trained for finding out the home related issues. However the inspector you choose for your home inspection should be reliable and trustworthy and should be certified. Every area has some local rules and limitation and your inspector should be one complying with them adequately.

Advantages And Disadvantages Of Offshore Banking

Offshore bankingHaving an offshore bank account is very much beneficial. If you are an expat then probably there are more advantages of having an offshore account as compared to disadvantages but still cons still exist. How you choose to manage your personal finance is always your choice but still offshore banking helps you to manage your personal finance and investments and it also lets to make savings in more efficient manner. Advantages and disadvantages of offshore banking also depends upon the place where you choose to open your account as some of them avails with more services as compared to others. Thus it is advisable to make proper research as to what are the advantages and what are the drawbacks of opening an doing offshore banking. Here is a detailed explanation of advantages and disadvantages of offshore banking compare it to your personal needs and circumstances and find out the best way to move forward or not according to your individual situation.

Advantages

  • In case of offshore banking, you can do banking in different currencies; you can even do banking in multi currencies. This is really a great advantage as if you have payment in US dollars and you want it to be converted in different currency, you can put in the account of dollars and wait for the right time when the exchange rate is in your favor and convert it at that time. This can really be a great benefit for you.
  • If the nation in which you reside is not stable economically and politically then keeping your savings in offshore account can really be safer option for you as your money is not affected by inflation or war circumstances or currency devaluation.
  • If you are an expat and if your country has a rule in which you have to pay tax on only that amount which you remit in that country then keeping your money in offshore account can really avail you with a lot of tax benefit.
  • Offshore banking is really beneficial as they avail the maximum flexibility and you can access your account t at any corner of the world.
  • Offshore banking also offers you with more amounts of privacy and security as compared to that of local banking.
  • There are many offshore banking which charges less then local banks and also avails you with higher rate of interest as compared to that of local banks.

Disadvantages

  • As compared to that of local banking, offshore banking is historically more risky.
  • Offshore banking is taken more as illegal and illegitimate source of money done more for tax evasion and money laundering activity and hence even if you are having legal money you can be anytime caught in the eyes of law as doing something illegal with offshore banking.
  • You must have proper knowledge about the terms and conditions of offshore banking account as to whether there is a higher fee to be charged if minimum balance is not maintained in the account.

 

3 Tips For Investing In Real Estate

Real estate investmentIf you are a new beginner for investing in the field of real estate, then you will have to learn about investing in real estate. Investing in real estate is more complicated as compared to investing in stocks as legal, financial and due diligence formalities are involved. Thus it is very important to have a basic education before you start investing in real estate. Real estate is a big market and there are many things involved while investing in real estate and if you don’t want to make loss then you must consider some of the basic tips for investing in real estate.

  • Location Matters

When it comes to investing in real estate, location does matters a lot. Before you pay a big amount of down payment and get yourself into big amount of debt for the real estate you have purchased, make sure it is in a desirable location. If you are having the best house in the worst street then you will not get a good price when you resale it but on a contrary if you are having the worst house in the good street then you will a having a good resale value at the time of selling it. While investing in real estate, you will be able to secure a good price of your property in a very short period of time, if the location you picked is nice as it will be having a goodwill, nice neighborhood and good development. These factors will help you give a good rise to your real estate value.

  • Hunt for wholesale properties

Investing in real estate is very similar to investing in stock market. In stock market investment, you will buy those stocks which are having good value and good price and sell them and earn profit but sometimes when other are fearful you become and risky and  buy such stocks whose price is down and hold on to them sell them when the price bounces up. When it comes to investing in real estate, try and avoid paying full price of property. Instead you must try and hunt for wholesale properties. You will get these properties with nice discount but of course they will need some work and improvement. Make the calculation and see whether the wholesale price along with the price of making improvement is less than buying a full-fledged house, if yes then go for it and make profit out of it.

  • Check out your credit report

You will definitely need money if you are investing in real estate. Thus it is very important to check your credit report before you start investing in real estate. If you are having any issues in your credit report then you must resolve it as soon as possible or else you will not be able to procure finance from the market for investing in real estate and you cannot buy any property without borrowing money from the market. Thus make your credit report spectacular and procure loan easily.

 

Top Cities To Invest In 2015

Real estate Real estate market is on a good track in this year with stable conditions. But still it is not easy to pick up places for investment in real estate or to flip your house.  It’s suitable for investing in real estate not just for the sake of profit but also for maintaining it for a long time.

If you are a first timer to buy your own home or you already have it and want o invest in real estate, you are having lots of places to invest into. You need to be aware regarding which points to keep in mind while purchasing real estate. The important thing to be kept in mind while selecting place of investment is that the place should be on the verge of development. The city should be such having strong job growth. As the job growth is high, more people will shift at that place resulting into need of place to stay and increasing the price of that place due to increase in demand. You are benefited in both the cases, if purchasing for your own you will get a job oriented area and for investment you will get lots of tenants. Here we provide you with the list of best places of 2015 to invest your money into.

Barcelona SpainBarcelona, Spain

Barcelona, beautiful place which attracts the people like magnet. This is the reason why Barcelona is proving to be a better place than still struggling Costal.

French RivieraFrench Riviera

French property market was in the melancholy but it has now geared up with the recent 25% cut in the capital gains tax. With such a beautiful change the market will continue to flourish.

GrenadaGrenada

It’s only a small segment in the Caribbean market. Yet investing here can be beneficial. You will be wondering how.  The government is about to introduce citizenship by investment scheme which will throb a new wave of wealthy buyers.

Tuscany, ItalyTuscany Italy

The Italian real estate market has been crumbling in the past years but the upmarket buy to let market always remains jaunty. Some favorable tweaks to the Italian tax system would charge up the market.

TurkeyTurkey

The number of overseas purchase in turkey rose by 78% in the first half of 2013 yes you heard it right its 78%. A great bloom to the real estate market of turkey. Now a plenty of buyers view turkey as a safe place to invest.

PanamaPanama

This city must not be as famous as other Latin American city but it definitely has some astounding features for good real estate market. It has stable government and high GDP rate. The entrepreneurial environment is flourishing and the tax free zone of colon is one of attractive feature.

Liguria ItalyLiguria, Italy

The most optimistic sign is that the British buyers are looking to let out their second homes in Italy which proves to be beneficial for property investment and it’s pricing.

MontenegroMontenegro

Tourist fascination in Montenegro is on a high scale thus the real estate value is also on a high scale. It attracts the investors to invest here as tourist places yields a good earning opportunity.

DubaiDubai

30% is the ratio by which property price rise in Dubai in 2013 and since then the real estate market is on a fast track in Dubai. You may like Dubai or not people view it as a good destination for investment in Dubai.

 

Manhattan Newyork

Manhattan Newyork

Real estate prices can bring tears in your eyes in Manhattan, it’s that high. But it also yields that high returns. The source of attraction in Manhattan is New World Trade Centre which grabs lots of people in it for employment and thus property prices are high. Growth and development in pipeline is also one such reason for its blooming.

 

Different Types Of Mortgages

Types of mortgageYou have a plenty of choices when it comes to mortgage and this can be really complicated and confusing. As you have to work out on which of the option suits you the best. You must have to analyze which one is the cheapest along with the interest rates and fees.  Here are some of the types of remarkable mortgage options for you to compare and pick the best one out.

  • Fixed rate mortgage

In case of fixed rate mortgage the rate of interest remains the same for the whole period of deal which may be from one to five years, even though it is possible to get the fixed rate for the ten years. By fixing this rate you get to have the exact idea as to how much your mortgage is going to cost you over the period of years and you can adjust your finance accordingly.

Advantages

The payment of the mortgage will remain the same despite of the change in the interest rates. This factor is great for the purpose of budgeting.

Disadvantages

You have got a fixed rate so when the interest rate goes down you cannot take any of the advantage from it.  Say for an example if you have a deal of six years mortgage then you are locked up for six years in the same interest rate even when you want to get out of it, you cannot or else you have to pay big amount of penalty. So think twice before opting for the long time so that you don’t have to regret later by paying a hefty penalty.

  • Tracker mortgage

In case of tracker mortgage the interest rate is connected with that to the interest rate of the England based rate.  As the rate of England changes, the rate of mortgage based on tracker also changes. Trackers are available with fixed rate mortgages it usually for a period between two years to five years. Any change before the term can cost you with penalty.

Advantages

The rate of tracker mortgage is comparatively lower than the fixed rate mortgage. You can have a track on amount even it is variable as it relates to the base rate.

Disadvantages

The level of security of tracker is not the same with fixed as the rate is variable. This means that your monthly payments can go up anytime and you should be prepared for this.

  • Discount mortgage

Another type of variable mortgage is discount mortgage. It’s like tracker mortgage but it is not linked up with the England rate. It is related with the standard variable rate. This standard variable rate is of the lenders.

Advantages

The rate of interest is lower than that of fixed mortgage rate. As a matter of fact the discount is variable the rate can either go up or go down.

Disadvantages

The level of transparency in case of discount mortgage is very low. That means the lender can change the rate at anytime he wants. Thus it can happen that the rate bounces up at a time when you are not expecting it to go up.

 

 

5 Tips to Increase Your Property Value

Home renovation While changing your property, you have an excitement. There are lots of things encircling your mind. There are various questions as to what to change? How to change? Where to start from? Which change will help you increase the value? Struggling to get the answers might lower your excitement, it starts converting into confusion. You always have a fear in mind what if you don’t get back the funds you are investing. Here are some of the tips that help you out of your confusion and add value to your property.

  • An income suite

No wonder, but the biggest and profitable change to enhance your property’s value is having an income suite that too in the property itself. It might be converting your basement into rental property or it can be adding a floor for renting. An additional income from the property itself increases the worth of property a lot. The main benefit of this is that it covers a part of all the burden of your mortgage payments. Having such a home is considered as cash flow positive and you can really have a supplement income which helps you accumulating your wealth.

  • Kitchen

Kitchen plays a very important role in the valuation of your property. If you are having a modern, fresh and adorable kitchen then it can really help you fetching an attractive value for your property. Modern styled cabinets, lighting fixtures under the cabinets and new appliances in the kitchen will really prove to have a great investment in uplifting the price of your property. If you want to save cost and don’t want to make any change with the construction then you can go for lkea cabinets instead of opting customary cabinets.

  • Fixtures

Your home can look tired and outdated majorly because of the old fixtures. If you want an immediate increase in the home value then try to replace the fixtures like old cabinets, faucets, old lightings, hardware and countertops. These are the small and tiny changes but effective also. It will help revitalizing your entire home. If you are having open concept styled home then pot lights are really in high demand.

  • Flooring

Flooring is really an important aspect of your property’s valuation. Its guaranteed that your property’s value will boost up with the immediate installation of hardwood floors. Refinishing old hardwood floors is also a good idea as it is easy and less costly and they are also in great demand. In case of bathroom, tile will always grab a good value and work exceptionally well.

  • Bathroom

Bathroom is also given a great importance while valuing your home. If you are adding a three piece bathroom to a single bathroom, it is really helpful in popping up the price of your home. You should never be compromising the space of your bathroom for the sake of your bedroom. Try to find out a dead space in the home and make up a bathroom there. As an added tip you can use for the shower section to make the bathroom look more spacious.