What qualities should a good investment property have?

If you are looking to buy a property as an investment there are several things that you need to take into account. It’s a very different proposition to buying a property you are going to live in. You have to think about all aspects of the property weighed up against the fact that you need to make a profit from the purchase, whether this be from a buy to sell or a buy to rent point of view.

property as an investment

We are going to take a look at some of the things you need to take into consideration if you are thinking of buying property as an investment. Remember that this is not about buying a property that you want to live in; it’s about the facts around what is going to secure you the best returns.

The age of the property

One of the things you need to think about is the age of the property you are thinking of investing in. Generally, you can expect to have higher maintenance costs if you buy an older property. Of course, you also need to consider that older properties are sometimes sturdier than new builds. The condition of the property and the quality of the build are often just as important as its age.

The condition of the property

We have just mentioned that the condition of an investment property is important and this is a vital consideration when you are thinking of making a purchase. You need to look at aspects such as plumbing and electrical work as well as the condition of the kitchen furnishings and the bathroom fixtures.

You may also want to consider whether the property has any additional features, such as air conditioning or exterior cladding such as that fitted by Peter Bracey. Features such as these can make a property attractive to potential buyers or rental clients.

The area in which the property is located

It’s not just the property itself that you need to think about when you are considering an investment. You also need to do some research about the area in which it is located. You need to find out about things such as the crime rate, schools and amenities.

It stands to reason that if there is a high crime rate in the area people may be reluctant to rent or buy there. People are also going to want good access to shops and social opportunities. If there is a lack of good schools in the area you may struggle to secure the interest of families.

All of these aspects are important when you are looking for a potential investment property. You need to make sure that you do all of the required research before you sign any contracts. Remember, that your aim is to secure a decent profit against the purchase price whether that is by getting a good resale price or by ensuring a good rental income.

Share Button

Not-So-Obvious Things You Need To Buy When You Purchase A New Property

When you purchase a new home, you will spend a lot of time looking for new items for the house. After all, you will want to put your stamp on it with lots of beautiful new belongings. However, a lot of people stick to buying the main things such as a new sofa and bed. But there are some other not-so-obvious things you need to buy when you purchase your new property (add these to your checklist).

new property
By Sardaka (talk) 08:29, 29 July 2014 (UTC) – Own work, CC BY 3.0, Link

A toolkit

So you have bought all your essential appliances for your new house, and they are being delivered shortly. But if they arrive, and you are short on tools, you won’t be able to make them up anytime soon! Therefore, when you purchase a new property, you need to buy a tool kit full of handy equipment such as a screwdriver and a hammer. That way, you can build all the new items for your home. And you will be able to fix anything that breaks during the move; something is bound to break while you are unpacking! You can find a list of tools you need for your home on this site.

tool-kit

Emergency supplies

If you encounter bad weather, you might end up having a power cut in your new home. And if you have nothing to keep you safe, you might run into danger in the property. Therefore, when you buy a new property, you need to make sure you get some emergency supplies. It might be that you buy some matches to help guide your way if you do encounter a power cut in your home. And you could look into purchasing a backup energy generator to help you if the power does go off. You can find some online such as diesel generator suppliers Able Sales who you can contact to purchase one for your new home.

A telephone book

You might run into a few issues in the first few months of owning your property, even if you did the necessary checks. There may be problems with plumbing or electricity in your home, or you may even run into pests! To ensure you get issues dealt with quickly, you should buy a telephone book and keep all the numbers of contractors in there. Therefore, if you do run into a problem with your home, you have all the numbers safe for you to contact ASAP.

woman on phone with coffee
image credit: jseliger2 – https://flic.kr/p/zBrgDo

A lawn mower

When people decide to move home, they start abandoning their lawn. After all, they have somewhere else they are looking forward to moving to! Therefore, it might not be in the best condition when you move in. So that you can tend to it straight away, you should buy a lawn mower. That way, you can cut the grass and make sure it’s in an excellent condition by the time people come over for a housewarming. Don’t forget to tend to the front of your home as well. You can easily find some excellent lawn mowers online.

lawn-mower

And remember to purchase plenty of cleaning supplies, so that you can scrub the house from top to bottom when you first move in!

Share Button

Awesome Tips For High-Rise Apartment Personalization

There’s a lot to love about living in a high-rise apartment. For the most part, they are safe and secure, and then there are the magnificent views you can expect from every window.

However, one of the biggest problems with most high-rises is that all the apartments appear to be cut from the same cloth. Unless you have the penthouse at the very top, this can lead to some severe limitations with what you can do to the place.

So, I thought I would come up with some ideas for you to stamp your personality onto your pad. Let’s take a closer look at what you need to do.

Sunrise on Key Brickell Drive
Image credit: Danny Fowler – https://flic.kr/p/qVfs97

Sound design

First of all, don’t forget that personal also means privacy – which can be an issue when you are surrounded by neighbors, top, bottom, and side. So, think about adding some essential improvements to the acoustics of your apartment. Cork boards on the walls and floors can work a treat – not just to dull the noise coming in, but also to muffle the sounds going out.

Safety

Next up, safety should be an enormous concern when you are living so high up. Your windows should be as safe as possible already, but keep your eye open for any chips or cracks. Get them fixed or replaced as soon as possible – you never know when things could get worse. Also, think about getting UV protection film on your windows. When you are so high up, the sun can beat down hard, and those UVs are quite happy to travel through glass.

Pick a feature view

Whereas homes can rely on things like fireplaces and mantelpieces for features,  you won’t have that pleasure. But you do have one thing they don’t – an impressive view – or maybe more. So, if you live in a block of high-rise, luxury rental apartments, pick your favorite view. Use it as a center point for your decor, and you will impress any guest that walks through your doors.

Enjoy the view
Image credit: Col Ford and Natasha de Vere – https://flic.kr/p/8V5VRj

Keep it simple

If you are using an excellent view as your backdrop, you won’t have to overdo the decor in your apartment. Keep shelving units as clear as possible, and only use the best accessories for display. You’ll need to be clever about storage solutions, too. It’s all about maximizing your space and keeping the living space as clear as possible.

Think about your character

What do you like doing in your apartment? If you are a sociable soul, then invest in a great dinner table for evening parties. However, if you love relaxing to your favorite movies, think about concentrating on a great TV and comfortable sofa. You will need to make a choice early on in proceedings, as you can’t expect to fit the contents of a whole home in an apartment. But, if you can work out what you want, it should be easy – and inexpensive – to deck out in a nice way.

I hope this simple guide to high rise apartment living gives you a few clues to what you can do to make your living space a lot more personal. Feel free to let everyone know if you have any more tips!

Share Button

3 Things to Consider When Building a New Home

Building a new home can be one of the biggest, most overwhelming experiences of your life, but with a little bit of help and some planning, you walk away with your dream home. Not a bad trade-off! So get organised, find some help where you need it, and start creating your dream home.

new home
image source – pixabay.com

What can you do alone, and where do you need help?

This is probably the most important question you can ask before you start planning anything. This will help you scope out the project in its entirety, and you can begin to outsource, delegate and step up where needed. You might be an expert painter, but that doesn’t mean you’re a great plumber, so think through the different stages and projects for what you can do. Don’t be afraid to give things a go if you feel they are manageable, but also don’t be so proud that you don’t ask for help when you need it. This is, after all, your dream home – no point messing it up because you didn’t want to chat with a professional. Companies like AdaptIt can help you with both big and little projects, and you will gain a lot of help by speaking with professionals in the industry.

How big is your family now, and how big will it be in 10 years?

Perhaps you’re in your early 20s, and have just moved in with your partner. A two-bedroom, one-bathroom apartment with a killer sound system might seem like the perfect home for you. But are if there’s any possibility that you’ll be having children in the next decade, maybe you should include the possibility of having a slightly larger house with a more family-orientated design. Perhaps you’re in your mid-40s, with three teenagers, two dogs, and bedrooms full of sports equipment and musical instruments. But in ten years, are your children, dogs and all of their belongings likely to still be there? If the answer is no, perhaps you don’t need to build that five-bedroom, three-bathroom two-story house. Really think long-term, and plan accordingly.

Will you always love that pop-culture specific design reference?

Interior design is a big part of building a new home – it is the icing on the cake, as it were. So while you spend a significant amount of time looking at the structure and practicality of the house, you should also spend some time thinking about the design. You might be tempted to go for strikingly bold colours and patterns, with kitsch artwork and artfully mis-matched furniture. But have a quick think about what you thought looked good three years ago, and then think if you’ll like these bold decisions in another three years’ time. Tastes change pretty rapidly, so try to opt for timeless looks, rather than bold statements. Or if you don’t, maybe don’t make it exceptionally permanent so it’s easy to redecorate.

There are a few key points to consider when building your new home. What was the biggest consideration you had to make?

Share Button

House Hunting Made Easier with Technology

With a population of over a hundred million people, finding the ideal residence in the Philippines can be a challenge. You know that the perfect area for you and your family exists, but there are simply too many neighborhoods to choose from. The first question, naturally, is whether your ideal home is within the Metro Manila region – the seventh-largest metropolitan area in Asia – or elsewhere in the Philippines.

 

 

Understandably, safety is the most important concern for any family deciding to move away. Even if it is inevitably cheaper to live in an area with less- than- reputable stock, safety must be of paramount importance, as it is always vital to prioritize your family’s security and well-being more than anything else. Always make an effort to understand exactly where you are buying a home and to consider the reputation of not just the city, but the neighborhood and the street as well.

 

As part of a family, you must also think about the education of your children in addition to their security. Look into the schools and colleges that are situated close to your potential new home. Are they sought after? Do they have adequate reputation? The best public schools are certainly good enough to rival the private education you may have considered. If, by chance, your child is enrolled in one of these respected public schools nearby, the extra money you may have spent on their daily commute could be used to cover other miscellaneous expenses, or maybe a trip abroad. This point is something worth bearing in mind if you want your children to receive quality education without commuting too far every day. As certain educational institutions become more sought after, your home will become an increasingly solid investment.

 

However, safety and proximity are not the only factors with which to consider the area of any prospective new home. In a region as vibrant and multifaceted as Metro Manila, it is also necessary to find a neighborhood that suits your own cultural, political and entertainment preferences more than any other. Make time to research more about real estate in the Philippines and discover the areas that could inspire you to pursue a hobby, activity or interest of which you enjoy. When hunting for a residential location, ask yourself if a potential neighborhood or its surrounding area fuels your passion.Whether it is golf, live music or fine dining, keep your options open for inspiring venues.

 

In short, although it is absolutely imperative that you ought to think long and hard about just the right area for you and put some serious work into finding it, do not be disheartened! Whatever your interests, and regardless of your budget, there is the perfect neighborhood for you and your family in the Metro area. With just enough know-how and the right resources at hand, you are guaranteed to find it!

 

Image courtesy of Danilo Rizzuti – freedigitalphotos.net

 

 

Share Button