Things to Note When You Decide to Remodel Your Kitchen

Kitchen is known as one of the biggest contributors in increasing real estates and even apartment values. Both home appraisers as well as homebuyers consider kitchens as one of the most important places in a house.

There are plenty of reasons why homeowners or real estate people would usually invest in kitchen upgrades. Aside from the fact that people spend a lot of their time in the kitchen, automatically turning kitchen into social spaces as well; kitchen upgrades are known to bring high ROI (return of investment). Kitchen is also a space where a lot of energy is consumed on a daily basis. Upgrading kitchen appliances and equipments may actually save a lot of costs and energy in the long run.

Before laying down money to remodel the hell out your kitchen, heed some of the essentials here.

Assess your kitchen

Go over the basics of what a healthy house and a healthy space entail. Make sure to assess your overall space, both the kitchen itself as well as the surrounding area. This is important not only when you’re about to make major and costly kitchen remodel; often, by simply assessing your space and being able to rearrange it would cause a major change in your kitchen.

Have a design plan

Always have a plan, always have a sketch and the design down. Rough concepts are where it all started. Consulting with a professional would be the ideal scenario. Designers or architects would be able to provide you insights that you may not think of before. If employing the help of designers is out of your capability, then make sure to do your research thoroughly, and even consult people who can give you second opinions if you need them.

Maximize storage

One of the aims of kitchen upgrade is to maximize the overall storage capacity. Tiered racks, open shelves, lazy susans are applicable alternatives that could be cleverly utilized instead of installing cabinets that are both costly and space-consuming.

Kitchen sink and faucets

Upgrading your kitchen sink and faucets may be a wise move. Make sure to assess their condition and their functionality. Old sink and faucets are sometimes best removed if they don’t function well or are difficult to clean.

Windows and doors

Air circulation is something extremely important in kitchen space. This is a potentially a costly remodel of the kitchen. However, good air circulation and lighting brought by good ventilation through windows and doors can save you a lot of money and energy in the long run for air purifier and other energy consuming utilities.

Lighting makes a big difference

Natural lighting is the best in all cases, thus, referring to the previous point. Additionally, good electric lighting design is just as important. Good lighting will improve kitchen’s ambience considerably. Warm and welcoming kitchen is something that more than just visually pleasing. It creates a better overall atmosphere of the house. Consider getting LEDs for energy saving and more aesthetically pleasing lights. For visual interests, consider pendant lights, toe-kick lights, etc.

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Market Condition in Real Estate: Hot and Cold Market

People who are not in the real estate business sometimes overlook the state of the market when they decide to sell their properties. Whether one is selling their house or looking to refinance their mortgage, having the knowledge of the housing market during the time one decide to sell is essential.

Hot and cold market condition for real estate business

Although home sellers have gained the information of the value of their property through appraisals, in many cases, the prices may not reflect the current market “temperature”.

Knowing how the market is faring won’t just help sell your house faster, if the timing of the market is right, sellers may close the deal higher than their asking price. The opposite applies.

What does “hot market” mean?

The temperature of the market is referred to as “hot” according to several factors, generally indicates a big demand of housing. Hot market is also known as “seller’s market”. Some of the basic defining notions of a seller’s market are as follows:

Inventory is low compared to previous months or years

Inventory is considered “low” when there are a significantly higher numbers in demands compared to the number of houses available in the market, resulting in a high number of closed sales.

The real estate market in a certain or in multiple areas is considered hot when there are higher demands compared to inventory compared to 3 to 6 months, or years past.

More demand than inventory

Although inventory remains high, demands or offers may start to come in and more houses in MLS (Multiple Listing Service) start to go into “pending” status.

In a hot market, buyers are sometimes willing to accept flaws in the house. Affixed fixtures to the house such as minor leaky roofs or faulty faucets may be overlooked during the time where houses are high in demand.

Because of this, sellers are often able to sell a house “as it is” without making improvements to the house.

Increase in median sale prices

Listings in MLS are closed quicker compared to the average time during the previous 3 to 6 months, or years. Homes sell faster, and often, the number of DOM (Days on Market) for listings are fewer.

What does “cold market” mean?

Cold market is the opposite of hot market or seller’s market, whereas there are more houses to sell compared to the demand of houses. This is also referred to as “buyer’s market”.

During the time when the real estate market is cold, it’s obviously an advantageous time for people to buy a property.

Inventory is high

During buyer’s market, inventory is higher compared to the previous 3 to 6 months or years. Listings typically have longer active periods. Several listings may have already expired and therefore it may take some research to know whether one or several listings have been withdrawn or expired before they are put again on the market.

Fewer buyers are purchasing

Pending statuses may get cancelled out, or a listing may go into the pending status longer.

There are typically fewer buyers compared to the number of house available for sale, resulting in more options for home buyers. Sometimes, an indication of a cold market is that real estate ads can be seen everywhere.

Median sale prices are declining

Buyers have the privilege to chose during the time the market is cold, therefore, this results in a decrease in price because there are more competition than demands. Deals are often closed on a lower price compared to the listing’s asking price.

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Why Kitchen is a Home Upgrade that Should Take Priority

If you’re looking to upgrade your home, whether for your everyday living to increase the value of your property, kitchen may have crossed your mind at one point or another. Kitchen is an integral part of your home that’s essential beyond its basic functionality.

There are a lot of factors to take into considerations when you’re thinking of remodeling your kitchen. More than just cosmetic modifications, kitchen’s appliances and basic tools functionalities should be considered as well. However, a thorough assessment of your kitchen needs to precede everything before laying out plans. Kitchen upgrade is one of the major improvements and these are some of the biggest reasons why kitchen upgrade is an integral consideration when the topic of home upgrade is brought up.

High return of investment

Kitchen upgrade is arguably the highest contributor in value increase when it comes to home upgrades, along with bathroom upgrade. Depending on several factors, your ROI on kitchen upgrade may pay back 180% recoup. Kitchen is a place that will come under scrutiny to both potential buyers and appraisals.

One of the most expensive areas to construct

Kitchen appliances, plumbing, sufficient air circulation, and everything else need thorough planning when building healthy kitchens. In terms of constructions, kitchen is one of the most expensive areas to construct. Homebuyers are aware of this and how much effort goes into building and maintaining the kitchens would reflect this.

People spend a lot of their time in the kitchen

Since ancient times, kitchen is an inseparable part of humans’ dwellings. Humans spent a lot of time in the kitchens when they’re at home, and this does not seem to change in modern humans. A lot of activities beyond cooking and eating happen in the kitchen, and it makes sense that kitchen would be one of the highlight of the house and it should be one of the most comfortable places people could spend their time in.

Kitchen is a social space

Family, friends, and basically most people who come over to your house would likely see your kitchen, or even spend time in your kitchen. Kitchens in addition to dining rooms have long been a space to welcome people. In guest houses and share houses, kitchen is usually a common room or a shared space. To fulfill its additional role as a social space, furnishing up kitchen becomes extremely essential.

Minimizing household costs

Upgrading to newer models might sound expensive, but it may cut you a considerable cost in the long run. Older models are known to consume more energy. Having energy-effective and promoting cost-saving feature is an excellent selling point of a house.

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Home Appraisal in Brief

Getting a home appraisal is something that some people would consider for a number of purpose.  Home appraisal is also known as property valuation. Real estate transactions often require the service of an appraiser to valuate their properties. This is due to the infrequency of real estate transactions. Each property is unique and putting a value and naming a price is often one of the most difficult process of selling real estates.

APPRAISAL CONCEPT

What is an appraisal?

Appraisal is property valuation. It is done to obtain an objective value—it could be lands or properties. Appraisals in theory is an independent opinion formed by a third party known as appraisers to develop an opinion of value. The value and the price of the house is often decided by the market. Appraisals include information in recent sales of the real estates in the area, the condition of the property, and it also takes into account information on sales of similar properties.

An appraisal is done through a complete visual inspection of your property. An appraiser typically spend twenty minutes to several hours in the property, depending on the size and complexity of the property.

Who does the appraisal?

Real estate appraisals are done by trained professionals. In Britain, they are more commonly known as valuation surveyors. In many countries, appraisers need to have license in order to be able to offer their service. An appraiser is often managed by an appraisal management companies. Real estate appraisal is something that is heavily regulated because of their important role in deciding the value and the price of a property. There are commonly three stages of being an appraiser; appraiser trainee, licensed appraiser, then certified appraiser.

What do they look for in home appraisal?

Appraisers looks for your house’s physical characteristics. These physical characteristics include square footage, number of bedrooms, number of bathrooms, lot size, and other factors. Views from within the house (if there is any) is also considered. Home appraisers don’t put value to the things that are not affixed to the property. Therefore things like furnitures and decorations are not part of the appraisal process.

Home appraisers also evaluate your property’s observable exterior and observable interior. Things such as cracked ceilings, cracked plasters, broken windows, faulty faucets and such affect your house’s perceived value. Make sure to check things like plumbing, and light fixtures for anything that might be faulty or broken. Your house needs to function as it’s supposed to, so do reparations where it’s due.

Why do people do home appraisal?

People do home appraisals for a number of reasons. A number of real estate people and even average homeowners alike enlist the help of home appraisers when they need a third party opinion or when they get multiple offers. Home appraisals are also done by people who’d like to lend money from financial institutes. Home appraisals are done to assure the lenders of the money the value of your house. It provides a more solid documentation on the value of your price that is supported by observable facts.

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How To Get Cheap Property For Sale In Ubud Bali

Ubud is an icon of Bali. Ubud is also one of the world’s best cities. A combination of culture, traditional dance, culinary, panoramic views of green rice fields, up to the cool air. Don’t be surprised if the property in Bali has always been an attractive and smart investment. Construction of hotels, villas, and resorts in Ubud is increasing as demand for accommodation is high.

Property for sale in Ubud Bali is undoubtedly increasingly sought after by investors. Good property in the form of land, villas, resorts, or residences. In fact, many foreign and local residents are looking for property for sale in Ubud Bali, either for rent or sale. The benefits obtained will be very tempting. Accommodation is an important factor in Balinese tourism. Investors build accommodation with high comfort.

Property For Sale In Ubud Bali, For A Comfortable and Quiet Lifestyle

Super special and exceptional villa and resort services are one reason many tourists seek accommodation in Bali. When viewed from the business side, property for sale in Ubud is a gold field. For tourists, looking for property for sale in Ubud is like living in a dream country.

Although there are many enthusiasts to invest in Ubud, there is still your chance to look for property for sale in Ubud Bali. Property in Ubud always has fans. Vacationing in Ubud provides a sense of calm and comfort. Do not suprise if many tourists return to Bali, either for vacation or decide to stay.

Ubud has its own charm. Ubud is not only an icon of Bali but also a favorite area for musicians, writers, and painters. You can find The Blanco Renaissance Museum, Le Mayeur Museum, and more. To get a property for sale in Ubud, you need accuracy. In fact, property increases and decreases prices. But for popular areas in Ubud, it’s hard to find property for sale at low prices.

“Sell Need” is a term that is widely used when someone needs money quickly. They sell the property at prices below the market. As said, you must carefully look for property for sale in Ubud. Most “sell need” property information only revolves around the local population. You need an intermediary to find cheap property for sale in Ubud below the market price. What makes you happy? Getting property for sale in Ubud Bali and staying comfortably is happiness that cannot be replaced by anything.

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What You Need to Know About Real Estate Crowdfunding

Investing your money in real estate can be a great way to gain long-term source of income. Most investors choose to private real estate. However, real estate crowdfunding now has become a new path chosen by investors. Before going far to the benefits of this kind of investment, it is better to build knowledge and understanding about this first. Real estate business is not something to be taken lightly because it involves much money, energy and time to start with. Thus, finding important points in this crowdfunding for real estate is the right step before you further to the next stages.

What You Need to Know About Real Estate Crowdfunding

 

All about real estate crowdfunding

Before going to dig in about the role of crowdfunding in real estate investment, it is better to understand first about crowdfunding. Shortly, crowdfunding is a new and exciting way to raise capital that lots of investors now has taken interest to. These days, many business owners use this method as the way to raise their money. However, instead of asking one investor for huge investment, they reach out to large pool of investors who contribute in small amount of money. You may look this method as usual way in raising money from the crowd. However, crowdfunding has its difference from traditional method because crowdfunding use online platform for the process of gathering the investment. The benefit of this method of investing for investors is the available option of choosing investment route. Basically, there are two options which are equity investment and debt investing.

First Option

The first option is what most real estate crowdfunding investors choose due to its higher return compare to what the second option provides. Using equity investment route means you are effectively becoming shareholder. The benefits are lower fees where you can pay an annual fee. There is also tax benefit you can gain by choosing this option in which you can deduct expenses from annual tax. In addition, being a shareholder means you gain another benefit which is unlimited returns. However, there is also contradiction of this option, which is a longer hold period. It can last for 5 to 10 years.

Second Option

The second option is debt investing. In this method, you are practically a lender to the property owner. You will only receive fixed return based on interest rate of the owner’s mortgage loan. You can only gain the return based on the amount of money you have invested in. In short, your return is limited unlike what equity investment can provide. There are also benefits from choosing this option though such as steady return. You will receive steady income since your investment is structured. The risk is also lower when you invest this way since you are not the one who secure the mortgage loan but the property owner. Hold time for this investment is also shorter compared to equity investment. It generally last from 6 to 24 months. Before investing your money for real estate crowdfunding, make sure you choose trusted platform. It is safe to choose reliable and common crowdfunding platform to avoid shaddy business.  

 

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How to Choose the Right Real estate Crowdfunding Platform

These days, real estate crowdfunding has become more popular. This is a great method of investing because investors have more chance to invest as what they can afford. They do not need huge investment from one investor but gather small amount of investment from the crowd. Since this method is online-based, you need to know how to choose the right real estate crowdfunding platform. The popularity of this method of investing keeps growing. As the result, there are lots of crowdfunding platforms. It makes investors harder to choose the right platform. Choosing the wrong one can risk your investment to waste.

 

Selecting real estate crowdfunding platform

As mentioned that there are dozens of crowdfunding platforms. Each platform has different approach of investment method. Thus, you need to choose the one tat suit your interest and needs. Researching crowdfunding platform based on its prospective tech. It can help to decide which platform that fits you the best. Here are further tips on selecting the right crowdfunding platform:

  • Find out if the platform function as listing service only or not. It is better to avoid platform that function only as listing service, instead, choose the site that acts as broker dealer. This is more trusted and promising for your real estate investment future. It is also recommended that you choose the site which has gained experiences in handling this type of investment.
  • Investing money means you will be involved in the business for certain period of time. This is also what factor you need to consider when choosing the right real estate crowdfunding platform. Find out how long the platform you are going to choose will be around. A platform with solid venture capital banking is recommended to select instead of the unsteady one. By choosing solid platform, you will be more secured with your investment especially when you take equity investment where it usually takes 5 to 10 years.
  • Find out what kind of approach they use in the crowdfunding investment. As mentioned above that each platform may have different approach in this matter. This cannot be taken lightly. Instead, you need to do thorough research. If their approach and method fits your needs then you will be more certain and safer to invest your money.
  • Each crowdfunding platform also conducts its own due diligence. This relates to documentation. This is important to consider because it is about important deals. Find out how the platform collects the documentation from investors for potential deals. For example, find out if they ask for companies to provide liabilities or indemnities. This is very important for investor or reassurance.
  • The quality of customer service provided by the platform also needs to be included into consideration when you select for the right real estate crowdfunding platform. Somewhere along the time of your investing, you will have many questions to ask. If the person on the other line is not comfortable to talk with, it is better to search for another platform which can provide quality customer service.
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Understanding Benefits of Partnership in Real Estate Business

Being independent is not a bad thing in running a business. However, it will be better when you can find the right partner in real estate investing. There are benefits of partnership in real estate business you might not know.

Benefits of partnership in real estate business

Either you start your real estate business or try to grow and expand it, having suitable partner is indeed beneficial. There are many situations when you think that partnership is needed.

For example, you will need partnership once you find that your financial resource needs to be doubled up.

You will also find it important to get a partner when you have weak point in running your business and need another strength which can only be provided by someone else.

Benefits of partnership in real estate business you should consider

There are many reasons why you need partner. However, each reason aims to boost up your business instead of bringing them down. Finding perfect partner is not easy.

However, it will be easier to do if you have known what exactly you need from your partner. Thus, your objective will lead you to find the right partner.

Here are benefits of partnership you need to know so you can boost up your real estate business better:

  • The first benefit you will find once you find the right partner is to complement your existing qualities. Everyone has weak and strong points.You must also have weak point and that is why you need to find a partner who can cover your weakness with their strength and vice versa.

    Therefore, you have no hole in your business and instead open more opportunities to make it bigger and stronger.

  • Your financial resource will be doubled up once you create promising and solid partnership. Thus, you can finance even more deals in the future.You will also be able to expand your network link. If you have a partner who has wide connection and network, you have more chance to bring more money to your table.
  • Network is important element to build real estate business. Therefore, having a partner means your connection will be twice much.The opportunity is even larger so you can spread your wings within larger community.
  • By having the right partner in building your real estate business, you will have another set of eyes. You will be able to have second opinion so you can minimize making unnecessary mistakes.It is difficult to find your own mistake. In contrast, it is easier to critic others. Thus, having partner means you can see a situation from another perspective.
  • One of the most important benefits of partnership is to share burden and responsibilities so everything will be much easier and lighter.You will have more ideas to find, share, discuss, and execute to gain more success since you have another brain. Sometimes, it is easier to get stuck in certain point.

    Thus, all you need is another shoulder to carry the burden so you can find fresh ideas.

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How to Find Suitable Partner to Run Your Real Estate Business

There is no such thing like perfect person. Thus, it will be impossible to find perfect partner in business. Instead of searching perfect partner, it is more recommended to find suitable partner to run your real estate business. Suitable partner means you will be able to complete each other. Every person has weak and strong points. Thus, finding suitable partner will allow you to complete your partner’s weakness with your strong point and vice versa. Partnership in business is not something new. Indeed, it is helpful to have partner in investment. Searching for potential partnership is not easy though. However, it is important thing to do if you plan to take step toward your business goals.

How to Find Suitable Partner to Run Your Real Estate Business

 

Tips to find suitable partner for real estate business  

The benefit of having a partner in running real estate business is that you will have double resources. Finding the right partner will open more opportunities for you to gain benefits in finance, strategy, and personal. It is also important to know partnership agreement you are going to make. Keep in mind that you need to make everything specific and in detailed. Here are some tips to find suitable partner to run real estate business together:

 

  • Finding the right partner will be easier when you know exactly your own business needs. Thus, the first thing to do is to identify your objectives. Ask yourself, what type of partner you need to boost up your real estate business? For example, if you lack in networking, you need to find a partner who has powerful network. In short word, you need to find a partner who can fulfill your needs and wants in business.
  • After finding out the type of partner you need, you will have clearer view because you must have already had some candidates in mind. To make your conquest easier, you can find suitable partner starting from your immediate family and close friends. Make sure you choose by considering some points such as personality, habits, strength, etc.
  • If you cannot find potential partner within you family and friend zone, you can go further by searching in your local real estate investing association. There must be potential partners that you can find. You can ask for recommendation through trusted people working in the field. Knowledgeable, seasoned, and witty partner is great to choose if you find any.
  • Next thing to do after finding potential partner is to investigate thoroughly. You need to recheck their past deals, collect important documentation, as well as clarify their goals. If your potential partner is on the same page as yours, you have found the right one.
  • It is highly advisable that you take partnership agreement through legal and formal ways no matter how close you are with your partner. Once you find suitable partner, review the contract before signing it up. Make the agreement or contract to be as transparent and productive as possible. Thus, there won’t be unnecessary trouble waiting for you in the future.  

 

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How Passive Income Investors Should Evaluate Rental Application

Passive income investors are those who rent their property to the tenants and earn steady income each month. In the process of renting out the property, it is important that they evaluate rental application. If you are one of them, you need to be aware as well of this fact. Rental application is not only a piece of sheet. It is important piece of the screening process equation. Picking out the right tenant is important because they will decide the future of our rental property as well. Don’t let any hectic things ruin your attempt to get the right rental application. If you spend your time to understand more about rental lease application then you can identify the best possible tenants.

How to evaluate rental application

Processing rental application doesn’t take long time. It can take one day to a week depend on the circumstances. If you want the process to be faster, you can follow most rental agencies that have online system so they can collect rental application quickly. It is easier process because then it only takes hours to gather other important information such as criminal history, credit card records, etc. The process of evaluating takes several stages as following;

  • First, you need to collect rental application. In this process, you need to require the tenants to provide all necessary information such as driver license, social security, employment information, and references. You can also asses rental application fee if you think it is necessary though it is not obligation. They are all important information to collect so you know better your tenants and select the good one.
  • The second stage to evaluate rental application is by charging application fees. It is important for you as a landlord to ask your prospective tenants to submit proof of income as well. To verify the proof, you can call the employers even though they will not give you more information aside from the verification of the tenant’s employment. This is the way to find out if the tenant has steady income to pay the rent.
  • Another way to make sure that tenants have ability to pay rent properly is by requesting proof of incomes. It is important in screening process. You can also process credit checks to add your evaluation to the tenant’s financial condition. Sometimes, there are applicants who have little to no credit. Then, the decision is yours.
  • Next is to evaluate background checks. This is important so you know who rent your property. You can also ask for references. Those are mostly a list of previous rental properties and past landlords. You can call those references if necessary to make sure that all references are true.  
  • Next, you just need to pick the best possible tenant. If you have made your decision clear, schedule the lease- signing meeting. You can also ask them to bring the first month’s rent. It is highly advisable not to skip any stage to evaluate rental application so you can make the right decision.
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