Things You Should Consider When You Want a Home Built

Land and Home

Ask about land and home packages they offer. Many custom home builders already have land they own so you can pick a place that you want your home to be. Of course one of the perks of building your own is to get it where you want it. If you have a special place in mind, they can help you to get it included with your home in one loan.

They can share with you what they feel it will cost of items you need such as electricity and plumbing. You may not be aware of all the things that have to be done behind the scenes to get land ready for a home to be built on it. You can be confident custom home builders know as they deal with these types of issues all the time. They can guide you through it.

Floor Plans

Most custom home builders have some basic floor plans they can share with you. If you like what you see, they can help you to go through the various options that allow you to customize it. You can get the colors you want and other details to fit your desires. If you have your own floor plan for them to look at, they should be happy to do so. It is all about what you want!

They can go over it with you and discuss what can be done and any challenges they may foresee. During these planning stages, there is still time for changes and additions. They won’t move forward with the real building until everything including price has been agreed upon.

Financing

It is a good idea to talk about financing early on. You don’t want to go through all the excitement of picking your place, floor plan, and then not being approved for the loan. Getting pre-approved is encouraged by most custom home builders. Many of them can help you get started with this part of the process. They want to see it all fall into place for you.

Timeframe

You should be patient with the process so it all goes smoothly. Expect to wait a year or so from the time you get started until your home is ready. There may be times when it is going to take longer or it can be done in less time. As you complete the various plans, custom home builders can help you with determining that amount of time needed.

There can be variables though including weather delays or inspections that hold things up. They will give you a good estimate though so you can plan when you should be able to move into your new home. That information can help you with plans to sell your current home or how long you will need a rental.

Don’t hesitate to ask for detailed information so you have all the facts. This is likely your first time going down this path. Working with an excellent builder who communicates with you and helps to get your questions answered is important. You want the outcome to be remarkable and well worth the investment. Don’t settle for anything less than that or it can become a problem.

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Home of Your Dreams

With this option, you get to select where the home will be. You can get a land and home package. The provider may have some land options already available for you to look at. Perhaps you have your own place in mind and you can discuss with them what it would take to get it ready to put a home on. custom home builders – the right choice have the right experience.

Stay within Budget

Custom home builders – the right choice when you want to stay within budget. It is a good idea to get your loan for a home of your dreams approved before you do anything else. Some providers have lenders they can help you to work with or you can get that completed on your own. Knowing you are approved and how much you are approved for will aid you with making selections.

There are plenty of options when it comes to creating a home the way you want it. Start out with the items that absolutely have to be a certain way or a certain type of material. Then you can consider compromising where you need to in the areas that aren’t so important so that you are able to stay within your budget.

Look for custom home builders – the right choice who don’t try to push you into spending more than our budget allows. They should be willing to help you get it all done for the right price. They will know ideas that can help you to lower prices if you are over your set budget. Yet at the same time, not cut the value of what the home is going to offer to you.

The Right Provider

If you want the home of your dreams, you have to work with the very best out there. You need to do your homework and check them. To help you find the right custom home builders – the right choice, check into who is available and what they have done recently. Find out about homes they have built and if people are happy with them. Such information should be easy to find.

You can look around online to see what comes up. This is great way to get feedback from other consumers about who they worked with and how it all played out. This can help you avoid trouble with certain builders. Look for someone that has safety in mind and follows the various regulations where you live.

Schedule a time to talk to them and see what they are all about. Make a list of questions to ask them. Do you get the impression they are listening? Do they have time to get your needs on their agenda or do they have too many projects in place now? Find out how long it will take them to get your home built so you can plan accordingly.

The more you know the easier it is to get it done with results you will love! Custom home builders – the right choice doesn’t happen by accident so don’t leave it to change. Get your home built by a company you can trust from start to finish.

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Why You Should Build a New Home

A house is more than just a dwelling. It is an investment, a way to save for the future and to watch your capital grow. It makes sense to buy and own a house rather than pay rent. If you consider the amount of rent you pay over a lifetime you will find that if you own a house and pay a mortgage, you save a lot of money and also become the owner of property you can pass on to future generations or sell at a tidy profit. Should you buy a used house or should you build a new home is the question. There are pros and cons to each. However, a new home is definitely worth considering over buying an existing one.

You can choose the location

It may not be possible to find an old house in the location of your choice. You can buy a plot of land in a location you like and think of building a new home entirely to your specifications.

Design of the new home

When you buy an existing house, you have to take it as it is and renovate or remodel. You could, of course, demolish the house and use the site to build an entirely new home from the ground up. In either case you have full control over the design, placement of rooms, siting of the house in the plot, size and all parameters.

Quality of construction

An old house will have a number of defects. There could be cracks in the walls, leaks in the roof, peeling paint and similar issues. When you build a new home you are in total control. You can decide whether your new house should be made of masonry-concrete or lumber or prefab or even steel, aluminum, glass. Your builder will also factor in “green” building technologies that will help save energy and keep the house cool in summer and warm in winter. The savings alone make it worth the effort. In addition, when you go for new construction and have a reputed builder by your side you have full confidence that quality materials and processes will go into the construction to make the building last.

Cost control

Fix your budget and talk with the builder. He can come up with a clever design that will give you a house within your existing budget with provision to expand later on. You could decide on a lumber home, which might give you a larger space at a lower cost. If time is a constraint your builder could help you select the right prefab house. You could decide on a concrete-brick structure, starting with a ground floor for the present and then build the first floor later on. You can even decide on what goes inside such as the tiles, wall cladding, insulation, fixtures, light fittings and every tiny detail.

Peace of mind for years

A new house will give you peace of mind for years. You will not have problems of water ingress from the floor or walls, dripping ceilings or drainage problems. A well built house should require minimum maintenance for at least five years, if not more.

Value addition

When the design is right and the exteriors blend in with the landscape to create an overall beautiful aesthetic, your house increases in value. Should you decide to sell a couple of years later, you can always expect a profit.

Pride of ownership

Last but not least, if you have invested time, energy, thought and money in the building of a new house, it is the realization of a dream and it gives you pride of ownership.

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Things Before Building a Home

Working with a team of custom home builders can be a fun process as first time home owners design their dream house. Most people that choose to build their own house have no idea how many options they have until they realize that they truly have a blank slate, and that they have the option to add whatever they would like to on it. Browsing through all the options available can take hours on end, so here are a few things that persons should consider before meeting with a team of house builders. Starting with the basics is usually the easiest for those that are designing their first personalized house.

Size

Before picking the details of a house, it is vital to know how much space the family needs, or would like. For example, professional house building companies will need to know the number of bedrooms, bathrooms, if there will be a laundry room, finished basement and so on. Obvious rooms, such as one bathroom and the kitchen are usually a given.

After determining the number of rooms, people are encouraged to consider the general size of the house. Some clients dream of having a large mansion while others are fond of the tiny house movement. This will also help the team of house builders give an accurate estimate.

Location

After figuring out the number of rooms, decide if there are any particular quirks regarding the location of the rooms. For example, individuals with back or leg problems usually opt for at least one bathroom on the lower level. If children’s rooms will be upstairs, the laundry room will be in the basement or there is a particular vision that buyers have, such as owning a mansion with all the children’s rooms in a circular shape upstairs, home builders would like to know. These companies can often work around as many quirks as families have, but it is usually easier to know before the designing process begins.

Flooring

Carpet is out and hardwood floors are in. Most people are opting for hardwood floors or tile in almost every area of the house except for bedrooms, but that does not mean that every person should. Take the time to carefully consider every room that will be in the house, and then decide what type of flooring is right for the family. This will help determine what type of flooring will be put down when the building is constructed.

Energy efficient or not?

Custom home building companies are seeing an increase in consumers that would like to build an energy-efficient house, but there are still people that are uncomfortable with new ideas, and are fonder of traditional houses. Consumers should already have a plan as to whether they would like their house to be as energy efficient as possible, traditional, or somewhere in the middle.

Undecided families are encouraged to contact their local house building company for a consultation to discuss the differences between energy-efficient houses and traditional houses to help reach a decision. Experienced staff can explain the differences in building material used, and how being energy-efficient can benefit families, particularly those that are concerned about rising energy costs.

Custom housebuilding companies run into everything from people that would like to create a house as small as possible to customers that are not the least concerned with energy efficiency and would like a grand mansion, complete with an elaborate staircase. Whatever quirks or preferences there may be, a highly skilled team of custom-house builders will be able to work around them in a helpful, non-judgmental manner.

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Trends in Real Estate Nowadays

For most people, the word “house” conjures certain images found in childhood drawings. If you have a building with mostly right angles, a single front door, a few chest-high windows, and a chimney, you’ve probably got a prototypical home. However, real estate is a changing field, and people are seeking unique housing options that don’t quite fit inside the box.

Tiny Houses

By all definitions, tiny houses possess most of the features of their more spacious counterparts, just in a much more condensed way. A favorite in both rural and urban areas, tiny houses are as much a choice in dwelling as a statement of one’s principles. While there is no presently agreed-upon size restriction before a domicile is no longer “tiny,” 500 square meters is an accepted point in some circles. Got a few too many boxes of t-shirts weighing you down? Tired of walking such great lengths to get to the light-switch before bed? Trying to keep your real estate tax down to a minimum? A tiny house might be for you.

Passive Houses

Not entirely in another world from tiny houses, passive houses are for those trying to reduce their environmental impact. Less a set of aesthetic rules and more an internal set of standards to maximize energy efficiency, this enterprising style is making considerable in-roads in the real estate market. Originating in Germany in the late 1980s, the style has slowly found a niche amongst people with a penchant for all things “green.”

Staples of these energy-efficient dwellings are superinsulation, airtightness, advanced window technology, solar techniques, and many others. Passive houses incorporate the entire system of real estate, so even the landscaping is efficient. For example, trees that shade parts of the dwelling appropriately and wind-reducing hedges can be a part of the design.

Treehouses

Perhaps living in trees will never constitute a substantial amount of the real estate world, but there is no question that they are gaining popularity. From increasing prevalence as an airbnb destination to a full-time paradise for more intrepid souls, life in a treehouse offers a lot of simple perks, as well as some drawbacks. Clearly for the more adventurous, many treehouses are entirely off the grid, and many of them are not quite up to code. Even a cursory internet search will reveal numerous forums on the subject of whether or not certain dwellings are legally allowed to be inhabited. Treehouse owners have to contend with being mindful of protected trees, wildlife protection acts, and other tight restrictions. If all of the criteria are met, however, the resulting home is something of a nature-lover’s paradise.

These alternative designs and ideas scratch the surface of present trends in housing. While they aren’t likely to replace conventional homes any time soon, they might be an indication of where things are headed.

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How To Get Approved for a Real Estate Loan

What does it Mean?
There is a difference between getting pre-qualified and pre-approved to buy one of the condos for sale downtown. The difference is a pre-qualification means you may be able to get the loan based on skimming of your income and other information. This is why you may get pre-qualified credit card loan offers from time to time. The information usually comes from a list.

When you are pre-approved for a real estate loan, it means you are able to get that money. You can use it to buy one of the condos for sale downtown that you are in love with. This process involves you actually applying for a loan, providing all of your documents, and completing everything the lenders needs to get you approved.

They will tell you the amount of money you can borrow and the interest rate. The offer is going to be good for a set period of time. Typically, it is going to be up to 90 days after you have been approved. Armed with this information, you can start looking around. Once you find the place you wish to make an offer on, they can help you to proceed.

Know what you can Afford
It doesn’t make sense to look for condos for sale downtown that are outside of your price range. With the pre-approval process, you are able to shop within your market price. You can use filters online to find those at or below your approved amount. You can talk with a real estate agent and they can refer you to real estate on the market that fits that amount too.

If you can find one of the condos for sale downtown that you want to make an offer on that is less than you were approved for, that is exciting! Not only does it mean you can buy it, but it also means you can reduce your monthly payments below what you know you can pay. That means more money for savings or you can use it to pay off the mortgage early.

Make an Offer
You have bargaining power with the pre-qualification for a mortgage loan. When you make an offer on one of those condos for sale downtown, the seller is going to see you are already approved. It can be enticing to them to accept the amount you offer rather than to hold out for another offer to come along.

Since you are already approved, you aren’t going to be on pins and needles after the offer, hoping you can get the money. It is very upsetting to some consumers who find the perfect place but then they can’t get approved for the loan. The closing can be done in less time too if you already have your loan approval completed.

Sometimes, there are credit report issues that prevent someone from getting the loan. Finding out about them early on before you look at property can be helpful. It gives you time to evaluate the situation and to work to clear it up. Then you can move forward with buying a place and not have unexpected surprises crash your dream.

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How to Buy Rentals With No Down Payment

This tends to be a pretty controversial subject, and for good reason. When I was getting started in the business, I was young and broke and had no credit to speak of. I was not qualified to borrow money, yet I figured out how to buy properties, and I bought a lot of them. It was not long before I became a full time real estate investor, and on paper, I was a millionaire long before my 30th birthday. I accomplished this with a lot of hard work, education and tolerance to take the risk.

With all this said, just because you don’t need money to buy houses, does not mean you should have no money. I am a big, big believer in this. You see, although I was a millionaire at a young age, I basically lost it all when the market shifted. I was too aggressive with my growth, and did not establish an appropriate amount of reserves. After starting over, I structured things differently and am in a good position to not only survive a down turn, but to thrive in it. In this article, I will briefly walk through 4 ways to buy rentals with nothing out of pocket, but want you to understand that this does not mean you should own rentals with no reserves.

Owner Finance: This could mean many things, but for the purposes of this article I am going to assume that the seller of the home is extremely motivated and is willing to basically sell the house just to get away from the mortgage payments. This is commonly referred to as a subject-to transaction because you, as the buyer, will take title subject-to any other liens that are in place. What this means is you get ownership of the house, but the seller is still on the hook for the loan. You as the buyer will agree to either pay off the loan or make payments on the loan on their behalf. If you don’t, the lender can foreclose and wipe you off of title.

The seller is taking a tremendous amount of risk with this type of transaction, so it is difficult to negotiate and they need to be extremely motivated. It works well for you because you don’t need down payments or to qualify for a loan. It works for them because they have someone else making the payments on their loan, which relieves them of the payment pressure, and potentially can improve their credit. As you become more experienced, this is a strategy you will want to look into. This allows you to purchase an unlimited number of cash flowing properties without ever needing to qualify or sign for a loan.

Lease Options: This is the strategy that really worked for me when I was just getting started. I like it a lot because it is easy to explain to the seller and it is not difficult to get them comfortable with it. They still need to be motivated to want to do this, but nothing like the subject-to transactions.

The way this works is you negotiate with a seller of a home to lease the property for a set period of time. I would typically negotiate 10 years on these, but it can be anything you are comfortable with. The rent amount will be set. From there you agree on a price to buy the property for sometime during the lease term. The price is typically locked in close to today’s value. You then sublease the property, hopefully for more than your rent payment, and wait for the value to increase. If the value does not increase, which has happened to me, you can either re-negotiate the deal or let the property go. You have no obligation to buy, so you are not taking the risk of market fluctuation. If and when the value does increase you have several options: You can sell your option, exercise your option and resell the house for your profit, or just exercise the option and keep the property in your portfolio.

Bridge Loans: The idea here is to find a property that needs a lot of work that will make a good rental. You need to negotiate a price were you can buy it, fix it, and roll in all closing costs, and still be at or below 70% of the after repaired value (ARV). This does not work well unless the property needs to be repaired. This is very different than the first two strategies discussed, and is commonly used with bank owned foreclosures. Although, anytime you can negotiate a great deal will work.

After you purchase the home, you want to get it repaired and get a tenant in place as quickly as possible. You then refinance the loan into your permanent rental property loan. There are some additional details for this to work that are beyond the scope of this article.

Partners: At the time the market was collapsing around me, there were tremendous buying opportunities everywhere. Using the Bridge loan strategy, I was able to pick up a handful of deals that I still have today. I did not qualify for loans, so I brought in a partner to sign on the debt for me, and I shared the deal with him 50/50. Neither one of us put money down, and the properties all cash flow, net of vacancies and maintenance, a minimum of $300 a month. There has also been a tremendous amount of appreciation over the years. The houses have more than doubled in value!

No matter what your strategy in real estate, partners can help you reach your potential. They can provide anything that you are lacking to get deals closed. I have a great deal of respect for partnerships because I think they are necessary, but I also think they can be the worst decision ever made.

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Guide to Value a Freehold Property

There are no yardsticks to measure the value of a freehold property. This is because evaluating a freehold is not an accurate science. However, you can follow certain guidelines on what you need to take into consideration when valuing a freehold, which is produced by the advisory services that give free advice to leaseholders. You must also take these three factors into consideration:

1. The current value of the property

2. The annual ground rent

3. The number of years currently left on the lease

Also, evaluate the expected percentage increase in property value that results from extending the leases of different lengths, along with forecasted long term interest rates and inflation rates.

Take help from an expert valuer rather than trying to work out a figure all by yourself, to present before the freeholder. An expert valuer will be able to give you the best advice, which will enable you to make a practical offer.

You will find expert valuers online. They will help you with the entire process of negotiation and buying the freehold.

For the benefit of the freehold, most surveyors add a little extra to a property’s value. This is done after comparing it with similar property with the same number of years on the lease but no freehold.

First, approach your freeholder informally, before you serve him with a first notice. This document should include your preliminary offer for the freehold, which starts off the legal process of buying it.

A word of caution. Never produce an initial notice without obtaining an expert valuation. If you make the wrong evaluation in the initial notice you won’t be able to take back the offer. After the initial notice, wait for the freeholder to reply to it with a counter notice by a date that you have given. The freeholder must be sanctioned at least two months from the date the initial notice is served.

If the freeholder is not sending his counter notice within this period, the leaseholders can take matters into their hands. They can apply for a vesting order at a court. It is now up to the court to move the freehold to the leaseholders. So freeholder’s should respond on time to the initial notice for their own benefit.

Buying a share of freehold will make little profit if you already have had a decent length lease. You would still have to give the same authorized costs as someone with a short hire, but would lead to a drop in the value of the property.

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How to Make Office Space Design

Office space design has been one of the top priorities for most of the business owners when they look for an office space for their business. Of course, it has to be a top priority as design plays a very important role in providing a great environment for employees while allowing them to work to their full potential. It’s something that alters the moods of employees greatly; so having an effective office space design will certainly boost the productivity of employees while helping them to be focused.

But how would you make the design effective? Here’s how you can do it.

1. Prioritize flexibility

Every business owner must be aware that comfort zone is where the magic happens. One of the elements that promote the creative and physical wellbeing of employees at a workplace is the movement of the body. Human body is not made to sit in a 90° posture all the day. An effective workplace will always be a flexible one allowing employees to work out of their desks.

Yes, it’s all about breaking the bond between the employees and the desk. Design your space in such way that you have some areas that allow your employees to work standing (like café height tables), sitting (couch or traditional workstations), so that the employees can feel free and work from where they are more comfortable.

2. Showcase your culture

The first thing you should think of when you start designing your office space is, what you have to convey through the design. It’s very important for a company to be reflecting its culture in its design. It gives employees a feel of being involved with the company’s endeavours which builds great trust and creates a strong bond.

One simple way for companies to reflect their personality is to use colours. For instance, a creative agency can have its paint, interior and furnishings in vibrant colours like yellow and orange. This also fosters creativity in employees while also adding value to the company. Know what colour has what impact and employ according to the company culture.

3. Include play areas

Employees at a workplace definitely need some refreshment in their hectic schedules, client calls and tight deadlines.

How relieved do you feel with a simple table tennis match after a hectic day at work?

That’s a lot right? Definitely it is. People with their hectic schedules at work have almost forgotten the day when they last played a sport. This being the case, having play areas at the workplace encourages employees to be lively all the time playing indoor games like table tennis, carom board or any other. It’s just a break to their non-productive drag bringing them back to focus.

These are a few simple tips to design your office space so that the employees feel more lively and productive at the workplace. So, if you are planning to design your office space, consider these tips to make it a great place for employees.

And if you are searching for an office space that already has these features, there are lots of fully furnished office spaces available in the market. Just seek help of an expert commercial real estate agent who can help you find a good office space that suits your business, employees and the company culture.

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All About Rental Agreements and Business Rates Liability

When renting premises for a new business, the renter should sign the lease in the name of the venture only, preferably without guarantors, who could personally face big rates and rent bills, if the business should fail, for the rest of the term of the lease.

The lease should only be signed in the limited company name with all correspondence regarding the rent and lease addressed to the company.

If an individual’s name is signed on the lease or as a guarantor, all the responsibility is then passed on to that individual, or that guarantor, for rates and rent if the business should fail, removing the liability from the limited company.

There is no point going through the limited company process with directors, audited accounts, shareholders and dividends if the liability for rental agreements ends up with individuals to remove liability from landlords, in respect of future rates and rent bills.

It could be seen as a weakness in the process that some landlords are trying to remove or circumnavigate this limited company liability, through trying to get individuals to personally sign lease documents.

Once signed in a personal capacity or as a guarantor the landlord can then present the lease documents to the council, so as to remove any business rates liability from them for as long as the lease is in operation.

It is the rental agreement which will indicate to the landlord and council that the limited liability of the limited company ends with the company and then should not be passed to any individual personally. This is why the company is limited for the reason of limited liability.

At no point should a private individual’s name be used on the lease. If this basic understanding cannot be achieved with the landlord, then you may want to think again before signing the lease.

If you have to sign your own name because the company is not limited it means that any rental or lease agreement should be closely examined by the renter before signing.

If the lease is long term and the renter cannot release themselves, they will be personally liable for the rent and rates over the forthcoming months or years.

To sign a lease in an individual’s name can lead to financial ruin. A great deal of thought should be given before you sign your individual name to any lease document.

It is the case that future bills for rent and rates can be given to bailiffs to chase, and they may chase you personally. Even if you sign the lease in your personal name on behalf of the company you may still be liable.

If the occupying business is limited and struggling there is the option of closing it down, although the council, landlord and even Bailiff Company if involved, may claim to be a creditor and if there are any outstanding rates or bills due, they could try to prevent the closure until any outstanding debts have been paid.

However, if limited and signed in the company name only, all the correspondence and any future bailiff visits from either party should go to the company address. As the business will no longer be operating it should not matter to any individuals personally involved with the company.

Evidence (the lease in the company’s name) may be needed as well as a closed business bank account to prove to the council and landlord the business has failed and closed.

It has been known for some council’s to address rates letters to individual directors of a company to then allow them, the council, to update their records and make the director responsible/liable for the business rates without the director’s knowledge.

This could be seen as an attempt to remove liability from the limited company and place it on a named individual. This action if engaged in by a council needs to be immediately brought to their attention and rectified with a copy of the lease signed in the company’s name being sent to the council.

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