Buying a residential property is one but maintaining it is a different story. It takes both time and money to keep a house at its best shape and to ensure that it piles on value instead of depreciates full throttle. It may not be easy but that doesn’t mean it’s not doable. Here are some tips from the experts on how we can all do it right.
Know your house. This is the first step to providing the best maintenance there is. Without fully understanding the property, it will be difficult to give it what it needs. Take out the blue print. Find out about its structure and materials. Call an expert if need be.
Allot budget for it. The number one reason why many homeowners fail to provide regular maintenance is because they don’t have money for it. Why? Because they did not include it on their budget in the first place. Don’t make the same mistake.
Invest in quality. Always opt for durable materials. Never replace excellence with cost savings. It may seem like a practical choice at present but it’s not going to cut it in the long run. Eventually, it won’t hold up so expenses will still pile up and more often too making it more costly as time goes by.
Repair things immediately. A small blunder may appear to be insubstantial at first but keep in mind that every huge problem starts small, for instance a leaking faucet. When water seeps through the foundation it can rot and weaken it which brings us to our next tip.
Be mindful of where the water goes. When wood or even concrete gets consistently soaked non-stop, it can weaken over time. Perhaps not immediately but the risk is still there. This is why it is necessary to invest in quality plumbing, fix faulty roof immediately and ensure that one’s gutters and downspouts are working and are free from any blockage.
Make it a point to clean the furnace filter at least once every month. This is to remove any build-ups, particularly that of dust. This should help better regulate the temperature and help manage utility consumption. Nobody wants expensive bills.
Conduct inspections. A residential property has to be maintained inside out and vice versa. As much as repairing an issue is necessary, so is preventing it or even detecting it to begin with. To do that, one has to look around.
As businesses acquire a new UK investment property, they’ll need to do one more thing and that is to move. But we all know what moving offices mean. It brings about the much dreaded packing. It’s a lot of work but it has to be done. There’s no shortcuts around here. Moreover, it needs to be achieved in as efficient and as quick as possible because a business on the move means operations on hold.
So how can your company pack fast and move with full speed ahead? Here are some tips.
Hire a professional removal company.
Unlike moving homes, companies are a different scenario because there are more assets and people involved plus time is of the essence. Professionals are a must for these reasons and for purposes of insurance. Plus, they’re expert packers. They’ll get things done faster than you could. Only call up and hire the best office movers though so make sure to research and find who offers the most quality among the available options.
Form a moving team.
This should be composed of key employees from every office department or division. They are assigned to oversee the whole moving process and ensure cooperation across the whole organization. They are the ones that will closely work with and coordinate with the removal firm hired.
Create an inventory of all assets.
If you know what items to move and how many there are then it would be easier for you to purchase the right supplies and plan on how to deal with them during the move. This shouldn’t be particularly difficult as businesses are expected to maintain an audited inventory and record of all their assets at least from the past financial period. This should aid in terms of packing and identifying which supplies will be needed.
Communicate well and early on.
Communication is a key in ensuring quick and effective UK investment property relocations. Entrepreneurs need to remember that moving will entail a complete or partial halt in operations. The faster you finish then the better. To do so, you want full cooperation from everyone. Don’t get your staff surprised by informing them at the last minute. They would be of much better help if they know about the plans earlier. They will after all still do their fair share of packing even with the movers involved.
Should I buy or rent a residential property investment? Chances are you’ve come across this question a number of times and chances are you’ve found it particularly hard to answer.
It’s no surprise that the question proves difficult. After all, we all have our reasons and we have unique circumstances and preferences. However, we should still dwell in the facts and spend adequate time weighing between the alternatives to better understand which of the two proves to be more beneficial.
To help us do that, we’ve compiled a list of benefits that go with each option. Here, take a look.
You build equity as time passes by. – In other words, each payment towards the purchase of the property adds up to one’s assets. We love equity because it represents ownership.
You end up owning the property. – Once full payment is completed, the title transfers to your name. It becomes your asset and therefore something you own.
You can do whatever you want with it. – In terms of renovations, improvements or upgrades, there will be no mandates or rules to live by. This means full creative freedom. You can even sell it or lease it out too whenever you deem necessary. That constitutes to another benefit which is income.
You enjoy tax deductions. – Some expense items may be considered tax deductible thus lowering an owner’s total income payable at the end of the year. Plus, other benefits like federal tax deductions and homestead exemption may be availed where applicable.
You don’t have to spend huge upfront. – Buying is very costly and requires a significant sum. That’s not very appropriate and practical for others that is why renting becomes more favorable as it will require significantly less upfront.
You spend less on repair and maintenance. – Depending on the lease contract, the costs and responsibilities involving asset upkeep shall be born mostly by the landlord.
You don’t suffer from market fluctuations. – When something goes amiss in the real estate market and home prices drop, you don’t suffer a huge loss. Rather, there’s even a chance that rental prices lower to encourage more tenants and to signify the current market value of the house.
You can move in and out easily. – When leasing a residential property investment, there’s no fear that a huge chunk of one’s cash is locked within the asset making it easier to move if the situation calls for it.
Maintaining your commercial property investment UK is crucial for a number of reasons. For one, upkeep is necessary to ensure that it stays functional. Second, this helps in ensuring that value is preserved and appraisal is more likely to happen. Third, it has something to do with presentation. No customer will want to approach a dilapidated and forlorn looking establishment, now would they?
This is why today we’re dishing out some tips on how it is to be done. Check out the following maintenance tips for your commercial property!
Improve your curb appeal. – Like they say, the way you carry and present yourself matters. First impression may not last but it speaks legions. The same is true even for real estate assets. If you want people to come in then you have to start in the exterior. Mow the lawn. Clean up your curb. Manicure the garden, if any. Update your display window. Touch up the paint. Use an eye-catching signage and what have you.
The inside matters too. – Yes, at the end of the day it’s what’s within that truly counts. On that note, ensure that you also maintain the interiors as much as you do the exteriors if not more. Replace any fixtures that need changing. Check on your wiring and plumbing system on the regular. Touch up on paint too as need be. Keep things tidy and ergonomic.
Check where the water is. – Water may seem harmless but remember that it erodes mountains. If left unchecked, it can bring serious issues. Take your gutters and downspouts for example. You’ll have to clean them regularly as leaves and other debris can get stuck in them and cause clogging. Rain water will then fly out from everywhere which isn’t good as it can cause rotting in particular areas of the property. Don’t forget to check your plumbing, irrigation and drainage systems too!
Schedule annual roof inspections. – Your roof is one of the biggest investments you’ll have on your commercial property. Ensuring that it stays in tiptop shape is crucial so as not to suffer serious issues later on which will no doubt be very costly.
Always go for immediacy. – One of the best maintenance tips we can give you for your commercial property investment UK would have to be on timing. The earlier you answer to things, the lesser chances for them to worsen. Plus, remember how often we’re told that prevention is better than cure? Maintenance may require you to dish out cash but keep in mind that replacements will cost you far more.
Buying a commercial property for your business is crucial because it can either make or break your success. All companies need space and more than that it needs an effective area to house its operations. It’s not easy to find the perfect asset in the least amount of time so to help you on such a humongous endeavor, here is a cheat sheet to guide you along.
LOCATION – This is an item that you’ve pretty much heard of again and again and for good reason. Location is after all a big player in terms of business especially in commercial spaces. The more convenient and easily accessible it is then the better. Plus, heavy foot traffic always provides great exposure. Businesses need to be reachable in as little effort as possible so always op for properties situated accordingly.
ONGOING COSTS – You do not want to buy an asset with hefty repairs and maintenance costs as that will surely call for large expenses in the long run. Before closing out on a deal, be sure that you’ve got the numbers checked first.
FEATURES – Depending on your industry and your use of the commercial property, there will be features that you require and you have to make a list of them beforehand. This shall help you target down on the listings that match your needs so you don’t end up wasting time looking around choices that do not fall within your requirements.
USEFUL LIFE – The longer the asset’s useful life is then the better. As the name suggests, this pertains to the length of time by which the property is considered to be functional or useful for its users.
DEPRECIATION – Assets depreciate in value and the lesser the rate then the better it will be. You do not want your property to go zero in just a few years. Plus, it would be best to actually invest in something with appreciation potentials or those that tend to rise in value over time. This is seen in many growth areas and highly sought after locations. Businesses can earn from the capital gains in time should it cease to make use of the property and want it sold.
PRICE – When buying commercial property, you have to make sure that you’ve got the market value validated and all. You do not want to be overspending on an asset that costs significantly less. Always call for a surveyor to get this checked.
If you are planning to buy a real estate asset be it a residential, a commercial or an industrial one, one of the places that you may have considered during your research would have to be property auctions. They are actually a good way to score a deal especially considering that there are assets for which are held up for sale for lesser than their market value. Oftentimes, these are done due to a damp economy, a lack in market demand or the immediate liquidation of a foreclosed property. Of course, not everything being offered falls under such categories.
Now, if you are indeed planning to buy at UK property auctions then you must first learn some tricks from the pros. To do so, read on further.
Don’t believe everything you hear. You must first check and validate. Keep in mind that auctions are filled with agents, brokers and sellers too, each one wanting to land a good deal just like you. However, unlike you who wish to buy at the lowest possible cost, they would want to sell at the highest possible price. You have to be careful because some may sugarcoat, exaggerate or even withheld some facts. Always check and keep your walls up.
Do the asking not the answering. Be the one to inquire not the one to be interviewed. For example, do not by any means divulge or even give a clue as to the type of property and the maximum amount of spending that you intend to make. By being discreet, you avoid anyone from taking advantage. Some sellers will actually match their minimum asking price to your maximum capacity even telling you how lucky you are despite of the fact that the asset is actually valued for less.
Always perform adequate research. Never come to an auction without your weapons. You have to research well about the properties being sold, the terms of the auction and the procedures it entail, the market value of the said properties, their conditions and other important information. You can’t come blindfolded otherwise you are putting yourself at an extreme disadvantage.
Have your finances at the ready. Before attending property auctions, see to it that your resources are already made available. Having been awarded as the winning bidder will entail you to pay upfront with the remaining balance to be completed within a specific time frame. Failure to comply will make you lose the opportunity and everything will simply be in vain.
When one puts their hard earned money on a residential property investment, one wishes to get a return. This is regardless if you want to sell or lease the property or use it for yourself. To do that, you will want your asset to appreciate instead of depreciate. The latter is common and it happens to most assets. Once that has used up the value of your property, it is now deemed worthless and selling it should you need to will not provide a profit any longer. It can either come up with a salvage value or none at all. So how do you avoid this? How can you increase the value of your investment instead? Take a look at the following list and find out.
Keep it in shape.
This means that proper maintenance must be present. Make the necessary repairs as needed. Do not skimp on your regular inspections and maintenance procedures. Remember that the longer you leave damage unattended, the worse it tends to become. Also, prevention is always better than cure. Ongoing costs are part of any property investment and you should do well to provide for them.
Upgrade where needed.
Adding to the property’s value will also have to deal with the upgrades that you do for it. This includes rewiring of old electrical units, repainting walls, changing up dated fixtures, adding plants on the front porch and back lawn and even to the smallest details such as cleaning up the attic and garage. Small or huge, upgrades can turn into a cost that can be capitalized and thus add value to the property.
Be wary of location.
Before buying the residential property investment, take into consideration its location. Add into that the other nearby and adjacent properties, structures and establishments to it. All of these will have a bearing on the value of the asset over time. For example, areas such as huge and thriving cities (e.g. London, Sydney, New York, etc) tend to rise than fall. This is because the demand for assets in such location grows but land as we all know does not multiply. In economics, this creates an upward surge in value. The same holds true for those that are near commercial hubs, roads and highways, educational institutions, shopping centers, parks and hospitals.
If you want your residential property investment to appreciate, keep these three in mind and be sure to apply them aptly. For more property advice visit this page singerviellesales.com
After having made a residential property investment for yourself and/or your family, we’re pretty sure you’d be itching to do some renovations and decorating. We do not blame you because we know that feeling too! To help you out in spicing up your place, we at Singer Vielle, have come up with the following ideas to help you make the home of your dreams.
Paint your walls.
It does not get any simpler than this. Putting on some fresh coat of paint not only adds personality to the rooms but also improves their look. If you are buying a place that has been previously owned and inhabited then some of the colors may already be falling apart or if not, they may not suit your liking.
Create accent and focal points.
Sometimes paint on walls does not cut it. They can appear bland and boring. To help fix that, you may want to make use of a pop of color either with another paint hue or textured or patterned wallpaper. This can be placed in only one side of the room to make it appear like an accent area. It’s actually a pretty neat, simple and affordable way to spice things up.
Add some fresh natural details.
If you want to add more zest, calm and freshness to any room, put in some plants. The best options here would be succulents and air plants as they are not high maintenance. This is good news especially if you are not that good with gardening. If you prefer having blooms then you can opt to have them in a vase instead.
Put a dash of darling with throw pillows and rugs.
This can add both color and texture to your place and not to mention tons of comfort. Who doesn’t like pillows anyway? You can have them by the living room sofa, couches and your bed of course. The same holds true for rugs.
Choose lighting carefully.
This not only creates mood but also provides much needed visibility. Some parts of your residential property investment need more of it than the others. Take your study and kitchen for example. They have to be well lit to ensure productivity but not too glary to hurt the eyes.
Hang some art work.
A residential property investment can be made to pop with a few touches of hung details. They don’t even have to be expensive artworks. Framed photographs and even graphic patterns can do the trick!
They say that one can score some of the best real estate deals out of property auctions. That is true to some degree considering the fact that it is perfectly possible for buyers to end up paying for a property for lower than their actual market values. In the real world, an asset will always be priced at if not more than their current market values. In that case, you need to learn how to be a property auctions champion. To do that, the following can really come in handy.
Run a research.
You cannot simply go out and participate in a property auction without the knowledge and the skill to do so. You need to prepare yourself and research will help you go a long way. Reading this article is good as that would mean that you are researching about the topic at hand.
Allow yourself time to observe.
Attend as many property auctions as you can. You don’t necessarily have to buy a property at first. All you’ve got to do is observe and learn. This way you will be more familiar with the procedures and on goings in the said events. All your theoretical learning and research can only do so much. You have to see how things work in reality too before you plunge yourself in.
Always stick by your limitations.
You will most likely be tempted to spend more than what you initially planned for. Don’t.. That’ll likely end up in tragedy and disappointments. Before you step into the auction haul, determine and set a ceiling spending value. When you place in your bets, remember to never go beyond this limit.
Keep your cards close to your chest.
Never let anyone learn about your set limitation nor your payment capabilities. That can only make agents and brokers to give you a higher version of a property’s price tag. Keep that information al to yourself only.
Check and review the properties.
Before putting in your money to buy an asset, see to it that you had them checked already. Are they really in good condition? How about other factors like ongoing costs, useful life, building conditions, and location among others? Do not believe outright in everything that you are told in property auctions. Remember that sellers want to end up with a sale and no one is going to downgrade their properties here.
In today’s day and age, you’d rarely see people with a single job. Sometimes one cannot suffice especially when you are supporting a family. You’d be surprised to know that there are some people who have three jobs at a time and jump from one shift to the other. It’s pretty tiring and that’s a lot of hard work but it is something that has to be done. After all, we need to live and to do that we need a means to be able to buy our basic necessities. But what if your time does not permit you to take on a part time gig? Or what if you want more time for yourself and your family instead of getting stuck in the office? The answer is through investing your money in real estate assets. To help you do that we have come up with a guideline to winning in investment property in UK.
Learn about the trade. – Just like any other profession, investing in properties and making profits with them is a career on its own. You can even consider it as business. This makes it important for you to learn about it. You can enroll in a crash course, attend seminars or even read on relevant materials to improve your knowledge and skills.
Brush up on your locality’s market. – Where do you want to invest in? When you’ve chosen a place or a number of them from where to get your assets, it makes it a must for you to learn about the locality, its characteristics, features as well as pros and cons. All that and more will affect the pricing and demand for your properties.
Get to know the types of properties available. – Different types are priced differently and will cater to varying customers and clients. You need to know how to strike a deal out of each one.
Always have your finances in check. – Investments in UK properties will require finances. Remember that this type of business although may be able to provide you with huge and promising returns will need a large capital. Keep up with your expenses and make a budget.
Grow your portfolio. – Over time you will add up properties in your portfolio. Make it as promising and sterling as could be. If you need help then call on the expertise of professionals for it.
Know your client base. – Lastly, winning in investment property in UK requires investors to know their client base. You need to know who would want to lease or buy your assets. This way you can best target your marketing efforts to them.