Showing posts with label Real estate economics. Show all posts
Showing posts with label Real estate economics. Show all posts

Wednesday, January 29, 2014

Downsizing – Financial Freedom without the Fuss

As we all know, fifty isn’t the ‘over the hill’ marker it always used to be. Life expectation increases year on year and hitting the big five oh only means that there is every chance you have another thirty or forty years still in you. For many people, their fifties are as big a change as their twenties; families have flown the nest and mortgages taken out in the seventies are, in many cases, paid off. Using the equity in your home to finance early retirement or raising the funds to help your own children get on the property ladder has never been easier.

Downsizing doesn’t just mean buying somewhere smaller. Take the time you need to find a property you truly love in an area that will suit your changing lifestyle. If you still work, consider trading a couple of hours a day commuting time in the short term for the calm beauty of the countryside in later years. On the other hand, if you love the city and want to remain in the hustle and bustle of metropolitan life, luxury apartments in the heart of the city are not just for young up and coming business executives. Whether it is a serviced apartment or a barge docked in a countryside marina; now is the time to embrace your dreams and leave the shackles of the family home behind you.

Take advantage of the expert advice out there; Quick Move Conveyancing has an excellent guide to choosing and finding a dedicated surveyor, and Zoopla has a range of really useful resources on UK house prices and average house prices by area. Using online resources takes the time and ‘legwork’ out of a search that probably took months if you bought your current home more than twenty years ago.

Use your equity wisely; find a financial advisor you can trust – ideally one that is independent and not affiliated with your bank. If you are going to help out children with deposits for their own home, get the paperwork in order. Family trust is all very well, but should the worst happen, it is important that the legal documents are in order. Bear in mind that the UK has laws about cash gifts to dependents and that if death occurs within seven years of a gift of over £250. Research inheritance tax laws properly and thoroughly and draw up the relevant paperwork.

Thursday, October 24, 2013

Brits Keen to Make Home Improvements

Those most likely to get stuck into projects to revamp their homes were consumers aged 35 to 44. Among this demographic, nearly four in five consumers (79 per cent) had enhanced their properties.

Commenting on the findings, Avant Homes marketing director Rob Slocombe, said: “The housing market conditions of the last few years has meant that many homeowners have not had the necessary deposit to secure a mortgage and so therefore have opted to stay in their current property and make improvements to it until they can afford to move.

“This research reveals the considerable investment that is required for such improvements and tells us a lot about what today’s buyers are looking for in a home to make it suitable for their current lifestyle needs.”

By researching the log book loans available now, consumers may be able to realise their ambitions of improving their properties. Meanwhile, taking this approach could have positive long-term financial repercussions. Although they will have to spend money in order to achieve the results they are after, people could succeed in boosting the value of their homes, meaning that if and when they come to sell their abodes, they stand to make money.

For the best results, it is vital that consumers choose reliable and competitive logbook loan providers. By researching companies before making any commitments, individuals can provide themselves with added peace of mind.

Meanwhile, it is also important that homeowners are savvy when deciding which projects to undertake. Certain alterations make particularly good investments. For example, adding space to homes tends to be an effective way to boost their value. There is plenty of advice available over the web if individuals are unsure.

Author Bio: 

Anna Longdin is a freelance blogger who keeps up with the latest trends in personal finance. She contributes to a range of websites, including Varooma.

Thursday, January 24, 2013

10 Money-Conscious Things to Do Before Selling Your Home

The process of selling your home can be very difficult, and is made even harder by the current housing market. While you may not be in the best position to get the highest value for your home than in the past, you can still get a good price and a smooth sale completed by working through a checklist of things that you need to do before going to market; this can range from getting an accurate valuation of your home, through having a marketing plan in place, getting the right professionals to help you sell your property, and making repairs to rooms and the structure of a house. 

1 - Valuation

To get an accurate valuation, you’ll need to check what price other houses in your area have sold for recently - this can be checked with the Land Registry service. You can also look at what the resale value of the land around your property is, and what potential profit could be gained by a new buyer in a few years time. Estate agents can help you to reach these estimates; surveyors are, however, needed to provide a better estimate of your home’s value. 

2 - Having a Marketing Plan 

If selling with an estate agents, discuss with them how they are planning to market your property. Are they using traditional methods like marketing in their shop window or through local papers, or are they focusing on marketing online? Alternatively, you can opt to market your property by yourself online - this will save money, but may take longer than working with an estate agent that knows your local area. 

3 - Getting the Right Solicitors 

In order to sell your home quickly, you’ll need to get the right solicitor for your property - ask around and compare local solicitors. The best solicitors will be able to handle legal fees, draw up deeds, and pay off your mortgage with the proceeds from a sale. 

4 - De-Clutter 

To make your home appealing for visits, de-clutter as much as possible; go from room to room and be ruthless about what you’re getting rid of. Old mobile phones and electronics can be sold for scrap or resale, while bulk boxes of DVDs and books may be sold online for a small profit. 

5 - Make Essential Repairs 

It’s necessary for you to boost the value of your home by making essential repairs - check wiring, fix roof leaks, and clear out gutters. Similarly, replace loose or cracked flooring, and reseal areas of the bathroom that are showing significant wear and tear.

6 - Deep Cleaning 

In most cases, it’s worth investing in a professional cleaning company, who can do the tough jobs that you've been putting off; these jobs might include deep cleaning carpets, and removing tough mold and other damage. 

7 - Have a Moving Out Date 

While it’s important to not arrange to move out and be stuck with your property without a buyer, have some kind of deadline to work to for moving out. This date can change, but should be a motivational tool for the house selling process. 

8 - Fix up the Front of Your Home 

First impressions are important with properties, so make sure that you trim back front gardens, replace rotten wood, and repair any damage to walls or windows before you begin having visits; this shouldn't cost too much money, but can enhance your home’s value. 

9 - Compare the Market 

Keep a close eye on the state of the housing market, as well as what properties are selling in your local area; an estate agent can advise you on how to best approach the market, while maintaining a focus on how the market’s changing online can help you to work out the best selling time and marketing strategies. 

10 - Have a Schedule 

Maintaining and updating a schedule will help you to avoid leaving vital repairs and legal issues to the last minute; have dates lined up for when you want viewings to start, and for when contracts absolutely have to be signed. 

Author Bio: Liam Ohm writes about how your home and your finances are so closely intertwined, from how a Wet Room can be a good financial move to choosing the right solicitors. Having a plan in place is also extremely important and should be the first thing you do when deciding to sell your home.

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