Handy property guide to finding your new home

Posted by katie George | Real estate | Saturday 27 December 2008 4:23 am
by katie George

Let’s be honest – buying property could hardly be described as a “fun thing to do”.

With often months of delays, legal complications and expense, it seems as though hassle and annoyance has been built into every stage of the process. But actually you can make it easier for yourself with a little insider knowledge.

Use this handy property guide to solve the first and biggest problem to overcome: finding the right home.

At any one time there are hundreds of thousands of houses on the market. The choice might seem overwhelming, but as you’ll know if you’ve ever bought property before, there’s one house out there that’s perfect for you. You’ve just got to find it.

Use one of these five main methods to hunt down your dream home.

1. Internet

A great place to find houses. When you are looking for a website, find one which is packed with useful features to help you learn more about a property and its local area before you commit to viewing it. For example, does the website show you where the nearest schools are, or how long it will take to get to the local Post Office or shops? A website with tools like this is essential for home hunting in an area you don’t know.

2. Local newspaper

The papers are still great places to see properties from a specific area. Many papers come with thick property guide supplements which make browsing for properties quick and easy. And you can easily see all the properties currently for sale with specific agents. If you are moving to a new area, search for the newspaper on the web and use their online property portal. Alternatively ring the paper and ask if you can pay to be posted their property guide for a few weeks.

3. Estate agents’ windows

Agents tend to be clumped together in specific parts of town, making it easier for you to get round them quickly. It’s always worth popping into the offices. Not only will they have details of properties that have just come onto the market, but good agents will also give you a hint of homes that they think they will get instructions on soon. And they can take your details to alert you when these homes do go up for sale. In a way you are making their life easy – the estate agent is there to put buyers and sellers together.

4. Estate agents’ boards

If you have found the area you want to live in but not the right property yet, then boards will be your best bet to spot a house before anyone else. It’s not unheard of for prospective buyers to watch a board go up, quickly phone the agent, and get the first viewing within a few hours. Estate agents’ boards also tell you useful information about an area. If a large majority of houses are up for sale – why? Do some local research in nearby streets to find out the gossip.

5. Property auctions

The last tip from this property guide is about a quicker but scarier way to buy a home. Houses are often sold at auctions, just like most other goods. But of course it’s a much bigger sale, and the financial implications are huge if you accidentally buy a house that needs a lot of work. Ensure you fully do your homework before you bid at auction. And get your finances sorted out, as you will be expected to pay a 10 per cent deposit on the day you win an auction and the remainder within just 28 days.

5 Proven Real Estate Tips to Succeeding at Fixer Uppers

Posted by katie George | Real estate | Saturday 27 December 2008 4:12 am
by katie George

Now that you’re a bit more familiar with the dynamics of investing in fixer uppers, you are probably itching to make your dreams a reality. Well, Congratulations on getting closer to your goals. In this brief article, we will provide you with not one but 5 real estate tips to succeeding at fixer uppers that you can use right now to skyrocket your fixer upper profits. Are you ready? Well, let’s get started.

First of all, you must have a realistic goals and a written plan to succeed with fixer uppers. By having set goals and a written plan, you will be better able to achieve your success. For instance, it isn’t just enough to say that you want to own some fixer upper properties within 5 years, you must be more specific. For instance, you have to say, “I want to purchase 5 fixer upper houses in the next five year by working a part time gardening business and reinvesting all of my profits into my real estate venture. I will purchase my first fixer upper property within 1 year and 4 more properties each year thereafter.”

Second, you must put in the necessary education. Although investing in fixer uppers sn’t exactly difficult, it does take a bit of knowledge about finances, real estate properties, current market conditions, real estate selling and closing prices, etc. In addition, you must be familiar with the various different types of fixer upper properties you can own as well as financing options.

Third, you have to stay focused on your goals. Yes, you will experience some temporary setbacks while investing in fixer uppers and you will have to put forth a bit of effort to make your real estate dream come true but you can do it if you stay focused on your future, use proven tips from other fixer upper experts and execute your plan. Once you do this, you will succeed in your fixer upper investment efforts.

Fourth, you have to find the fixer upper investing approach that works for you and be persistent with that particular method. For instance, if you’re an expert rehabber then you might find that you enjoy purchasing fixer upper properties that need a bit of work and then flipping then. However, if your goal is to secure monthly income from your fixer upper properties then purchasing a small apartment or house in need of repair, fixing it and then renting out, might be your better option.

Fifth, surround yourself with positive people and develop a fixer upper investing team. This way, you’ll be able to capitalize on everyone’s strengths to maximize your profits. For instance, you’ll need a fixer upper renovation team, mortgage or bank broker, real estate agent, etc.

In conclusion, investing in fixer uppers can be extremely fun and exciting. However, if you truly want to be a successful fixer upper investor , you must have an individualized plan, set and stay focused on your goals, find and implement a real estate investment approach that works for you and secure a good team. Once you do this, you will become a successful fixer upper investor and can make your real estate dreams come true.