Tips To Build A Custom Home

Building a house from its foundation requires a fair amount of research and planning from the budget to the selection of materials and design features. Choosing a reliable, experienced and modern contractor can ease the process and produce quality results for all clients. Construction of small modest houses to larger grand condos can benefit with attention to detail and a professional guide.

Decorative features you wish to include in the newly constructed property should not be built on-site. Providing contractors with clear instruction and dimensions for rooms and garden can assist in manufacturing cupboards and features at the respective workshop that will cost less than having it created on the property. The number of hours worked on site will contribute to the total bill and must be assessed before providing the go ahead for the contract.

The new home should incorporate form and function to ensure that residents and potential future buyers are satisfied with the layout. Design must prove aesthetic and modern, but provide practicality for current living needs and future requirements. Unique structures and plans may meet with trends and prove appealing, but may not be suitable for others should the house be placed on the market for future resale.

Create a budget and plan for emergencies and unexpected fixtures along the way. Constructing a customized home is not a simple task, but a major and time consuming undertaking that requires additional planning for breakage, insufficient materials, and building delays. It is not advised to remain within a fixed cost that could prove detrimental to finances should a surprise circumstance occur.

Assess the value of modern features that are incorporated as part of the building plan and total expense. It is exciting to add modern appeal with building extras, but these features may not contribute to the investment over the long term. Include construction that will deliver the most appealing results and assist in improving the resale value of the property.

Install high quality flooring with functional design elements including underfloor heating and ease of maintenance. There are many different materials available for custom floors including tiles, hardwood and concrete each offering its own set of benefits and potential limitations. Flooring must contribute to resale value while providing affordable and aesthetic to best serve the practical function and theme of the house.

The success in tailored home design lies in the details of the floor plan created by competent builders offering sound advice and guidance. The transformation of an idea into real construction requires the knowledge and expertise of a certified contractor to support and streamline the development. Research into the plan and the cost for property size are important factors to ensure realistic outcomes.

Custom home design undertaken by licensed and reputable builders offers flexible solutions for the modern property owner. Quality contractors incorporate the latest 3D technology in the development of detailed floor plans including consultation, cost assessments and the submission of council documents. Trusting construction to an expert in the industry can produce modern yet functional results that meet within a specified budget.

The Best Way to Buy Property Without a Loan

The major edge for investing in 2 and 3 BHK flats in Greater Noida is the amazing Infrastructure. Both the locations possess the possibilities of transforming into one of the best deals in the real estate industry. With its contemporary and awe-inspiring infrastructure, one can expect to capitalize in 3 BHK apartments in Noida Extension, without worrying about amenities, space or security. Moreover, the land availability also adds to its convenience. The scope for new constructions has also made Noida’s real estate a burning option.

There are wide number of top-notch real estate developers and builders who have already started participating in launching projects, offering avant-garde lifestyle with all modern requirements.

Another reason that ignites the decision of planning on a 3 or 2 BHK flats in Noida Extension is the fact that all the legal documentations regarding real estate are under the jurisdiction of the Stamps Department. Furthermore, the connectivity has also improved tremendously. Someone planning to shift to the city would definitely not come across any connectivity trouble, as it is well connected to nearby cities. The metro lines have also acted as added boon.

Along with the growth and development of the city, there has also been an upsurge in the number of commercial hubs, educational institutes, corporate offices and more. This has facilitated in enticing individuals from all across to shift and settle down in either Noida or Greater Noida. The relatively affordable real estate market has also come as a relief as compared to the sky-high property rates in places like Delhi and Mumbai. An individual planning to purchase or rent 3 BHK flats in Noida would get better and inexpensive options to choose from, as equated to other metro cities.

Therefore, the connectivity with Faridabad and Ghaziabad, the increase in developments, the Yamuna Expressway and more have all contributed in making Noida the next big thing. With wide array of amenities and strong civic framework, Noida has also seen gradual increase in the number of newly constructed 3 and 2 BHK flats in Greater Noida and Noida.

So, Noida and Greater Noida are good options for property purchase if one is looking for properties at reasonable rates.

Being a planned township, Greater Noida has ample opportunities. With the 23km Express Highway between Noida and greater Noida, wide number of IT companies, accessibility, reputed educational institutes and retail outlets, there has been notable developments within the locality. These have acted as a boon to the real estate industry within the location. There has also been a tremendous pace in the thriving of both residential and commercial properties in Greater Noida. There are many areas within the township with pollution free environment. Therefore, someone wishing to buy 3 BHK flats in Greater Noida West can now have an option to pick from the best options within the hamlet.

Noida does not just provide for new buyers, but also accelerates many real estate companies.There are wide number of real estate companies who have their respective database of innumerable projects and aspiring investors. There are many companies who operate from the site itself and organize diverse make-shift kiosks from where the entire business is operated. Furthermore, these companies also offer stress-free terms such as re-selling properties, etc.

Build The Home of Your Dreams With a Construction Loan

With the current economy trend setting low real-estate prices, many assume that buying a used home is worth every dollar they fork out. Others engage in apartment loans, thinking of it as hitting two birds in one stone: having your own home while gaining some extra cash through rental income. While these are all very good strategies, some families opt to get a construction loan and build the home of their dreams.

Although it might sound difficult, building your dream home is possible, provided you understand how a construction loan works. Presently, the construction-to-permanent loan remains the most popular option. This loan encompasses full lot and construction coverage, and even converts to a mortgage the moment your dream house has been established. Once you’ve laid down the down payment, all you have to do is make interest-only payments at a fixed interest rate. And after the construction has finished, the loan will be transformed into either a 15-year or 30-year fixed rate mortgage.

Certain banks will dish out interest reserve accounts that allow you to make interest-free payments throughout the construction process. The bank will calculate the amount of interest-only payments and add the total amount to the overall loan. Funds will be deposited into a different account, which makes this ideal if you currently have pre-existing mortgage or rent payments on your plate. The licensed contractor you’ve hired will then mete out a ‘release schedule’ that details the monthly construction schedule with the necessary funding in tow.

Once you have determined that one of these new home construction loans suits your tastes, then there are five quick steps to set you off on the right track:

1. Know your Affordability Limits

You need to determine how much of the total loan you can afford by using an online loan calculator. Remember that you need at least 20% of down payment to avoid PMI payments.

2. Find Lenders

Compare the current loan rates from online lenders and local banks. Ask a reputable building contractor for past lenders they’ve worked with, and attain their contact information.

3. Attain Pre-Approval

Skim through the pre-approval process of each selected bank. Outline the closing costs and estimated tax rates. Ask for a copy of a pre-approval letter.

4. Find a Contractor

Settle on a reputable contractor that is licensed, insured and has experience in constructing new houses. Figure out a budget plan, building cost and architectural schematics to get your house project underway.

5. Select the Land Piece

Hire a reputable realtor to identify a suitable piece of land in line with your budget. Verify any attainable building permits from your local municipality, and make sure a septic and water system is readily available.

5 Tips to Find Home Builders That Are Worth Investing

When planning to build your dream home, one of the first consideration is working with a qualified and experienced contractor. Choosing a home builder may be one of the most important decisions of the building process. Basically, there are three most popular types – the high-end custom home builder, the production builder, and the small builder. The trick lies in identifying which one is the perfect match for your requirements.

Here are a few tips designed to help you find best contractors to build your dream home:

1. Plan in Advance: To get the results of your choice, planning beforehand and knowing what exactly you want may help a lot. It may also involve deciding on whether you need a specialist or just a general contractor. This will also help you communicate with your builder in the best possible way as you know your requirements as well as limitations. Also planning on what services you expect from your builder such as the warranty period, record of dealings, and post delivery services can help getting the best results.

2. Research for Reputed Firms: Once you are aware of what exactly you want, you may consider going through the newspapers, journals, advertisements and online portals for more information. Searching for reliable home building companies through surfing online and registering for electronic messages can be of great help. You may also consider visiting seminars and home shows to get to know about some experienced as well as new home builders.

3. Ask Questions: After finalizing on certain home builders, assessing them to make sure they meet your specific needs can prove very beneficial. In order to assess them, you may consider asking a few questions such as how many years have they been in business, are they licensed and insured, what unique features they offer, can they custom build or change current designs, what type of material they use, how long the entire process will take and prices etc.

4. Do A Quality Check: Looking beyond the photographs and checking the quality of materials can help you make sure that it is worth investing. This may also require both research and site visits to have a clear idea whether or not the home builder holds a good previous record. You may also consider showing interest for any awards or recognition the company has got for providing outstanding quality to its clients.

5. Be Specific: Having things finished on time and within budget sometimes requires you to be specific. Keeping everything clear with your builder and having the structural calculations done by an experienced engineer can prove beneficial. Keeping an eye on who is going to supply the things like hardware, faucets, tiles, and other accessories, is good for your project. Being specific regarding what you need and how you want things to be done helps in long run.

Finding the Right Provider to Create the Home of Your Dreams

Finding the right customer builder to work with is essential. Otherwise, you risk delays and frustrations. It can also prevent you from living in the home you really wanted. There are plenty of experts out there with the ability to create just about anything you want. Don’t be in a hurry to settle for just anyone to tackle something so important!

Referrals

Ask around for referrals to aid you with finding the best custom home builder. People love to share details about such experiences. You can also look online to find out who provides such services in your area. Once you have a few referrals, schedule a time to talk to them in person. Get an idea of who they are and what they are all about.

Find out how long they have been in business. Ask about homes they have built and where they are located. They may have pictures to share with you of the finished projects. The more you know about them, the easier it is to decide.

Details for your Home

A custom home builder realizes just how important this project really is for you. They want it to go smoothly and they want you to get the best results. They are going to sit down with you and walk you through the various steps. This will help you to see how it is all going to progress. They can share with you floor plans they offer if you don’t have one in mind. They can also help you to create one if you don’t like what they have to offer.

It isn’t uncommon for a custom home builder to know where available land is in the area. You may be able to save money with a land/home package. If you don’t already have land in mind, they can help you to find something. If you already have land, they can take a look at it. There may be costs involved to get it read that you aren’t aware of.

For example, it may need to be leveled before the foundation of a home can be placed on it. The home may need to have water and sewer lines ran to it. You should feel confident the custom home builder knows everything to ask about and check out so nothing is overlooked. Their information can help you to make important decisions.

Building Process

The amount of time it will take to get the project completed depends on many factors. The custom home builder can discuss with you when they can get started. They will have to order materials, obtain building permits, and more to get started. They can give you an estimated completion date. However, there are variables such as the weather and inspections too.

They can cause delays and there is nothing to be done about them. Make sure you can be flexible with them and give them the time they need. While you want to move into your newly designed home as soon as you can, you also want to make sure everything is done correctly before you do so. Finding the best contractor to help you get it all done is very important!

The Home of Your Dreams Is Possible!

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.

It is important to us for you to have the home you really want. We hold ourselves to very high standards so you can get the best possible results. We have the experience to create an amazing home for you. Working with us, we can help you to design it and to ensure everything is taken care of. Safety is a top priority for us and we ensure all building codes will be followed every step of the way. We are selective about who we obtain our building materials from. We only use the best quality products so your home will look amazing when you move in as well as down the road.

Should Long Term Real Estate Investors Focus On Cash Flow or Growth?

There are really two sides or two strategies to this debate. I lean one way for sure and will explain why but, I am also open about this and understand that other people have goals and strategies that differ from my own. In this article I want to briefly talk about both strategies and then give you some ideas to expand what you are trying to accomplish.

I want to define a long term investor as someone who is purchasing real estate with the strategy to hold onto it for at least 5 years but in most cases much longer. This is a great way to grow wealth and although it can be slow, it will guarantee financial freedom if the strategy is done correctly.

When we discuss lending the staple in the industry is the 30 year fixed rate loan. The advantage to this loan is that your principal and interest payment will remain constant for 30 years even though rents should increase. This loan also comes with the lowest payment in the market helping you to maximize cash flow. I put 30 year loans on my properties whenever possible. (This becomes more difficult as you get more properties which might be a topic for a different article). I like the cash flow because it gives me control and I can choose where to invest it.

The disadvantage to a 30 year loan is that it takes 30 years to pay off the house, assuming you make the minimum payment. If you are a believer in paying off your rentals then a shorter term loan might be a better strategy and will give you the discipline to actually do it. Because interest rates are important to a lot of investors it is important to know you will get a much better rate with a shorter term loan.

My personal belief is that if you are leveraged on your properties you can buy more properties and more properties create more cash flow and more growth. It is the best of both worlds. This is true only IF you are buying quality deals and have reserves and plans in place for the unexpected. As many of you know when I started investing with my wife we would leverage as much as we could and we purchased as many houses as we could. Needless to say that back fired and we lost almost everything. I share this because I want you to know that I understand that leverage creates additional risk. However, if you are purchasing properties that cash flow AFTER vacancies and maintenance there really is not much of a down side.

As you can see I am not a fan of paying off your real estate when you are in your growth strategy period. I believe this strongly for several reasons and have been quoted in major publications sharing my view. I do, however, think you should start paying them off as you get closer to retirement or when you are in a position that income becomes more important than growth. I also understand that many people have a different risk tolerance than me.

There is one thing I want to caution you about. I would not recommend purchasing property on speculation. Again, we learned this the hard way. If you purchase for cash flow, whether you choose to pay off the property or not, you won’t get hurt. If you cash flow and the house decreases in value, you keep it and enjoy the cash flow. If it goes up in value… well, you either keep it to enjoy the cash flow or you can sell it and take the cash. Don’t get caught up on any of the hype. In Denver the big thing right now is the light rail expanding North, West, and Northwest. Several new lines going in could of course increase the value of real estate, but that is speculation and if the market turns or the lines get delayed you could suffer.

In my opinion, if you are trying to grow your money quickly and are less concerned with the income, you should purchase as many properties as you can, especially those of you in Minnesota. Inventory is not as tight as other parts of the county and it is still easy to buy rentals with no down payment. To purchase as many properties as you can you need to leverage as much as you can.

I want to close by sharing one last opinion. Although I am a strong believer in leverage and being smart about it, I understand that it is not always the best way to go. In Colorado specifically, there are not many deals. Travis, Justin and I talk about this frequently. We all want more deals in Denver but cannot find them. If there are limited deals in the areas you want to buy, you need other investment vehicles to put your money. For some that is investing outside your area, which is what I am doing and for some it is paying off your loans, which I am also doing. If you want to buy more but cannot find the deals, by all means focus on paying off the loans. That is much better than leaving your money in the bank doing nothing.

Your Big Why and Planning the Future

A while back at an event I got the opportunity to sit across from a couple of brand new investors. As I usually do, I asked them what they were investing in; they admitted that they were newbies and weren’t really sure where to begin. We discussed their level of knowledge and expertise, and I found the conversation drifting away from real estate and more into the lifestyle design arenas. I started asking them about their “Big Why” – why were they wanting to leave their corporate jobs, what they wanted to do with their time, and what would make them happy.

We started putting a dollar value to that lifestyle and level of comfort. I saw their eyes get a bit wide as the reality of what they were up against hit them. I quickly reassured them that real estate was a great choice to attain the lifestyle they envisioned if they were willing to work hard and put in the hours, but how? We didn’t get into too much detail on the spot, but we talked about breaking those big goals down into time frames and smaller milestones. We discussed assigning how many and what type of deals could get them to those milestones, as well as what were they comfortable doing and how their personalities would help them to achieve their goal. They made notes on what types of marketing and how many offers they would have to make each month, week, and day in order to acquire the number of properties to hit their goals.

We then went back to their “Big Why” and discussed if it was really big enough. By that, I meant to talk to them about whether their choice to pursue real estate would be big enough to get them up and out of bed every day? Big enough to push them to tackle that daily task list? Big enough to hit those smaller goals knowing that as each milestone is hit that they are that much closer to the lifestyle and freedom they want? They made some more notes, and I think they had some talking points to consider as they pursue their real estate vision.

So what is your “Big Why”? Why are you a real estate investor? Is it big enough to get you out of bed each morning with a smile on your face, ready to face the day? Is it big enough to motivate you after 3 months of busting your butt without finding the right deal? This isn’t something you can come up with overnight if you haven’t spent any time on it already, so let your mind wander. Dream big! Dream really big and write it down. Look at it every day and see yourself living that lifestyle. Then break down how you will get there. Get really specific, all the way down to daily tasks. Now you’ve put goals and milestones on paper and you have created a map showing you how to get to that big dream and lifestyle you desire.

To be honest, this isn’t easy. The dreaming part of this puzzle may be easier than identifying the “Why”, especially when you analyze and determine if your “Why” is a solid vision to which you can remain dedicated. Nevertheless, I promise, if you work hard to identify the “Why”, develop your vision, and stay focused, you will be set up to achieve the vision you set for yourself.

How 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.

Tips To Get Your Search For Homes For Sale In The Right Track

Buying a house is a major financial decision that will not only give you a peace of mind, but also a wonderful place to live, and of course, the perfect location to start a family for those who are planning to settle down. Sooner or later, you will have to decide to settle down on your own home that will be considered as the best location to start a family.

That being said, it is important to greatly consider the factors that will affect your everyday living experience. The following tips will help to get your search of to the right start. While it is important to note the number of rooms, the size of the yard and the layout of the kitchen, there are several important things you need to consider before making an offer.

Avoid trying to time the market

– Trying to time the market when you are planning to purchase is impossible. Considering whether the market drops low or gets too high will only prolong and possibly make you lose your chance of owning your perfect house of choice. The best time is when you find the best one that you can afford. The real estate market is cyclical, and waiting for the perfect time will only make you miss out on an opportunity.

Location

– Proximity to essential establishments and the surrounding people can give great impact in your living environment. You can overlook a couple of imperfections in a home if you love the neighborhood and neighbors. As most would say, three of the most important factors in buying a home is location, location, location. When choosing, you need to consider its proximity to your work and other essential establishments, environment or the neighborhood, and public transportation.

Inspection

– Of course, you will need to check everything out inside the house. When you have finally narrowed down your list of choices, it’s time to hire a home inspector. It may cost a little but in the long run, it will end up saving you thousands. This will help you gain the best information regarding the new home so that you can make the best decision as to whether or not take it.

Situation factors

– One important thing to note: when buying a home, you can easily replace furniture, and other things inside however, you can never change the location. This is why it is important to also check the situational factors. Is the location suitable for kids, pets and gardening? Do the neighbor’s window look directly to your home? Has the driveway elevation properly installed for safe access to the property?