Archive for August, 2010
Investing In Real Estate And Overcoming The Fear Of Money
For those investing in real estate you may find that there are several unknowns that have to be accounted for that are related to money.
This investment relates to both home owners as well as those involved in the real estate business. There are several common fears that are related to money in real estate.
One of the major problems that are part of real estate investing is taking risks.
If you are investing in a property to own a home you will have to take out a loan. If you are unable to pay taxes or the loan at any time you will be at risk of loosing the home.
This can cause several levels of fear to occur which may lead to the wrong loan being purchased for security. Knowing how much risk you are willing to take with your loan will define what type of loan you should get.
Another common fear factor with money is in relation to investing in a property during the wrong time.
If the economy is at a low or if the market price is not good investing in a certain property may mean a loss. This is a risk factor that many real estate companies will decide to take in order to sell a home.
When deciding if this is a good investment or not requires some risk and can cause fear if you are unsure about the economy and sale of the home.
Money in the real estate business means taking risks. Whether you are a home owner or are in the real estate business there will be several times where you will have to determine logical decisions without knowing if there will be money to back up the decision.
It is important to acknowledge these fears so that certain boundaries can be set in relation to them.
This means that you know when you are going too far with a purchase or investment or when the fears are holding you back from making the right moves.
By knowing the financial details of a home purchase you can move past your fears and make the right investments.
About the writer: Don Conrad is the author of the book How to Find Quality Tenant. His website at www.findthatqualitytenant.com is dedicated to educating and improving the landlords tenant selection process. This website contains educational articles valuable links free reports a list of landlord associations monthly tips a Fair Housing Test and much more.
Interesting Statistics To Consider When Investing In Irish Property
It is always worthwhile to know something about the history or demographics of a local housing market before considering making an investment. The Irish market is no different in this respect. In fact one could argue that the rapidly changing face of the Irish economy demands that the investor/housebuyer or renter should pay heed to some interesting and fairly unique statistics related to Irish home life.
1. Population Density
- 21 of the population of the island of Ireland lives in Dublin making the city areas in particular very congested. Relatively speaking house prices are the highest around Dublin yet plot sizes are at their smallest meaning that you get much less space for your money here compared to the remainder of the island. However many Irish employers are based in Dublin so some housebuyers may have little choice but to make a purchase close to Dublin city.
- A further 18 of the population lives in the northern counties of Antrim and Down influenced by the locations of some larger towns and the city of Belfast in particular. Whilst being busy areas these large counties do not feel overly congested in the main. House prices generally give much better value for money than typical Dublin properties.
- If we dismiss the influence of the inhabitants of the remaining larger Irish cities e.g. Cork Galway Limerick then the greater majority of this large island has typically less than 2 of the overall 6 million population living in each of the remaining 29 more rural counties. If relative peace and tranquility in a countryside home setting are your desires then about 85 of the total area of Ireland can still provide this much treasured commodity.
2. Housing Density
- Half of irelands 32 counties can boast having less than 15 houses per square kilometre on average. In five attractive counties Kerry Mayo Donegal Leitrim Roscommon statistics prove that there are 10 or less existing homes per km on average making most areas outside of the towns and larger villages appear comparatively deserted by most European density standards. County Fermanagh is Northern Irelands least densely developed county with 12 dwellings per km overall.
- By comparison on average there are 456 homes squeezed on to every km in County Dublin.
3. New Houses just 15 years ago in 1993 there were 21000 new homes built in the Republic of Ireland. Year on year since the prospective buyer has had a greater choice of new houses and apartments to select from. Incredibly last year saw the annual amount of new homes coming on to the Irish market rise to over 100000.
4. Housing needs whilst there has been a general increase in the size of new homes built with 3 bedrooms being the typical sleeping provision offered the number of people living in each house on average has fallen significantly. Forty years ago 4 people sharing one home was the statistical norm. Nowadays maybe influenced by the higher availability of apartments the statisticians tell us that the average home occupancy is just 2.8 persons.
5. Types of Homes 88 of Irish residents still prefer to live in traditional houses rather than flats or apartments. Roughly half of these 43 enjoy the benefits of living in a detached home. In rural locations newer homes are commonly built on plot sizes of typically a halfacre giving generous space for car parking gardens patios and childrens play areas.
6. Buy or Rent? in 2006 the number of occupied dwelling places in Ireland had passed 2 million. In these homes 20 of occupiers thats 1 in every 5 had chosen to rent their property rather than buy it outright. The more expensive city areas and Dublin prices in particular have greatly influenced these countrywide statistics. Also in 2006 the average weekly outlay for a privately rented Irish home had passed the 200 mark.
7. Occupancy Vacancy Stats the 2006 census in the Republic of Ireland concluded that 15 of homes existing at the time were unoccupied. That could easily translate into the amazing statistic that 300000 houses cottages or apartments remain vacant. As these figures come from a period before the current housing market slump the investor or tenant should take note and not pay over the odds with so much availability to consider. Over 200000 extra new homes have been built in Ireland in the last couple of years. The property vacancy rate has probably increased accordingly contributing to the sudden but not unexpected end to the Irish housing boom.
8. Buy to Let for the first time in many years average Irish property rents began to fall in the first quarter of 2008. This is good news for prospective new tenants but not so good news for landlords. When one considers the quantity of vacant existing property crying out for a paying occupier there is little prospect of rents rising again in the short term.
About the writer:nbsp;nbsp;Written by : Susan Salkeld
Owner of www.Propertysteps.ie
Indianapolis Real Estate – Attached Garages
When you are looking to purchase Indianapolis real estate you have plenty of options about your new home. One thing that you need to consider is the location and condition of an attached garage. There are some that see a garage as an attachment to a property; it is still considered a part of your home. An attached garage is something that should have heavy consideration when making your choice to purchase a home.
Look to see if the garage is question is attached to the home. This is the preferred method because it is easy to keep them heated and they provide a quick access to the home during the winter season. Indianapolis real estate gets its share of the winters and storms of the Midwest. Having an attached garage can come in handy for those bitterly cold days. A lot of homeowners cherish that because they don’t have to go outside of their home to enter.
Attached garages allow people to add on to their home in different ways that can be fun and interesting. There are many people that realized that the value of their Indianapolis real estate increases when they make additions to the roof of their garage. They may figure that the roof would be a good place to have another bedroom bathroom or a play room. Adding more rooms would be a surefire wary to add value to your home. Having an attached garage provides the potential for you to do that.
You must also think about the cost of keeping an attached garage insulated. There are many owners of Indianapolis real estate that know about their garage sucking up a lot of heat in the winter months. Having good insulation is important when you have an attached garage. You can save money on heating costs if your roof is connected to the attached garage. You would save money by reinsulating the whole roof section of your garage.
With an attached garage you must be concerned about having adequate power. Since there are modern amenities rest assured Indianapolis real estate property will sell. It’s nice to have electricity in your garage so that outlets can be installed. There are some homes that have their circuit breakers in the garage for safety reasons. In addition to that if you have electricity in your garage you will need to have lighting in there as well.
Check out what kind of walls you would like to have in your attached garage. You will need to set up space to shelve tools and other things you would like to keep in your garage. The most used kind of wall is flat drywall. Or you can choose to have pegboard. A good thing about garage walls is that they can be changed when you want them to be. With Indianapolis real estate a garage is a solid enhancement of your home.
Since having an attached garage is very important you should strongly consider having one for your home. As you’re looking for Indianapolis real estate you should also take into consideration how the interior of the garage looks. Get some ideas as to what you want to do with it in the future. Make sure that it’s the kind of garage you want with your home.
About the writer:nbsp;nbsp;As a Managing Partner of Regent Global Funds a private equity and debt fund Dominic Mazzone brings a track record of success and innovation to his current position as a fund manager with his experience in the real estate and lending business. His experience in real estate led him to being responsible for maximizing revenue through strategic bestuse practices as well as property rehabilitation in a portfolio of investment properties within the U.S. Dominic has been involved with development projects throughout the U.S. including California Arizona Florida Kansas and Hawaii and is currently part of a consortium of investors in Scottsdale AZ developing an 80acre site for an exclusive enclave of luxury homes overlooking the Estancia Golf Course. Dominic had his start in the lending business underwriting loans in Canada on properties that were precluded from conventional financing. This led to similar lending opportunities in the U.S. and the eventual formation of Regent Global Funds in Chicago.Formal education includes Mesa College in San Diego and the University of Southern California in Los Angeles.Dominic is a general partner of Scottsdale Partners LLP which is involved in real estate development in Scottsdale AZ as well as Waikoloa Partners LLP a syndicate of real estate investors in Hawaii. Dominic sits on the advisory boards for the technology companies Voice Cloud and Nile Source Outsourcing.
