Posts Tagged rent
Self Storage Facilities: Practical Solutions While Renovating
Posted by admin in renovation on January 4th, 2012
Are you renovating your home and are anxious about the looming problem of storing your household goods? Space for a growing family or time a new look may lead you to go in for house renovation or remodeling. This requires shifting and packing up your house and then the headache of storing it all safely.
Self storage facilities are the answer to your problem as they provide you with a convenient storage facility with a variety of storage units of different sizes. The advantage of these storage facilities is that you only pay for the time that you utilize its services. The easy 24 hour access and round the clock security takes a weight off your shoulders when you are in the process of renovating your house.
Organizing, packing and piling the boxes may make room in the house but you need to protect your furniture, appliances and valuable collections once the work gets going. Security and handling of house hold goods and furniture becomes a major issue of concern as your precious collections, valuable antique furniture and household goods cannot be left at the mercy of renovators and construction workers.
With many different self storage facilities available in your area, you can check them out and pick the one which suits your requirement for safe storage.
How can you evaluate self storage facilities?
Some points to consider when choosing a safe and secure storage unit to hold your household goods and treasures are:
Climate controlled storage units
This is essential to protect your furniture and valuable collections from mildew and fungi, during the storage period. So evaluate the ventilation and climate control features. Will you have control over your storage environment?
Insurance
Does the self storage facility provide you with insurance or do you have to buy a separate insurance cover? It is best to check before signing the lease deed. They might have stringent security but may not protect your goods against fire, floods and natural disasters.
If you want to store precious heirlooms and valuable collections, its best to go with a ultra modern self storage facility with state of art security systems. But if you only need to store house hold goods while renovations are underway, you can go for a less expensive self storage unit offering normal security options.
Moving facilities
Before packing and stacking, it is better to check with the self storage company about their moving facilities. Most of the self storage companies provide for cartage and moving trucks, so you may even be able to negotiate a discount.
It is better to be prepared while packing and organizing your belongings inside the self storage unit.
Handy tips for organizing your valuables and boxes in a self storage facility:
Judge your storage requirement and discard your junk:
You need to sort out the essential items that need storage and throw out the junk so that you rent the space for storing what you really want to keep. You will save money by renting out less space and then time when you resettle the house.
Packing and storage inside the storage unit:
Put the heavy unbreakable items be on the floor and pile up the fragile items on the top. Disassemble and store large furniture and appliances to save on space. It is better to store goods in completely covered locked boxes to keep them away from dust and mildew.
As renovation might take some time, it is better to have everything safe, stored and out of the way. After the renovations are done, just arrange to get back your boxes put your home back together again.
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New Canadian Home Renovation Tax Credit
Posted by admin in renovation on December 25th, 2011
The Canadian government revealed on January 27th, 2009 a temporary Home Renovation Tax Credit. This renovation credit will apply to work done on houses, cottages and condominiums owned for personal use, and projects can range from finishing a basement to remodeling a kitchen, to painting, to laying new sod. This home renovation tax credit works as follows: Homeowners can get a 15% tax credit of up to $1,350 for renovations that exceed $1,000 up to a maximum of $10,000 worth of work or materials. The renovations must take place and be completed between January 27, 2009 and January 31, 2010 to be eligible for this credit.
Under this $3-billion program, you may choose to hire a contractor or to do the work yourself. However, contractors must be registered for the GST so you cannot hire friends or family members. The Canadian government estimates that over 4 million families will take advantage and benefit from this tax credit.
The Home Renovation Tax Credit was created to encourage Canadians to spend now to help create jobs in industries typically hurt by an economic downturn.
“These measures to support home construction and renovation will help stimulate our construction and building-supplies industries,” Federal Finance Minister Jim Flaherty said in his speech.
The tax credit will apply to a variety of home improvements, such as renovating a kitchen, bathroom or basement, new carpet or hardwood floors, building an addition, deck, or fence, installing a new furnace, painting the inside or outside of a house, or laying new sod. Expenses such as building permits, professional services, and equipment rentals are also eligible.
The cost of purchasing furniture, appliances, electronics, or construction equipment do not apply. Routine repairs and maintenance will also not be eligible for the credit.
Remember that the Home Renovation Tax Credit can be used in conjunction with other government renovation programs. For example, if you plan on making your home more energy-efficient, you may qualify for grants of up to $5,000 under the ecoENERGY Retrofit Program. In addition to this $5,000 grant, you will still be able to claim these renovations under the Home Renovation Tax Credit. The same is true for eligible expenditures that are claimed under the Medical Expense Tax Credit.
Here are some tips if you plan on hiring a contractor to do the renovations for you. Please make sure that your contractor is licensed and ask them to show you their license. Ask for references. A good contractor will be happy to provide you with a list of references as well as pictures showing the type of work they have done in the past. Get more than one quote and get them in writing. The quotes should outline exactly what will be done and how long it will take. Just remember that the lowest quote may not be the best. This contractor may be cutting corners. Ask to see the contractor’s certificate of insurance. A standard insurance would cover worker compensation and third-party liability for everyone on the job as well as damage they may cause. If the contractor does not have insurance, you may be held liable if case of an accident.
Happy 2009 renovations!
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Split Level House Renovations
Posted by admin in renovation on December 24th, 2011
The most popular Split Level house renovations are projects to finish unfinished or partly finished areas, opening up the main floor, updating the kitchen, adding bathrooms to the main (formal living area) floor and to the upper level (bedrooms area).
Many people want to create more openness in the main floor of a split level, which usually consists of living room, dining room, kitchen and possibly a bedroom. Openness can certainly be achieved by removing some of the walls between rooms. You will need to be sure you know which walls are load-bearing walls. For example, you might want more openness between the kitchen and the dining room. Either removing the wall or replacing the wall with a counter will open up the area and feel more spacious. Removing the wall between the living room and dining room can also open up the area and make it more conducive to entertaining.
It is not uncommon for split level homes with four levels to have an unfinished bottom level. Finishing this area is really no different from finishing any basement. It will be important, however, to check on ceiling height early in the planning stages of the project. A number of split level homes have lower ceilings on the bottom floor.
The desire to add a bathroom to any home is quite common. Split levels often offer two important opportunities for bathroom additions. First, most split level homes were not built with a bathroom on the main (formal living area) floor. Many homeowners would like to add at least a half-bath or powder room on the main floor for the comfort and convenience of guests or for elderly or disabled family members. Determining the location of the new bathroom is a challenge in most split levels. Logic and cost-consciousness would suggest locating the new bathroom near (next to, above or below) existing plumbing. This allows you to use existing supply and removal pipes. Depending on the floor plan, however, this might not be workable. Location of pipes to a new bathroom on the main floor will also require some attention to the ceiling height of the floor below (if there is one). If the lower level has typically lower ceilings, placement of plumbing might depend upon where you can run pipes without making the lower level unusable. You can get a quick estimate of the cost to finish a split-level homes basement at www.remodelestimates.com.
Adding a bathroom on the bedroom level is also a very popular renovation to a split level. Many split level homes have only a shared bathroom on this floor. Other designs include a very small master bathroom. Whether your remodeling plan involves adding a second bathroom or enlarging a master bathroom, it will be necessary to sacrifice space somewhere on that floor. Again, you will probably want to try to build the new bathroom close to existing plumbing, if possible to reduce the amount of work required and to control the cost of your renovation. Enlarging a master bathroom in a split level will almost certainly require taking space from the bedroom. One solution might be a bump out or add an addition that spans both the bathroom and the master bedroom. The key to success for remodeling projects is to be organized — try getting an organizer like the one at www.remodelingorganizer.com.
Although split level home designs present some unique challenges to remodelers, with a creative eye to design, careful planning, and attention to detail, most of the changes you might want to make are possible.
Copyright 2007 by ABCD Publishing
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Property Renovation - What May Need Doing
Posted by admin in renovation on December 21st, 2011
Have you bought a property at auction in need of renovation or purchased a property for business purposes that needs renovation, if so you might need the assistance of professional property renovators.
Property Renovation covers a wide range of activities, from structural repairs and new building work to converting a property into a house or business premises or even a set of apartments to refurbishment of the property all with the intent of renovating the property to the very highest standard. Once the property renovation has been done properly by the professionals you are likely to add considerable value to the property, which is what property developers are after of course.
Many property developers nowadays are buying a large house or warehouse and converting it in apartments. Apartments are great for first time buyers they usually cost a little less than a house and gives first time buyers the opportunity to afford to buy or rent somewhere as well as without the stress of looking after a garden. Selling or renting apartments can make a property developer a lot of money if they put the property on the market at the right time and right price. Of course with apartments you get to sell or rent each one individually usually making more money than just selling or renting one whole property for one price.
You may have a property that needs gutting before any renovation work can start, this may seem like a simple job whacking walls down, stripping walls but it can take time and a lot of energy and if you don’t have the time yourself or want a quick turn around the best idea is to get some professional renovators who can come in and gut the property before any other works starts. It’s not only gutting of the property that may be necessary but the installation of new electricity, water or gas systems may be necessary.
After the property is gutted, the areas that may need renovating and the help of professionals are:
Electrical services
Installation of partition Walls
Installation of heating storage, radiators and or air conditioning units
Installation of cavity walls and insulation
Plastering of all walls
Painting and decorating
Window installation (double glazing)
If you have a listed building property that needs renovation you need to get permission from the English Heritage. They will give you a set of guidelines that you must follow, and they will regularly come and check the progress of the renovation and that the renovation is in keeping with the age of the property and that any original features are restored carefully.
If you’re a property developer and have bought a property that’s in need of renovation before you rent or sell the property on and you require professional help with renovating any part of the building or the whole building, there are specialist renovation and building supply companies to help you. You may feel you can do parts of the renovation yourself and also save some money, but you may also want a quick turn around and know you can’t complete the properties renovation in the time you have. If so contact a property renovation company today.
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Bathroom Renovations!
Posted by admin in renovation on December 21st, 2011
Bathrooms
When getting into a bathroom renovation, it is always better to start from scratch! Newer homes are easy if the builders did everything right. Older homes is another story.
In this chapter we will be referring to older homes that are in serious need of help. The reason is if you can do a bathroom renovation in and older home, you can do any home with a lot less work.
First thing you should do is always access the situation. This is a process that can apply to every renovation project that you decide to take on.
Keep in you mind to remember the first rule it is better to start from Scratch. I always tell people they should gut the Bathroom completely.
You probably already knew I would say that so get the hammer, pry bar if you even know what they are, if not stay away from the local hardware store and go straight to the nearest Home Depot or Lowes store.
You bought this book to renovations in your home so you need good tools that you will need for this job and the next.
Take your hammer and start smashing a straight line down the middle of the back walls first, be careful there is wiring and copper pipes behind those walls. Do not even bring a hammer close to a pipe or wire. Use a little pry bar for those area’s.
Then if you should replace the tube so disconnect the drain and the vent cap. If it is a really old tub that is made of cast iron. Buy a Sludge Hammer and smash away and make sure you were your safety goggles.
Don’t leave anything that you can trip over, you will thank me latter for that.
Now that you have a bare naked bathroom. You can check to see if the wiring is old and the plumbing is leaking. If the plumbing looks old change it! If the wiring is old change it! It is always better to start from scratch! Make sure all drains are vented trough the roof because the smell is toxic and you will not be able to live in that house.
99% of the time when a drain has a really bad smell it is because it is not vented or the pipes are old. Older homes didn’t put vents in back more than 25 years ago. Use PVC drain pipe instead of iron our cooper. It lasts forever. Don’t forget the glue!
Wen soldering cooper water lines make sure you use new pipe, not the you got from a friend. Lead free paste and solder, no 50-50 here you are asking for trouble, and it is against code. You solder all pipes to the shower taps and shower head before you can put anything back together.
I always put in shut-off valves on every tap and line. Lets say you have a leak somewhere. The store is closed and you have to shut the water off to the hole house to fix it. Think first, if there is a shut off on every tap they you can isolate the problem area and still have plenty of water. Sounds better does it not.
Wiring is easy if you can remember a few things. Shut power off to any lines you are working on. Run all wires first before you put up the gypsum board. Make sure all wires have merited ends and all have a proper ground, ground the box too. Why not drywall in the bathroom or the green drywall that they say is water proof. Gypsum board is the blue stuff, just in case somebody tells you different. It is water and mildew resistant.
For the shower tile area use Denishield Boards. They are more expensive but they are water resistant and mildew resistant. Better than cement board that falls apart after 10 years. Cement produces moisture.
Make sure that every joint is taped and adhesive.
Now you can start putting the tub first after running the boards all the way to the floor. The tub should always be anchored to the wall. Hook up drains and use plumbers putty, even if it has a gasket! Now it will never leak. Always check tapes and joints for any leaks before you close up the walls. Sometimes it may drip just a little, redo the job. At least you have a shut off valve this time.
No leaks you are on your way to freedom now! Drains don’t leak taps don’t leak what are you going to fix? TV remote!
If your going to install a standing shower use the kerdi system. It will be the best 600 after tax you ever spent. I personally use this system all the time. Shower boards should be on top of it, not behind like the tub.
Install a water proof membrane for the floor. If the subfloor needs replacing do this before you do anything you heard before. The membrane should be adhesive to the subfloor and allow 24 hours to dry.
Now the hole bathroom is safe and waterproof.
Choose a tile you wish and tile from the tub to the ceiling. Let dry for 24 hrs. Same thing for shower tiles. If you are using heavy tiles use a product that is made for it. When using marble tiles always use white adhesive. Grey adhesive will change the color of the marble!
If you can tile the floor the same day, if you wish but it is always better to do one area first. If you do the floor at the same time do not walk on the floor for 48-72 hrs.
After installing tiles, grout every joint and push the grout all the way to the wall backing board. This will last forever, if you seal the tiles and grout the next day. You can find different types of sealer and cleaners at the home depot store. For marble the adhesive and the sealer should say right on the bottle for marble. If it doesn’t go somewhere else.
After grouting wait about 20-30 minutes and use a lot of clean water, changing it every time it gets really dirty. You should see a light film on the tiles. Before sealing take a dry towel and dust it off, then seal. For marble seal before and after you grout.
Hey that bathroom is starting to look like something special. 24 hrs after that you can install the vanity and toilet, pot lights, vanity lights, mirror. Make sure all pot lights in the bathroom are waterproof pot lights. Yes you can pot them in the shower too. For a tub install a whirlpool tub for two if you can more room the better. Silicone the grout lines at the lowest joints and everywhere you think water might get in and cause damage.
Congratulations! You now have a spa bathroom remember to install glass shower doors at the end.
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Home Remodeling in Florida is the Best Option to Have Fresh and New Look of the House
Posted by admin in renovation on December 18th, 2011
Many homeowners have come to know that remodeling the home is an affordable and cheaper option than to buy a new home. With the cost of new house going up day by day, remodeling is considered to be the best option of getting new look and feel from one’s old house. Home Remodeling design trends for homeowners in Florida have changed and instead of thinking bigger they’re choosing to be smarter. Through renovating, their motivation is not only to update the look and feel of the home, but also to improve the comfort and utility of their space to meet the changing needs of their lifestyle.
Remodeling helps to enhance the look of your home and the task of remodeling is performed to replace the old and traditional material with the fresh and latest one. Florida has many trained and experienced remodeling professional who hold specialization in remodeling of homes as per the clients taste and requirements. Team of experts carries out the designing and construction works after studying the location of the property and do the renovation as per the need of the customer. Some of the major areas of the house that are renovated are kitchens, bathrooms, room additions, floor plan with latest designs and also reconstructing the damaged area of the house. One of the common remodeling that is done in a house in is its entrance. The entrance of the house is renovated by stately covered porticos, columns etc. These not only provide aesthetic up gradation to the house but it also increase the economical value of the house.
Home remodeling team first shows the pre-designed structures to the clients so that they can get their approval and after that only they start the construction work. Careful planning of the home renovation reduces the unexpected things that occur during the renovation. Today’s major need of home remodeling in Florida is to have an airy, well ventilated house with lesser extra walls. The need of fresh air circulation in all the rooms is considered at the first step of planning. These home renovation company of Florida consider all the requirements of clients and perform the renovation as per their needs.
In Florida number of bedrooms and baths vary from person to person and the dinning room and kitchen are connected through the big rooms of the house. Some of the major aspect due to which remodeling is required are, many houses in Florida are not able to handle the scorching sun of summers. Houses should be energy-efficient in its construction. These types of houses surely require remodeling so that the owners can avail maximum comfort and relax at their home. Remodeling also raises the value of your house and the purpose of remodeling the house varies from person to person and the further usage of the property.
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Weathering United States Recession 2009
What is Recession, the recession is known as the state of the decline in the economy sector; a widespread decline in employment, in the GDP and trade lasting from six months to a year. Current economic environment in the USA is facing severe period of the recession. We can easily note employment decline in certain areas including housing and industries, as losses in these areas are widespread. Many people are searching reliable ways to lower the financial risks in this difficult period of the recession. If you want to minimize the effects of current recession period you should take some effective steps to make the current situation risk-free for yourself.
First you need to cut back unnecessary spending during the recession that will leave some disposable income for you. If you are paying some debts, then you need to reduce the amount you pay each month to your finances. It will take off your strain to some extent. You can do it easily by consolidating all your debts into one mortgage repayment along with low interest rate. Various people end up of paying huge amount on their bills like electricity and gas bills, mobile bills, broadband bills, landline bills and also insurance premiums in every month.
You should get surety that you are not paying more than your needs on these bills, as you can seek assistance from the comparison sites to see whether you can move to cheaper deal or not. In this way, you can save a considerable amount of money each month. Any amount that you have saved on your monthly outgoing, you can place into your saving account.
This amount can prove handy at the time of emergency when the period of United States recession is in full swing. You should know that currently interest rates are on the down so you need to check credit cards and mortgage rates to get surety that you have almost competitive deal. If not, you need to switch to more competitive finance provider. Make these changes in your life as these measures help you to minimize the effects of the recession when it will come to your finances.
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Recession? or Depression?
RECESSION? OR DEPRESSION?
What’s the difference between a recession and a depression? What’s a recession? How do we know if we’re in one? These are questions we all want answers to during these turbulent economic times. A glib definition is, when your neighbor loses his job it’s a recession. When you lose your job it’s a depression. The standard newspaper definition of a recession is a decline in the Gross Domestic Product GDP for two or more consecutive quarters. However, by using quarterly data this definition makes it difficult to pinpoint when a recession begins or ends. This means that a recession that lasts ten months or less may go undetected. The Business Cycle Dating Committee at the National Bureau of Economic Research NBER provides a better way to find out if there is a recession taking place. They define a recession as the time when business activity has reached its peak and starts to fall until the time when business activity bottoms out. By this definition, the average recession lasts about a year. What goes up must come down.
Periodic recessions are a natural part of any nation’s economic cycle. Most analysts pointed to fears surrounding the United States economy and a possible recession as the reason for the drop. Three days later, news outlets were already reporting a new economic stimulus package designed in part to try to prevent a recession. This isn’t the first recession news in recent memory. The old saying goes that economic forecasters were invented to make meteorologists look accurate. When the weather reporter predicts snow, one can look outside to see if the forecast is correct. But when an economist predicts a recession, the only verification is the opinion of other economists. Unlike snow, no one can be sure when a recession has begun, or when it has ended. Interest rates usually fall in recessionary times to stimulate the economy by offering cheap rates at which to borrow money.
Another indicator of a recession is a sudden rise-at least two percentage points-in the unemployment rate. Example: The general business recession caused high unemployment in the rust belt and low interest rates throughout the country. Whether a recession develops into a severe and prolonged depression depends on a number of factors.
A depression is a severe economic downturn that lasts several years. Fortunately, the U S economy has not experienced a true depression since the market collapse in 1929.
The Depression of the 1930’s was aggravated by poor monetary policy. The “New Deal” created many government programs to end the Depression, but government programs alone could not end it. We probably won’t see a depression like that again, simply because the government has learned how to avoid it. Many laws and government agencies were put in place because of The Great Depression with the express purpose of preventing that type of cataclysmic economic pain. It was the longest and most severe depression ever experienced by the industrialized Western world.
The Great Depression began in the United States but quickly turned into a world wide economic slump owing to the special and intimate relationships that had been forged between the United States and European economies after World War I. The Depression hit hardest those nations that were most deeply indebted to the United States, i e , Germany and Great Britain. The Great Depression had important consequences in the political sphere. In the United States, economic distress led to the election of the Democrat Franklin D. In Europe, the Great Depression strengthened extremist forces and lowered the prestige of liberal democracy. Prior to the Great Depression, governments traditionally took little or no action in times of business downturn, relying instead on impersonal market forces to achieve the necessary economic correction. After the Great Depression, government action, whether in the form of taxation, industrial regulation, public works, social insurance, social-welfare services, or deficit spending, came to assume a principal role in ensuring economic stability in most industrial nations with market economies.
Many factors can cause a recession to slip into a depression. Not the least being greedy CEO’s and inattentive members of congress. Probably the quickest, but least desirable, way out of a depression is war. WW2 is a perfect example. Economists cannot agree on the exact way to end a depression as no democracy has existed this long, so they have no road map to follow and are more or less feeling their way along.
There are two current theories under debate. 1) The unprecedented infusion of resources into the depressed economy will result in accelerated boom-and-bust cycles. This may result in the dissolution of our economic system as we know it. Or: 2) The unprecedented infusion of resources into the depressed economy will result in a long-term, painful recovery of our economic system. In either event, there does not seem to be a painless, “quick” fix that will make everyone happy and prosperous.
Repossession
Boost Your Company Way Out of Your Local Recession Field
Do you automatically assume your business will follow the flow if your local economy was going through a recession? Do you lack ideas on how to keep your company slugging through rough times?
How would you like to be able to free your company up out of any sticky recession your local economy might be in?
Let’s take a closer look at how your marketing team functions during recessions.
Your marketing team is your lead generation tool, right? How can a seasoned marketer help you during recession?
Traditional Marketing Outlook In A Recession
Generally speaking, during a recession most offline marketers get their budgets cut. This appears to limit their choice of actions. Marketing life can seem pretty gloomy without the budgets companies become accustomed to.
But this will not deter the seasoned offline marketer. He will look for and find creative solutions he can implement on a decreasing budget. The seasoned offline marketer will learn to manage, if his company and products have staying power. And if this is not his first recession to ride through, he will have prepared for hard times.
Creativity is part of the key. Traditional marketers have to lift their heads up and look out at the whole world to try to find their solutions. Communication is live.
They have the upward and outward outlook. They might lack the tools or opportunities they desire in-house and will naturally look outwards to find them.
Online Marketing Outlook In A Recession
During a recession the online marketers will naturally look to increase their conversion rates. They will want to get even more out of the money they have. Good online marketers often still have weapons up them sleeve to get better conversion rates. Recession stimulates them into action.
But this leads the online marketer down one narrow road, totally fixated with numbers, and testing, concentrating on the math and science of online sales conversion.
His vision is totally focused, and can be narrow in scope during a recession. Increased conversion rates can help during a recession.
Fly Above The Crowd
The pressures of survival on low budgets can narrow your vision.
What happens when you get a marketer with both online and offline experience marketing during times of recession? What would he come up with?
Probably a solution that will give your company a big boost, taking you out of the whole recession arena.
A little creativity with focus…and the low-cost friend, the internet.
What will you see if you were to look upward and outwards with focus?
There are other countries which are not operating under the same economic constraints as you are.
Creativity?
In a recession, dare yourself to find or create a product to sell further afield. Any company can. It just takes a little bit of imagination. Let the traditional marketer help you.
Powered Focus?
In a recession, dare yourself to find those clients fast. Of course, you can. Let the online marketer help you.
Recession proof your business by getting more foreign clients.
Flying above the crowds is a mindset, don’t let your mindset get caught in your local economy.
Developing clients further afield will help your company expand in the long term.
In a recession? Use both Traditional Marketing and Online Marketing skills to give you the power you need to get up and out of any local recession your company may be in.
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Learn how to combine cross-cultural marketing tools and international sales strategies for faster sales.
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An Opportunity to Renovate Property and Make Money
Posted by admin in renovation on December 3rd, 2011
Property prices are falling and are still expected to fall further. If the property needs renovating then selling it in the current times will be even harder simply because there are fewer buyers and fewer mortgages. Sellers are worried about the extent of how much they still have to fall and therefore are very keen to sell and accept a very low offer. However, with the US government’s bail out plan ($700 billion if agreed) and new support from the Central Bank and Bank of England the financial markets are expected to stabilise. In turn confidence will return and banks will gradually increase their lending to each other. When this filters through to the high street, mortgages should begin to be more readily available and there will be more buyers and property prices will start to rise. Buying before this happens is your opportunity.
Firstly you need to know how to find a property to renovate. At the current time more homeowners are defaulting on their mortgages and as a result repossessions are on the increase. The unfortunate homeowner wants to get back as much money as they can and generally sell or take everything they can from the property – sometimes whole kitchens and bathroom suites are removed before the bank takes back the property. More properties are being sold at auction yet there are fewer buyers and as a result the property is sold very cheaply. To find auction houses see the auction directory at www.wheresmyproperty.com. Remember to gather as much information as you can prior to the auction and do your homework on the auctioning process.
Another way to buy property is to use a company such as www.renovatealerts.com who do the searching for you. Instead of checking what’s on the agent’s books subscribers receive an email containing properties that require renovating that are being advertised by estate agents all over the UK. In the last 30 days RenovateAlerts found nearly 17,000 properties – and that’s properties for sale, not sold or under offer.
Throughout the project, have a budget and equally important, stick to it. When buying any item, shop around, use the internet to find the best deals. Do not choose bespoke fittings; always remember that you are renovating to make money from it. You are not doing it to your own personal taste; you are doing it to sell in the future. It needs therefore to be simple and neutral. Of course, it may be more fun to decorate and fit the property out in your own taste – but beware, set limits.
Renovation should not be costly. A budget renovation could be priced around £15,000 to cover redecoration, a new bathroom suite and a new kitchen. If you are buying carpets, buy it “from the roll” - this means using the same carpet throughout the house which is cheaper. If you are planning to rent out your house until the market picks up buy a washable, stain-resistant carpet which can easily be freshened up with a carpet cleaner. The only exception to this is to laminate the downstairs, which, if bought wisely, is a cheap option.
To make the most of this your opportunity you need to have a mortgage in principle to show the seller that you are serious (or even better, be a cash buyer) and then offer a very low price. Once you have reached a deal, start planning your renovations so that you are ready to start as soon as you have the keys. Aim to turn the property around in a matter of weeks and rent it out (or live in it yourself). When banks start lending to each other again mortgages will be easier to get and buyers will want to snap up the cheap property. As soon as this happens prices will start to rise. Plus, by 2012 there is expected to be a shortage of property as builders have greatly reduced their building programs and demand will therefore outstrip supply. These factors could in fact lead to another property boom.
Then you can sit back and judge when to sell.
Disclaimer: All information contained in this article, is for general information purposes only and should not be construed as advice under the Financial Services Act 1986. The article is based on the writer’s personal view and you are strongly advised to take appropriate professional and legal advice before entering into any binding contracts.
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