SkyFive Properties Blog

Becoming a homeowner for the first time is one of the most exciting times in your life. Whether you’re making the transition from renting, moving in with your partner, or leaving your parents’ home, you will be ecstatic. However, you must familiarize yourself with the common pitfalls. Otherwise, your dream could soon become a nightmare.

Here are four of the most likely mistakes that could cost you dearly throughout the process. Avoid them at all costs.

Going It Alone

It’s quite natural for first-time buyers to prefer the DIY route in a bid to save money. However, buying the wrong property could spell disaster for your finances and quality of life.

The value of an experienced house agent cannot be emphasized enough. It is the key to finding the perfect property in the perfect location. Given the number of contributing factors that need consideration, it’s simply not an issue where you can afford to take risks.

If nothing else, acquiring support throughout the process will put your mind at ease. Better still, you’ll gain valuable advice in the aspects below.

Underestimating The True Costs

As a first-time buyer, you’d be forgiven for assuming that you simply make a downpayment followed by monthly payments. On the contrary, purchasing a property includes so much more.

For starters, the agents will want to be paid. Then, there are contracts and legal documents that need to be drawn up by an attorney. This is in addition to various property surveys and hidden costs. Oh, and transporting your belongings to a new home won’t be cheap either.

The harsh reality is that the process of buying a home will probably cost a few thousand dollars. Fail to take this into account, and life will become more difficult.

Not Thinking About The Practicalities

In addition to the costs, you must factor in the practical requirements you’ll encounter throughout the process. This is especially true when moving to a new city.

You should consider the upgrades that will be required from a financial and logistical perspective. This includes making the home eco-friendly with upgrades that save money in the long run. On a separate note, you should consider the timescales involved.

Otherwise, you may be left temporarily homeless and forced to get a rental property. This will naturally put a strain on your finances.

Ignoring The Importance Of Timing

While the time frames of your move are crucial, it’s not the only time-related issue. Your situation will also be impacted by the status of the market at any given time.

The economy has faced a significant change in recent months due to political issues as well as the pandemic. Reading up on all aspects of this is vital if you wish to time things well. Ultimately, you will see benefits for life when your first step onto the property ladder is a good one.

Conversely, though, a bad move today could cost you dearly tomorrow. You must remember that knowledge is power for the sake of your future self as well as your immediate finances,

If you want to buy a luxurious home, then you’ll be glad to know that this is very easy to do, when you know the steps that you need to take. It should be noted that buying a luxurious home requires a different approach when compared to buying a standard property. If you want to find out why, or what you can do to make your purchase go smoothly, then take a look below.

Find the Right Real Estate Agent

The first thing that you need to do is try and find the right real estate agent. Past performance does matter, so you have to make sure that you are being looked after.  Just because a real estate agent has had a lot of success in mid-range properties, does not mean that they are experienced in high-end properties. The right agent will have no issue at all in providing you with brilliant testimonials from luxurious property clients that they have worked for in the past. The right agent will also know the area very well and they can also help you to ensure that the property you are choosing is suited to your needs.

Financial Considerations

The figures show that the costs associated with buying a luxurious property are high. You have to make sure that you cover your bases if possible. Some sellers will want to know a bit about your financial situation before they negotiate a viewing or before they enter the negotiation process. This could be a pre-approval note from the bank or anything else of the sort. Either way, when it comes to making your offer, some sellers will want to make sure that you have the money in your bank already so that they know you’re not a time-waster. This is very normal so don’t be alarmed. It’s helpful to make sure that you have prepared as much of this as possible, in advance so that you can ensure that you are going to get through the process quickly.

Know what you Want

You may be working with someone to make sure that your move goes as smoothly as possible. This is great, but it doesn’t negate the fact that the home is going to be yours at the end of the day. You have to take the time to ensure that the home is going to be the ideal fit for you and your family. The house has to be a good option and you also need to make sure that you plan out any repairs that might need to be done. Luxurious homes don’t tend to need too much renovation, but at the end of the day, you do have to make sure that you explore the idea of making some repairs if they are needed. If you want to look up some properties then look up New Western.

Take your Time

There are many reasons why buying a home should never be a snap decision. For one, you should never take any decision like this lightly. You don’t want to be in the middle of buying a luxurious property, only to have buyer’s remorse later. If you do then you may find that you really struggle to come to terms with your decision and that you have wasted thousands. If you want to stop this then you need to make sure that you take your time and that you make sure that the property is ultimately right for you. If you rush because you are worried that the house isn’t going to be available for long, then this is understandable, so plan out your ideal property before you go and look into what’s on the market. If you do this then you’ll be able to see what you truly want in a home, before you go ahead and make your offer.

So buying a luxurious home can be difficult, to say the least as it requires a very different approach, but that being said, if you take your time then you’ll soon find that securing the right property isn’t too difficult at all and that you can easily get a good deal without having to break the bank. As you’ll be spending a lot of money, remember that you need to hire the right estate agent too. If you do this then you’ll be able to capitalize on your investment while also making sure that it is the right choice for you overall. If you need some more help, then talk to your bank to see if they can offer some financial support.

The art of showing off your property, whether you are selling your property or not, is about modernity. Updating your home isn’t just about making it look appealing, but it’s about ensuring it’s environmentally friendly too. If you are looking to make your luxury home eco-friendly, what are the best things to look at?

Sustainable and Locally Sourced Materials

Once upon a time, locally-sourced was the way builders would construct houses. Now it’s a key signifier of quality. Whether you are looking for an energy efficient roof or need to extend the property, using locally sourced materials will greatly reduce your carbon footprint. A simple approach, but incredibly effective if you are concerned about your impact on the planet.

LEED Certification

Leadership in Energy and Environmental Design is a certification program from the US Green Building Council. It is a perfect way to show off your eco-friendly construction approach. A seal of approval like this will give you that extra peace of mind if you are trying to undertake more eco-friendly practices.

Vegetable Gardens and Orchards

A very simple approach, but one that still makes an impact. Tending to a garden is not just great for you, but it’s great for the planet. Investing in organic produce to plant makes a big difference to the feel of your property. Home vegetable gardens have become a key feature of luxury properties. If you have enough space, you can scale down the farm-to-table concept and learn to live off your own land. It’s not just about vegetables, you can also plant your own vineyard and make your own wine. There are so many benefits to having orchards and vegetable gardens, not just because of the natural shade. They also will benefit the planet by maintaining healthy soil and producing oxygen.

AMX Technology

Smart homes are becoming more widespread. And as eco-friendly houses need to be more than sustainable, this is where AMX technology can come into play. Smart home systems are the way forward for homeowners who are just living a luxury life, but have to split their time between several homes. Using smart technology to not waste energy is crucial. In addition to this, smart technology can protect your home. Using tech to control your home remotely, such as by using numerous apps, will be the way forward in a few years’ time. But for now, it is the perfect way for you to maintain a sense of home in every property you own.

Solar Panels

A long-term solution for any homeowner. They can be a very attractive and artistic addition to your home. Whether you have an old property or a brand new one, there are companies that produce roof tiles that aren’t eyesores. There are providers that take inspiration from classic architectural styles. Innovative, but still one of the best ways to save the planet.

Updating your home is not just about the aesthetics. Making sure it is beneficial to the planet is more important than ever. This is why you need to take it upon yourself to upgrade your luxury home into something more.

A question that’s as old as time itself; is real estate investment really worth it? In short, absolutely, as there are so many returns that you can gain from your initial investment.

If you’re considering investing in real estate in the near future, but not sure where to turn, we’ve got some great ideas for you to consider and why they’re a good idea.

https://pixabay.com/photos/architecture-real-estate-apartment-5339245/

Buy to resell

A quick and easy way to get a return on property you’ve invested in is by using the buy, renovate and resell method. It’s as simple as it sounds too!

You simply buy a property that needs some work doing (often you can work the asking price down, too), invest some money into the property by revamping rooms such as the kitchen and bathroom, and then put it back on the market for a higher selling price. The great part about this method is that sometimes, you don’t need to spend a large amount of money to increase the value of a property.

Rent out a holiday home

Another great way to take advantage of returns that real estate investment can bring is by purchasing a holiday home in a well sought after destination. Again, spend some time making it more desirable, and you can rent it out for large sums of money per week or month.

Holiday goers can then rent your property from you while they’re on vacation, and you earn a tidy sum from it! Plus, you’ll also have a holiday home available if you fancy a breakaway. You might look for a beachfront villa for sale mauritius, or perhaps you fancy the idea of a log cabin in the Swiss snowy mountains. Either way, you can earn a tidy profit from owning a holiday home.

Invest in residential lettings

You may be looking for a constant earner, and owning residential properties is a great way of achieving this. Again, you might have to put some TLC into properties you’ve purchased, but you can then rent them to families and earn monthly from your investment.

Before long, your property will have paid for itself, and the money you earn from it can go into savings to help save for later on in life! One downside of owning any property, but especially residential lettings, is the responsibility of repairing anything that goes wrong. Taking out insurance for landlords will help protect your finances.

Consider commercial property investment

Finally, if you’re not keen on any of the above ideas, you might consider commercial property investment. This is where you buy and own a commercial property and rent it out to businesses to run month to month.

This could be in the form of a warehouse, office spaces, or even outdoor spaces for construction businesses. The great thing about commercial property is that the cost of rent is often much higher than residential, so the potential earnings may be higher. The possibilities are endless!

Planning for a vacation in South Carolina? And in a condo? Excellent idea, no doubt.

But wait!

Don’t fall for whatever the slick owners offer you with lots of advantages. Please consider the following points we discuss here and then make your decision.

Decide from the two

You buy a condo for two reasons. The first one is to live there after your retirement. The second reason some people try to own one is to make some extra income. Both the objectives cannot have the same course of action.

But we’ll keep it simple and try to give you some ideas that should help you in both cases.

Get a Realtor

This is most probably the first and the most important thing that could make your plan a success.

You need a realtor for the following reasons:

1. The first thing about buying a condo is that you need pre-approval, and a realtor will assist you in doing it.
2. Once you have the pre-approval, the realtor is going to start sending listings from their local multiple listing service (LMLS).
3. Once you’ve decided on a particular home, the realtor will write an offer for you. This write-up involves many formalities, and they know these very well.
4. Generally, they will attend your inspections on the property making you satisfied.
5. They will take initiative and negotiate in case you find any issues, such as faulty doorknobs, leakage of water through the roof, mold or spongy wooden floor during your inspection.
6. A lot of paperwork is involved in buying and selling of any sort of real estate. A realtor is responsible for monitoring and processing any necessary paperwork.
7. In addition to handling the paperwork, your agent will communicate with the persons involved in this deal.
8. After that, your agent will finally ensure that the house is in the same state as it was when you started the negotiation. They will also see if the repairs that were proposed have been done.
9. Once the agreement is settled, the realtor leads you through the final process of monetary transactions and handing over the ownership papers.

Things Change

There is no point in relying on any older information. Things are always on the change, and you need to be up to date. Some buildings have litigations and slip and fall issues and other sorts of construction defects.

The internet is full of a lot of information, some of which are not correct. So you need to be careful where you are getting information from. This, again, necessitates a realtor who is there to provide you right, accurate, reliable, and up-to-date information for you to keep you tension-free.

Here is a place where you can get impressive Myrtle Beach SC real estate information.

A Condo or a Condotel

So many people mess up condos and condotels. Condos or condominiums are something that you own and you are responsible for all the maintenance, renovation, and even remodeling them. A condo is your second home— a retirement home.

The condotels, on the other hand, are hotels (condo + hotel = condotel), rented for a limited time (a night, a week, or even a month), but you live there as if it’s your own home. They have rental desks, a room service system, and other facilities just like a hotel.

Banks finance a condo, but they do not finance a condotel.

Oceanfront condos are almost always known and operated as condotels.

HOA Budget

This is an important issue because if you see that you’ll have to pay an HOA fee of $500 a month, that’s great. However, it may not mean that you’re going to pay that amount each month. Sometimes, the home owner’s insurance is included in the HOA fee, and other times, it doesn’t.

Sometimes, your water, internet, sewerage, and electric bills are included but sometimes they are not covered. You can tell your agent to obtain clarity regarding all these issues and make them simple to understand for you.

Limited Review and Full Review

If you do a limited review, it won’t answer all those questions. In a full review, the questionnaire is long and detailed. It’s got tons of questions, many pages, and criteria to be filled out correctly.

Taxes

Taxes vary for an investment owner and one who lives there for at least 6 months. If you use it as a primary residence, the tax rate is always less. For more information, you might like to see this page.

Lending Issues

Nowadays, condos at the oceanfront are all operated as condotels. This makes them a high-risk and non-warrantable property. Being an investment property, you need to pay a down payment of at least 20% and a higher interest rate.

Lending History

This is something you must consider. It’s not so easy to get a good lending history, but your realtor can help you with that. They are experts at digging out at least the last 3 years’ rental history and occupancy rate.

Overview

The bottom line is that you don’t decide in a hurry, and you don’t move alone. First, select a reliable realtor and leave the formal and technical processing jobs to them. All you need to do is to have an understanding of general concepts. For clarification of any technical terms and complexities, your agent should be enough.

Then you can talk to people who have been there or, on the spot, talk to people living there. They can provide you with realistic information and advice that no other outsider could have access to. For acquiring any unofficial information, they are always the best. You can ask the HOA as well, who has the ready answers for all the statistical queries.

Please don’t leave any possibility for you to be caught by surprise. It is the question of your vacation or your retirement home where you’d find peace and relaxation with all your beloved people. Don’t let something ruin it.

The holiday season is approaching, and some people will get together and practice social distancing and mask-wearing. You can still have holiday gatherings as long as you keep them small and follow the CDC recommended protocols.

While the holidays put many people in a festive mood, there is one potential drawback. Some criminals try to use this time to break into homes and cars or to steal packages. They’d love to get their hands on your gifts and ruin your holiday season.

You need to protect your home, and we’ve got some suggestions as to how you can do that.

Install Home Security Cameras

Crime rate increases during holiday season, but you can use cameras to deter that. There are several excellent camera brands on the market today, such as:

• Arlo
• Blink
• Nest

You had to hardwire home camera systems in the past, and you usually needed to hire an electrician for that. You don’t need to do that anymore.

When you buy one of these outdoor camera systems, you drill a hole in the siding, brick, or whatever other material, and you screw in a base. You affix the camera to that base, usually pointed at your front door, back door, or any other ground-level ingress or egress methods.

You can then install the app that goes with that camera system and monitor your home that way. You can set the sensitivity level and record any people who come onto your property or vehicles that drive past.

Install Motion-Activated Lights

Criminals like to do their work when it’s dark. They might sneak down your driveway and break into your vehicle at night if you don’t have a garage.

You can deter them with motion-activated lights. These lights:

• Turn on when someone approaches
• Brightly illuminate a driveway, your front steps, etc.

If someone wants to try jimmying your window open at four o’clock in the morning, they won’t want to do it so much with a bright light shining on them. The combination of lights and cameras will chase away just about any crime.

Get a Dog

Maybe you want to get the kids a pet, but at the same time, you want some home protection. You can get a dog, killing two birds with one stone.

Your kids can have their pets, and you can have a loyal property protector. Dogs naturally like to protect their owners and their home turf.

You should study the different breeds a little before you buy, as some do make better guard dogs than others. You also might need to train the animal. Some dogs pick up these home-protection lessons very quickly, while it does not come so naturally to others.

If you get something like a Doberman, Rottweiler, or German Shepard, any criminal will think twice before trying to enter your home or even approach your house. Also, many studies show that if you have pets, you’ll live longer, and you’ll have a lower stress level.

Install Electronic Window Sensors

You can also install electronic door and window sensors. They don’t cost very much, and you can get as many of them as you need to cover every ground-floor window and door. You can even get ones for the upper-floor windows if you want.

These sensors activate if a window opens, and a thief breaks the connection. You can get a smartphone notification. All you must do is install the corresponding app, and your phone will make a noise or vibrate if someone ever tries to break in.

Install a Doorbell Camera

You can also set up a doorbell camera system. This way, if someone ever rings the bell, you can see who it is on your phone, even if you’re not home at the time.

You might think that a thief wouldn’t ring the bell, but sometimes that’s precisely what they do. They might pose as a delivery person or postal carrier, and they’re trying to figure out if you’re home or not.

If you can see them when they ring the bell, you can probably tell very quickly whether they have legitimate business there. You can instruct them to leave a package if they’re a real delivery person. Most of these doorbell cameras also have microphones, so you can talk to whoever is there.

With these security measures in place, you can enjoy the holiday season. You won’t have to worry about anyone trying to break in or porch pirates attempting to snatch your gifts.

The internet has changed marketing in so many different ways, with real estate agents and companies now incorporating online media as part of their marketing strategy. The rise in the use of visual marketing in real estate has been necessitated by people having lower attention spans and increasing competition in real estate.

Real estate agents have to capture the attention of prospective clients fast and keep it, otherwise, they lose traction in the industry. Visual marketing entails capturing the attention of clients using various types of media, but it incorporates much more than that.

Accelerating the Sales Process

Visual marketing uses various content types including images, 3D renders, well-staged listings and video. A realtor can use any combination of these in a gallery or individually to give clients a better feel of the property they are looking at.

Because clients get a clear idea of the property they will be buying, they do not have to come to see the property physically. Because of this, the sales process is shorter, the property spends less time on the market and the client gets to experience what the property has to offer before they set foot in it.

Getting Creative

An important factor in ensuring a property is sold as fast as possible is showing it in the best way possible. High-quality images have been used for this purpose in the past, but since every realtor is now doing this, real estate agents have to think of creative ways of standing out.

Video walkthroughs are a great idea as they let the client view the property as if they were walking through it. The realtor can provide optional narration to tell the client about the different features of the property, its unique selling proposition and a lot more. Virtual reality (VR) that gives a 360-degree view of the property and allows clients to “visit” any part of the property is also gaining popularity.

Next, we have virtual staging. Every realtor knows that staging a property increases the chances of selling it quickly and at the right price. The only problem is that a staged property requires maintenance and costs a lot to keep it in pristine condition, especially if there is rented furniture used in the staging.

Virtual staging is taking off, with companies such as Baron Design providing virtual staging services for high-end property. They can create any look, add virtual furniture and give prospective owners decorating and decor ideas should they buy the property. If you have a property you want virtually staged, you can visit them at https://www.bariondesign.com/virtual-staging/new-york to start virtually staging your property listing.

Visual Content is Great for Search Engines

Search engines take social signals very seriously when ranking websites. These signals include likes, shares, and engagement. Because visual content makes it easy to do all three, it is great for SEO and discoverability.

Visual content has been shown to have a bigger impact on real estate marketing outcomes than most other types of content. Visual content makes it easy for the client to visualize themselves living on the property, gives them creative ideas of what to do with the space available, and makes it easy to share your properties on their social media accounts.

Whether you are working independently or with a selling agent, there are many steps that you must follow when putting your home on the market. Thankfully in Miami, the real estate market is booming, and the market is optimal for both buyers and sellers. If you have been contemplating selling your home, this current market is offering a great opportunity for you to resell your home and net positive in profits.

One of the most crucial aspects of selling your home for the right price is by showing the property. If you don’t put in the effort to style your home and get professional photographs taken, you are less likely to see immediate interest in your residence. In this article, we will discuss the simple ways that you can design your home for a showing.

1. Clean From the Outside In

Put yourself in the position of the buyer. If you drive by a “for sale” sign for a house that looks dirty and rugged, are you going to spend time venturing indoors? The answer is likely no. Make sure that your house looks appealing on the outside. Mow the lawn, clear the brush, and make sure the windows all look sparkly clean. In some instances, the indoor and outdoor space will need a fresh layer of paint. It is important that the indoor space is clean as well. Removing clutter and wiping the counters can sharpen up space exponentially.

2. Make The Space Look Clean, But Inviting

If you are looking for a house, you want to ensure that it is a place that you can eventually call home. If every room looks overly clean and sterile, people will have a hard time imagining themselves living there. On the flip side, if your home is full of excess decor and clutter, people will have a hard time imagining their own style in the space. When cleaning and arranging your space, you must ensure that you find a balance between cleanliness and comfortability. If your furniture is out of date, try purchasing a few new pieces of casual dining room furniture that help buyers to imagine themselves in the space.

3. Spark Creativity and Interest

Leave some unique aspects of the home to be explored. In general, most walls and furniture pieces should be neutral. Use your space creatively so that people become intrigued by the various ways they could use the space. For example, try converting a spare bedroom into a gym. If you do not have a spare room, consider converting a corner of the master bedroom into a workspace. These creative and unique ideas will spark a piqued interest in the eyes of the buyer.

4. Produce Simple Yet Flavorful Scents

Make sure your home smells pleasant when guests arrive. Nobody wants to smell your dog or the dinner that you cooked last night. Insert candles and air fresheners throughout the space so that a pleasant aroma fills each room.

Summary

Showing your house can be a stressful experience. Since people come to see your home at random times throughout the day, you must ensure that your space can remain clean and comfortable. By arranging your furniture, cleaning thoroughly, and sparking creative ideas, you can ensure that your house sells quickly at an admirable rate.

You have been saving for years to purchase a space of your own. Whether you are single or not, there are many options to consider when purchasing a property. How much space do you need to survive and thrive? Does your home double as your workplace?

As you determine what type of home you are going to purchase, there are many small preferences that you must identify. Condos, townhomes, and houses all have an extensive list of pros and cons. No matter what type of property you buy, you must get pre-approved by a mortgage broker. In this article, we will talk about the things to consider when determining what type of property you want to purchase.

Condominium

Nowadays, purchasing a condo is a common decision made by millennials and retired couples. The benefit of purchasing a condo is that they typically are much more affordable. With a condo, you can be located closer to a city center without the expenses of a standard household. In addition, you do not have to keep up with outdoor maintenance.

There is a large social opportunity that comes with owning a condo. You have the opportunity to meet the other residents in the building. This proximity allows residents to build a community.

On the flip side, most condos are significantly smaller than townhomes and houses. If you have children or are working remotely, you may want to find a property that offers more square footage. Condos can feel cramped if you try to fit too many people into space.

Lastly, the onsite amenities offered by most condominium buildings is a huge benefit. These amenities can be enjoyed by all guests. From pools to fitness centers, maintenance crews to cleaning services, many people enjoy having access to these onsite services.

Townhome

Purchasing a townhome is a great option for couples and small families. If you are working remotely, townhouses allow a little extra space for working and living. Many townhouses have an allocated outdoor area in the form of a porch or small yard. Similar to condos, townhouses are much less expensive than the standard home. If you enjoy designing exterior walls and lawns, you have more control over the look of your townhome than you do a condo.

There are a few cons of purchasing a townhome. Typically, townhouses are part of communities that charge HOA fees. Although some neighborhoods have affordable HOA’s, others charge relatively expensive fees. Along with the fees, many HOA’s have strict guidelines about the exterior appearance of the houses. They may enforce color codes, regulations, and suggestions that restrict the amount of character you can add to your space.

House

A house is typically larger than the standard townhouse or condo. Houses can usually be customized internally and externally to match your style. With more lawn and outdoor space, you can deck out your patio with furniture from sites like Style Nations.

People typically purchase houses because they desire more space and want to live in a particular neighborhood. A house purchase is typically a long-term decision; people plan to stay in houses longer than they do townhomes, apartments, or condos.

Homes in popular neighborhoods are an investment. If you purchase a house in a growing area, you can likely make a profit when you sell your home in the future. By hiring the right real estate agent, you can ensure that the home buying process is flawless. Real estate agents help you find the best property based on school zones, interests, safety, and preferences.

Unfortunately, houses are a lot of work. Many people are stunned by the number of unexpected expenses they incur after they purchase a home.

Summary

No matter what type of property you decide to buy, homeownership is an exciting accomplishment. Whether you want to own a chic condo in the city or a spacious home in the suburbs, there are different options that work best for different families. When you purchase property in a thriving area, you can make a profit on your home in the future.