Millennials take a lot of flak for having killed the housing industry and disrupting the traditional trajectory of American life — that is, buying a home, getting married, having kids. For their part, Millennials say that the current economic climate is to blame for the decline of homeowners. And that claim isn’t without merit.

In fact, it takes an average of 14 years to save up enough money for a down payment on a home. In expensive cities such as San Francisco, San Diego, Atlanta, Boston, and Denver, the average homebuyer would have to save for an astonishing 30 years just to make the down payment — let alone to pay off the mortgage. It’s no wonder so many Millennials do not own homes. 

Some people are getting creative when it comes to affordable housing. Tiny homes, houseboats, and full-time RV living are all increasingly popular options. What about buying a house with a friend? Good idea or disaster waiting to happen? Let’s take a look.

Good Reasons to Consider Buying A House with A Friend

The entire process of buying a house — getting approved for a loan, finding the right house in a good location, making an offer, completing all the paperwork — can be daunting. So it’s understandable that you don’t want to go it alone. As such, teaming up with your BFF might sound like a super idea.

Your Pocketbook Will Benefit…

It’s not even necessary to crunch the numbers to know that joint homeownership is going to save you big bucks. After all, you only need to come up with half the down payment and half the closing costs. The monthly mortgage payment, the taxes, and the utility bills — all slashed in half.

Additionally, you and your buddy can probably get more house for the money when you throw your lot in together. After all, the mortgage lender will average your credit scores and calculate your combined incomes.

…and So Will Your Longterm Finances

As a result of splitting the costs, you could very well sock some money away for your future or pay down debt that you have already incurred. You will also gain equity the longer you make mortgage payments. This could enable you to get your own place one day.

Individuals with poor credit scores can often find it difficult to get approved for a mortgage. Joint home ownership can not only work to your advantage at the bank, but paying on a mortgage (or any other loan) is one of the best things you can do to rebuild your credit.

To ensure that everything is equitable, and to prepare for changing circumstances down the line, hire an attorney to draw up a binding agreement. This is not the kind of deal that can be sealed with a verbal agreement, a handshake, or a pinky swear. No matter how close you two are, there’s always a chance that your bond — and therefore your living arrangements — will go south.

Help Around the House

Living with a friend can be beneficial in practical, day-to-day ways, as well. If you can come up with an agreement to share or trade-off chores and home maintenance tasks, everyone wins. Maybe your pal is handy with tools, so she can perform repairs. In return, you take care of cleaning the common spaces or keeping the garden in tip-top shape.

It’s best to agree on the division of labor before entering into the situation, to avoid misunderstandings and even rifts in the relationship.

The Drawbacks of Buying A Home with A Friend

As with any major investment, there are plenty of ways that buying a house with a friend could go wrong. Here are some worst-case scenarios.

Co-Owner Structures

There are two options for an unmarried couple when it comes to owning a property together: joint tenancy with right of survivorship, or sharing a title tenants in common (TIC). In the first scenario, you own the home together. If Person A dies, his share of the home is automatically transferred to Person B without having to go through probate.

With tenancy in common, parties can divide the house into shares, with one owning a greater share than another. However, this also means that if Person A wants to, she can sell or give away her share of the property. Person B has no say in the matter. It’s conceivable that they could end up living with a complete stranger.

A Messy Situation

Of course, one major downside of this type of investment is that you and your friend-slash-co-owner will have a falling out. It can be extremely stressful to live in the same house as someone you have bad blood with or are avoiding altogether. 

If the argument is irreparable, it’s going to be much more difficult to extricate yourself from the relationship than if you were simply renting an apartment together. One of you could sell their share, in which case the mortgage must be refinanced in the remaining owner’s name. If they cannot qualify and therefore do not get financing, the other person will remain on the mortgage.

The other solution to an untenable living situation is for both parties to sell the house — with all of the stress, potential financial losses, and upheaval that selling any home entails.

Damage to Your Credit Score

What happens if your bestie has a financial crisis, such as incurring a major hospital bill or losing her job? Or unexpectedly needs to move across the country to take care of an ailing parent? Falls victim to addiction or goes to prison?

The mortgage company isn’t going to care if she splits and leaves you holding the proverbial bag. You are still responsible for the full payment amount even if the other owner cannot hold up their end of the deal.

Defaulting on your payments, or going into credit card debt as you rob Peter to pay Paul, is going to have devastating effects on your credit, your finances, and indeed your entire life. 

Never enter into an agreement like this one without spelling out all the possible scenarios and making contingency plans.

So What’s the Answer? 

Unfortunately, there is no definitive answer to the question of whether buying a house with a friend is a smart move. It depends on your position in life, your relationship with that person, and how much you have to lose. Some people benefit from co-ownership, while others become the protagonist of a horror story or cautionary tale. 

Want to check out some properties while you mull the pros and cons? Check out the homes and condos available in South Florida!

Did you know that 7% of landlords have been asked by a tenant if they can break the lease early?

This is only one of the typical requests landlords have to deal with. Unfortunately, when you own a property, you have to worry about a number of things not just tenants trying to break a lease. 

Read on to learn when it’s time to hire an on site property manager. 

1. Your Vacancy is High 

One of the main reasons why you should consider hiring an on site property manager is if your vacancy is really high.

When was the last time your property had no vacancies? If you’re a landlord with several properties, it might be difficult to devote the time to finding new tenants. 

If you fail to find tenants, your income might suffer and so will the reputation of your properties. Having a property manager on site means you will have someone devoted to finding tenants

2. You Don’t Get the Right Kind of Tenants 

When you’re a landlord, you want a tenant that will pay the rent on time, respect the terms of the lease, and stays out of trouble.

If your property has been attracting the wrong kind of tenants, it’s time to get an on site property manager.

A property manager on site will help you through the vetting process to ensure you get only the best tenants possible. Your property manager will gather all of the documentation necessary, conduct an interview, and run a background check. 

This will ensure your property only accepts the right type of tenant.

3. Tenant Complaints are a Pattern

Your job as a landlord is not only to collect rent at the beginning of the month. You have to also ensure your tenants are happy.

If your tenants keep complaining about the lack of communication or response to maintenance requests, it’s time to hire an on-site property manager.

Having a property manager on site will help address all tenant requests the moment they come through. 

If a tenant has a maintenance request, the property manager will be able to address it in a more timely fashion.

Lee West Building Maintenance and Refurbishment, for example, says the most common maintenance requests include clogged drains, leaking pipes, and no hot water.

4. You Don’t Have the Time or Live Near Your Properties

If you own several properties, you might not have enough time to manage all of them. Not to mention, you might not live near all of the properties you own. 

When you have several properties, it can be a full-time job to manage all of them. 

Instead of stressing out for not having the time to devote to your properties, you can hand off the responsibilities to an on site property manager. 

Reasons You Need an On Site Property Manager

Now that you know the reasons why you need an on site property manager, it’s time you search for one. 

You need a property manager when you’re dealing with high vacancy, your property attracts the wrong tenants, and you have many tenant complaints.

Ready for more tips? Check out the rest of our site. 

Sanibel Island and Captiva might be small but they boast a powerful portfolio of attractions.

Here you’ll find 50 miles of unspoiled white-sand beaches and a wealth of watersports to enjoy. There are also 25 miles of bike paths, nature trails galore, quaint shops, and fine restaurants to keep you busy during a visit. 

If this sounds like the kind of place you’d love to spend some time, start planning with this guide to finding the best accommodation. Condo rental is one of the most popular options when visiting this island paradise, here’s how to make the right choice. 

Know Your Preferences

You have so many options when choosing condo rentals in Sanibel Island and Captiva, so be picky when deciding what you want.

Consider the following factors:

Location is key. Do you want to spend time in isolated reflection, or are you looking for accommodation in the heart of the action?

Consider which activities and amenities are dealbreakers for you and which ones you don’t mind traveling for.

Are you willing to spend more to get sea views and plush lodgings? Would you rather spend that cash on exploring your surroundings and taking part in off-site activities? 

Do you prefer to cook your own meals, or is it important to have restaurants and cafe’s close at hand? 

Research Your Condo Rental Options

You’ll find plenty of vacation rentals websites with information about what’s up for grabs, so take the time to investigate the best option for you. 

Reading reviews is vital for getting real-life opinions about what’s on offer too. You’ll soon figure out which companies deliver on their online promises. 

A little investigation goes a long way to prevent disappointment. Don’t stick with the same old travel operator or online booking engine that you’ve always used. Often you can discover a hidden gem deep in the heart of the internet that isn’t affiliated with these major operators.

Always call the accommodation provider if you have any questions. It will give you a good idea about the kind of hospitality you can expect and dispel any fears you have about online fraud.

Spend Wisely & Be Flexible

Planning well in advance is the most important ingredient for any successful vacation. More time means more options to choose from, a greater likelihood of early-bird specials and a choice of when to travel.

The high-season for Sanibel Island stretches from winter to early spring i.e. December to April. Planning your trip slightly outside of these time frames means you’ll still get good weather at cheaper prices. 

Don’t book the first accommodation that catches your fancy, but don’t assume that cheaper is always best. Shop around and compare how much bang you get for your buck.

More expensive condo rentals may come with added cost-saving extras. For example, the free use of kayaks and bicycles or complimentary boat tours are sometimes included in the deal.

Explore More

Choosing an awesome condo rental on Sanibel Island is only one of the things to consider when planning your trip.

This popular destination has something for everyone. Make sure you include a chance to get active and appreciate nature during your travels too.

Keep reading our website for more interesting and sometimes amazing information for broadening your horizons and your mind. 

Investing in any kind of real estate property is an intimidating feat. Whether you’re purchasing your first home or if you aspire to make it big by renting your property out, you’re committing to a lot of work by owning it. Landlords face the most work of all.

Everyone thinks they know how to become a landlord — it seems simple enough. All you need to do is buy some property and then open for rent, collect fees from tenants, and you will have passive income, right? Nobody ever recognizes the risk that goes into those steps, or how much work it takes to be a good landlord.

Most importantly of all, landlords work hard to maintain positive relationships with their tenants. Paying rent can be humiliating for some people, and difficult for others. Managing relationships with people in the same way you maintain your investments are all part of the game!

Not everyone can play it well. Yet, if you know how to be a good landlord, you can make massive amounts of money and may even be able to expand into new areas! And to learn how to be a good landlord and play the real estate game well, just keep reading below!

Attract Tenants, But Treat Them Like Family

Everyone needs a place to live — that’s just one of the fundamental truths of life. That fact means anyone can succeed as a landlord because people will always need land to live one. All it takes is diligence and perseverance to make your name in a market, even if you don’t think it’s possible to succeed in one!

Yet, some markets are more competitive than others. In some markets, all you need to do is announce that you are opening your property for rent and people will come flooding in. These markets don’t usually provide people with many options on where to live.

Other markets give people options on where to go, and people will always choose the best. You can make sure that you’re the best choice for anyone by treating the people that come to you like family. By working to make people believe that you see your tenants as a family and as a community, they’ll never want to leave!

Real Estate Markets Are Cruel — Invest in Marketing

Real estate marketing is fundamental to any landlord’s success. While people are always looking for places to live, they’re not always very good at finding places. By investing in marketing for your properties, you can connect with more people who may have otherwise never found you.

There are several kinds of marketing you can invest in, too. Most traditional marketing, where you purchase advertising space and billboards, simply informs people that you exist. Content marketing helps boost your image as a market leader so that people will trust you more with their business.

Social media marketing connects you with your local community so that you can play a larger role in it. When it comes to marketing your rental properties, the choices are endless. And even investing in just one option is still better than choosing none and staying invisible to everyone.

Your Reputation Precedes You

A lot depends on your reputation as a landlord. If people hear that you aren’t trustworthy with rent payments, or that you neglect your properties, they won’t give you a chance. Yet, if they hear that you’re flexible with payments and work with tenants, they may end up getting excited to live in your properties.

And there’s a lot you can do to boost your reputation. For example, you can invest in a variety of amenities for your properties, to enrich your tenants’ experiences there. If you build a pool for your community of tenants, or if you purchase a laundry facility for them, you demonstrate your commitment to seeing them happy.

Word will get around that you’re a good landlord, and you will find more business as a result!

Maintain Your Investments, Make Them Homes

Working on your relationships with tenants isn’t the only thing you need to do to succeed as a landlord. You also need to work on your properties by maintaining and eventually expanding them. It’s important that you treat your buildings as if they were people and care for them so that they stand strong.

Not only should you try to maintain strong buildings to improve your business, but you should also do it to comply with the law. As a landlord, it’s your responsibility to make sure people have safe living conditions. So, if there’s an infestation in a building, or if it’s not structurally sound, you’re legally responsible for handling it.

Comfort is Quality, So Make Sure Tenants Are Comfortable

Maintaining your buildings isn’t just a legal responsibility — it’s also a savvy business move. When your buildings are well maintained, your tenants will feel more comfortable living in them. As a result, they will be more likely to pay fees on time and to tell people how much they enjoy living in your buildings.

So, make sure that your tenants are comfortable in their own homes. As the season changes, make sure that your buildings are well insulated with sealers like Speedliner, or another high-quality coating. Invest in infestation prevention treatments, and other preventative measures.

Always think about how your tenants feel living in your buildings, and make sure it feels like home to them!

Follow Up on All Tenant Requests

One of the most important things to do as a landlord to is follow up on maintenance requests. They do more than just help you follow the law and ensure that your buildings offer safe living conditions. Tenant maintenance requests can also notify you if something is seriously wrong with a building.

For example, a tenant complaining of a leaky faucet can be the first step towards finding a burst pipe in a building. Addressing it early will ensure no mold develops, and that you don’t need to condemn the whole residence. Always follow up on tenant requests — you never know how important they may be.

Knowing How to Become a Landlord Is Easy

It’s easy to read about how to become a landlord. In theory, becoming one just takes some simple, easy steps that anyone can accomplish. Yet, putting those theories into practice takes a strong and focused kind of person.

Becoming a landlord means opening yourself up to financial risk as you invest in properties. It also means a lot of maintaining your buildings as well as your relationships with tenants. Becoming a landlord doesn’t mean you can make passive income from rent; it means you will need to play an active role in your community.

And to learn more about how to buy and maintain properties that your tenants will love, just keep reading here. Our website is always updated with cutting-edge information about how to be the best landlord you could possibly be!

Property prices in Dubai are down 30% from their peak in 2014. 

This area remains a popular region when it comes to tourism and business, so there’s a good chance that prices will rise soon. Thus, if you’re looking for an investment opportunity, buying property in Dubai might be a good option. 

Below you’ll discover some tips on how you can buy property in Dubai. If you want to benefit from the current dip in the Dubai property market, this post will show you how to get started. 

Let’s begin!  

Why Are You Buying the Property? 

Your reasons for buying a property will have a significant impact on the location you decide to invest in.

If you’re just looking for a holiday home, you probably don’t care as much about the property rising in value. Following this, you may be OK with buying a property that’s in one of the quieter areas of Dubai. 

However, if you’re buying a property with the intent of making a future profit, you should invest in apartments that are in popular regions. 

An example of this might be an apartment in the AG Tower, which is located in the “Business Bay.”

Property in this region will likely rise in value, or at least remain steady since the area is so popular. This increases your chances of making a profit, should you later decide to sell the property. 

Due Diligence is Important

You should try to investigate a property in person, before handing over any money.

Yes, traveling to Dubai can be a difficult task, but it’s often worth taking this step. Otherwise, you may be duped by a property developer that has sold you a flat that doesn’t even exist yet! 

If you come across a promising property, think about hiring a property surveyor. This individual will be able to give the property a once over, and they can then tell you if there’s anything wrong with it. 

Hire a Local

If you want to avoid mistakes, it can be a good idea to hire a local expert. 

This individual will have a good understanding of the rules you need to follow when buying a property in Dubai. After all, you don’t want to end up with a steep fine because you forgot to fill out a piece of paperwork.

A local expert will also know how you can take to protect yourself from bad deals. That’s because they likely have a bunch of other clients in your position, so they’ve likely developed a few best practices. 

Time to Buy Property in Dubai? 

If you’re looking to buy property in Dubai, the tips in this post should help you get the ball rolling. 

Buying property in this region can be complicated, and so it’s vital you don’t rush into anything. 

You may encounter a seller that’s pressuring you into a deal, and they may tell you that they have other buyers lined up. If that happens, don’t play into their games, and take all the time you need. 

Yes, there’s a chance that you might miss out on a good deal. But bowing out is often better than getting caught up in a lousy deal that affects you for years to come. 

Did you enjoy this post? If you did, make sure you read some of the other content on our site! 

Home is where you feel protected. And your homeowner’s insurance protects it should an accident or natural disaster strike.

Or does it?

It may surprise you to find out not everything falls under insurance coverage. If you don’t know what your policy includes — and excludes — you could be the one left paying out of pocket.

So what does homeowners insurance not cover? Let’s look at 8 surprising things not covered by homeowner’s insurance.

1. Flood Damage

If Mother Nature decides to dump several inches of rainwater in your area and it seeps into your home, you may be out of luck. Without a separate insurance policy for flood damage, you’ll be the one left paying for repairs.

Be sure to read the fine print in your policy because there’s a difference between flood damage and water damage. Most insurance companies don’t cover surface water that enters your home from the outside.

If flooding is a problem in your area, talk to your insurance agent about getting the coverage you need.

2. Mold

Mold not only causes damage to your home, but it’s also a health hazard to your family. Because of that, it can be expensive to both remove and repair the damage it leaves behind.

If you have a standard homeowner’s policy, your coverage for mold may be limited to non-existent. Most of the time you have to pay more in premium fees to be fully covered.

The best way to protect yourself from mold damage is prevention. Make sure to get a full home inspection when you buy the house and watch for any water damage that develops.

3. Damage Due to the Earth’s Movement

When the earth moves, you could be the one left paying the bill. Earthquakes and sinkholes are scary, but even more so when you find out the damage they cause isn’t covered by your policy.

Most standard homeowner’s insurance requires a separate policy to cover needed repairs caused by the earth’s movement. If you live in an earthquake-prone zone such as San Francisco, that policy is quite costly.

People who live in Florida are in luck. It’s the only place that includes this type of homeowner’s insurance coverage. To find out what claims are common in the Sunshine State, you can visit this page.

4. Sewer Backups

A sewer backup is the stuff of homeowner’s nightmares. The mess, damage, and smell it leaves behind takes a lot of work and money to clean up.

Usually, you have to request the sewer backup coverage and need to pay more to have it as part of your policy.

To prevent the backup from happening to you, replace your pipes to new plastic ones to keep tree roots from blocking the line. Never pour grease down your drains or flush too many paper products. You can also install a valve in the line to prevent backups.

5. Normal Wear and Tear

Part of home-ownership is taking care of your home’s maintenance. And while wear and tear is normal, any damage caused by owner neglect is not covered by a homeowner’s policy.

For example, if your roof is 50 years old and receives hail damage, your insurance company likely won’t cover it because the roof should have been replaced a long time ago. You can’t overlook regular maintenance then expect the insurance company to pay when something happens.

Your best form of protection is keeping up with the home’s maintenance. Follow a seasonal checklist to keep everything up to date. And keep records of your work to show your insurance company in the event you need to make a claim.

6. Construction Work Damage

You’re finally getting that home remodel you’ve always wanted! The house is full of construction and utility workers, but what happens if they cause damage to your home?

Accidents do happen, but chances are your policy won’t cover the cost. Any repairs needed will come out of your pocket, which could blow your remodeling budget.

You can get extra coverage to your insurance. But if you hired a contractor, make sure they carry liability insurance. That means if their crew damages your home, their insurance is the one that will pay for repairs.

7. Pest Infestations

Tiny little creatures can cause major damage to your home. When termites, mice, carpenter ants, or other pests invade, your homeowner’s policy won’t help.

Pest infestations are part of your home maintenance. Therefore, it’s not something an insurance policy will protect you from.

In order to protect yourself, apply DIY treatments around the home to keep the critters out. If you find they’ve made their way in, call in a professional exterminator to take care of the issue before they cause too much damage.

And if you’re in the process of buying a new home, have a home inspector thoroughly examine the house for any pest damage.

8. Expensive Items

When you have valuables in the house, most homeowners assume their homeowner’s insurance will cover it should their things get stolen or damaged. Unfortunately, they find this isn’t always the case when it’s a little too late.

A typical insurance policy has limits on coverage for items such as jewelry, antiques, and cash. Base coverage can range between $2,500 to $5,000.

If your items are more expensive and want them as part of your policy, you’ll need to purchase extra insurance or get a separate policy. Getting a fireproof safe to store them in is another layer of protection you can add.

Protect Yourself by Knowing What Does Homeowners Insurance Not Cover

You don’t want to be caught by surprise when your homeowner’s insurance denies a claim. By knowing what does homeowners insurance not cover, you can have peace of mind knowing your home is fully protected if something should happen.

Ready to take on home-ownership in the Miami area? Check out our newest property listings! We can help you invest in the property of your dreams.

Though the field is small, those who study and love history are passionate about it. They understand that we’re still part of this history and are living it each day.

Historic homes are a relic that these history lovers celebrate and cherish. Some were built in the 18th century when the US declared its independence while others were built during the Civil War. This diversity means there are historic homes out there where every history buff is sure to feel at home.

And why shouldn’t you make these your home, if you love history? There are a lot of historic homes for sale on today’s market. Read on for a guide on buying a historic home and to learn about how you should go about making one your own.

Know What You Want

Before you start looking for the perfect historic home to relocate to, consider the eras of history that you most love. Is there a specific century or decade that you’re most interested in? What about an area?

Knowing exactly what you want and where your interests like are important in picking any home. If you go into shopping for real estate blindly, you’re more likely to end up with a home that you aren’t really that into.

Don’t let this happen- do your research!

Look for Deals

You might be worried that a house with so much history is far out of your price range. In reality, though, there are historic homes that are just as easily affordable as other houses on the market.

There are a huge variety of historic homes for sale that you can look into when you’ve decided to move. These places are affordable, well-built, and in good neighborhoods, so why wait to close a deal? You, too, will become a part of history when you make one of these houses yours!

Learn About Your Home

So you’ve decided on a historic home- great! You’re probably feeling really awesome right about now, and it’s time to ride that high and learn more about your new house. While you probably know a lot about the era that your new home stems from, you may not have looked into the specific home itself.

Well, now’s the time for that! Go online and look up the history behind the place that you’re about to call your own. Talk to others in the area about what they know about it. Chances are, you’ll hear some pretty awesome stories… and love where you live even more.

Buying a Historic Home

If you’re a history buff, living in a historic home might sound like an unattainable dream. This isn’t at all the case, though! Owning and living in one of a house that holds layers upon layers of rich stories has never been more possible.

Now that you know what to do when buying a historic home, check out the ‘commercial’ tab on our page to learn more about what’s for sale on the housing market. 

Have fun!

Given the increasing amount of gun crime and mass shootings in the United States, making sure that your business or other properties are protected is crucial. One of the more subtle methods of improving your security is the installation of bulletproof glass. To find out more about bulletproof glass and how it works, check out this simple guide!

How Is Bulletproof Glass Made?

Bulletproof glass is used in places like banks, casinos, and betting parlors. The glass allows the people behind it to exchange paperwork and money in relative safety. Unfortunately, given the recent increase in gun crime, regular people are seeking out measures to protect themselves, including bulletproofing their homes and cars.

Regular glass The reason that regular glass can’t stop bullets is its lack of flexibility, which prevents it from absorbing energy. Since regular glass doesn’t provide any reduced momentum, the bullet is unaffected and goes right through.

Bulletproof glass resembles is Bulletproof Glass glass for all intents and purposes, but its unique composition is what makes it effective. While each manufacturer has a different spin on the process, the basic method for making bulletproof glass involves lamination.

Polycarbonate is a transparent plastic that is resistant to breaking, which provides the majority of the protection for bulletproof glass. A layer of polycarbonate is placed between two layers of regular glass, which will stop bullets from going through by absorbing the bullet’s energy. The middle layer is what prevents the bullet from exiting through the second layer or regular glass.

What Kind of Bulletproof Glass Is Right for My Needs?

While bulletproof glass is the common name for this product, a more accurate term would be bullet-resistant glass. If the bullets that hit the glass are powerful enough or if there was an error in the manufacturing process, the glass will break.

It is important to note that the thickness of the bulletproof glass makes a big difference in the level of protection for your business or other property. To be able to withstand a shotgun blast or a rifle shot, the glass must be made thicker and with more resistant materials

The general rule for bulletproof glass is the thicker it is, the heavier it is. However, thicker bulletproof glass is necessary to protect against larger caliber bullets, so you will need to consider where it will be installed.

One important thing to consider is the level of protection you need for your building, vehicle, or prefabricated shelter. If you are thinking of installing bulletproof glass in a car, you will need to take both the weight and opacity into consideration. Not only is bulletproof glass heavier, but it is also harder to see through, which could lead to issues with vehicle tint laws.

Buildings are far better equipped to withstand the weight of more massive bulletproof glass. If you are looking to create a safe room or another kind of shelter, Shelters Direct has all the answers you need to construct your ideal shelter.

Make the Right Choice to Protect Yourself and Your Business

While the current rate of gun-related crimes shows no signs of stopping, you need to make smart decisions to make sure your family and assets are safe.

To learn more about installing bulletproof glass, keep browsing the rest of our site today!

5.25 million existing homes are projected to sell in 2019. Do you know what almost all of those millions of buyers have in common?

They are represented by buyer’s agents.

When people are discussing real estate agents, conversations are generally centered around listing agents. These are the people that help sellers get the highest possible price for their houses.

A buyer’s agent is another kind of real estate professional that represents the party that’s looking for a house in a home transaction.

While homebuyers can purchase a house without the help of a buyer’s agent, it’s not recommended given the amount of assistance that these specialists can offer.

Below, we touch on 8 ways that hiring a buyer’s agent can benefit you.

1. They Find You Prospective Properties

Look no further than your favorite home buying app to see that new houses pop up on the market every day.

And guess what? Those houses that you see pop up on Zillow, Trulia and other popular applications don’t even come close to showcasing everything that’s available.

In order to see every single house that’s for sale, you’d have to use a tool called a Multiple Listing Service (MLS) which only licensed agents can access.

When you hire a buyer’s agent, they can scan the MLS on your behalf to flag properties that you otherwise would have missed.

2. Agents Understand the Real Estate Market

Buying a house can be a very confusing experience. These feelings of confusion are exacerbated by all of the news that you’re inundated with about “markets”.

Is it a buyer’s market? Is it a seller’s market? Is the real estate bubble going to pop soon?

Rather than sweating all of that stuff on your own, a buyer’s agent can help you make sense out of what’s going on in today’s real estate world and how that affects you.

That access to information by itself justifies a buyer’s agent’s position on your team

3. An Agent Can Help You with Financing

While buyer’s agents are not financiers, they do know a lot about the home financing process. After all, if their clients can’t get financing, buyer’s agents aren’t going to be able to earn their commission.

Agents can inform you as to which loan options exist, how to best approach getting financing per your unique financial situation and may even be able to recommend lenders that they’ve worked within the past.

4. Agents Get Special Access to Showings

Have you ever walked up to a house that was for sale and saw a funny looking padlock on the front door? Those padlocks are hiding keys to the house.

Want to get your hands on those keys so you can tour the property? 8 out of 10 times, you’re going to need the help of a buyer’s agent.

Buyer’s agents have connections in their community which enables them to call a house’s rep and obtain the code needed to undue padlocks for the purpose of conducting showings.

Even if a house that you’re interested in doesn’t have a padlock on it, buyer’s agents can make calls to get the house’s listing agent to drive out and unlock the doors for you.

Bottom line: With the help of a buyer’s agent, you’re going to see more homes, faster.

5. They Can Help with Contracts

Once you’ve found a house that you like, paperwork is going to start to roll in.

There’s offer paperwork, home disclosures, assessment reports and more that you’re going to have to look over in order to eventually close the deal on a house that you’re looking to buy.

Rather than fumbling through all of the paperwork that gets dropped on your lap, your buyer’s agent can walk you through things and help you fill documents out.

Not only will that save you time but it will also help you avoid making a paperwork mistake that could cost you a deal, or worse, your money.

6. Your Agent Will Negotiate on Your Behalf

The most intimidating aspect of the home buying process is negotiating.

Nobody that buys a home ever wants to pay full price. Nobody that’s selling a home ever wants to drop their price.

In order to find a middle ground between those two desired outcomes, discussions need to take place that have a tendency of getting heated.

Rather than arguing about prices and contingencies on your own, leave the stress to your agent who will be able to use their experience to get you the best possible deal.

7. Agents Won’t Cost You a Penny

No. That wasn’t a typo.

The cost to you for all of the incredible benefits that a buyer’s agent can bring to your home buying process is nothing.

As you discover more about these agents, you’ll come to find out that they pull their commission from seller’s earnings.

Given that fact, there is literally no reason why you should ever go out to buy a house without an agent standing in your corner.

Our Final Thoughts on Buyer’s Agents

A buyer’s agent commonly represents home buyers because they bring a lot of value to the table and ask nothing of buyers in return.

We hope that we’ve effectively answered your questions regarding buyer’s agents and we wish you the best of luck as you search for the home of your dreams.

If you’d like to learn more about real estate, our website is an outstanding resource.

Continue browsing the wealth of free information that we upload to our blog on a weekly basis to keep fulfilling your need to know!

The average rent in New York City just climbed to $3,017, and New Yorkers are (rightfully) freaking out.

So why is rent in the big apple as high as the Empire State Building? Keep reading to learn why living in New York is so expensive. 

There’s Only So Much Space For Living In New York 

There is only so many square miles of land in Manhattan, and lost of people want to live in such a limited space. Because of this, the rent prices can skyrocket.

If there were more land and more open places to live in Manhattan, then the prices wouldn’t be that high. It’s basic supply and demand. To understand this more, check out this piece on BiggerEquity. 

Which explains why more and more New Yorkers are moving to Brooklyn or New Jersey and commuting into the city for work. 

The Zoning Rules Are Inhibiting The Supply 

There could be more apartments if there were taller buildings closer together. While New York is dense compared to other cities, it could still be much denser.  

Just look at the zoning of the popular neighborhood the East Village. Most of this neighborhood has R74 and R8B zones, which allow for a Floor-Area Ratio or FAR of 4 to 0. Which means four square feet of the building is allowed for every square foot of lot area. 

So most of the housing stock in the area is a closely-packed building of only four or five stories, due to zoning. If zoning allowed higher buildings, then there would be more places to live in this popular neighborhood. 

Rent Control 

Rent control actually raises the rent if your apartment isn’t rent-controlled. The average rent for available apartments in New York City is over $3,000. But in 2011, New York City renters were paying a median rent of  $1,125.

This is because there are a lot of cheap apartments in Manhattan. The only problem is New Yorkers can’t get into them because they are rent-controlled. Tenants that have great rent-controlled deals will literally cling to their apartments until they die. 

High Property Taxes 

Another reason rent is so high in Manhattan is because property taxes in New York are so high. Manhattan has the second-highest property tax amoung the largest cities in the country.

Detriot has the highest property tax, and this is because their property isn’t worth anything. This high property tax is why tenants have such high rents. 

High Construction Costs

In 2003 it was found that residential construction is nineteen percent more expensive in Manhattan than Chicago. Higher construction costs mean that the rent of the newly constructed property will be higher. 

There’s a lot of reasons why construction costs are so high in New York, One reason is wages for New Yorker construction workers is high. A lot of New York construction sites do not have a lot of spacious lots to store materials, which also adds to this cost. 

Rent Today 

Now that you understand why the rent in Manhattan is so high and living in New York is so expensive, find the place within your budget to rent or own today.

For more resources on properties to rent, or help finding your next home, contact us today!