3 Useful Tips to Invest In Property in Bali

August 10, 2018

Real Estate

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The property market in Bali has seen significant growth in recent years. A major reason for the property transformation is the boost in the country’s tourism that has seen more people visiting this island destination. Many of the properties are modern and outfitted with state-of-the-art amenities, which make them very interesting to foreign investment.

A modern villa is certain to make a very appealing place for retirement or even a source of rental income. However, there are many rules and regulations in place in regards to foreigners purchasing property in the country. Let’s take a look at a few key points to consider:

Learn the property ownership structures

The property market in Indonesia is a lot more open to foreign investors than in the past. At one point, the country had laws in place to prevent foreigner ownership. They date back to the time of gaining independence in 1945 after a long period of colonial rule.

However, there are still several ownership structures in place that determine the right to own property. The options that are most feasible to foreign ownership are Leasehold (Hak Sewa) and Right to Use (Hak Pakai). Either of these options is basically as good as having the option to own. For instance, a leasehold certificate can last for a period of up to 80 years.

Additionally, there is the need to show to the Indonesian government that you have an intention to invest, work or live in the country in order to get permission to purchase property.

Use a local real estate agent

If you are looking to invest in Bali’s property market, it is essential to use the services of a professional real estate agent with the right knowledge and understanding of the local laws. Using a local will avoid any misunderstandings when it comes to language skills. Also, the legal system in Indonesia is quite complex, so you will find hiring the services of a local lawyer to be very useful.

Research the property market

With the boom in the local property market, there are several areas that have seen a soar in the land and property prices, such as parts of Petitenget, Seminyak and Kuta. For this reason, it may benefit to look at investing in other areas that present the most favorable returns on the investment. A few of the less saturated places include Tabanan, Canggu and South Kuta. Also, there are plenty of nearby small islands that can offer a great investment opportunity. Make sure to put in the time and effort to identify the best areas that match the available budget.

The Benefits of Using a Second Mortgage

August 10, 2018

Mortgage Refinance

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A second mortgage is a secondary loan secured against a property. If this loan goes into default, the initial loan must get paid off first. These loans are taken for a variety of reasons and are commonly used as a source of emergency funding.

A mortgage can either be taken out as an installment loan or a revolving line of credit. In all types of home loans, the homeowner puts up equity in the property as collateral. For an installment loan, the loan must be repaid in fixed amounts over a fixed period of time. A line of credit on a home is similar to a credit card, but it is secured by the equity in the home. Home equity is typically the main factor for financing approval but in many cases, a high credit score improves your chances of being approved. This kind of loan is worth considering if one needs to borrow a large sum of money at a low rate.

How to qualify for a second mortgage

Lenders have different methods of assessing loan applications but it basically involves analyzing the homeowner’s equity, job history and credit score. Lenders must see that the applicant has ample credit score as well as sufficient equity in order to approve a loan. If a client’s credit score is below the banks’ requirements, they can only get the assistance of private lenders who prioritize home equity more than one’s credit score. Private mortgage lenders will divide the value of a property with its debts to get a metric known as LTV. The result should be 85% or less to get a mortgage as the lenders are sensitive to low equity amounts. Lenders have a high chance to lose their investment on high LTV mortgages if the loan goes into default. While equity is important to private lenders, some also consider job history.

Uses of a second mortgage

There are no restrictions to what you can do with the money so mortgages are preferred by customers to handle various financial obligations. People have several ways of spending the money but mainly:

• Paying off Debts: You might have a number of high-interest loans bogging you down each month. Instead of trying to keep up and risking penalties, you can get a new mortgage to pay off multiple loans and pay lower monthly rates.

• To keep up with debt payments: The second mortgage allows homeowners to avoid defaulting on their other loans. The money can also be used to bring an existing mortgage back into good standing if the homeowner has defaulted on their first mortgage.

• For home improvements and repair: A property secured loan can be helpful if you need to repair or make home improvements. Repairs and renovations ultimately increase the value of a property and allow you to sell it at a better price than similar properties. Extra equity gained from strategic home repairs could also qualify you for affordable loans in future.

Second mortgages are a good low-interest way to gather money

In summary, a second mortgage is a flexible financial tool and can be tailored to address a person’s unique needs. It makes sense to have a single secured loan at low interest other than multiple credit cards with high monthly interest rates. To gather emergency funding, you can get the cash needed. Unlike credit cards, mortgages are an ideal low-interest way of getting money for university tuition, remodeling a home, paying emergency medical bills or funding a business. These types of loans may come at slightly higher interest rates compared to first mortgage but they are certainly cheaper than credit cards and unsecured loans.

5 Tips to Consider When Refinancing Your Mortgage

August 10, 2018

Mortgage Refinance

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Here are 5 tips to consider when refinancing your mortgage.

Is it the right move?

When conditions are right, financially and economically, you might be considering a refinance of your mortgage. Before you jump into what seems like a good idea, it’s best to know exactly what the refinancing process is, and just what it entails. You should know that when you are going to refinance, it involves starting the loan application process right from the start, as if you are buying a new home. Will you be taking the loan with a new lender, setting up a new deal, or should you shop around and see what’s on offer from other loan providers? The best person to lead you through what is now a veritable minefield of lenders, is your mortgage broker. They are far more up to date with what’s on offer than if you spent hours scouring the internet looking for the best deals.

Why Refinance?

What are your reasons for refinancing? There could be a variety of reasons. Lower interest rates on offer? A difference of a point or two in the rate may seem small when you look at it, but that couple of points can save you thousands over the years because your repayments will go on for 15 to 30 years for a typical mortgage.

Another reason some may decide to refinance is to get a shorter term, which also saves thousands of dollars. For example, things have never looked rosier personally, and both you and your partner are working, and your income is higher. So, a change in your financial situation can be used to save money on higher monthly payments. Conversely, you might be after a lower monthly payment or have that fixed rate changed to a variable rate, or vice versa.

Refinancing Costs

There are some obvious things to look at when considering refinancing. One of the first things is the actual cost of refinancing. Look at the fees you will be paying and divide it by the months of your mortgage and see whether there is a saving as a result of the refinancing. Sometimes you are ahead straight away, other times you might have to work out when you will hit the break-even point.

Penalties

Are there any penalties in your mortgage terms and conditions that apply if you pay out the mortgage early? Lenders do NOT like mortgages paid out early. Remember, when you refinance, you are paying off one loan and applying for another completely new loan. Add any penalties to your total costs for refinancing and calculate that break-even point again. Be certain that you are not losing money overall when you refinance.

Your Equity

An important factor in this whole process is to work out the equity you have in your home. A negative equity is when you owe more on the home than what the house is worth. If you have been in your home for a number of years, the annual increase in your home’s value will stand you in good stead. But if this is a refinance taken out after only a short time into your mortgage, price fluctuations may have worked against you. If your lender is offering less than the equity, you will not be able to get the refinance, unless, of course, you have the money to pay the difference. Current markets indicate an overall rise in prices, but there have been some downward movements as well over the year and that may have had a negative effect on your home’s value.

See your Mortgage Advisor

With so many variables to look at with a refinance, you can get some quick answers by putting it into the lap of your Mortgage Choice advisor who probably got you the initial loan. With up to date calculators and current interest rates available from many lenders, you can get a fast answer to any refinance query.

Commercial and Residential Real Estate in NCR

August 10, 2018

Commercial Property

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Commercial Property

Commercial Property consists of any property which can be used for commercial purposes which generate income such as retail shops, office spaces, food courts, cineplex, parking structures, conference plazas, warehouses, factories, IT Data Centres, & other shops. They are different from property that may be used for residential or agricultural purposes that although may generate income, are primarily developed for personal, not industrial or commercial use.

From an investment point of view, there are several advantages of investing in a commercial property than a residential property in India. They include:

  • Commercial properties are generally developed after a lot of research. The developer takes into account things like cost of land acquisition, construction and other costs to derive their profit margins. The property is thus generally at a location that is easily accessible and well connected, amid a catchment area with few competing projects.
  • It is easier to lease commercial property for longer duration to corporates creating stable, assured rental income for life.
  • A large office space can be divided into smaller sections if need be, ensuring financial viability of the investment.
  • Property management in commercial properties can be managed by professionals and be paid by tenants ensuring reduced stress for the investor as compared to a commercial property.
  • The return on investment on a commercial property is generally between 9-21%, while for most residential property investments the returns are 1-3%.

Speaking specifically about the Real Estate Sector in the National Capital Region, the residential property rates are stuck at the 2013-2014 levels. There is massive inventory with the developers with some reports suggesting it might take over 4 years for the inventory to clear.The commercial property sector meanwhile is faring much better with prices up nearly 45% from 2013 levels and vacancy rate below 5% in many micro pockets in Gurgaon. The demand of office space from corporates, ITeS, and retail are the key drivers of this phenomenon.

Residential Property

Residential property is should be the property one buys for their own personal needs. Various types of residential properties include Villas, Apartments, Luxury Condominiums, Bungalows, or plots of land which one plans to develop later. Generally, a person buys residential property only once or twice in their lifetime. Hence one should take their time researching about the property and do so with a clear picture of their current and future requirements in their minds.

Some requirements of residential property are:

  • It should be in a residential area. Buying a residential property in a commercial area makes little sense as one would be constantly disturbed by noises of vehicles coming and departing, of factory activity, and other commercial activities. From a security point of view too, a commercial area has a large floating population which is difficult to monitor.
  • It should be free from all claims and liens. Buying a property without doing due diligence is asking for trouble. At any point someone may stake a claim or raise objections which may take years to settle later and cost a fortune in legal fees.
  • It should be a quality construction. If buying built up property it is essential to check the builders previous projects and have an independent inspection of the property from professionals to assess quake resistance and take ample measures to prevent water seepage from cracks and joints.
  • It should be close to amenities. A recent research has found that most of the house buyers are young couples as their parents already have a house of their own. Independent nuclear families who plan to have children in the future and a big thing to plan for in India is the school where the children will go to. In fact people give more weightage to having a good school nearby than to markets, religious places, and even hospitals.
  • Other things to look for are the price of the property, law and order condition of the area, water and electricity supply to the property, & distance from work among others.

So we see that the two different types of properties cater to different people with their own needs. While the commercial property is bought with an aim to invest & perhaps either rent or sell later, a residential property is bought primarily for self. In both cases it is important to identify the needs or the reason for buying the property, doing due diligence, partnering with the right developer who is honest, has the expertise, and understanding of the local market to get you the best possible deal.

Factors You Cannot Ignore When Buying Commercial Property

August 10, 2018

Commercial Property

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Buying commercial property from where to run your business can be one of the best decisions you make especially on costs. It is a much better choice cost wise compared to properties on lease or rentals that can be quite pricey. It is however important to remember that commercial real estate carries more risks compared to buying residential property hence you need to do your research thorough and run a complete analysis before making the final choice and going through with the buying process. Below are some of the factors you should never ignore when hunting for commercial property for your business.

The location

This is very tricky because no one can predict what will happen in the future. The location that looks lucrative today may not be the same tomorrow and you need to tread very carefully for the sake of the business. Consider trends of past businesses in the same area even if you are targeting a new property. You also must evaluate the location in relation to your suppliers and end users Accessibility, not just for you but also for the end users is very important just as is connectivity. Never jump onto a property you like without seriously considering its location.

Modification restrictions

There may be property laws applicable to restrict modification or the property interior or exteriors and you need to be completely aware of this when buying. Start by knowing what your business requirements are the look and the laws and study them well to find out what is allow and what is not allowed legally. It is also important to remember that you may have some maintenance costs to deal with and you are better off being aware of this beforehand.

Support services

They are what will help in the smooth running for your business and in the end will impact on the resale value when the time to sell comes or rental value for that matter. These services include security, lift and parking among others and you should look into them before finalizing your deal on the commercial property. Find out what services are most important for the business and choose accordingly. A property that comes with them all will save you costs of putting what you need in place.

The neighborhood

Apart from having the potential for business growth, the neighborhood should have basic utilities available. You really cannot run your business well without proper drainage, water and electricity. It also helps to look at the infrastructure development within the area because such can impact on your business positively and also negatively. Such developments will impact property value too in the future. For instance a railway construction can bring in accessibility to your business but then again you may have to keep up with lots of disruptions every time the train passes by. Find out what impact the developments around the property will directly have on your business and be open to other possibilities too.

Choosing Between A Condo And Apartment – One Is Definitely Better

August 10, 2018

Leasing Renting

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Energy Efficient Elements

Energy-efficient windows and flooring offer many benefits. The windows easily reduce the damaging rays of the sun, but still allow the useful rays without the UV. UV causes floors and other elements to fade and sometimes warp. Energy-efficient flooring like bamboo, treated laminate and concrete are durable and last much longer. In fact, they hold the heat in winter and deflect it in the summer for a more comfortable interior.

Gyms

There’s no excuse to avoid health and fitness when there’s an on-site gym with cutting-edge machines available to active adults living in the luxury condos. It’s easy to get and maintain a perfect body weight and grow older gracefully. Plus, there’s no reason to pay for an expensive gym membership that will likely never be used. It’s even possible to meet a workout buddy!

An Amazing Pool – No Maintenance

Just swing in for a dip with luxury condo living when there’s a pool or Jacuzzi available. Usually the pool area is resort-style, making it feel like residents are living in a vacation world. Pools may have waterfalls, slides, floats, cabanas, rills and more. This makes it easy to chill after a long, hard day at work.

Further, there may be both adult and children’s pools so that the ambiance is exactly what one desires. Luxury condos are all about pleasing their residents and they pay close attention to the needs of all ages.

WiFi

Connectivity is a definite for anyone, whether they are connected 24/7 or just occasionally. Luxury condos often have WiFi zones to access social media and work-related information. They may even have a café to get a latte while browsing or working.

Common Areas

In addition to WiFi cafes, condos offer many common areas to meet neighbors and grab a cool drink after a long day. Even a foyer is a comfortable place to plant oneself and just get out of the house for a bit. The ambiance is usually second-to-none.

Much like the pools, common areas for kids may exist. They can feature books, a DVD library or planned events that offer a family friendly atmosphere that keeps kids engaged and the whole family having a blast. This is great for those who are parents, as it gives them a break.

Ultimate Customer Care

Many sing the praises of the customer treatment they get at their luxury condos complex. They will be there at the drop of a hat to help when something needs helping. This means fast response and catering to the needs of the residence in order to match all the other amenities offered. It’s great to feel like a celebrity!

Recycling

Concerned about the environment? It’s a sure fire bet that luxury condos will offer programs allowing every resident to recycle bet it for plastic, metal or paper. Making this option present shows they care for residents and the environment which is something to be proud of.

Garages

Keep a personal vehicle safe and have a private entry to the luxury condo with a private garage. This also means extra storage space. Many apartments don’t offer garages; they are more common with high quality living.

Reduced Maintenance

Save money when owning a luxury condo, as the property management will take care of any maintenance and do it in a swift manner. They want to upkeep the property and will be more than attentive to these needs. Plus, the cost for maintenance is far less than in a private home. This usually includes remodels, landscaping and appliance replacement to name just a few.

Developed by the Yorkton Group International and built by Chandos Construction, these brand new luxury condos are a cut above anything in the area. The Bentley Condos are built with the owner in mind, knowing they are after a stunning design with the best finishes, Smart Home features, heated parking, and energy-efficient windows. Living in luxury was the goal in creating these condo homes. Employing the best engineers to design them has put them a cut above any others. Anyone living in Edmonton and looking for a new home owes it to themselves to check out what the complex has to offer and learn about how they can make choices that will have it well within their set budget.

8 Tips to Help You Look For Your Desired Apartment

August 10, 2018

Leasing Renting

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When you are looking for an apartment, you may want to consider a few important amenities, such as public transportation, in-unit dryer/washer and so on. What you need to do is check out more than one apartment before you decide on one. Since renting an apartment costs a good deal of money, make sure you make this decision after doing your homework. Given below are a few tips that can make your search easier.

1. Set a Budget

Don’t ignore the rental price when you see an apartment that features a big living room, amazing window views and the right location. So, it’s important that you decide on a budget prior to starting your search.

What you need to do is find out what you can afford. For this purpose, you should consider other expenses, such as social activities, gym membership, utilities and groceries.

2. Consider the season

In summer, the rental price may be higher than winter. So, it’s important that you take this factor into account when making a decision. If you are on a budget, we suggest that you look for an apartment in winter months, such as February, March, and December. During these months, the demand is low. So, you can get a better accommodation for a lower price.

3. Make a short list

Although it’s a good idea to visit each place on your list, it can waste a lot of time. There is another time-saving method of achieving the same purpose. You can search for your desired place on the Internet. You can make a short list of apartments and then visit each in person based on your schedule.

4. Get Organized

When looking at several options, it may be hard for you to organize the details, such as contact details, deposit amount, rental rates and other amenities. So, it’s a good idea to put together a spreadsheet.

5. Go See an Apartment with Your Roommate

If you are going to move with a roommate, make sure you take them with you to see a place. This will save you a lot of time. After seeing the house, you can discuss it together, which will make the decision process easier for you.

6. Consider the Public Transportation

When looking for a place, you should consider its proximity to the most important thing: public transportation. This can help you save money on maintenance, car insurance and gas, thus making it easier for you to collect money to pay the monthly rent.

7. Ask About Discounts

Based on the type of residence you want to rent, you may want to benefit from move-in discounts as well. For instance, if you sign up for a year or so, you may get to stay in the apartment for free for the first month.

8. Find out About the Average Energy Costs

Make sure ask about the average energy costs for the apartment. After all, you don’t want to pay half of your salary to cover your energy expenses.

In short, make sure you consider these tips when looking for your desired apartment.

Top 7 Reasons Why You Should Consider Investing In Las Vegas Real Estate in 2018

August 10, 2018

Real Estate

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What U.S. city will boom in 2018? If you’re placing bets, you’d be wise to look deeper into the Vegas market which happens to be red hot at the moment with no real signs of slowing down!

The Greater Las Vegas Association of Realtors announced that at the end of November 2017, the number of unsold housing units for sale had fallen 30 percent over the past year, representing less than two months of supply. Prices have responded, with Las Vegas joining Seattle as the only two metros with home prices growing by double digits over the past year.

*More here from the Bloomberg.com report: https://www.bloomberg.com/view/articles/2018-01-03/las-vegas-s-economy-is-on-the-brink-of-a-boom

With that in mind, here’s your top 7 reasons why investing in Vegas right now might be a profitable play:

1. The NFL’s Oakland Raiders are relocating to Vegas in 2020. Construction on their billion dollar stadium is underway across from Mandalay Bay.

2. The Las Vegas Aces — Vegas’ WNBA team begins their inaugural season in summer 2018.

3. The Vegas Golden Knights — Vegas’ first professional hockey team continues to have an historic first season in their state-of-the-art T-Mobile arena.

4. Billionaire hotelier Steve Wynn (not the best of times for him) bets on Vegas with plans for brand new strip hotel — Wynn West which means more jobs!

5. Resorts World International continues construction on their new billion dollar world class strip resort set to open in 2020 bringing jobs, jobs, and jobs!

6. The Las Vegas Convention Center breaks ground on its $1.4 billion dollar expansion funneling in more tourists than ever before.

7. Las Vegas Sands Corp. (Venetian/Palazzo) releases plans to build an 18,500-seat music venue with joint-venture partners, Madison Square Garden, set to open in 2020. “The performance venue will offer sound and visual technology never before heard or seen and change the Strip skyline with a sphere-shaped building 360 feet tall.”

Ready – Set – Place your bets!

Transaction of Property Through a Real Estate Company

August 10, 2018

Real Estate

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When it comes to transaction of property, even the wisest, boldest, smartest and the ‘know it all’ becomes nervous. After all you wish to make either a great investment or a profitable sale. Property matters are always stressing. Yes, they do cost your peace of mind. The process of selling and buying of property is complex as well as tiring. There are subtle fears and doubts’ regarding everything till the deal is not done. When selling a property your ultimate goal is to complete the sale at a profitable price and hand over your property in the right hands. When buying a property you aim to get a property which satisfies your needs at an affordable and right price. But how to do that?

The long and tiring process

Lets us first talk about how to sell your property yourself. The first obvious step is to know the market value of your property and then set a price which is convenient to you. The next move is to get a buyer. But, how? Put hoardings, pamphlets and banners to advertise your property and tell people it is for sale. Inform your acquaintances that you wish to sell your property as they might get you buyers in their contact. Buyers will approach you when they get to know that your property is for sale. They will check your property and if they are impressed by your offer they will buy your land/ house. Then comes the paperwork which concludes the deal. When buying a home, you need to collect info about properties for sale either from advertisement on different platforms or from friends and family. Visit the property and check it in the next step. Then comes the negotiation for price with the seller and the purchase concludes with paperwork.

Why you need an agent?

Well! All this might sound easy, but it is not buyers have to wait for the type of property they want for long. Sellers too have to wait as long as 6 months on average to find the right customer. Even the legal work required in papers makes it mandatory for you to visit Law attorneys dealing with property matters, making the process all the more cumbersome. It is exactly here real estate companies and agents come to your aid.

Perks of contacting a Real Estate Company

Many a times you need to buy/ sell homes in a hurry. Like if you have got transferred to a new place you would like to sell your previous home quickly and buy a new one as soon as possible. As already mentioned the process of transaction of property is complex and time taking. But this tiring burden can be reduced to a great extent when you contact and associate with a real estate company or agent. They have all information about which house is for sale at what price and who are people looking for a house in what location and at what price. So you see the first work of finding and waiting for customers when you wish to sell your property is eliminated. When looking to purchase a house you don’t need to hunt anymore. Your property agent will let you know. Not only they end the hunt, but also assist you with legal paperwork relating to the deal.

6 Tips to Help You Rent an Apartment

August 10, 2018

Leasing Renting

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If you are looking for a cheap and beautiful apartment, you need to work on your deal-finding and negotiation skills. Before you go ahead and negotiate, make sure you know what you need. Given below are 6 tips that may help you rent the right apartment.

#1: Use an apartment locator

First of all, you need to consider a few important features before you look for an apartment in your area. You can check out an apartment locator as well. There are many websites that can serve this purpose. This tool can help you find the right place for you.

#2: Consider your needs

You want an apartment that can meet your needs, not those of your friend’s. Make sure the place is located in the type of neighborhood you like. It should have all of your desired features.

#3: Call a local Locator

You can also contact a local apartment locator for help. In the same way, you can also use a phone book.

It’s a good idea to make a call to at least 2 providers to ask about rental neighborhoods and communities. Make sure you let them know about the features you are after.

Since the locators work for commission, they will try their level best to find you the property you need.

#4: Call a Community

Make sure you pay a visit to the property before you make the decision. It’s even better if you make a call to ask for a quote. Once you are in the apartment, the agent may impress you with the features of the property. On the phone, you will just get numbers. What you need to do is compare the numbers you get with the figures you found online.

#5: Visit the apartment

Although virtual tours can help you make the final decision, you shouldn’t rely on them alone. You can find these tour videos on websites, and this can give you some idea of the features of the property. However, it’s important to keep in mind that visiting the house in person is a must. You just can’t rely 100% on the virtual tours. To get a better feel, you still need to walk around your neighborhood.

#6: Review the features

Make sure you review the features you want in the house. Actually, you should remove the features that are on the bottom of your priority list. This will help you have you choose from a broader list of properties that may have the features you want. You should make adjustments to your list based on the short list of features. Finally, you should make the renting decision after weighing the features and the price you are willing to pay.

The Takeaway

So, these are a few things that you should keep in mind when looking for an apartment to rent. Keep in mind that you will get what you pay for but keeping a few basic things in mind can go a long way.