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Descriptive Terms In Real Estate Ads – Even More Definitions
If you are buying or selling a home, the chances are good you struggle with the meaning of descriptive real estate terms. Here are explanations and definitions for more terms.
“Living Room” & “Family Room”
When a home has both a living room...
Euro Tax Haven Threat
Media reporting of a new EU savings tax directive has left many people wondering whether European tax havens could soon become obselete.
The July directive requires banks throughout Europe, including low and no tax areas such as Gibraltar,...
How To Simplify The Process Of Selling A Home
Admit it for years, or even decades it has truly been your home sweet home. And now, you refer to it as a plain ‘property’ to sell.
Selling a home need not be a bitter encounter. We should healthily treat it as a source of marketable commodity,...
Things To Know About Realtors
A realtor is the designation accorded to a member of the National Association of Realtors (NAR). NAR is the largest trade association of America. It has about 1 million members. The membership to the association is voluntary therefore it contains...
Thinking Vertically
I’ve often wondered why we describe houses and other buildings in terms of square footage. Though we live in a three-dimensional world, when it comes to real estate, only length and width seem relevant. What happened to height, the 3rd dimension?...
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The Pros Of Purchasing Off Plan
The general lack of stability or guarantee of returns available from the stock market coupled with a global housing boom have resulted in many more investors putting their hard earned sums of cash into real estate around the world over the past year or so.
Some of these investors have simply purchased second homes, some have developed and flipped houses while others have bought into real estate investment funds and trusts for example ? but the one thing that many of those profiting from property have in common is consistently cashing in on off plan real estate developments.
And even if the global property market is about to take a tumble into recession as some doom and gloom-mongers will have you believe, there are still profits to be made from off plan properties.
Here are my five pros of purchasing off plan: -
1) By buying before a single layer of bricks has been laid you have complete control over the internal layout and finish of your property.
If the home is to be a holiday or second home you can customize it to your tastes, alternatively if it is to be let out or flipped and sold on for profit you can customize it to fit your target market. If you?ll be corporate letting the property you can spec it up to the max, if you?re going to be selling to a family you can ensure there?s at least a second bathroom and that the bedrooms and family spaces are decorated appropriately for example.
Basically, buying off plan gives you more control!
2) You are buying the off plan property at today?s prices ? you are fixing and future proofing the cost of the property meaning that not only can you budget to afford it, but you will also benefit from any natural periods of inflation that the local real estate market enjoys meaning that when the property is completed in twelve to eighteen months time you will benefit from any increase in the underlying value of the house.
The equity growth potential from
buying off plan is a great plus!
3) You will have the full period of the build duration to pay for your property meaning that you don?t have to find a large capital lump sum up front to afford it.
You can work and save to meet the stage payments throughout the build process making buying off plan an affordable way to acquire a home!
4) You need never pay in full for your off plan property ? yes ? you heard me right!
Instead of making the final lump sum payment on your off plan property you can flip it by putting it on the market as it comes to completion. You will take back what you put in to the property plus all the profit and you need never make that final payment if you time your investment right.
5) Many constructors encourage investors to buy off plan as it allows them to use your funds to pay for the building of the development - in return they offer you guaranteed rental yields for a fixed term.
By buying such an investment property off plan you will future proof the price you pay for it, you will benefit from any natural inflation in the housing market during the build period, you will then also generate a fixed rental sum annually for a given period and throughout that period as well you will reap the rewards of housing market inflation in terms of the rise in equity that your property will gain meaning profits all round from off plan properties!
About the Author: Rhiannon Williamson is a freelance writer whose many articles about international property investing have appeared in publications around the world. Visit this link to read her latest articles about Property in Bulgaria http://www.shelteroffshore.com/index.php/property/cat/C58/
Source: www.isnare.com
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