Maintaining Your Vacation Home From Afar

July 5, 2022 by chorton Leave a Comment

It can be easy to daydream about buying a vacation home as the summer season is in full swing.

After the excitement has subsided, it’s time for you to think about the logistics of buying a vacation home.

It’s easier than ever to keep an eye on your home and ensure it meets the highest standards, regardless of how far away you are.

Hire a trusted person to clean your space. You and potential renters will be able to rest assured that everything is in order. Tip: Do not leave a spare key outside. Instead, give a neighbor a key.
Use technology: In these digital times it’s likely you have many of these devices at home. So why not INSTALL MONITORS around your vacation property. You can add additional protection to your property by installing motion sensor security systems. If you are renting your space, you might also want to consider changing locks that permit you to program the keycode frequently.
Make an owner’s closet This is essential if you have guests coming into your home, whether they are seasonal renters, property managers or family members. A special lock can be used to secure a closet or room. It will allow you to store personal items and sentimental items. Pro-tip : Keep important documents in this area safe.
Don’t leave your house empty. A vacant home is a prime target for burglars who are most likely to be looking for the easiest targets. It is important to ensure that mail, newspapers, and deliveries don’t pile up in your vacation home. Good practices include cleaning gutters and maintaining a neat landscape. Pro-tip: Install smart lighting fixtures inside your home that can be controlled remotely. These can be turned on and off frequently so your home looks liveable from the outside.
Get to Know the Area Whether you plan to spend time on your property or rent it out, it is a smart idea to make connections. Know your neighbors and local activities. You can also network with handymen and cleaning services to help you maintain your property.
Register to get police checks: Check if your vacation property is located in the U.S. for vacation home inspections. Many towns offer programs that allow registered volunteers or police officers to periodically inspect your home’s perimeter while you are away.

A vacation home can be a great investment and holds important sentimental value. Make sure it is safe and in good order while you are away.

Original Blog: https://www.landhub.com/land-news/maintaining-your-vacation-home-from-afar/?inf_contact_key=0e6a37f5af7fb89e0c179edd2f733cf1680f8914173f9191b1c0223e68310bb1

Thinking Of Buying A Vacation Home?

June 15, 2022 by chorton Leave a Comment

Most people have vacation in their heads as the summer season begins. It is important to research all aspects of a potential purchase before you make an emotional decision.

It’s tempting to make big decisions after a vacation. Here are some things you need to remember before purchasing a vacation house.

The pros and cons of buying a vacation home

It is an investment and will increase in value, especially if it is located near popular areas such as the beach or mountains.
This property can make your vacation more enjoyable. It will save you money and let you stay longer than you would in a vacation rental. It will also allow you to invite your loved ones for some R&R.
Rent out the property to make money during your absence or rent it out to vacationers.

The cons of buying a vacation home

It is expensive to rent vacation properties. Additional mortgages, property taxes, insurance, and utilities will be required. These costs can reduce savings in other areas, such as retirement or college funds.
You must consider security and maintenance when you aren’t there. You can still monitor your property remotely using modern technology. But what if you are far from your primary residence?
Are you going to get bored of the view? It’s important to not make an emotional purchase when buying a vacation home. Are you sure you will want a change of scenery within a few years? Are you going to stop taking vacations abroad because of this investment?

Important Information to Consider Before You Buy a Vacation Property

While you have the pros and cons listed above, there are still some things that you need to know when purchasing a vacation home.

Think about the things you want in a vacation home. What are you looking for? What do you see yourself doing with this property? What is the most frequent you will be able visit this property? These questions should be answered in detail. You can use these answers to help you find the right property.
Understand the financial implications of vacation homes. Many buyers don’t realize the higher mortgage rates for a second home. The rules for financing a second residence are different from those for a primary residence.
Do your research. Buying sight unseen is becoming more common in today’s real estate market. However, with a large investment like this, it’s important to know the area. Is the property close to shops and restaurants? These are important things to consider whether you will be renting or living in the home.

It’s an exciting idea to own a vacation home. But make sure you do your research so that you can find the right fit.

Ready to purchase? Contact Preferred Properties of Texas today!

Original blog: https://www.landhub.com/land-news/buying-a-vacation-home/?inf_contact_key=9a8e94f992f9eb8392bcff3da9fc2f74680f8914173f9191b1c0223e68310bb1

There Are Many Signs That The Home You’re Buying Will Have A High Resale Value

June 9, 2022 by chorton Leave a Comment

Although it may seem premature to consider selling your home before you actually buy it, it is important to remember that a house can be an investment. In an ideal world, investments would make money and not lose it.

When house hunting, resale values should be considered. It shouldn’t be the only thing that you consider when buying a house. If you want 20 acres or lakefront access, should be your priority. You will be happier if you can predict the future appeal of the house you are buying and the surrounding area it is located. You might even be richer.

Buyers will save a lot of money by considering resale values. They won’t have to spend a lot on renovations and updates. A high resale price is not a guarantee.

Because of the effect of the local market and economic factors, it is difficult to ensure that a home will retain its full value.

When house hunting, pay attention to the surroundings. Is it easy to get around the neighborhood? Is it possible to walk to the grocery store without having to stop for snacks? Are there nearby restaurants for those evenings you just cannot?

You won’t get a high return on your home if it isn’t well-developed or has poor infrastructure.

A home purchase is a study of contrasts. You need a beautiful kitchen and good delivery options. Five bedrooms is the minimum requirement. You also need a decent hotel nearby. Your mother-in-law will not be staying with you. You want everything to be bustling, but not in your backyard.

There are buyers, and maybe even you, who love to live in the middle all the action. Be aware that your future buyers may not be as keen to buy the bungalow right next to your favorite watering hole.

Many people view return on investment as the sum of simple calculations: Will your home sell for less than what you paid?

The inspector will give you an overview of the health of your home. However, it is important to pay attention to the roof, foundation, HVAC system, windows and doors. You should also pay attention to electrical and plumbing. Any problem with one of these systems could lead to a costly repair that can take a chunk out of your paycheck.

To read more click on original blog: https://www.realtor.com/advice/buy/home-youre-buying-good-resale-value/

Ways Homeowners Can Use Their Equity

December 16, 2021 by chorton Leave a Comment

Your equity can be a powerful tool to help you reach your homeownership goals. Your equity may have grown significantly in the last year. Here are four ways you can make the most of your growing equity.

1. You Can Use Your Equity to Buy a Home that Meets Your Needs

You might find that you don’t have enough space to live in, and it is time to move. You might have too many square feet and want something smaller. Whatever your situation, you can use your equity to purchase a home that suits your needs. A larger home may offer more space for loved ones or remote workers. On the other hand, downsizing can help you save time and money.

2. Move to the Place of Your Dreams

It may be time to move to a different area if the size of your house is not a problem but your current location is. Perhaps you love to vacation in the mountains, on the beach or anywhere else, and want to live there all year. Perhaps the distance between your family and friends is too great and you want to bridge it. Whatever the reason, your home equity could help you move to the place that you truly want.

3. Start a New Business

You can also use equity to fund a new venture if you aren’t ready to buy a home. Although it is not recommended for homeowners to use their equity for unnecessary expenditures, using your equity to invest in a business you are passionate about could help grow your nest egg.

4. Spend money on education

It doesn’t matter if you are a parent or a friend who is preparing for college, or if you plan to return to school, the idea of paying for higher education can seem daunting. You can use a portion or all of your equity to help pay for higher education.

Bottom Line

You can use your equity to help you reach your goals. Talk to a trusted advisor to find out how much equity your home has and start planning your next move.

Original blog: https://www.keepingcurrentmatters.com/2021/11/22/4-ways-homeowners-can-use-their-equity/

Don’t Let Your Property’s Value Decrease

December 7, 2021 by chorton Leave a Comment

Don’t Let Your Property’s Value Decrease

November 9, 2021

Daniela Gonzalez

Property value has many moving parts, especially for something that itself doesn’t, well, move. The factors involved in determining property and home value are sliding scales of perception, priority, and personality. What is important to some may be a deterrent to others, so coming to a consensus on the value of a property has numerous considerations.

How Is Home Value Determined?

Size

This one is pretty straightforward – larger homes are more expensive because building bigger homes is more expensive. Depending on where you live, there is a varying cost per square foot to build a home (this has huge variations across the country based on many factors like availability of building material, contractors, remoteness, terrain, etc.).

Age

The age of your home can contribute both positively and negatively to your home value. We tend to place a high value on historical or character homes – classic homes from the early 1900s that have been well maintained and upgraded. Conversely, homes from the mid-1900s forward that have not been updated are not seen as having high value. If your house would not fall into the historical or character home category, renovations and updating are necessary to maintain home value.

Location

Some location elements are primarily about personal priorities—some people prefer being closer to amenities, downtown cores, schools, nightlife, wilderness, hiking and biking areas, etc.

Other locational elements are less subjective. For example, we can confidently say that most of us would prefer not to live next to a dump or landfill—or a meat processing facility, power generation plant, or fire station. A property nearby could have a beautiful home and exterior landscaping, but we would likely still value it less than the same home in a more picturesque location.

Features

The features of your home and property contribute hugely to its market value. What the term ‘features’ encompasses is vast and also highly personal. Here are some features that contribute to the value of your home and property:

Home gym (including flooring, mirrors, etc.)
Home theatre room
Feature fireplace
Indoor or outdoor water features
Oversize windows
Smart home features
Finished/heated garage

Safety

Neighborhood safety is a significant factor in the value of your property. Not only is it undesirable to consider living in an area with a higher crime rate, but it will likely cost a potential buyer more in the long run too. Home insurance companies factor in the crime rate in your area and the likelihood that you’ll make a claim due to a burglary or property damage and will give you a higher rate if you live in a high crime area.

Neighborhood

You know the ones, the good neighborhoods where everyone wants to live. It might not be because the houses are beautiful and gigantic; maybe it just has a good vibe or many great locally-owned restaurants. Whatever the reason, some neighborhoods are more desirable than others, and just having your home located there can positively impact your property value.

Tree Value

Tree value can reference both the trees on your property specifically, as well as the trees on your street in general. Having old and well-cared for trees provides a beautiful natural element to your property that people are drawn to, enough so that it has a noticeable effect on your property values.

School District

If you have children going to a public school, this is probably something that you’re already keenly aware of. It’s also an excellent example of how priorities are on a sliding scale regarding property value. If you don’t have children, or they attend or will attend a private school, then you’re much less likely to be willing to pay more to be in a desirable school district.

What can decrease my home’s value?

Crime Rate

Many potential buyers are savvy about this these days, and they will check on the crime rates in neighborhoods they’re interested in purchasing in. So not only are those baddies sneaking around and damaging property or stealing bad for you, they’re bad for the overall value of your home now and into the future.

Neighborhood

Gentrification is a tricky thing when it comes to property value. It relies on an overall increase in property values throughout a neighborhood to bolster the value of individual properties.

Suppose you renovate a home in a less-desirable area with the idea that the neighborhood itself is becoming more gentrified, and that doesn’t happen as quickly as you were hoping (or at all). In that case, you have a property that’s valued is negatively impacted by the general area, not by the characteristics of the home or property itself.

Location

There’s a good reason for the old “location, location, location” adage that you’ve likely heard many times before—it’s still relevant! So many factors go into what a desirable location is or isn’t, and they can be tricky to navigate. Here are a few of the important ones to consider:

Cemeteries – generally speaking, very close proximity to a cemetery will work against your home value.
Highways – noise from roads is a detractor; while easy access is suitable for property value, it depends on your location.
Hiking trails – if you’re a hiker, this could be a suitable property feature; however, many people do not prefer to have a reason for multiple strangers to be close to their home year-round.
Construction – Construction brings noise, people, dust, and traffic. None of these are suitable for your property value.
Property history – This can be anything from being in a floodplain to having a violent crime committed on your property at some point. Some states have mandatory disclosure laws about certain things, while others do not, so the impact on your property value will depend on the history and where you live.

Tips For Avoiding a Low-Value Home

Be informed – Know what’s happening in your neighborhood and city. It might not be the most scintillating activity, but keeping an eye on your city or town council’s activity and any proposed infrastructure changes or construction permits can be a great way to help you stay ahead of the game.

Economic factors – The state of your local and national economy are one of the biggest drivers in real estate pricing. You could have an adorable home with perfect curb appeal, but your property will be valued less if you try to sell in a down economy.

Building regulations – This is a significant factor if you’ve made any additions to your home. Most municipalities require permits for building additions, and if they are not correctly acquired, it is likely to be detrimental to your property value on resale.

Hire a realtor – A realtor can focus their trained eye on areas that you can maintain or improve the home value that you might not have thought of. We get used to our homes and don’t see them with the critical eye that a potential buyer might, so having a realtor in your corner can help you keep ahead.

How To Increase Your Home Value

Remodel – It’s a big undertaking, but if you want to maintain your home value and stay competitive in the resale market, remodeling is the best way to keep your home current. That’s not to say that you have to gut your home down to the studs every ten years, but making comparatively small upgrades like creating a more open concept floor plan or putting in more oversized windows (even just repainting) will help retain property value.

Add features – Maybe you finish the basement or take that spare bedroom and create a home gym; anything you can add to your home that a future buyer would find attractive will work in your favor. This is also a great way to engage a real estate agent—they know what people are looking for in a home and can give you great advice on what would be an attractive feature to add to your home.

Good maintenance – Little things add up, and they can quickly amount to enough things that, together, decrease your home value— if you need to have a portion of your fence replaced, no problem. Same with new gutters, some new landscaping, or exterior paint. Taken individually, these things are not likely to decrease your property value much. But all together, they definitely will. Keeping those pesky little tasks in check is one of the best ways to make sure that you don’t have a mountain of upkeep to do when you go to sell!

Now that you have a clear picture of the potential pitfalls that could decrease your property value and how to avoid them, you’re all set to make sure that you get the most out of your property when you choose to sell.

Do Ponds Add Value To Your Property?

August 23, 2021 by chorton Leave a Comment

People love to live near water bodies where they can swim or recreate. Some people prefer the ocean or a lake to be their favorite body of water. People are building ponds to access the water on their property, so that they don’t have to leave their land. This trend is a good investment. However, landowners will need to find out how much a pond can add to their property before they dig up their land.

A pond can add value to your property by creating beautiful scenery and recreational opportunities. A pond could be a good idea if your property has large acreage that is not yet developed and located where a pond can easily be dug. Most ponds built in recent years have a size of one-half to two acres.

You may want to stop developing your land if your property is small or not well developed. Foundation problems could result from digging a pond near your home or other structures.

Although a small pond can be a great addition to a property’s value, it will still need to be maintained. Common maintenance costs for owning a small pond include:

Vegetation removal
Monitoring water quality
Health studies on flora and fauna and their treatment

Although all ponds require some maintenance once they have been established, there are ways to avoid significant maintenance costs.

A pond built on your property can be very disruptive. You should consult a professional to determine if it is a good idea. The professional will take a look at the soil and land to provide further information about the development process. After the professional has appraised your land and given you permission to proceed with the pond development process, it is important to meet with the professional to discuss the details and spend time designing and building the pond that you desire.

Experienced professionals will anticipate potential problems when designing a pond. You can also have your design modified to ensure that the pond fits your property.

You will need to ensure that your property is able to support a pond before you consider installing one. A pond will likely increase the property’s overall value if it can be supported. The addition of a pool will increase your property’s overall value. It will also provide you with additional recreational opportunities, which can help you attract more buyers when you sell. A pond will need to be maintained. These maintenance costs can be reduced significantly by planning and designing well.

Original article at https://land.us/2021/07/does-a-pond-add-value-to-a-home/