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Shared Freehold: What Is It And How Does It Affect Your Property? A Guide For First-Time Buyers

Thanks to Michael Gove’s recent suggestions for changes to leasehold property law, which would make it easier for flat owners to buy a share of their freehold, many first-time buyers are exploring the notion of a shared freehold.

While the plan has been scrapped for the time being, many homeowners are still exploring the option of buying a shared freehold home. However, the term can be confusing, especially if you’ve never purchased your own home before.

Fundamentally, a shared freehold is a type of property ownership arrangement typically involving multiple-unit buildings such as blocks of flats or large estates of houses with shared areas like car parks. This arrangement involves the owners of any flat or individual property also having a share of the freehold, meaning they have a direct stake in the land upon which the property is built. That means that shared freeholds often offer more control and freedom than leasehold arrangements.

As a first-time buyer, understanding the concept of a shared freehold can be crucial in the process of purchasing a shared freehold home. While it might look like a cost-effective solution, it’s important to know that a shared freehold isn’t the same as a freehold home and understand how this type of ownership affects your rights, which is why we’ve put together this guide to how shared freeholds affect property owners.

How Does A Shared Freehold Work?

When you buy a property with a shared freehold, you own part of the freehold for the property. Usually, a company is established for the management of the building, and you will own a share of this company. The bigger the percentage of your share, the more control you will have. You will have to work with your fellow shareholders to make decisions jointly. Here are some of the ways that shared freehold ownership affects you as a homebuyer.

Allows You To Increase The Length Of Your Lease

One of the biggest downsides to owning a leasehold property is that your lease runs out, usually after 100 years. That means that you’ll then have to renegotiate the lease and pay to renew it with the freehold over. As a shared freehold homeowner, you would technically have a share of the freehold and a lease. However, you (and the other owners) can agree to extend the lease to a very long term (often 999 years), effectively removing concerns about the lease running out. The terms of this will be outlined when you purchase the property, so you need to make sure that you get professional support from a team of experienced conveyancers. If you’re looking for dedicated conveyancing solicitors in Sheffield, then consider Wilford Smith. Learn more about their residential conveyancing services and how they can help you to understand the terms of your shared freehold and property lease.

Set The Property Rules And Deal With Your Fellow Homeowners

When you buy a leasehold property with communal areas, such as a flat in a building with corridors and amenities like a lift, the freeholder will set rules on how these areas can be used. As part of the shared freehold company, you and the other owners can set the rules for the building. This could include things like noise restrictions, pet policies, or usage of common areas. The rules you set will affect how much maintenance you have to do and the usability of the property, and you’ll usually have to vote on them when you’re trying to make changes. When setting rules for your shared freehold building, disagreements can arise among the freeholders. It’s important to have mechanisms in place for resolving disputes, and make clear arguments when trying to push through rule changes, so that you can reduce the chance of arguments and make it easier for you to get your points across.

Manage Your Own Service Charges

In a leasehold, the landlord typically determines service charges, which are the costs everyone pays to maintain the communal areas and shared amenities. With a shared freehold, however, you and the other owners can decide on the level of service charges. This gives you more control over your expenses. Service charges are usually between £1000 and £2000 per year, but for leasehold flats owned by external companies, some of that money will go towards profits and administration fees. So, by setting your own service charges, you can ensure that you have to pay a reasonable fee and know that the money will be used for the management and care of the property, rather than going into someone else’s pocket.

In summary, a shared freehold can offer a higher degree of control and potential cost savings for property owners, but also comes with additional responsibilities and potential challenges. Understanding these factors will be crucial in making an informed decision as a first-time buyer. Use this guide to get the basics and start making informed choices when you’re exploring a shared freehold home for your first property purchase.

Author: Ryan Byrne

Unveiling the World’s Cheapest (and Quirkiest) Homes – From Penny Pinching to Property Prowess

Are you dreaming of becoming a homeowner but working with a budget that makes a dollar store look extravagant? Fear not, budget-conscious adventurers, here it comes, the “World’s Cheapest Homes”! We’re about to embark on a hilarious journey to explore the world of ridiculously affordable homes. Join us as we unveil the hidden gems, the quirky abodes, and the unconventional dwellings that will make your wallet and your funny bone rejoice!

The Quest for the World’s Cheapest Begins

Strap on your detective hat and get ready to unearth the best deals. Begin your search in hidden corners of the internet or even on the bulletin board of your local supermarket. Remember, the weirdest places often hide the greatest opportunities!

Tiny House Mania

Tiny houses are all the rage, and for a good reason—they’re adorable, cost-effective, and allow you to get cosy with your possessions like never before. Imagine sipping tea in your very own shoebox-sized living room or hosting a dinner party for your action figure collection in the dining nook. It’s the epitome of affordable luxury!

Creative Camper Conversions

Why settle for a stationary home when you can take your humble abode on a never-ending adventure? Embrace the spirit of nomadic living by transforming an old school bus, camper van, or even a retrofitted ice cream truck into your new dream home. Just be prepared for the envy-inducing waves from passers-by as you drive by in style.

Embrace the Fixer-Upper Extravaganza

Are you a DIY enthusiast with a knack for transforming trash into treasure? Well, it’s time to put your skills to the test! Seek out the most dilapidated or downright weird properties in your area. Embrace the challenge of turning that decrepit castle or abandoned UFO-shaped house into the envy of the neighbourhood. Just remember to have a sense of humour when things inevitably go sideways!

Bargain Hunting in Unexpected Places

Expand your horizons and venture off the beaten path. Look for hidden gems in countries where the cost of living is lower, where you can snag a spacious villa for the price of a microwave oven. Who needs a tiny studio apartment in a major city when you can have an entire village to yourself? Embrace the charm of quaint towns, picturesque landscapes, and the delightful quirks of foreign cultures.

world cheapest home - small barn — world cheapest home – small barn

Quirky Housemates

If you’re willing to share your living space with unconventional roommates, you might find the deal of a lifetime. Think houses with resident chickens, goats, or even llamas as part of the package. Just imagine waking up to the dulcet tones of your pet rooster, who kindly doubles as your alarm clock. It’s an animal lover’s dream come true!

The Art of Haggling

When it comes to buying a cheap house, channel your inner negotiator. Haggling is an art form, and you’re about to become a Picasso of penny-pinching. Employ tactics like pretending you’re allergic to paint fumes or insisting on a discount because the house’s gnomes keep rearranging your furniture. Remember, the quirkier your negotiation tactics, the better your chances of striking a deal!

Unconventional Financing

If your piggy bank is a little light, get creative with financing options. Consider alternative methods like trading your extensive collection of novelty socks or convincing a benevolent billionaire to sponsor your homeownership dreams in exchange for a lifetime supply of bubble-gum. Desperate times call for ridiculous measures!

Conclusion: World’s Cheapest Homes

In the realm of affordable real estate, laughter truly is the best currency. therefore, embrace the wackiness, the charm, and the unbeatable prices of the world’s cheapest homes. Whether you’re cosying up in a tiny house, embarking on a nomadic adventure, or living with chickens as housemates, there’s a budget-friendly home out there just waiting to make your dreams come true. So, grab your sense of humour, sharpen your negotiation skills, and prepare for a wild ride into the realm of ridiculously affordable real estate!

Affordable Real Estate Top Cities for Buying Property Under 300k

The most stunning areas to live in the United States are not necessarily affordable. Property costs are rising in many major U.S. cities, but there are still numerous cities where property can be purchased for an affordable price. In this article, we will take a look at the best cities for buying property under 300K.

How To Choose The Right City With Property Under 300K?

Moving to a new city is not something you should take lightly. Just because a place is affordable does not imply that you will actually enjoy living there. Therefore, take your time and consider the advantages and disadvantages of a place before moving out of the city. When selecting a city, take into account the transport options you require, the style of property available, and the activities you enjoy.

What is appropriate for another family might not be appropriate for your family. As long as you pick a place that suits your demands, you can locate the ideal area to live in without going over budget. The below table will help you decide the right city for you with a property under $300,000, as some affordable cities will be listed here.

City	State	Median List Price
Las Vegas	Nevada	$289,000
Wedgewood	Texas	$288,000
Cleveland	Ohio	$98,708
Kansas City	Kansas	$171,038
Jacksonville	Florida	$295,278

5 Beautiful Cities for Buying Property Under $300,000

Las Vegas, Nevada

Median list price: $289,000

Photo by Brayden Law on Pexels

When you hear “Las Vegas,” you might immediately visualize the image of “Sin City.” In truth, Las Vegas is a city surrounded by stunning red rock canyons and hiking trails. There is something in Las Vegas for everyone, from shopping and gambling to live shows and world-class restaurants.

White sand beaches and the numerous casinos in Las Vegas are also popular among the city’s residents. Those people who don’t want to play gambling have a lot of other options. Shopping is a well-liked activity here, and you will find out lots of boutiques and malls. Las Vegas’s cost of living is almost 10% less than the national average.

Also, the city’s unemployment rate is 4.9%, which is quite low. Single-family houses are the most common type of house in Las Vegas, accounting for 77.6% of all houses that are on the list for sale right now.

Wedgewood, Texas

Median list price: $288,000

Photo by Talena Reese on Pexels

Wedgwood, Fort Worth, is the ideal place to buy houses and real estate properties as it has green spaces, a welcoming atmosphere, and lovely parks. With its strong sense of community, a wide range of local amenities, and great schools, the lively and well-established community of Wedgwood provides its people with a great quality of life.

You will be delighted to know that there are luxurious brick houses with all the amenities of modern living available to buy. Homes for sale in Wedgwood, Fort Worth, have conventional yet fashionable ranch-style designs and cozy attached garages.

Cleveland, Ohio

Median list price: $98,708

Photo by benjamin lehman on Unsplash

In addition to being affordable, Cleveland is a young city as well. Its median age is about 36, which is a little lower compared to the national average. Cleveland stands out because of its liveliness. The city is well-known for its numerous cultural attractions, which include the renowned Rock & Roll Hall of Fame.

It has developed into a center for several important industries, including metal manufacturing, information technology, bio-health, and automotive manufacturing, which are luring families and boosting the regional economy.

For those who enjoy nature, a vast network of nature preserves surrounds the city and encompasses the Lake Erie beaches. The Cleveland Metroparks system has over 300 miles of horse and bicycle trails, walking, as well as nature centers, picnic spots, fishing areas, and golf courses.

Kansas City, Kansas

Median list price: $171,038

Photo by Taylor Hunt on Pexels

One of the most reasonably priced cities in the country, Kansas is home to entertaining activities, excellent museums, friendly people, and delicious barbecues. Kansas City is a good illustration of how the Midwest has some of the cheapest areas for first-time homebuyers. With median listing prices under $200,000, this area can be perfect for buyers like you who have a tight budget.

Also, if you work in the healthcare industry, then it will be even better for you. The largest sector in Kansas City, Kansas, is health care. Manufacturing and transportation are other important industries in this region due to the location and available space.

Jacksonville, Florida

Median list price: $295,278

Photo by Lance Asper on Unsplash

Jacksonville is situated on the Atlantic Coast, which is in the northeastern part of Florida. Health and biomedical, advanced manufacturing and logistics, and financial services are important industries in Jacksonville.

The Mayo Clinic, Citibank, UPS, Bank of America, AT&T, and other well-known enterprises have corporate offices in this city. Here, the job market is expanding, and housing costs are lower than the national average.

You have it now! The best 5 cities in the U.S. for property purchases under 300K. These cities are fantastic locations for buying a vacation home as an investment or for settling down. Tourists and netizens who visit these five extraordinary and affordable locations, all admire them similarly.

Author: Shannon Quantock

Budget Friendly Homes In US: The Best Deals Under $300K

It should come as no surprise that affordable real estate is becoming harder and harder to come by. With the recent market inflation that drove the median home price up by nearly 45% from the end of 2019 to the end of 2022, it’s getting increasingly difficult to find a home that fits within a budget.

Fortunately, there are still several states in the US where you can find real estate for a excellent price. From coast to coast, the country is dotted with amazing towns and cities that offer affordable housing. Here are just a few states to find homes under $300,000:

Iowa

Featuring some of the most affordable real estate options in the country, the Hawkeye State is an excellent place to find homes for sale that won’t break the bank. The median home price in Iowa falls around 150K, which is roughly only 10% of the median household income. While there are a number of small hamlets and tiny towns peppered throughout the acres of farmland, quickly growing citites such as Des Moines and Cedar Rapids offer big city options as well.

Top Citites in Iowa with Affordable Real Estate:

West Des Moines | Median Home Price: Approx. $270K

Considered one of the best places to live in Iowa, West Des Moines is a well-balanced urban suburban community. There are a number of quiet, family-friendly neighborhoods as well as a wide variety of bars, restaurants, coffee shops and more. Located just a few miles from neighboring Des Moines, West Des Moines is also a great option for commuters.

Sioux City | Median Home Price: Approx $190K

Found in northwest Iowa, Sioux City acts as a boarder to not only Iowa, but Nebraska and South Dakota as well. Home to roughly 85,000 people, budget-concious house hunters will be sure to find a bargin. From cozy bungalows to mid-sized single-family homes, there is also a healthy amount of variety to be found in the Sioux City real estate market.

South Carolina

The Palmetto State is an excellent destination for home buyers looking for affordable real estate opportunities. With its mild climate, beautiful beaches and an overall lower cost of living, South Carolina is a place to find more than just amazing deals on homes for sale.

Top Cities in South Carolina with Affordable Real Estate:

Lake Greenwood | Median Home Price: Approx $270K

Despite seeing a slight increase in median home price since 2022, Lake Greenwood still offers a plethora of homes for sale under $300K. There are just over 22,000 people who enjoy the beautiful city where one will find a perfect blend of amenities as well as outdoor recreational space.

Spartanburg | Median Home Price: Approx $290K

Another great location in South Carolina to find low priced real estate is Spartanburg. Set just north of Croft State Park, Spartanburg is a thriving and charming community that is steeped in history. Mixed throughout town, househunters will find a number of mature neighborhoods that are filled with large trees and quiet streets.

Michigan

Michigan is another state that stands out when it comes to budget-friendly real estate. From Detroit to the Upper Peninsula, there are a variety of cities and towns where you can find homes for under $300K. Michigan residents are also able to take advantage of an income tax credit program, which makes it even easier to stay within budget while shopping for a home.

Top Cities in Michigan with Affordable Real Estate:

Kalamazoo| Median Home Price: Approx $200K

Kalamazoo is often touted as one of the best places to live in Michigan, and with its vibrant downtown scene, it’s easy to see why. There are a variety of homes available in the area from charming older cottages to newer townhomes. Kalamazoo also provides residents with an array of cultural experiences that can’t be found elsewhere in the state.

Traverse City | Median Home Price: Approx $250K

Tucked away on the coast of northern Michigan, Traverse City is an amazing town with a lot to offer. From incredible views of Lake Michigan and its own microbrewery scene to outdoor activities such as kayaking and mountain biking. Traverse City is a great option for those seeking a great home, an adventure on their budget.

As you can see, despite what market conditions may seem, the country is still filled with plenty of towns and cities that provide exceptionally priced homes. Regardless of if you are a first time homebuyer looking for a chance to break into the market, or a repeat buyer looking to maximize your budget, there is no shortage of locations to consider.

Do your research, start touring homes and you may be pleasantly surprised at the number of amazing hidden gems that are out there for the taking. Be patient, plan and budget properly, and you’ll find yourself in a new home sooner than you think.

Author: Shannon Quantock

How To Buy A Condo In The US and Rent It Out Fast

Buying a condo is a fantastic idea if you are looking to downsize from a large home or if you want to get a bit of an upgrade from a boring apartment. They have started to become more and more popular in the last few years, with so many people choosing to deal with a smaller place instead of worrying about all the extra repairs that might come along with owning a house. If you have thought about investing in some condos to use as rental properties, you should have a look at this great article to find out how to buy a condo in the US and rent it out fast.

Condo Market In US

Current State of the Condo Market:

There are around 5 million condos in us which made it a billion dollar market. According to the National Association of Realtors (NAR), condos and townhouses accounted for 14% of all existing-home sales in 2022, up from 12% in 2021. This increase can be attributed to several factors, such as affordability, low maintenance, and urbanization. Tucson, Philadelphia, Oklahoma City, St. Petersburg and Torrignton are the five most demanding area to run rental condo business.

Condos are often more affordable than single-family homes, making them a popular choice for first-time homebuyers and downsizing seniors. Additionally, condos require less maintenance than a house, as the condo association is responsible for common areas and exterior maintenance.

Trends in the Condo Market:

One of the biggest trends in the condo market is the shift towards urban living. With more people moving into cities, the demand for condos in urban areas has increased. Developers are responding to this demand by building more high-rise and mid-rise condo buildings in urban centers. Another trend in the condo market is the rise of luxury condos with exclusive amenities, such as rooftop pools, fitness centers, and concierge services. These amenities can help differentiate a condo building from its competitors and attract high-end buyers.

Steps To Follow To Find and Rent Out A Condo Fast

Step 1: Figure out your budget and what you want to look for

Once you figure out how much you want to invest, you will be able to quickly narrow down the areas you are less likely to purchase. Condos can vary quite a bit in price from state to state, so think about how much you want to spend before you start looking. If you don’t know the exact number, talk to a financial expert, and they will be able to help you figure out what your finances will look like before you consider making a large investment.

Step 2: Figure out who you need to talk to

If you are buying a condo from an area that you are not local to, then you will likely need to work with a realtor to ensure that you are getting every step completed. Some places require you to work with a local property manager to ensure that your condos are being well taken care of, so you might need to consider talking to a property manager that works for the building. This all depends on what is required by the area you are purchasing from, so do as much research as you can to ensure you are meeting all of the requirements.

Step 3: Make sure it’s worth it

If you see a fantastic price on a newly listed condo, you should make sure it’s going to be worth your money before you get too excited. The property value is much more important than you think, so have a look at whatever you can find out about the building it is located in. Some condo buildings are rife with issues that give them a bad reputation, and investing in these units will likely make you lose money. Check out the average prices for condos in the neighborhood and look up reviews on the building so you can see if there are any significant problems that might turn your investment sour.

Step 4: Check out the neighborhood

One tip that is great for investors is to consider what the entire neighborhood looks like so you can get a better idea of what the property values will look like in the future. Places like Torrington are full of new stores, which shows the area will continue to rise in popularity, and that is great if you are looking to sell a condo in the future. If the neighborhood looks like it hasn’t had a new store in the last decade, then you should probably avoid it. These neighborhoods often deter new residents, so it will be much harder to rent out the condo, even if the building itself is in excellent condition.

Step 5: Finalize the sale

Once you have found a condo you like, it’s time to make an offer and finalize the purchase. You can work with your realtor and decide what is a good price to offer but make sure you use the research you have done on the property value to decide on your final offer. A realtor will be able to help finalize the sale and pass the ownership over to you, even if you don’t live in the same town. Once you have finalized all of your paperwork, you can start getting your new condo ready for potential buyers.

Step 6: Make it look great

After you have made your final purchase, you will likely want to do whatever you can to make sure it is rented out as soon as possible. If the condo is empty, consider hiring a professional to come in and stage it for photos so new renters can get a better idea of what the space will feel like. Homes that are staged rent far quicker than those that are left empty, and you will likely have a much larger renter pool to choose from if the condo is more appealing to a wider group of people.

Step 7: Market it right

Now that you have gone through the purchase process, you can start to consider what you will need to do to make your condo appealing to new renters. Most buildings won’t allow you to make major changes, but you can still do the best you can with what you have by hiring a professional to give it a good image. Talk to a local photographer or videographer to get some great shots and video tours of the condo to make sure the listing stands out among others.

Step 8: Keep up with it

One major mistake many investors make when it comes to rental properties is forgetting about keeping up with them. If you can’t get there all the time, ask your property managers to give you updates on whatever they need to so you can make sure you are on top of things as much as you can be. There’s nothing like hearing a renter is moving out because of issues that could have been prevented if you had decent communication with your property manager. Do your best to stay updated on any issues or problems that might come up, so you can get them sold as soon as possible.

Renting out a condo is one of the best ways to make a bit of extra income, and condos have become more popular than homes in many metro areas. They have become popular all over the country, with so many people choosing to reduce their overall expenses and ditching their large homes for smaller spaces which makes them perfect for anyone that is looking to invest. If you want to invest in some condos, now is one of the best times to do it, and there are plenty available all over the country, so you can find one (or a few!) that will fit your budget.

Author: Shannon Quantock

Your Guide to Crowdfunding

Crowdfunding is just one way businesses can raise money for their products and services. This type of fundraising can be used for many industries, including real estate, using the same models. Instead of looking for investors or getting mortgage loans, consumers can pool their money online, allowing developers to raise money for projects and investors to make their investments work for them.

Crowdfunding is easy for everyone, including investors, because you don’t need a large lump sum to begin investing. Instead, you can join a crowdfunding side and get various rewards depending on how much money you give. Together, investors can pool their money to purchase property or a share of the property and diversify their portfolios through real estate investments.

What is Real Estate Crowdfunding?

Crowdfunding is a method where businesses or individuals ask the public to contribute startup capital to fund new ventures, such as building a new community or a single property. Using online fundraising, investors can be pitched easily and decide how much they want to invest. Individuals who contribute to the pool of capital can provide financial backing for other real estate investments. These opportunities can include residential or commercial holdings for housing development, retail or office space, and partial ownership of these properties.

Investors might choose real estate crowdfunding for many reasons, including:

To diversify their investment portfolio
Low capital requirement compared to other types of investment opportunities
Shared cost structure
Risk is split among stakeholders
Access to new investment opportunities
Doesn’t require owners to guarantee loans
No need to qualify for loans
Ability to hold commercial and residential real estate properties
Exposure to the real estate market without a large time investment

How Does It Work?

Crowdfunding is easy for businesses and inventors, and it’s fairly popular among individuals that want to grow their wealth without investing too much money or time in real estate. But unfortunately, real estate often requires owners to qualify and obtain a mortgage loan, which means a huge down payment and monthly costs.

Crowdfunding requires none of these same upfront costs, allowing investors to pool their money on crowdfunding sites to make a profit. Most investors only need a few hundred dollars and don’t have to worry about mortgage loans or maintaining their properties. Crowdfunded investments differ from Real Estate Investment Trusts (REITs) because they’re privately held and don’t pay regular earnings in the form of dividends. Instead, investors make a one-time or ongoing profit based on their investments.

Real estate providers can offer investors access to different real estate investments and markets that are unavailable to the public. They may even offer higher returns than REITs due to their higher degree of risk.

Since crowdfunding projects can fall through at any moment, investors can easily lose everything they invested with no chance of getting it back. Therefore, investors need to do their research and only invest what they’re willing to lose. Real estate crowdfunding should never be used as a way to generate substantial wealth; instead, you should only use it to diversify your existing portfolio, which consists of stocks, bonds, and other assets.

Real Estate Crowdfunding Pros and Cons

There are pros and cons to real estate crowdfunding for investors, so before committing to investing via crowdfunding, you should consider the various advantages and disadvantages.

Pros of Real Estate Crowdfunding

Real estate crowdfunding pays larger dividends and allows property owners to diversify their investment portfolios. Through crowdfunding, you’ll have access to opportunities you won’t publicly, eliminating any concerns that many property owners encounter. Additionally, there’s minimal upfront or ongoing investment compared to other types of real estate investing.

Cons of Real Estate Crowdfunding

Real estate crowdfunding typically requires you to sign up to use a specific platform, which may require fees. Additionally, unlike other investments like stocks, you can’t easily sell off your assets, and participants have to pay taxes on dividends. Crowdfunding also means that projects don’t have a long track record of success, so you don’t actually know whether or not to put your faith in a project or company. In addition, some platforms require you to become an accredited investor, which means you’ll need to pay more to participate.

How To Start Crowdfunding Investing

If you want to start investing in real estate through crowdfunding, you’ll need to choose a platform to use. There are many different types of platforms, so it’s important to do your research to find the best opportunities. You can use multiple platforms or just one, but you should read their guidelines for investing and how the process works. A few sites you can use to find real estate crowdfunding opportunities include:

Fundrise
RealtyMogul
CrowdStreet
YieldStreet

Compare the sites’ services, fees, terms, and opportunities. You should also look outside the platforms for reviews, including the pros and cons of the different platforms available. Finally, before you begin investing, consider how much you can afford to lose. Since your investments aren’t guaranteed, you should never invest more than you’re willing to lose.

When you’re ready to invest in a project, you’ll find these platforms are similar to other crowdfunding websites, so the process should be fairly straightforward. If you’re unsure how much to invest, consider talking to a financial advisor who can tell you what types of projects are good opportunities and how much money you should invest in them. Remember, the key is to diversify your portfolio, so these types of investments shouldn’t necessarily be used to grow your wealth.

Final Thoughts

Real estate crowdfunding allows you to expand your portfolio and dip your toe into the exciting real estate market. It’s ideal for individuals who don’t have a lot of money to start since you won’t have to worry about getting a loan to buy a home from a bank. But, of course, there are many other ways to invest in real estate, so do your research on stocks and different ways you can use the real estate market to grow your wealth.

Ashley Nielsen

Ashley Nielsen earned a B.S. degree in Business Administration Marketing at Point Loma Nazarene University. She is a freelance writer who loves to share knowledge about general business, marketing, lifestyle, wellness, and financial tips. During her free time, she enjoys being outside, staying active, reading a book, or diving deep into her favorite music.

The Advantages of a Turn-Key Home

A turn-key home is a new construction that includes all the finishing touches and is ready for occupancy.

It is easier than ever before to find the perfect turn-key finish home for your needs. There are many different styles of homes available, from traditional to modern, and you can customize the home to suit your tastes. You can also find a turn-key finish home with a yard or without, depending on what you’re looking for in the perfect property.

With so many options available, it’s no wonder that this option has become increasingly popular over the years.

What is a Turn-Key Home?

A turn-key home is a house that is ready to move into or occupy without any additional construction. It has all the necessary components, such as plumbing, electricity, and heating already installed.

The term “turn-key” can also be used in the context of a business, where it means that the business is fully operational and ready for customers. In this article we will concentrate on the advantages of a turn-key finish home.

What are the Benefits?

Buying a turn-key home is a great way to enter the real estate market, with minimal hassle. You can find turn-key houses in many different styles and sizes, so it is easy to find one that fits your needs.

A turn-key home may be built from modular or prefabricated parts. In this case the house has already been constructed in a factory and then transported to the site where it will be put together like a puzzle.

A turn-key building is usually cheaper than buying an existing house because the contractor does not have to pay any additional labour costs for constructing it on site.

A Turn-Key Home – Traditional Construction

The architect designs the layout of the house, and the builder builds it according to the design. The builder then hands over the keys to the homeowner, who can move in right away.

There are many benefits to building a turn-key house, such as having all of your needs met in one place without having to worry about finding separate professionals for every job. But there are also disadvantages, like not being able to customize your home as much or living with someone else’s design choices.

But the good news is that usually you can decide how much you like to get involved in the project. Most builders would let you choose colors, tiles, flooring etc. within a certain price range.

A Turn-Key Home – Prefabricated

A turn-key finish house that is prefabricated, is made in a factory and then assembled on site.

Prefabricated homes are also known as modular homes. These are assembled in a factory and then delivered to the construction site where they are put together. You can buy these houses from catalogues or from companies that specialize in this type of housing.

The process of picking from a catalogue means you have to find the house that fits your needs, order it, and wait for it to arrive to the construction site before you can start building it.

Prefabricated houses and modular houses have their own advantages and disadvantages. It’s important to understand these differences before you make your decision of buying one of them.

Conclusion

In conclusion, buying a turn-key building is great for people who are looking for a home that has everything they need and want. They don’t have to worry about the hassle of finding different contractors to install different things in the house.

Higher Interest Rates, Higher Prices for Materials – What it Means for the Construction Industry

This article will provide an overview of the current state of the construction industry, as well as what to expect from it in the future.

Construction projects are a major source of employment and economic growth, but they’ve been lagging in recent years due to a number of factors. It’s important that we take a closer look at these factors so we can better understand how they affect our economy and what we can do about them.

The construction industry is a crucial part of the economy. Construction jobs are projected to grow by 10% through 2022, according to the Bureau of Labor Statistics. It’s also one of the fastest-growing industries in the nation.

How Higher Interest Rates Affect the Construction Industry

Construction is a cyclical industry, and the market is currently in a period of expansion. However, higher interest rates can affect the construction industry in two ways. Firstly, they can lead to higher mortgage rates which will increase the cost of home ownership. Secondly, they can lead to decreased demand for homes which will decrease new construction starts.

Age Effect

The age effect is a factor that can cause the demand for housing to change. The changing of the factors in the population over time can impact on what people are looking for when they look to buy or rent a home. For example, older people typically want larger homes with more space and amenities due to their health and declining mobility. Younger people, on the other hand, want single-family homes with smaller spaces. Market conditions can also impact home values, meaning a property may be worth more during a boom or less during a bust.

How Expensive Material Affects the Construction Industry

The construction industry is a business that is highly dependent on materials. The cost of these materials can have a significant impact on the profitability of the company.

The price of materials has skyrocketed in recent years due to inflation and scarcity. This has made it difficult for companies to keep up with demand, especially smaller companies that cannot afford to pay higher prices.

The prices of these materials are not expected to change anytime soon, so companies will need to find ways to work around this problem if they want to remain competitive in the market.

One idea that is to build with cheaper materials, for example rammed earth houses. It is environmentally friendly, usually available on site and available at very little cost.

How to Prepare for a Future with Higher Interest Rates and Expensive Material

The conclusion is that the future of the economy is uncertain. We can’t predict the future and we don’t know how it will change. It’s up to us to prepare for any possible scenario – for example to consider alternative construction methods – and be ready for anything.

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How to Make Full-Time Travel a Reality with Passive Income

All year long most of us are looking forward for the few weeks when we can go on vacation and finally embrace our true passion: travel. If we could prolong this to a few months it would be a dream come true. If you can’t work while travelling another way to be able to do this is through passive income.

The pursuit of passive income has become increasingly popular these days. No wonder, because it gives people the freedom to pursue their passions without relying on their salary for sustenance. So now, you can start a travel blog or create content for another website where you can share your experiences with others and make money at the same time! Writing about you experiences in a travel blog is top of the list on how to generate some passive income while you travel. Another big one is to rent out your home while you are away.

The Wealth of Experiences that can be Achieved on Full-Time Travel

A full-time traveller can visit one of the best places in the world. He can go to an exotic location and enjoy the culture. He can also go to places which are more offbeat and less visited.

The world is a very large place, and it is imperative that you make sure that you take time out for your own self-discovery. This will give you valuable life experiences which you will never forget.

Making Your Travel Dreams a Reality

The steps to make your dream a reality is about goal setting, investing, and the mindset shift.

First you need to set goals that are achievable in the next one, three, five or ten years. The rule is simple, if you don’t have goals, you will not achieve them.

Then you need to invest in yourself by learning new skills or strategies. And lastly you need to change your mindset because there is no such thing as “too late”. You can achieve anything!

Creating Your Own Path in Life while Embracing Every Moment Along the Way

You have to create your own path in life while at the same time embracing every moment along the way.

It’s time to take control of your life and start making choices that will define who you are. You have to be making decisions on a daily basis about what you want for yourself and for others. It’s also important to set goals for yourself so that you can move forward with your life instead of just drifting around aimlessly.

Full-Time Travel with Passive Income as the Ultimate Goal

Making full-time travel a reality is not everyone’s ultimate goal. This might be your goal if you’re an avid world traveller or if you like to explore new cultures and experience different lifestyles. Many people, though, want to do it because it seems so awesome and romantic. They might be retirees who want to spend their days doing what they enjoy the most after working for 40+ years and saving up for their retirement.

Achieving this ultimate goal will take a lot of time, effort, and money. Some people do it by saving up money while they’re still working and then quitting their jobs to travel the world while others work hard until they quit their jobs at 65 or 67 or whatever age that is in your country.

Of course, wasting all your life and energy to only achieve this goal at an advanced age seems a bit sad. That’s why some came up with a way of making this work before – with passive income.

Make Your Maths – How much passive income is needed?

The first thing to do would probably be to get your numbers right. How much money do you need every month to support yourself during your trips (food, accommodation, transport, travel insurance…)? How much money do you need to keep things back home?

The next thing would be to look at how much money you could possibly generate through passive income, such as renting out your home, having a travel blog etc. if the numbers don’t add up you might need some money and more time to build up more ways to generate passive income. On the other hand, you can also explore ways to save money on your travels, such as living in a van.

How Does the Van Life Work and How to Make it Work for You?

“Van life” is a popular lifestyle choice for those who are looking for a simpler life. You can find people living in vans all around the world. They are called “Van Dwellers.”

Van Dwellers choose this lifestyle not because they have no other choice, but because it best suits their needs. Living in a van lets them travel the world, be mobile and do what they want to do without having to answer to anyone else. The idea of living in a van is not only about the freedom and adventure, but also about saving money and enjoying sustainable living with minimal impact on environment.

Every summer, we can see hundreds of vans parked along the beaches where there are public toilets and showers. There is hardly any cheaper way to live.

How to Live in a Van and Travel Full-time on Low Budget

Some van dwellers will spend hours each day on Instagram and Facebook to document their adventures and share tips with others interested in joining the community. Of course, having an internet connection is a must.

If they have enough followers, they can also enjoy the financial benefit that comes with it. But what if you are not good at writing at all? Some choose to make certain investments that will give them passive income.

Investments You Can Make on a Low Budget

When you think of investing, you might think, “wow! That’s a lot of money.” But it doesn’t have to be. In fact, there are many low budget investments that can make a difference in your life.

The key to making the most out of your limited budget is to know what will give you the best return on your investment. You may be able to make a low investment and with your own work turn it into a big one. For example, if you are a handyman, you could look out for a cheap house. By putting in your own work you probably are able to sell it for a lot more later or even rent it out for good money, giving you a regular income to finance your travels.

Real estate Investments are one of the best ways to generate a regular passive income. Some people for example have looked up apartment blocks for sale as it is a lot easier to manage a whole block than to have apartments scattered around the country. Also, there are some management companies that can handle all issues that might come up with the tenants. By getting someone to look after your building you have a lot more time to enjoy your next travel adventures.

6 Other Ways You Can Get Passive Income

No matter if you want to travel the world or just like to have some more time with your loved ones. We all like to have a bit more money in our lives and there is a lot of opportunity these days with the rise of e-commerce and e-business. There are so many ways to make money from your home or van! Here are six ways that have been proven as lucrative by those who have tried them out:

1) Rent your property on Airbnb

2) Sell old clothes

3) Sell online courses

4) Invest in the stock market

5) Create an app or website that people use often and continue to pay for it with ads or subscriptions

6) Become a freelancer

Five Tips to Buy Property Abroad

Owning a holiday house is everyone’s dream. People spend their years saving to buy a new build house or purchase land and gradually construct the house. Having a second home gives you the freedom to choose the details and design, be it choosing between outdoor composite decking and indoor marble flooring or choosing the colour of paint for your walls. You can allow your creativity to flow according to your taste.

If you have moved to another country and are looking for a property to purchase there, certain things should be considered. Here are some amazing tips for you to consider while buying property abroad:

Do Your Research:

Before you contact a real estate agent, you need to do primary research. Having a basic idea about property prices in an area where you want to live or invest is essential. This will help you shortlist not just one but many areas that you can browse to find your dream house. Ensure to read the reviews from clients of real estate agencies you are planning to contact since foreigners can fall prey to scams quite easily. Also, do check the currency exchange rate while making the purchase.

Hire an Estate Agent:

Buying a house directly from the owner sounds like a great idea, but it only works well if you are a native. There are many legal, linguistic and social constraints when you are buying property in a foreign country. Purchasing through a real estate agent from a recognized property dealer will surely benefit you. Since the agents are looking to make their profile strong by locking deals, they will ensure that everything is precisely the way you want it and in your best interest.

Get Your Documents Translated:

Make it a rule; always know what you are signing for. Even if you purchase the property via a real estate agent, you must pay attention to the documentation. Ask them to add a translation of the contract in your native language so you can be fully aware of the terms and conditions. Also, doing so will help you sell the property in the future since you will have complete documentation in a language that you understand.

Keep a Legal Representative Onboard:

Although your real estate agent can guide you through the entire property buying and selling process, you need to have a legal representative on board to ensure that everything is going smoothly. The laws might be way different than in your country and can even vary from state to state.

Having a legal representative will give you peace of mind that you are not breaking any laws and following every legal constraint of the area. Also, legal terms are technical, and your real estate agent might not be able to explain them to you. However, a legal representative will help you understand them conveniently.

Find Someone to Partner Your Purchase:

If you are buying a holiday house in your favourite country, finding a partner with whom you can co-own the property is a great way to finance your project. It can either be a friend or a family member. This will help in reducing the cost of property for you. This will be a simple way to invest, and also, you will get a permanent spot for a regular family get-together and parties.

Also, if you co-own a property, you can do half of the maintenance and renovation done along with your partner. Take some time to discuss all the finances with your partner and also the prospects. You and your partner won’t regret investing in this!

The Bottom Line:

Buying and selling property, particularly in a foreign land, can be tricky and time-consuming. However, having the proper legal support and a real estate agent from an authentic real estate agency can ease your task markedly. Make sure to invest wisely!