Any type of home improvement can bring you in more money when you are attempting to sell your home. However, there are six in particular that can really make a difference. Let’s take a look.
Making improvements in a kitchen is a worthwhile investment as the kitchen is the room where cooking, gathering and plenty of socializing are done. If your kitchen is outdated, does not let in enough light or is just plain listless consider renovating it. Successfully renovating a kitchen is not just about choosing the right kind of paint colors or the right type or flooring, it is about careful planning, finding quality material and hiring the right people to do it. Once you have made the major renovations make smaller changes such as repositioning furniture, buying new curtains and even investing in new lighting.
A bathroom is such an important room and it is a room that everyone notices. If the toilet, bathtub or sink need work by all means make changes. If the tiles behind the shower are coming off or are mildewing you want to replace the tub and put in a one-piece shower/tub unit, which is reasonable, inexpensive and easy to install. If your sink is in disrepair consider replacing the entire vanity. A new coat of paint can always do a bathroom good, as can new flooring and even a new light fixture. For finishing touches buy a new toilet mat and bath mat and a bright cheery shower curtain is always a welcome addition to any bathroom.
A living room is important because it is one of the first rooms you see upon entering a home. Many people today are replacing their worn carpeting with hardwood floor and then adding area rugs. This is always an attractive touch. Paint and lighting also go a long way in improving the ambiance of the living area. Pay attention to the drapes or blinds you choose to put in a living room and make sure you are able to let plenty of light in the room. Prospective buyers want to see a room that is open and inviting looking. Strive to make it so.
Basements are used for many purposes from the place where children play to where entertaining is done to where pets have their sleep area to where the man of the house keeps his tools. The whole house can be very appealing to the eye but if the basement is a disaster that is not good for prospective buyers to see. A basement renovation sound include attention being paid to ways to increase energy efficiency and comfort for the whole family as well as ways to brighten up the basement with as much light as possible. There is nothing worse than going into a damp, darkened basement and trying to feel comfortable. Heating and air quality must be addresses as well as they are essential for basement improvement. Be aware that adequate ventilation will go a long way in improving the quality of indoor air. Finally you might even want to consider putting in soundproofing as part of your basement renovation plans.
The exterior of your property is important too. Think improvements when it comes to the condition of your roof and the flashing around the chimney and walls of the house. As well make sure the chimney is in good condition and there are no loose bricks or mortar that is missing. Pay close attention to the foundation of your home and check the gutters and downspouts to make sure they are cleaning and working properly. Carefully inspect brick walls (if you have any) and remember that the electrical system of your home as well as plumbing fixtures are items any interested buyer will want to know about.
Finally the sixth home improvement is landscaping. Make sure your driveway and front and back lawns are neat and well manicured. During the summer months cut the grass when it is called for and water the lawn accordingly. As well do not let weeds take over your lawn and flower beds, shrubs and gardens are always an attractive addition to any property. You might even want to add patio blocks and decorative stones to the front or backyard. A flower garden or vegetable garden in the backyard is always a nice addition as is a little waterfall.
Showing posts with label Vancouver real estate agent. Show all posts
Showing posts with label Vancouver real estate agent. Show all posts
Sunday, January 20, 2008
Monday, November 26, 2007
Pros and Cons of Buying a Vancouver Rental Property as an Investment
Purchasing a rental property as an investment in Vancouver, BC, is a risky business that also can bring in quite a bit of revenue. There are disadvantages and advantages of owning rental property.
The biggest advantage of owning Vancouver rental property is that it can provide you with a regular income. You will usually receive a monthly rental payment from your tenants that rent from you. If you purchase rental units in new neighborhoods like Yaletown, False Creek, Kits and others, with a low crime rate you will be likely to fill that unit up fast.
You can also take advantage of purchasing vacation rental property, which is also a very lucrative investment. You can make a profit renting out rooms and houses by the day, week, month, or even season. In the process you can make quite a bit of profit off of vacation rental property, especially if you own vacation property in a popular visiting location, like Vancouver, Yaletown, False Creek or Whistler, BC.
One of the disadvantages of buying rental property is the cost and responsibility of upkeep. You are the owner, so you will be responsible for providing lawn maintenance, plumbing repair, as well as basic upkeep such as replacement of windows, locks, and more. It can be quite expensive, especially if you have a large property, because you will have to hire other people to do the maintenance for you.
Another disadvantage is that it could be hard to find a good renter in Vancouver. However, you have the right to choose who you want to rent in most cases. You will have to be careful in regards to discrimination, however. So you will need to be careful.
Your rental property can go up in value instead of down in value if you keep that property in as good of a shape as possible, especially in hot markets like Vancouver and Whistler. Also, if you have kept that property for a while and have made a profit from it that will also be a sing for both lenders and buyers that the property you have rented out will be of value.
One way to make your experience as a landlord (or landlady), which is what you are if you purchase Vancouver rental property for the benefit of making a recurring profit, is to require your tenants to sign leases. In that lease will be all the rules and provisions that you would expect your tenants to live by.
Just think, when you draw up a lease agreement, you can think of all the landlords you used to despise, and you now get to be like them. It’s not that you have to be mean, but you will need to have a backbone if you expect to be able to enforce the leasing agreement that you have written up between you and your tenants.
Quite a bit of information is covered in leases. For example, if decide to own an Vancouver apartment complex you will have to designate quite hours and times to do laundry. If you own a luxurious hotel you may require a deposit on the room key or other valuables within the room. You are advised to write up as extensive of a lease necessary to help keep peace between you and your tenants.
Not only would you include your tenant’s responsibilities and the rules in the leases that you create, but also the tenant’s rights. If they have a question or concern they will want you or someone in your office to take care of it as soon as possible. Concerns that tenants may have are excessively loud tenants, abuse in the building, theft, vandalism and so on. This is being told to you to scare you out of being a landlord, but to prepare you for anything to happen-both good and bad.
If you think that you are up to the challenge of purchasing rental property in Vancouver you will need to decide which types of rental properties are the best for you. If you decide after all that rental property is not the right type of real estate venture for you, chances are you can sell your rental property to someone else.
In fact, if you keep up the rental property for the time you have it you can possibly sell it for a higher price than you paid for it. Make sure you take good care of your rental property in case you would like to sell it later on.
To read more about landlord and tenant responsibilities you can contact your local Vancouver housing office. Your local housing office may even have a website address you can visit. A good realtor like Amalia Liapus, A top RE/MAX realtor can also help you.
Technorati Tags: Vancouver realtors, Vancouver real estate, Vancouver real estate agent, Vancouver realtor.
The biggest advantage of owning Vancouver rental property is that it can provide you with a regular income. You will usually receive a monthly rental payment from your tenants that rent from you. If you purchase rental units in new neighborhoods like Yaletown, False Creek, Kits and others, with a low crime rate you will be likely to fill that unit up fast.
You can also take advantage of purchasing vacation rental property, which is also a very lucrative investment. You can make a profit renting out rooms and houses by the day, week, month, or even season. In the process you can make quite a bit of profit off of vacation rental property, especially if you own vacation property in a popular visiting location, like Vancouver, Yaletown, False Creek or Whistler, BC.
One of the disadvantages of buying rental property is the cost and responsibility of upkeep. You are the owner, so you will be responsible for providing lawn maintenance, plumbing repair, as well as basic upkeep such as replacement of windows, locks, and more. It can be quite expensive, especially if you have a large property, because you will have to hire other people to do the maintenance for you.
Another disadvantage is that it could be hard to find a good renter in Vancouver. However, you have the right to choose who you want to rent in most cases. You will have to be careful in regards to discrimination, however. So you will need to be careful.
Your rental property can go up in value instead of down in value if you keep that property in as good of a shape as possible, especially in hot markets like Vancouver and Whistler. Also, if you have kept that property for a while and have made a profit from it that will also be a sing for both lenders and buyers that the property you have rented out will be of value.
One way to make your experience as a landlord (or landlady), which is what you are if you purchase Vancouver rental property for the benefit of making a recurring profit, is to require your tenants to sign leases. In that lease will be all the rules and provisions that you would expect your tenants to live by.
Just think, when you draw up a lease agreement, you can think of all the landlords you used to despise, and you now get to be like them. It’s not that you have to be mean, but you will need to have a backbone if you expect to be able to enforce the leasing agreement that you have written up between you and your tenants.
Quite a bit of information is covered in leases. For example, if decide to own an Vancouver apartment complex you will have to designate quite hours and times to do laundry. If you own a luxurious hotel you may require a deposit on the room key or other valuables within the room. You are advised to write up as extensive of a lease necessary to help keep peace between you and your tenants.
Not only would you include your tenant’s responsibilities and the rules in the leases that you create, but also the tenant’s rights. If they have a question or concern they will want you or someone in your office to take care of it as soon as possible. Concerns that tenants may have are excessively loud tenants, abuse in the building, theft, vandalism and so on. This is being told to you to scare you out of being a landlord, but to prepare you for anything to happen-both good and bad.
If you think that you are up to the challenge of purchasing rental property in Vancouver you will need to decide which types of rental properties are the best for you. If you decide after all that rental property is not the right type of real estate venture for you, chances are you can sell your rental property to someone else.
In fact, if you keep up the rental property for the time you have it you can possibly sell it for a higher price than you paid for it. Make sure you take good care of your rental property in case you would like to sell it later on.
To read more about landlord and tenant responsibilities you can contact your local Vancouver housing office. Your local housing office may even have a website address you can visit. A good realtor like Amalia Liapus, A top RE/MAX realtor can also help you.
Technorati Tags: Vancouver realtors, Vancouver real estate, Vancouver real estate agent, Vancouver realtor.
Monday, October 29, 2007
Five Secrets to Finding the Vancouver Home of your Dreams
Everyone dreams of finding the home in Vancouver that suits their family perfectly. It’s important to remember that during your search for your dream home that finding your dream home starts with you. Throughout your journey you will find yourself being derailed by one thing or another. Everyone will try to give you advice on where is the best location, which is the best Vancouver realtor, who is the better contractor, and so on. The first thing to do is to determine the area you want to find a house in. Your dream home should not be too far away from your work place, family members, and schools. It is wise to enlist a real estate agent to help you buy the house from the original owner. There are several websites that allow you to key in an area code and they will provide you with a whole list of houses on sale in that area. If your dream house is listed, you’re in luck. They will assign a realtor to work with you on buying your dream home.
The next step towards buying your Lower Mainland dream home is financing. If you are lucky enough to have the cash you can buy your dream home rather easily. Most people do not have this option so it is best to start researching an affordable and viable home loan. The process between signing the agreement to getting to the loan to having the keys handed to you is a long one. This may be the time that you choose to find a contractor to design and construct your dream home for you. The best way to find a suitable contractor is to ask around as there is nothing like a referral. A positive referral means the customer was satisfied with the services that were performed by the contractor. Designing and constructing your dream home is a wonderful experience, which is also very difficult.
It is important to stay open minded when looking for your dream home. By doing this, you’ll learn things you never realized. Your ideal of the perfect home will change and evolve over the years so it is best to try to have a better understanding of what you want by taking a close look at several houses in places like Coal Harbour, Yaletown and Point Grey. Many people will only look at a house if they like its appearance.
Typically, the house’s exterior can easily be changed and they may be so dramatic that you will not realize you are looking at the same house. You may also discard the idea of a particular home if you do not see the hidden potential. It is wise to see if rooms possibly serve another purpose, one you may have not originally seen upon first inspection. Some people spend years searching for the perfect home in Vancouver, BC. It is unlikely that you will find it as the perfect home is a fantasy. While home shopping you should be realistic and ask yourself what the features are that you must have and the features that you want to have.
Once you have been pre-approved for a mortgage loan it is time to actually start house hunting with a realtor like Amalia Liapis. Your mortgage lender will give you a letter stating you have been pre-approved for a mortgage and the amount you are authorized to borrow. You will need to present this letter to the real estate agent when you get started. It is important to get pre-approved for a mortgage loan before beginning your home search. Both the real estate agent and real estate company will be much more willing to work with you if they know you can afford the home you are looking at. Also, the seller will be more likely to take your offer more seriously if a pre-approval letter accompanies it from your mortgage lender.
Once you have found your dream home, it is time to make an offer on the property. If the seller accepts your first offer your negotiations are over and you’re ready to start preparing for your move into your dream home. It is more likely however that you’ll receive a counter offer from the seller. The negotiation process can either go on for short or long amount of time, depending on factors like the motivation of the seller. Once the sale has been completed you will be handed the keys for your Vancouver dream home.
The next step towards buying your Lower Mainland dream home is financing. If you are lucky enough to have the cash you can buy your dream home rather easily. Most people do not have this option so it is best to start researching an affordable and viable home loan. The process between signing the agreement to getting to the loan to having the keys handed to you is a long one. This may be the time that you choose to find a contractor to design and construct your dream home for you. The best way to find a suitable contractor is to ask around as there is nothing like a referral. A positive referral means the customer was satisfied with the services that were performed by the contractor. Designing and constructing your dream home is a wonderful experience, which is also very difficult.
It is important to stay open minded when looking for your dream home. By doing this, you’ll learn things you never realized. Your ideal of the perfect home will change and evolve over the years so it is best to try to have a better understanding of what you want by taking a close look at several houses in places like Coal Harbour, Yaletown and Point Grey. Many people will only look at a house if they like its appearance.
Typically, the house’s exterior can easily be changed and they may be so dramatic that you will not realize you are looking at the same house. You may also discard the idea of a particular home if you do not see the hidden potential. It is wise to see if rooms possibly serve another purpose, one you may have not originally seen upon first inspection. Some people spend years searching for the perfect home in Vancouver, BC. It is unlikely that you will find it as the perfect home is a fantasy. While home shopping you should be realistic and ask yourself what the features are that you must have and the features that you want to have.
Once you have been pre-approved for a mortgage loan it is time to actually start house hunting with a realtor like Amalia Liapis. Your mortgage lender will give you a letter stating you have been pre-approved for a mortgage and the amount you are authorized to borrow. You will need to present this letter to the real estate agent when you get started. It is important to get pre-approved for a mortgage loan before beginning your home search. Both the real estate agent and real estate company will be much more willing to work with you if they know you can afford the home you are looking at. Also, the seller will be more likely to take your offer more seriously if a pre-approval letter accompanies it from your mortgage lender.
Once you have found your dream home, it is time to make an offer on the property. If the seller accepts your first offer your negotiations are over and you’re ready to start preparing for your move into your dream home. It is more likely however that you’ll receive a counter offer from the seller. The negotiation process can either go on for short or long amount of time, depending on factors like the motivation of the seller. Once the sale has been completed you will be handed the keys for your Vancouver dream home.
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