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Real Estate: Buying, Renting & Selling : Ten Mistakes Home Buyers Make When Buying a Home
Feb 05 2011
Posted by Greg Reed as Article Writing
A few mistakes home buyers make when buying a home include not hiring a real estate agent, getting emotionally attached to properties and not looking at enough properties to get an idea for the market. Avoid these common home-buying mistakes withinformation from a Massachusetts Realtor in this free video on real estate. Expert: Beau Sasser Contact: www.northamptonrealtor.com Bio: Beau Sasser has been at Goggins Real Estate in Northampton, Mass. for many years, previously working for Sasser Properties in Aspen, Colo. and EcoFriendly Properties in Destin, Fla. Filmmaker: David Pakman
10 Things to remember when buying waterfront property/real estate
Jan 20 2011
Posted by Greg Reed as Prospecting
10 Things to remember when buying waterfront property/real estate
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Home Page > Home Improvement > Moving and Relocating > 10 Things to remember when buying waterfront property/real estate
10 Things to remember when buying waterfront property/real estate
Posted: Nov 15, 2010 |Comments: 0
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You have saved your whole life waiting to build the fairytale home on the fairytale waterfront lot. Just make sure that buying the dream doesn’t turn into a nightmare. Purchasing waterfront real estate can be one of the biggest investments that you will ever make. Do your home-work, and due diligence by following these 10 steps.
1. Don’t by sight unseen. Go look at the property. Go during different times of the day to see when and where the sun rises, and sets. This will help you determine which way your house plan needs to be oriented so as to maximize light exposure through the desired windows. Also, when the house plan is oriented in that direction, does it still have desirable curb appeal?
2. Check flood maps. Make sure that your property is not in a flood zone. If it is in a flood zone, check to see what the insurance costs will be. When was the last time that land in that area flooded? How high did the water reach? This will help determine how high the land needs to be built up in order to stay dry. Ask neighbors about the water level. How often over the last century has it flooded? This will help you determine if it was a one-time occurrence or a regular occurrence. When you walk around on the land, does it feel soft? Check with a local substructure contractor, and make sure that they will waterproof your foundation in that area with a life-time guarantee.
3. Make sure that the land is not in a state regulated protection area. Is it a designated wetland? If so, you may not be able to build there at all. If you are allowed to build, you will most likely have to go through a lengthy petition period where you will have to be granted permission to disturb the land under strict guidelines, which could include creating another suitable wetland to replace the same area that you disturb. This could add on considerable amount of costs
4. Check to make sure that there are utilities at the road. Make sure that there is gas, electric, broadband, water sewer. If not, you should have the land tested to make sure that there is water in the area, and how deep the wells in the area go. Have a percolation test done on the land to make sure that a sewer system is permissible by the local health department. These can all get very costly if the well is extremely deep, or if an above ground septic system has to be installed.
5. Check to make sure that you have riparian rights to the complete water frontage of the property. That means that you own all of the water in front of your property. Not just partial. That way you ensure that you don’t have a public area in front of your dream home, disturbing your privacy.
6. Check the local taxes to see if the millage rates differ for waterfront property. Many times the taxes will increase on properties that have a water view, or are waterfront. This could really eat into your monthly budget if not allocated properly.
7. If you have a house plan picked out, or you have already purchased one, make sure that it will fit on the lot. That entails asking your local municipality what the local set-backs are. A set-back is how far off the property lines you must be to start your foundation, or the farthest part of your roof-line.
8. Check to see if the lot is in an association, or condominium development unit. If so, check to see what the annual, or monthly association fees are, and if there are any assessments currently due on the property. Also, check the condominium by-laws to see if there are any restrictions that you disagree with.
9. Make sure that your local municipality will allow a dock, or waterfront deck to be built.
10. If the land is in a remote area inquire as to who will be maintaining the road, or means of egress/ingress. This could be county, state, or private.
I hope that this information has been helpful in avoiding many common pitfalls when it comes to purchasing waterfront real estate. I am a real estate agent, and developer/builder, and trust me, you don’t want your dream turning into a nightmare.
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Ryan Green is a licensed Realtor/Builder in the state of Michigan, and is committed to helping you find the right home or piece of land in southwest Michigan to help the sun set on your dreams.
Ryan D. Green
Green Towne Coastal Realty
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10 Things to remember when buying waterfront property/real estate
Tips for buying waterfront property/land. Don’t let the biggest purchase of your life turn into your biggest nightmare!
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Ryan Green is a licensed Realtor/Builder in the state of Michigan, and is committed to helping you find the right home or piece of land in southwest Michigan to help the sun set on your dreams.
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Green Towne Coastal Realty
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Dec 18 2010
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Do’s and Dont’s While Buying Estate Investment Real Estate
Posted: Mar 28, 2009 |Comments: 0
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There a several proven ways to indulge in buying estate investment real estate and put yourself on the road to real estate wealth. Investors often “flip” properties by buying a property, renovating it soon after and then selling it for a profit. This method is proved to work for investors who study the market carefully and make good assumptions about the profit they might make by buying estate investment real estate at a certain point of time. Although it is a good idea to invest now, buying estate investment real estate is not as liquid as investing money in the stock market. So unless you have the right kind of expertise, it is advisable to opt for a different kind of investment.
Do’s:
- Research alone may not help at all times. While buying estate investment real estate, it is important to consult a local real estate professional. This will provide you help in finding and evaluating an investment property before you can buy it.
- The location that the property is situated in always impacts the value of any piece of real estate. Research about current position of the property is a must.
- Whether the property chosen is affordable for you or not must be looked into rationally before making the decision, which involves some more homework. Budget every expense that might be involved in the process.
- Having an achievable exit strategy even before entering is very important while buying estate investment real estate. It is a big investment decision and unless you have a ‘plan B’, it could be highly risky. Especially with the current economic situation, when the real estate business is susceptible to sudden changes, this step is a must.
Dont’s:
- Do not overpay for the property. Good research and consulting professionals will help you avoid this mistake. Sometimes, mismanaged properties that require some fixing up work can be profitable as well. So make sure you double-check each prospect many times.
- Abide by the rules. Do not overlook or disobey any rules and regulations. There are strict laws in the real estate field and noncompliance could result in hefty fines.
- After buying estate investment real estate, if you wish to give it out for rent or lease, make sure you know the prospective clients, their credit and employment details. Whether they will be able to afford the regular payment scheme that is agreed upon or not should be looked into.
- Do not take on more than you can handle. While buying estate investment real estate, start off on a small scale. Investing too much at once increases your risk of losing everything at one shot. Major investments made in areas that won’t provide a decent rate of (ROI) return on investment should be avoided.
- If you enter a partnership, you should be comfortable with the arrangement. At least one of the partners should have good knowledge of the business.
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