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All things You Want to Know Before Buying an Overseas Property

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All things You Want to Know Before Buying an Overseas Property


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Home Page > Finance > Real Estate > All things You Want to Know Before Buying an Overseas Property

All things You Want to Know Before Buying an Overseas Property

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Posted: Aug 20, 2008 |Comments: 0

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All things You Want to Know Before Buying an Overseas Property

By: Prudence Wong

About the Author

Prue and her 1-of-a-kind site at http://www.realestatebloom.com (where else?)helps you to make money in ways you’ve never known. Discover how to be a millionaire making money via real estate investment within days, even in a down market!

(ArticlesBase SC #528994)

Article Source: http://www.articlesbase.com/All things You Want to Know Before Buying an Overseas Property





I know many people who own overseas vacation home and they all tell about that with very high pride. I know many people who nourish the dream of becoming an owner of an imposing vacation home in overseas. It is true that you will select a location in overseas, which is perfectly suitable for vacation with picturesque scenic beauty and pleasant ambience.


It is very important to have the deal safely and securely, without ending up in troubles in the deal. Many things are out there in this field, which is essential to know before venturing out to purchase a property in overseas. There can be many pitfalls and traps in the deals, so it is imperative know about these to avoid any unsavory circumstances.


As any one of us knows, real estate business is on a roll always. There can be fluctuations in the market prices, some times the market will be in the upwards trend while some other time it can be in downward route. Also real estate markets behave differently in different countries. So if you are looking for a property purchase in an overseas, you should first know the economic and real estate trend in that location of that country.


A very important factor to be considered is the legal implications. Different countries will have different legal systems for real estate deals. It is absolutely necessary for you to get a full understanding of the rules, regulations, documentation procedures and tax systems of the country in which you plan to invest in real estate or planning to purchase a vacation home.


Most of the people going for vacation homes overseas look for some extra money out of it. If you plan to make it a holiday home to be rented out, it should be easily accessible, otherwise it will loose its popularity. So make sure that the property in overseas is easily accessible, especially by air. It will add up the value of the home as well.


I have real experience in this filed. It is really very difficult for anyone of us to get a best deal without the help of a real estate agent. He will have more experiences in this field and he could clear all of your concerns and doubts about the purchase of the vacation home abroad. You may not know fully about the locations where you intend to buy the home and hence it is a necessity for you to get the help of the real estate agent.


You have to bring in the service of a reputed and qualified real estate agent to make a worthy investment. I am sure you will extol the services of the real estate agent in this deal.

Retrieved from “http://www.articlesbase.com/real-estate-articles/all-things-you-want-to-know-before-buying-an-overseas-property-528994.html

(ArticlesBase SC #528994)

Prudence Wong -
About the Author:

Prue and her 1-of-a-kind site at http://www.realestatebloom.com (where else?)helps you to make money in ways you’ve never known. Discover how to be a millionaire making money via real estate investment within days, even in a down market!

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Buying a Rural Property ? First Steps

December 1 2010   Leave a Comment   Tags: , , , ,

Buying a Rural Property – First Steps


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Home Page > Finance > Real Estate > Buying a Rural Property – First Steps

Buying a Rural Property – First Steps

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Buying a Rural Property – First Steps

By: Dena Davis

About the Author

Purchasing Austin real estate has never been easier. The professional realty team at DavisCompany.com can help you find the perfect Northwest Austin real estate.

(ArticlesBase SC #443488)

Article Source: http://www.articlesbase.com/Buying a Rural Property – First Steps





Perhaps for years you’ve dreamt of owning a place in the country – maybe a small ranch in Colorado, or a private lakefront lot in Minnesota, or maybe your own ski chalet in the Rocky Mountains. Today’s low real estate prices combined with great interest rates are making it possible for more people to realize this dream. Before you get out your checkbook, here are some things to consider before taking the plunge.

1. Determine what things are important to you. If you are an avid skier and find yourself spending the equivalent of a mortgage down payment in condo rentals every year, maybe purchasing a property closer to the slopes is just what you need. Keep in mind, however, you won’t have the freedom to move around, so choose a location you’ll want to return to year after year. If you’re only thinking about taking up a new sport or hobby, consider renting for a few seasons to ensure your dream still holds the same appeal once it becomes a reality.

2. What sorts of ties do you have to your current home? Do the kids come to visit on holidays? How will your having a second home affect your family routines?

3. Begin to zero in on the perfect location for your rural home by making a list of all areas that fit. List your favorite sports and past times, desirable weather, geography (do you want mountain living or beachfront), available employment opportunities, ethnic or social conditions, taxes and utilities, and price range.

Next, do some research and determine which states are most compatible with your needs. Try to get your list down to about three favorites.

4. Contact the chamber of commerce and local government agencies for as much information as they will send you and begin compiling a portfolio on each region.

5. If this is not an area you’ve previously visited, try renting a place for at least a few weeks to get a feel for the place. Another option is to visit some home sitting sites such as HouseCarers.com to check for house sitting opportunities in the area. It’s one of the best ways to immerse yourself in an area and feel like part of the community.

6. Once you’ve planned your visit, contact area realtors and make appointments to tour some houses. Send them a list of the properties you want to view as well as your list of criteria and maximum price range. The agent will undoubtedly include other houses on the tour; and you may find it helpful to take notes and pictures of your favorites as they will all start to blend together after awhile.

7. Revisit your favorite homes, inspecting inside and out, looking for obvious deficiencies such as water stains, leaks, odd smells, leaky faucets, or poor water pressure. Find out the age of the roof, furnace, well and septic (if applicable) and request maintenance records.

8. Once you’re ready to submit an offer, make it contingent on a successful home inspection by a professional. Add up any of the big ticket items you may need to repair or update and deduct the costs from the asking price. Note that the seller will be responsible for the cost of the survey, and any other pertinent inspections such as water, soil, structure, etc. You should reserve the right to cancel the deal if any of these inspections produce what you consider an unsatisfactory result.

Retrieved from “http://www.articlesbase.com/real-estate-articles/buying-a-rural-property-first-steps-443488.html

(ArticlesBase SC #443488)

Dena Davis -
About the Author:

Purchasing Austin real estate has never been easier. The professional realty team at DavisCompany.com can help you find the perfect Northwest Austin real estate.

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Purchasing Austin real estate has never been easier. The professional realty team at DavisCompany.com can help you find the perfect Northwest Austin real estate.

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Buying a Rural Property ? First Steps

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Buying a Rural Property – First Steps


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Home Page > Finance > Real Estate > Buying a Rural Property – First Steps

Buying a Rural Property – First Steps

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Buying a Rural Property – First Steps

By: Dena Davis

About the Author

Purchasing Austin real estate has never been easier. The professional realty team at DavisCompany.com can help you find the perfect Northwest Austin real estate.

(ArticlesBase SC #443488)

Article Source: http://www.articlesbase.com/Buying a Rural Property – First Steps





Perhaps for years you’ve dreamt of owning a place in the country – maybe a small ranch in Colorado, or a private lakefront lot in Minnesota, or maybe your own ski chalet in the Rocky Mountains. Today’s low real estate prices combined with great interest rates are making it possible for more people to realize this dream. Before you get out your checkbook, here are some things to consider before taking the plunge.

1. Determine what things are important to you. If you are an avid skier and find yourself spending the equivalent of a mortgage down payment in condo rentals every year, maybe purchasing a property closer to the slopes is just what you need. Keep in mind, however, you won’t have the freedom to move around, so choose a location you’ll want to return to year after year. If you’re only thinking about taking up a new sport or hobby, consider renting for a few seasons to ensure your dream still holds the same appeal once it becomes a reality.

2. What sorts of ties do you have to your current home? Do the kids come to visit on holidays? How will your having a second home affect your family routines?

3. Begin to zero in on the perfect location for your rural home by making a list of all areas that fit. List your favorite sports and past times, desirable weather, geography (do you want mountain living or beachfront), available employment opportunities, ethnic or social conditions, taxes and utilities, and price range.

Next, do some research and determine which states are most compatible with your needs. Try to get your list down to about three favorites.

4. Contact the chamber of commerce and local government agencies for as much information as they will send you and begin compiling a portfolio on each region.

5. If this is not an area you’ve previously visited, try renting a place for at least a few weeks to get a feel for the place. Another option is to visit some home sitting sites such as HouseCarers.com to check for house sitting opportunities in the area. It’s one of the best ways to immerse yourself in an area and feel like part of the community.

6. Once you’ve planned your visit, contact area realtors and make appointments to tour some houses. Send them a list of the properties you want to view as well as your list of criteria and maximum price range. The agent will undoubtedly include other houses on the tour; and you may find it helpful to take notes and pictures of your favorites as they will all start to blend together after awhile.

7. Revisit your favorite homes, inspecting inside and out, looking for obvious deficiencies such as water stains, leaks, odd smells, leaky faucets, or poor water pressure. Find out the age of the roof, furnace, well and septic (if applicable) and request maintenance records.

8. Once you’re ready to submit an offer, make it contingent on a successful home inspection by a professional. Add up any of the big ticket items you may need to repair or update and deduct the costs from the asking price. Note that the seller will be responsible for the cost of the survey, and any other pertinent inspections such as water, soil, structure, etc. You should reserve the right to cancel the deal if any of these inspections produce what you consider an unsatisfactory result.

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(ArticlesBase SC #443488)

Dena Davis -
About the Author:

Purchasing Austin real estate has never been easier. The professional realty team at DavisCompany.com can help you find the perfect Northwest Austin real estate.

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In This Day And Age What Are The Advantages Of Buying A House, Property Or Cottage?

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Home Page > Finance > Real Estate > In This Day And Age What Are The Advantages Of Buying A House, Property Or Cottage?

In This Day And Age What Are The Advantages Of Buying A House, Property Or Cottage?

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In This Day And Age What Are The Advantages Of Buying A House, Property Or Cottage?

By: Kerry A. Francis

About the Author

Property Taxes Too High? Lake Manitoba Cottages Beaches in Manitoba

(ArticlesBase SC #303311)

Article Source: http://www.articlesbase.com/In This Day And Age What Are The Advantages Of Buying A House, Property Or Cottage?





In this day and age you may well be asking yourself “What are the advantages of Buying a House, Condo or Property?” There are certainly many advantages of buying a home – both financial, tax wise and most importantly to provide a home and not a temporary dwelling for your family. To a great degree you are in essence “Where you live”.

It is true that you may read in the popular media that a major devaluation in the house market in underway. Look to the long term. Things may go up and down. There may be corrections. However in the long term “They are only making so much land” and “Everyone has to live somewhere”. Consequently over the long term real estate and property prices have always been increasing and have always been a good investment.

If you will notice – rich people seldom are renters. It may be argued that in a rental property the owner takes the hit on repairs and taxes.

It can always be debated as to whether that the mortgage payment s that you make to the bank or finance company are “forced savings” and that you are really not ahead in a financial sense. Whether this is true or not at the end of the day, if you own the property, you will have a substantial asset of worth, whereas if you are a renter, when you close the door, or they carry you out, you will leave with and have accumulated nothing in a financial or financial asset sense.

In addition to the accumulation of financial assets over time when owning property there are additional financial tax advantages to owning property rather than renting. First mortgage interest and real estate property taxes are tax deductible. A penny saved is always a penny earned. Anyone who is paying a mortgage can enjoy these tax benefits for the interest paid on their mortgage as well as property taxes paid. What is important to understand is that in the first few years of your mortgage, most of the money you pay to the bank, credit union or S & L goes towards payment of interest. Not the amount that you owe on the loan (the principal). The financial institution that gave you the mortgage wants to get their piece first. This is not a bad thing for you. Indeed it is in your favor. Your biggest interest charges and hence biggest tax deductions will be in those early years of your mortgage payments. If you understand the rules, as well as follow these rules to the letter – then the mortgage and mortgage tax deduction rules are your favor. You cannot stop the sea and you cannot stop the process of the power of compound interest. In essence someone else will be helping you along the property asset accumulation road as you buy your first home – whether it is starter home, country property or condo and move along the road of home ownership. As you continue to upgrade your home and properties over the years you can be reassured that as long as present rules stay in force – these tax deductions will act greatly in your favor towards your real estate assets and personal worth.

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Property Taxes Too High? Lake Manitoba Cottages Beaches in Manitoba

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Buying A Spanish Property – How Do You Finance It?

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Buying A Spanish Property – How Do You Finance It?


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Buying A Spanish Property – How Do You Finance It?

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Buying A Spanish Property – How Do You Finance It?

By: Rajat Jain

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Article Source: http://www.articlesbase.com/Buying A Spanish Property – How Do You Finance It?





Once you have decided on the home you wish to buy you need to know how to finance it. There are several ways in which you can do this. If you are lucky enough to have the cash in the bank then you don’t need to worry about the actual financing of it – however take a look at the section on exchanging your money as this could save you a lot of money. If you don’t have the finances readily available how do you finance the property?

The main ways are * Arranging a Spanish Mortgage * Arranging a mortgage with a UK lender * Re-mortgaging your existing property * Builders finance

Arranging a Spanish Mortgage Most Spanish banks will lend to foreigners providing they can prove an ability to repay. Prior to applying you will need a bank account and, although banks don’t insist you have an account with them- they would obviously prefer it if you did.

The requirements are similar to the UK. Banks will lend upto 70% of the property value to foreigners (80% in some cases though this is now harder with a tightening market). However, this depends on the bank, the director and the property. It is easier to get a high mortgage on a new or nearly new property than it is to get a small mortgage on a ruined Finca needing a lot of work – banks don’t appreciate the potential value of the property – only the current value.

The bank will require proof of income and in some cases your outgoings. Therefore you will need your pay slips for the previous 3 months and proof of outgoings. If self-employed you’ll need to show accounts for the previous 2-3 years.

Most banks insist on life insurance and most mortgages are repaid over 10-15 years but they can extend to 30 years in exceptional circumstances, however most banks will insist on repayment before the age of 70. It is also possible you may need a guarantor – I for example had to guarantee my parents mortgage as they are both retired (although their pensions were more than I earned).

Spanish banks charge from 0.5% – 3% of the mortgage value for taking a mortgage with them (it isn’t enough that you’re paying interest as well). It’s possible to reduce this if you persist – so ask your bank – you may get a discount on this fee. (If you don’t speak Spanish ask your agent to do so- but beware he may be getting a commission from the bank and may be reluctant to.)

You will need to think about the monthly cost when transferring money to Spain for the mortgage. If you have bought to let then the rental should cover the monthly repayments. If not then you may be as well looking into transferring money through a specialist- such as http://www.currencyuk.co.uk – who have provided our clients with excellent service in the past.

Currency fluctuations and transfer fees can cost you a fortune and your bank is not the best to deal with – they have little experience in the currency market. For example a friend bought a house here and her Euros cost her £500 more (on £14,000) by using her bank than if she has used a currency broker.

Obviously it’s your money but a broker is able to buy currency at a commercial rate as they deal in currency every day. They can even secure a fixed exchange rate for up to 12 months – so you know in advance the cost of buying your home. If you are using this sort of service for your monthly mortgage payments, you may be better transferring 6 months at a time because they generally don’t deal in amounts less than £5,000.

The process of applying for a Spanish Mortgage.

Applying for a Spanish mortgage is usually a case of visiting the bank and speaking to the director. They will fill in the forms for you so you just need to sign. Once he has established your credentials he will give you a preliminary yes or no. Once a yes is given it is dependent upon a satisfactory survey. Although the final decision is taken by the banks head office, seldom the decision given by the director overturned.

Arranging a UK Mortgage

There are many UK lenders who will lend against a Spanish property but these are more expensive than a Spanish Mortgage. However, it is always wise to check every avenue before committing yourself.

The approval process is similar to getting a buy to let mortgage in the UK in that you would have to prove around about 125% of the potential mortgage payments in rental income.

The amount you can borrow for a property in Spain also depends on the property valuation. Obviously, the higher the valuation, the more you can borrow. For UK mortgages (or offshore mortgages) the Loan to Value is generally a lot lower than getting a mortgage in Spain.

So what are the advantages of a UK based mortgage? Firstly you will be no language problems. Secondly the repayments will be in Sterling so there will be no exchange rate concerns if the rate fluctuates wildly – you will always know what you will be paying.

However, if you are buying a property to rent then it may be advisable to have a Spanish mortgage – especially if the rental income will be paid in Euros. However the final decision to go for a Spanish Mortgage or UK one lies with you.

Re-mortgaging your existing property

The easiest way of raising finance for your property in Spain is to re-mortgage your existing property. This obviously depends on the equity you have in your existing home and your income in respect of the amount you would like to borrow. However the bank already knows you so the process is more straightforward, the amount you can borrow is not dependent on the value of the property you are buying therefore your dream Finca is more realistic) and the process takes less time than obtaining a UK Mortgage.

Builders finance

Many developers of properties can now offer upto 80% mortgages for non residents. This is achievable because of the value new properties generally represent when buying off Plan. However for off plan investments it is very difficult to get a mortgage until the certificate of habitation is issued.

Documentation required

Whatever type of mortgage you decide on there are certain documents you will need. The documentation required will vary from bank to bank. As a guideline it is a good idea to prepare much of these as soon as possible.

If you are employed you will need:

* Last 3 salary slips. * Last income tax declaration (P60 in the UK) or evidence of latest annual tax assessment * Letter from your employer confirming date of employment and proof of income.

If you are self-employed you need

* Latest income tax declaration * Copies of the accounts for the last 2 / 3 years * Company report, confirming personal drawings

Other documents you will need:

A Spanish bank account

NIE number from the local police station

The nota simple from the property registry

Offer letter of sales/purchase contract

Copy of passport / residence permit /NIE

Copies of last 6 months bank statements

Bank reference letter.

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Buying Investment Property And Screening Potential Tenants

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Good tenants are everywhere. Conversely, idiots with nightmare stories about “some friend of a friend of a friend” who got their house trashed by a bad tenant are everywhere too. Is it possible for you to get stuck with the tenant from hell? Sure, if you do not follow a few simple rules. You can get a great tenant every time when you follow Erick’s system for screening tenants. Call 703-590-2252.

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Ready to Buy? The Benefits of Buying Vs. Renting

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Ready to Buy? The Benefits of Buying Vs. Renting


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Home Page > Finance > Real Estate > Ready to Buy? The Benefits of Buying Vs. Renting

Ready to Buy? The Benefits of Buying Vs. Renting

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Ready to Buy? The Benefits of Buying Vs. Renting

By: Lee Cameron

About the Author

Lee Cameron is a professional REALTOR® serving the Orlando real estate market. Lee has consistently proven his talent and knowledge in the real estate business and is known to his flair the business and the care with which he treats his clients. For more info on homes & properties in Orlando contact Lee today.

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Article Source: http://www.articlesbase.com/Ready to Buy? The Benefits of Buying Vs. Renting





In this shaky housing market, many people are opting to rent the homes they live in instead of buying them while they wait to see how the market goes. It’s certainly a good idea to stay cautious about such things. After all, buying a home will be one of the most important financial decisions you will ever make in your life. When it finally does come time to decide whether to continue to rent or buy, it’s good the know what the advantages are of owning your own home.

Investment – Keep this in mind: when you are renting, it’s your landlord that receives every financial benefit from your home. If something is improved or fixed, your landlord benefits. Every rent check you pay, your landlord benefits. All of the equity that gets built up, your landlord benefits. When you own your own home, every improvement that you make on it and any money that you put into it benefits you through increased value and equity. Keep in mind, however, that homes are very risky as short-term investments right now. A lot of people learned this painfully over the last few years. A house should be a long-term investment. It’s a good idea not to buy a home unless you plan to live in it for five or six years, at least. Over time, a home is almost guaranteed to be a great investment.

Taxes – Did you know that the cost of your mortgage loan interest is deductible on your income taxes? You can also deduct your real estate taxes. And if you buy a home soon, you might be eligible for the new $8,500 tax credit. That’s not just a deduction but an actual tax credit! This can add up to big savings for you.

Independence – The satisfaction from owning your own home is immeasurable. Not only do you get financial independence – no longer at the whim of a landlord and ever-increasing rental payments – but you also have the personal freedom to make your home exactly what you want it to be.

Though there are many advantages to being a home owner, the most important thing is that you feel at home where you’re living. A rental property can be a great home just as much as if you owned it. As long as you feel comfortable and secure in where you live then you must be doing something right. But if you’re ready for a change, make sure that you know where to look and who to ask to get the best information available.

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Lee Cameron -
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Lee Cameron is a professional REALTOR® serving the Orlando real estate market. Lee has consistently proven his talent and knowledge in the real estate business and is known to his flair the business and the care with which he treats his clients. For more info on homes & properties in Orlando contact Lee today.

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Buying an Investment Property

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Home Page > Finance > Real Estate > Buying an Investment Property

Buying an Investment Property

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Posted: Aug 27, 2008 |Comments: 0

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Buying an Investment Property

By: Michiel Van Kets

About the Author

Michiel Van Kets provides articles for Anthony Ziino who works at Indigo Property Solutions, consulting on property investment and especially in Queensland investment property, Australia

(ArticlesBase SC #538107)

Article Source: http://www.articlesbase.com/Buying an Investment Property





If you are contemplating investing in property in Queensland but harboring doubts, it would be wise to do some research and take the time to talk to an investment property expert. You will soon come to the realization that a long-term investment plan in property can provide a source of income, an opportunity to build equity over time and security for your future. There are companies that offer advice and expert help in investment, guiding you through the entire process, enabling you to make well informed decisions.

If you are considering investing in property in order to rent it out and earning money from it, you will need to do some specific research especially to determine the monthly rental price of the property. Take a few tours around the neighborhood yourself; go at different times and days of the week to get a good idea of the area. Sunday might be the complete opposite of a Tuesday night for example. You want to know and make sure if there is anything that may turn out to be a plus or a problem for the future tenants. Like schools, bars, crime, shops, parking space etc. The history of the property is crucial to know if the tenants used to rent for long periods because then you shouldn’t have any problems sub leasing the house either. Research the rental rates for equal properties in the neighborhood and see what they are asking. Check out the infrastructure as well, motorways, public transport etc. If the house is in need of renovation you should take these costs into consideration.

The most difficult part of the process will be finding the right property to suit your requirements. This can take some time as it could be a while until a suitable property comes onto the market, and then there are all the processes involved in purchasing it. Every property you look at will be unique dependent on its location, the current state of the market and the local economy. Most people say that it’s all about location location location and with a Queensland investment property you can be sure it will be the perfect investment.

This is where the experts in the field of investing in property come in. To do this all on your own it will be a little exhausting and there is a lot of hard work involved. Most of you have a busy life already and then to make extra time for this might hold you back to invest at all. Not only do they assist you with putting together a long-term property investment plan but they’ll also find you the perfect real-estate that has the possibility to create the capital growth you are looking for in the first place. Other issues like financing, conveyance, and insurance and property management are no rocket science for them either. With the knowledge and help of the expert there’s little left for you to do or stress about!

Some property investment advisors obtain their market data from local government, regulatory and leading private industry bodies, but to ensure their advice is entirely accurate they also employ teams of professionals who research the location directly by liaising with contractors, local agents, developers and even local residents. Also taking into consideration factors such as the local environment, facilities and amenities, quality of the neighborhood, transport systems and local economy, they use their findings to locate properties with strong long-term investment potential for their customers. The types of people they have coming to these advisors for advice are seeking to improve their lifestyle by eliminating financial worries and gain security in the knowledge that they can better provide for future family responsibilities.

For new investors, the notion of making their first residential property investment is extremely exhilarating, whilst others will feel apprehension or trepidation. All these feelings are typical, however your excitement could prevent you from making the best investment, and your fear prevent you from even getting started! It is not uncommon for ordinary investors to accrue two or even three properties over a number of years, the financial confidence and increased cash flow these can generate will improve your standard of living tenfold. Always remember to do a thorough research before you invest in anything!

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(ArticlesBase SC #538107)

Michiel Van Kets -
About the Author:

Michiel Van Kets provides articles for Anthony Ziino who works at Indigo Property Solutions, consulting on property investment and especially in Queensland investment property, Australia

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Michiel Van Kets provides articles for Anthony Ziino who works at Indigo Property Solutions, consulting on property investment and especially in Queensland investment property, Australia

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Home Page > Finance > Real Estate > 10 Steps You Need to Take When Buying Your First Property

10 Steps You Need to Take When Buying Your First Property

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Posted: Nov 07, 2008 |Comments: 0

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10 Steps You Need to Take When Buying Your First Property

By: Jason Sands

About the Author

Jason Sands is an experienced property investor and over the years he has gained good insight and valuable information on how to succeed in property investing. Some of his current investment recommendations include Mid North Coast land for sale, and properties in Kincumber and Saratoga.

(ArticlesBase SC #633137)

Article Source: http://www.articlesbase.com/10 Steps You Need to Take When Buying Your First Property





Is this the first time you are off on a real estate hunting trip? And you are standing clueless about how to go forward with it?

Well here are 10 easy steps to follow to come up with a successful real estate investment –return plan. All you have to do is carefully follow every step provided and you shall see that at the end of the day the winner is YOU, and no one else! We have verified our guide with experienced brokers and seasoned real estate hunters and they have given the proverbial ‘thumbs up’ sign to it!

So here it goes:

The Motive – Understand your motive behind making the real estate investment. Do not just go about it with no concrete plans as to what you will do after you have acquired your property. This is a basic problem that is faced by many amateur real estate investors and can jeopardize the prospect of good returns from your investments.
Area – Pick your area which you might be interested to invest in. Make a choice keeping in mind the proximity or the possibility of constant surveillance of the property at your disposal. This will help safeguard your property against violations and intrusions.
The Cycle – The investment cycle in real estates is definite and make sure you are aware. If prices are on a high for the last 5 years it might depreciate soon. This will discourage normal investors but if you are aware, you know that buying it a low price now, might get you a bigger return at the end of another cycle!
The Plan – Make a logical yet optimistic plan about the real estate investment you are pursuing. Form a budget, the house type you might be looking for and the potential expenses at hand.
Get a Broker – Arrange for a good broker or real estate agent who might get you the whiff of a good property or estate land which you as a commoner might not have laid your hands on.
The Mortgage Broker – If you cannot manage the issue of getting a good, clean loan, hire some trusted mortgage broker to settle the issue for you. But be very careful, as loans and brokers both are abundant and fraudulent in the same quantity.
References – Always try and get a reference for the site. And never ever try and buy a real estate property unseen, if you are an amateur property hunter.
Smaller Homes – Try and invest your money into small family homes and single family homes. These usually are easy and safe to invest in, get easy loans and finances and are easy to resell.
Hiring the Property Manager – If the estate you have invested in is not close-by, or you do not have the luxury of time to preside over its takeover and other procedures, hire a good and trustworthy property manager for the job. This will relieve you off the tensions regarding the estate issues and will also have the estate or property under proper care.
Renting Out – Make longer contracts or leases for your first-time estate or property, if you plan to rent it out. This is because if the tenants leave before you find a suitable deal, the returns will be redundant against the investment.

Retrieved from “http://www.articlesbase.com/real-estate-articles/10-steps-you-need-to-take-when-buying-your-first-property-633137.html

(ArticlesBase SC #633137)

Jason Sands -
About the Author:

Jason Sands is an experienced property investor and over the years he has gained good insight and valuable information on how to succeed in property investing. Some of his current investment recommendations include Mid North Coast land for sale, and properties in Kincumber and Saratoga.

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Jason Sands is an experienced property investor and over the years he has gained good insight and valuable information on how to succeed in property investing. Some of his current investment recommendations include Mid North Coast land for sale, and properties in Kincumber and Saratoga.

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Why Does The UK Have Such An Obsession With Buying Rather Than Renting Property?

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Why Does The UK Have Such An Obsession With Buying Rather Than Renting Property?


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Home Page > Finance > Real Estate > Why Does The UK Have Such An Obsession With Buying Rather Than Renting Property?

Why Does The UK Have Such An Obsession With Buying Rather Than Renting Property?

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Posted: Apr 26, 2010 |Comments: 0

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Why Does The UK Have Such An Obsession With Buying Rather Than Renting Property?

By: Lokku Labs

About the Author

This article was written by Lokku Labs for property search engine Gartoo. For more of Gartoo’s writing please visit the Gartoo blog.

(ArticlesBase SC #2236323)

Article Source: http://www.articlesbase.com/Why Does The UK Have Such An Obsession With Buying Rather Than Renting Property?





As the saying goes ‘an Englishman’s home is his castle’. And only in the UK with its obsession with owning your home could such a thing be said. On continental Europe and even in America, owning your own home is for the few with the majority choosing to rent.

 

The rise in home ownership in the UK has risen inexorably since the Second World War with more than 70% of all adults now owning their own home. And this level of home ownership has important implications for society, for the economy, for politics and even for dinner party conversations.

 

Why is this?

 

Post war across Europe many countries invested in large stocks of low cost rented housing built in response to the needs of the growing post war population. In the UK this was in the main delivered through the State via local councils with further contributions from a variety of agencies such as churches, charities and the trade unions in addition to local government. Across Europe, state and social housing remains a very large and important alternative to home ownership.

 

The UK provided incentives through the tax system to encourage home ownership, putting faith in private investment to meet the housing needs of the population. Mortgage interest tax relief was a staple of the tax system until the 1990s when it was eventually abolished but its effect was to undermine the development of the rental sector as an alternative to home ownership.

 

Since the war, little attempt has been made to encourage a substantive private rental sector as an alternative to rental properties provided by local government. Indeed there has been a deliberate policy to eliminate investment in a low cost rental alternative in contrast with many other countries.

 

This tendency in encouraging home ownership and failing to support the rental sector was exacerbated in the 1980s with the policy of selling off council homes at very low cost to their tenants, greatly increasing the levels of home ownership in the UK and significantly reducing the volume of property available for rental.

 

This lack of supply of a low cost alternative to home ownership and the tax benefits arising from investing in property are at the heart of the UK’s obsession with home ownership but it has been supported and strengthened by the widespread availability of cheap mortgages through building societies, institutions traditionally established as mutuals to help people buy their own homes. This has provided the low cost means to assist people into owning their own property.

 

And once owning a property becomes the societal norm it becomes the aspiration for all. As the first and second generation of home owners pass on their properties to subsequent generations, the means to invest in property becomes greater and the incentive to invest in the rental sector diminishes.

 

So there you have it: a perfect virtuous, or economically vicious, circle. And the obsession goes on: it seems that for some time yet we will be talking house prices at our dinner parties.

Retrieved from “http://www.articlesbase.com/real-estate-articles/why-does-the-uk-have-such-an-obsession-with-buying-rather-than-renting-property-2236323.html

(ArticlesBase SC #2236323)

Lokku Labs -
About the Author:

This article was written by Lokku Labs for property search engine Gartoo. For more of Gartoo’s writing please visit the Gartoo blog.

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This article was written by Lokku Labs for property search engine Gartoo. For more of Gartoo’s writing please visit the Gartoo blog.

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