Category: buying real estate

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.

Thinking to buy a house? Have a look at our listings: https://www.propertyunder20k.com/cheap-houses-for-sale

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!

7 Benefits Of Investing In Properties Near Universities

Property investment can be a secure source of income, depending on the neighborhood and city you choose. One of the most interesting and successful areas for property investors are university towns. Not only is there high demand for rental properties, but you can also rely on stable rental prices and even see an increase in the value of your property. Here are seven benefits to investing in a property near a university.

1. High Demand And Many Prospective Tenants

By purchasing a property near a university, you will not have to worry about ensuring a steady rental demand. With universities attracting thousands of new students each year, there is usually an increase in the local population, which also increases the demand for accommodation. As such, there will always be a large pool of prospective tenants waiting to move in, even leading to a waiting list.

2. Reliable And Constant Rent Payments

Many landlords fear renting a property to students. This is mainly based upon a misconception that students’ rental payments are always late or missed altogether. Yet, in reality, much student accommodation is actually paid for by students’ parents. The result is often timely and reliable rental payments.

3. Stable Rental Prices

One of the biggest benefits of purchasing a property near a university is that the rent prices tend to remain largely stable and constant. Providing that the university stays in business, there will be a demand for accommodation from students.

“Typically, rent prices in university areas tend to remain stable or even grow. As such, you’ll be able to charge a consistent rental price and perhaps even become cash flow positive,” says Joanna Lockman, a real estate blogger at Boomessays and Essayroo.

4. Reduced Vacancy Time

As with all rental properties, there will inevitably be tenant turnover. Yet, whilst this turnover may be higher than usual with students, the upside is that you’re unlikely to face long vacancy periods. Each new academic year will bring a fresh set of students, all requiring accommodation. This will ensure that you are able collect consistent and reliable rent from your property.

5. Attractive And Vibrant Areas

Areas with universities and students have a tendency to attract larger numbers of local amenities. With young and energetic students, keen to explore the local night life, you’ll often find many of the most highly sought-after bars and recreational facilities located around universities.

From restaurants and bistros, to gyms, shops and entertainment venues, the area around a university campus tends to be more vibrant and livelier. Not only is this more appealing to students looking for accommodation, but it also makes the area more attractive to other types of residents, thereby helping to increase the value of, and interest in, your property.

6. Attract The Wider Workforce, As Well As Students

Despite being located near a university, students are not the only types of tenants you can expect to attract. There may be a wider workforce who also require accommodation, including university staff, such as professors or support staff. People who work in the local area, including in the hospitality sector, in retail or nearby offices, will also be attracted to a property situated nearby.

7. Increased Property Value

It’s common for the value of properties located near universities to increase over time. In part, this is driven by a limited inventory of properties surrounding university campuses, thereby increasing the demand and value of existing properties.

“As universities become more ingrained in the local economy, there tends to be an increase in businesses starting up in the area, which in turn attracts more people to the area,” explains Michael Williams, a writer at Liahelp and State Of Writing. “Additionally, many people stay on in the city after completing their degrees. The result of this self-sustaining economic cycle is increased property value.”

Conclusion

There are many benefits to buying a property near a university, including secure and consistent rental payments, a large and constant pool of interested tenants, increased property value and reduced vacancy times. Although there are some potential disadvantages, such as property damage, higher tenant turnover and low interest during summer months, these can be compensated for with forward planning and higher security deposits. You’ll soon find that your property is a worthwhile investment and a reliable source of income.

Lauren Groff is an experienced real estate writer at Academized and UK Writings. She is passionate about helping her readers to better understand the world of real estate and the options available to them. Lauren is also a successful editor at OX Essays. When not writing, Lauren enjoys spending time reading and exploring different cities and neighborhoods.

Image by Michael Kopp on Pixabay 

How can I get a house for 100k or less?

You may be surprised to learn that you don’t need to be rich in order to buy a house. In fact, there are many ways you can save money and still get a house under 100k.

Houses are a big investment and one that should not be taken lightly. That is why it is important to find the perfect house for you, in the best location and for a price that fits your budget.

Average house prices

According to the survey, the average amount people are spending on a house now is around $400,000. So, it would take a lot of research and work to find a house that’s cheaper than 100k.

There are many ways you can get a house for close to 100k or even less than that. It just takes some time and work on your end.

Find the best value for your money

It’s not always easy to find cheap homes in the marketplace. There are many aspects that affect the value of a home. The general rule of thumb, however, is to buy close to the city centre if you want better value.

Some people say that it might be easier to find a cheap home by looking at area listings, or by looking at other more affordable areas outside of the city centre. However, this might not be possible for everyone who wants to live in an urban setting.

Be more creative in your search

So, what should you do? Get creative with your search and don’t limit yourself too much by just looking at one area when there are so many others out there for you to explore!

Saving up for a down payment is the first big step in achieving this goal. You can save the down payment by living with your parents or by renting an apartment in an inexpensive location and then saving up more money over time.

A lot of people want to purchase a home but they don’t have the money. It’s not uncommon for people to spend their life savings on a house – which is why many people end up living in their parents’ basement. That’s actually not a bad idea if it helps you to save up for your own home at the same time.

There are certainly ways to get houses for 100k or less if you have patience and know where to look.

Be more specific in your search

Buying a house is one of the biggest purchases that you will ever make. That said, if you are looking for a cheap home, it’s best to be more specific in your online search and don’t just rely on general words like ‘cheap home’ or ‘good deal’.

Be flexible when it comes to DIY

If you are up for DIY, you can get a fixer-upper home at a lower price. All you need is to take some time off and do the renovation work yourself. Not only will it make your home look better, but it will also help in saving money on labour costs.

Fixer Upper Homes: Fixer-upper homes are properties that have not been renovated or updated for a long time. Even if the property doesn’t have any major structural damage, they may need new paint and flooring, as well as other cosmetic improvements.

Investors are starting to pay attention to the potential in fixer-upper homes. With a low purchase price and a lower mortgage, it is easier than ever to buy a fixer-upper house.

The process of fixing up a home can be very rewarding; you have the opportunity to make your house uniquely yours. It also has the potential to be profitable, too. Fixing up your home can increase its value by hundreds of thousands of dollars if you do it right!

Conclusion

Now, you’ve seen the best ways to buy a house for 100k or less. So, what are you waiting for? Start scrolling and find your dream home today!

Bio

Our Property under 20k team are the founders of www.propertyunder20k.com and www.listproperty4free.com with the goal to search the cheapest real estate in the world and make it easy for others to find. The team is made up of landlords, real estate investors, architects and builders from several different countries.  We just love to have a good strong cup of coffee while we write our experiences in this blog.

Image by Siggy Nowak on Pixabay 

What’s the deal with bunkers for sale?

For some reasons there have been a huge interest in abandoned bunkers for sale. Always there is an ad of a bunker for sale it gets at least ten times more hits than homes for sale. Surely, many just click on it out of curiosity but many are seriously interested. What is it that makes bunkers so attractive for buyers?

Although it is considered as the ultimate hiding place, the average underground bunker usually has no windows, just air vents and most of the times no electricity, toilet or running water.

Most subterranean shelters would be accessible through a straight up concrete shaft with a steel ladder, accessed by some sort of concrete or steel hatch on the ground.

The perfect historical restoration project

For all buyers who are interested in a historical restoration venture they are just perfect. It is a truly unique project that is sure to seduce. Unfortunately, there are not as many out there as interested buyers. That’s why, despite the bad state they usually are in they are not cheap.

Some people have been very creative and building their own amazing backyard bunkers. In this case don’t forget to get the proper permits before.

We could also see a recent movement of newly built bunkers – many especially for the upper class – that offer all modern comfort you can think of and look like out of a sci fi movie.

The “bunker for sale scam”

Sadly, whatever triggers a lot of interest in many people also inspires others to come up with a scam. In the bunker story it is no different.

The scam we have seen so far is this:

There is an ad with nice and very cheap bunkers for sale. Once you contact the advertiser, he will explain that he is very sick that is why he priced his bunker for a quick sale. Due to his condition, he is also not able to show the property but someone else can be paid to show it. Therefore, he will ask you for some money to see the bunker before you buy it. Needless to say, that after paying the money you will not hear from him ever again or have any way to get through to him.

Here are some red flags to look out for:

  • Price is cheaper than normal
  • The seller asks money to show you the property

Another good way is to use the Google Reverse Image Search with the images the advertiser has in the ad. You may find that he copied them from another website.

Bio

Our Property under 20k team are the founders of www.propertyunder20k.com and www.listproperty4free.com with the goal to search the cheapest real estate in the world and make it easy for others to find. The team is made up of landlords, real estate investors, architects and builders from several different countries.  We just love to have a good strong cup of coffee while we write our experiences in this blog.

Bild von Martin Bock auf Pixabay