Showing posts with label investment. Show all posts
Showing posts with label investment. Show all posts

Tuesday, July 21, 2015

First time real estate investment is an exciting and exhilarating step, but if not carefully entered into, it can quickly become an overwhelming move that’s fraught with anxiety and confusion.
There are numerous variables for the first timer to consider, and it is advisable that they familiarise themselves with these facets because with a little planning and smart research, success is certainly achievable. Here are five tips to help get you started on the long road to success with your real estate endeavours:

1.       Set appropriate goals
Be realistic about your budget, your time frames, your desires and what you want to achieve. It is vital to sit down and draw up a plan for all of these variables, so that you can search accordingly, have real expectations and know specifically what type of investment you are looking for. Without establishing key factors like your budget, your location, your access to credit and your required schedule, the project will lack definition and may overwhelm you.

2.       Learn about the wider market
The Internet is a great source of information, as are the numerous books and case studies written about real estate investment that are full of actionable wisdom. Choose books and articles that offer practical step-by-step procedures backed up with evidence, instead of dubious ‘get rich quick’ schemes. Read up on relevant strategies, tactics and standard procedures so you know what to expect and how to prepare.

3.       Learn about the local market
Begin to research the properties on offer in your area and talk to the relevant local estate agents and sellers about opportunities with the ones that interest you most. It’s important to choose a reputable and reliable agent and you’ll quickly notice that long-standing companies such as Linley and Simpson (Leeds) stand out from others that do not have such a great selection of investment prospects and knowledge of the market. You can track local sales and begin to establish the going rates for properties in your desired budget and location.

4.       Do not limit yourself geographically
It can be very easy to look only in your immediate locale, but you may be surprised by the difference in opportunities only one town, county, or borough away. At this stage, it pays to be very open-minded geographically; to cast your net far and wide in search of the best opportunities and to ensure you have a wide understanding of the local market fluctuations.

5.       Establish your financial position before proceeding
Closely tied to establishing your goals, it is vitally important that a plan is drawn up regarding any credit plans. Do you know your credit rating and is it possible for you to get a mortgage? Do you need to switch banks or find a new provider? Which establishment offers the best deal? Does this limit the type of property you can invest in? All these questions, and many more, will need exploration and clarification before you can proceed beyond the research outlined above.

If entered into correctly, real estate investment is a highly rewarding and secure source of long-term earning; but it will require goal setting, smart planning and lots of research.


5 Top Tips for First Time Real Estate Investors

Monday, December 16, 2013

How amazing it would be to live in something as enormous as a cathedral. Tall, beautiful glass windows allow endless rays of light to enter. And every church can tell its own story. But if you are planning to buy and live in a church, you will need to consider some potential issues before making the investment.

Renovation costs of turning a church into a comfortable home may vary depending on the age and condition of the church and amenities included. Some of the churches might already have kitchens and bathrooms, where some older churches will need a total upgrade.Adding a kitchen and a bathroom will add a lot to the renovation costs.

If considering to renovate a church, think about energy efficiency. It could be very costly to heat a stone building during the winter. In addition, high ceiling will collect heat too, which will require installation of ceiling fans to push that heat downward.

Also take into a consideration restrictions on changes which might occur. A lot of churches are included in National Register of Historic Places, which means you will need to request a building permission to make any changes.

Although costs of renovating a church could be a bit sharp, many people think that living in such a unique place is worth of spending a little bit extra.








Living in a Church

Tuesday, November 12, 2013

Investing in a new kitchen is very exciting but it can also be very expensive! We help a lot of clients to choose their new kitchen from our list of trusted suppliers and also offer advice on what aspects of the kitchen it's worth spending more or less on.

We have put together a brief guide on where we think the most value is in a kitchen.

The Shell: The shell, or the carcasses of the kitchen are essentially the interiors of the cabinet and probably the least expensive part of a kitchen. Trade suppliers such as Howdens Kitchens provide ready-made cabinet units 'off the shelf' - you just need to pick your cabinet doors. IKEA also supplies a good selection of standard cabinets. Of course, these cheap carcasses will be made out of MDF or chipboard and laminated with a standard finish (usually white). If you want your whole kitchen to have a high-end finish, you need to get a high-end kitchen or a custom made o kitchen, in which case the interior of the cabinets will have a much better, higher quality finish and the inside layout of the cabinets will be much more customisable, such as plate holding pegs inside drawers or in-built spice racks.

The Cabinet Fronts: The fronts of the cabinet units are usually the costliest aspect of a kitchen. Howdens or IKEA, as mentioned above (there are many more), will let you choose different cabinet fronts - and the cost will go up depending on the finish you choose. We have fitted IKEA kitchens before which look very nice on the outside (even though the inside is what it is) but I wouldn't say this is because the finish of the fronts on their own is particularly good - it's how you finish the kitchen that makes the difference. Of course a fully customised kitchen with high-quality cabinet fronts will overall be superior.

The Worktop: Arguably one of the most important value-adding aspects of a kitchen is the worktop. Cabinet appearance can only vary so much but the material you choose to have your worktop in will have a huge impact on appearance. Cheap laminate or wooden worktops will do nothing to add value to your kitchen - a Howdens kitchen with a laminate worktop will look exactly like what it is, but a Howdens kitchen with a well made, custom corian worktop will look much more expensive. We order all our kitchens without a worktop and have it custom made to the client's choice of colour and material. Corian can produce a seamless, single piece worktop (logistics allowing, of course) in a variety of colours, or a worktop can be made out of a real stone, such as granite or marble. Quartz is a great alternative to real stone - it is a manmade stone made out of 95% granite, ground into dust, mixed with resin and cast into sheets, making it inherently stronger and longer lasting than natural stone. It also comes in a variety of colours and finishes. We would almost always recommend investing a bit more into the worktop

The Appliances: The appliances you choose for your kitchen, although not of the utmost importance when considering the 'value' of your kitchen do certainly add or detract from the feel of the kitchen. For example, fitting an IKEA kitchen with nice appliances from Smeg, Miele or Siemens could make the kitchen look more expensive and luxurious than it is. On the converse, fitting an expensive, custom-made Italian kitchen with appliances from IKEA and Indesit might make the kitchen lose a touch of its elegance. Choosing your appliances, especially the visible ones, can have an effect on the overall effect of your kitchen's value. Our advice is that if you want to keep the price of the kitchen down, fit good mid-range appliances, such as Bosch, to a cheaper kitchen finish. This way the kitchen gets an 'appliance uplift' without spending a fortune on the shell.

The Details and the Logic: The finishing details of a kitchen are very important, as detailing is what lifts a design from a standard finish to a well-considered, all-round design. It's great if you can afford to spend money on a high-quality finish but it means nothing unless the kitchen is well-planned and finished to the smallest detail. Your interior designer or kitchen designer can help you plan the layout of the kitchen cabinets, where to fit the appliances, drawer and cabinet space, how many shelves to fit and so on. Details like the placement and quantity of plug sockets, the height of the splashback, LED lighting below the cabinets et cetera are the details that finish the design. Also, it's important to consider what happens below and above the kitchen cabinets - how high are the cabinets so that they are comfortable to use, do the cabinets run to the ceiling or finish lower, are they scribed at the top or is the space above the cabinets open, and what kind of skirting is below the base cabinets... the list goes on.

The Overview: There are merits to finishing a kitchen in many ways but overall, of course the ideal solution would be to have a high-end interior that is well detailed, a custom made worktop and beautifully finished detailing. However, we know that the budget does not always stretch to do everything we want. We have fitted some great kitchens in the past that are IKEA cabinets and cabinet fronts with custom worktops and high-end appliances and most people cannot tell the difference from looking at the outside. A customised IKEA kitchen is a great solution if you want to keep the budget at bay and we often specify this kind of finish on investment flats or on flats where the kitchens are quite small. However, houses where the clients themselves are planning to live, especially when the kitchens are sizeable, it may be better to invest in a higher quality finish. Overall, however, I would suggest that the most important aspects of a kitchen are the cabinet fronts and a good worktop... and the number one rule: never sacrifice the details!


IKEA kitchen with Quartz Cement worktop

Custom-made Italian kitchen with Corian worktop and Miele appliances

Custom-made Italian kitchen with Quartz absolute blanco worktop

IKEA kitchen with Quartz absolute blanco worktop

Kitchen Value

Saturday, August 24, 2013

I think Ikea has a relatively poor reputation with designers but I would have to disagree. I  feel that often Clients who are renovating for investment purposes and don't want to spend hundreds of thousands, or young professionals wanting to refurbish well but at an affordable price, can be put off by interior designers who instantly get out their fancy catalogues of £10,000 dining tables. In fact, using Ikea in a clever way can be a great way to save on costly furniture bills. When used well, Ikea can almost blend into the design and look much more expensive than it really is. That's the trick. ;)








Clever IKEA