We hear more and more often, in all kinds of articles about well-being and personal development, that the best time is today. That we must live every moment to the fullest and try to stay anchored in the present. It seems cliché and quite difficult to fulfill, in a chaotic and challenging world. It’s like we’re captives either in the past or in the future.
Here are some reasons why NOW is the perfect time to make that real estate transaction that you have been planning for some time.
1. We must get used to the new reality. Of course, things have changed and we are dealing with a new reality. Restrictions of all kinds are imposed on us, we must be more careful when interacting with other people, the virus exists and causes us to change our way of life. But there have been such viruses and they will certainly appear in the future. The fear of the unknown is understandable, but we cannot paralyze all activity. Life must continue at a pace as close to normal as possible, and with a little caution we will successfully overcome these moments.
2. “ He who waits all his life to take a step, will spend his whole life in one leg. ” It is an English quote translated and adapted by me, but I really like it and it is good to define the times we live in. There will always be at least one reason why it would be better not to, but waiting indefinitely is not a solution.
3. While you wait, others buy. We have clients from outside the city, we have more and more clients from abroad, who choose to invest in Sibiu. While you wait, others benefit from good prices and buy excellent properties for investment. We have clients who want to book apartments for a longer period, but it is impossible: there are requests and we do not have the possibility to retain a property for days until the buyer makes the decision.
4. Good time for opportunity hunting. With the exception of the two months of home isolation, when real estate transactions were not considered a priority by the authorities and several notarial signatures were postponed, the rest of the transactions were successfully concluded. And not anyway, but wearing the coat of opportunity: new listed offers, good prices, more malleable sellers.
5. New space for your business. Unfortunately, at local and national level, there are many businesses that have encountered difficulties during this period and entrepreneurs have either had to retire to a smaller space or give up rent altogether. Which means that I am renting good commercial spaces and office spaces in beautiful areas, which until now have not been listed on the Sibiu real estate market.
6. Thanks to technology, at this moment you can see more buildings in a shorter time. The period of isolation at home and the restrictions imposed later determined us to invest more in equipment and technological innovations, in order to be as close as possible to the customer. Thus, today you have the opportunity to quickly view real estate through virtual tours in conditions of maximum security. We also use drone pictures and footage to show customers the exact location of the property / land for sale.
7. Demands and offers. It is true that on the Sibiu real estate market there are fluctuations regarding real estate demands and offers, but during all this time the phones did not stop ringing, and the clients who had a plan to buy a new home or invest in a further land they want to do this and do their best to complete the transaction. So, if you are thinking of listing a property for sale, now is a great time. We have many requests that can’t wait to find the right offer.
Most often, a potential investor, when buying a real estate object, chooses a residential property. To do this, he turns to real estate agencies, where they will tell you how much money should be spent on real estate, which investments are more profitable for investments, how quickly the costs of buying real estate can be recouped, where should you look for profitable real estate?
However, the investor should not blindly entrust his money to unverified people; he should delve into the essence of the matter himself.
Features of investing in residential real estate
Real estate experts recommend choosing real estate investments that should pay off 3-4 years after purchase. In most cases, the real estate market is represented by residential real estate with a payback period of 7-10 years. Residential real estate with a payback period of 7-10 years is best rented for daily rent.
When purchasing residential real estate, it is worth considering whether this housing is liquid, whether it can be sold quickly and without financial losses, if difficult times come.
It is important for an investor to remember that it is better not to invest money in fashionable objects, that is, in those objects where the crowd invests. The income from such investments will be minimal. For example, at this time, it is better to refuse to buy expensive apartments in capital cities. The payback period for expensive housing in the capital is at least 7 years.
Investing in real estate for rent in small provincial towns today is not able to bring significant profits. For an investor with an average wallet, it is best to buy commercial real estate, choosing one or two-room apartments of a standard project, with a small living space and a kitchen. The cost of two-room apartments is approximately in the same price segment as one-room apartments.
Investment experts recommend a more practical approach when choosing clients for their properties. In their opinion, it is more profitable to buy a residential two-room apartment and rent it out to stable tenants, that is, families with a child.
Since the child must be placed in a kindergarten or school, such tenants will be interested in a long-term stay in one place. Payments from families with children are regular.
In addition, the price of rental housing can be increased periodically, adjusting to inflation and receiving dividends.
Investing in residential real estate of economy class
Investing in economy class real estate will be affordable for investors with an average wallet. Such real estate is in the greatest demand.
Economy class housing is interesting both for rent and for sale. Payments for utility rates for commercial real estate of the economy class will not be exorbitant. Today, reselling small-sized housing is not difficult, unlike luxury apartments of two hundred square meters or more.
It should be remembered that investing in real estate is better in places with developed infrastructure. It is not necessary to find an apartment in the city center; it is expensive. For rent, it is better to buy two small apartments on the outskirts with good transport links and developed infrastructure.
Many people, arriving in the capital or large cities where there is a metro, are looking for an apartment for rent at a cheaper rate. It is desirable for the tenant that the property is located near metro stations.
If the property is located far from the metro, it should be remembered that transport links in the capital and large cities are already well developed, and in addition to the metro, you can move around the city mobile using other types of public transport.
Very often, tenants refuse to consider rental options if the house or entrance where the apartment is located is in a miserable or disrepairable state. It is best to rent a renovated apartment.
When buying a property, it is important for an investor to check all the necessary documents. Since there may be problems with the fact that not all former residents have left the apartment, minor children may be registered. There may also be rent arrears, which are automatically transferred to the new landlord.
In the context of a sale, many conditions are taken into account. Indeed, the sale made as it is is never exempted from the contract as a whole. There are many things the parties involved in a sale are committed to. And this is all the more valid whether in a real estate sale or other objects whose values differ.
But in any case, we can face a unilateral promise to sell. A commitment must be entered into between the parties by stipulating special conditions. But before entering into a unilateral promise to sell, it’s still a good idea to know what it is.
What is the unilateral promise of sale?
The unilateral promise of sale is a preliminary contract making it possible to lay the foundations for a real estate transaction. When selling a property, both the buyer and the seller agree on the details of the transaction.
We especially note the good in question and the agreed price if both parties accept it. We can then say that the latter enter into negotiations on the price and the conditions of sale. It is only after the unilateral promise to sell occurs.
The real estate transaction between individuals
We still believe that only professionals make transactions between themselves or with individuals in the field of real estate, which is entirely wrong. With an increased increase in supply and demand, so are individuals.
They then make transactions between themselves. Besides, it generates fewer costs by avoiding going through agencies. But even if transactions between individuals are done, there are always rules to follow.
And in the context of a real estate sale, there is always a two-step realization. First, we find the preliminary contract, which can be a sales agreement or a unilateral promise to sell. In this first step, an agreement is made between the two parties. Then comes the deed of sale in question.
In this second step, the agreement is made before the notary a few months after the pre-contract. It is only then that the property’s full price is paid, and the ownership changes hands.
In the case of the promise to sell, the buyer has a specific period to withdraw and no longer make the purchase. This period is ten days. During this period, he is required to pay a deposit, representing a certain percentage of the property’s value. If the buyer withdraws after ten days, the deposit is refunded in full by the seller without penalty within 21 days.
If no withdrawal has been made and one of the two parties refuses to sign during the deed of sale, the other party has the right to take the matter to court by requesting the contract’s signature or by asking damages.
The promisor undertakes to sell his property to the beneficiary within a certain period and at a determined price. In the contract, the beneficiary has a period during which he can only buy the property. At the end of this period, he can decide whether or not to exercise the purchase option.There is something exciting to be said about a revolutionary product by ThermFinish specialty coatings company. This amazing spray cork coating can be sprayed over just about any type of substrate and provide a water proof seal and thermal barrier. It also provides a class A fire protection and can be mixed for a 1 hour fire rating. The product acts as a sound barrier as well with sound deadening up to 12 decibals when applied by a certified applicator. The finish comes in 4 grades, smooth, fine, medium and course finishes that look amazing when applied as stucco, concrete coating, roof coating and so much more. Contact Therma Finish for more information at: Therma Finish Spray Cork 16427 N Scottsdale Rd Scottsdale, AZ. 85254 (480) 637-3800
Taking advantage of the beginning of Easter, we are going to talk about vacation properties. Nowadays, it is more common to rent an apartment or a house instead of opting for a hotel as it was done in a more traditional way.
Luckily the alternatives are changing, we no longer think only about the all-inclusive, and we can see how more and more people choose to go on vacation renting vacation properties. This change helps the consumer to visit and learn more comfortably and in-depth about the environment since they do not feel obliged to put it in some way, to consume absolutely everything that is included, which when paying for the hotel, is offered.
It is true that at any given time you may think that it is more comfortable to go to a hotel because you do not have to worry about doing tasks such as washing towels or changing sheets, but renting a house offers you much more comfort and privacy.
What process should I follow to rent a house?
Currently, there are applications to rent a house from your mobile, regardless of your destination. One of the best applications that this service offers is Airbnb; this platform gives you a lot of viability to know if that property is of quality and whether or not it is worth making the reservation, that information is obtained through previous tenants who have used the property and have valued the quality in the application. They are real experiences and evaluations.
It is a very transparent application; you can easily use your credit card to make the payment.
How much can it cost me to rent a house?
Depending on how many people go to rent a house, the cost of it can increase or decrease. If you are a couple, it is likely that renting a house or villa is quite expensive, but if you rent it between five or six people and share the cost of the villa, it will be very cheap. A hotel being a price per person, it does not matter how many are going to pay the same each, however, when renting a house or an apartment, per night the price is divided since it is a 3-room apartment and there are 3 couples the price will be divided by 6. If the apartment is the US $ 300 a night, each one will be paying US $ 50, a cost much lower than that of a hotel.
When do I have to start planning my vacation?
It is important that we plan our vacations in advance, the sooner, the better. This is one of the most important parts of our vacations since it can save us money and troubles when it comes to renting a house or a vacation apartment.
It is logical that if you call to reserve a house or an apartment the same day in which you are interested in entering, it will be much more expensive than if you reserve months in advance, but also most likely it will not be available for the dates that You request because someone already reserved that period of time.
The advantage of becoming the owner of your main residence is not only the satisfaction of living within its walls. Real estate is also an investment. Once the credit on your house or apartment is fully repaid, your housing charges will drop significantly. And, if necessary, you can resell your accommodation and reinvest the funds at your convenience.
1 – Negotiate directly with the owner
Negotiating directly with the owner allows the buyer to avoid agency fees. Buying without an intermediary can save you up to 8% of the price. An owner may also be more available and willing to receive you in the evening or on weekends. Pay attention to market prices; however, as some sellers tend to overestimate their accommodation.
2 – Visit the real estate agencies
With a single contact, you have access to several real estate properties and multiply your chances of quickly finding the property that suits you. With the internet, you use “portals” grouping together the offers of different advertisers and sites set up by the real estate professionals themselves.
If you are also prospecting in the field, target a district, and leave your contact details in several agencies. Firms have more and more computerized files to automatically alert a potential buyer when a good meeting their demand comes up. In addition, real estate agents in a given sector know the local market well. They can, therefore, correctly assess the goods they are responsible for negotiating. Of course, the real estate agent’s services have a cost: a commission, which usually varies between 4 and 8% of the sale price, and which is added to the basic price asked by the seller.
3 – Go through a negotiating notary
The role of the notary is not limited to drafting deeds and providing legal advice. Like a real estate agent, the notary can be an intermediary between sellers and buyers. More and more notarial firms have acquired a real estate transaction service.
With a notary, legal and technical verifications are carried out from the start, whether it is the measurement of the property for a co-ownership lot or the various diagnoses required by law, town planning rules, or property rights of the seller.
4 – Save time with the internet
About 95% of housing searches are done online today. The advertising websites allow you to access a lot of information on the property for sale: photos, videos, even a virtual visit. You can also be notified by email as soon as an ad that meets your selection criteria is posted. Very well designed sites are therefore dedicated to transactions between individuals.
In the old one, websites each offer several hundred thousand ads, mainly from professionals. The same property can be presented by several agencies at different prices, leaving you the choice of your contact. Sites are dedicated to new housing. Others offer a range of specific goods such as lofts, artist workshops, apartments on the ground floor, or even in the basement, “maid’s rooms,” etc.
It is now possible to access real estate offers on phones or tablets. The internet user thus benefits from alerts on this or that interesting property, or even “geolocating,” the real estate agencies in the sector, as well as the list of the properties they sell or even have an estimate of the properties located in the vicinity.
5 – Buy an apartment in a new program
Currently, the vast majority of new apartment purchases are made “on plans,” that is to say, when construction has not yet started. The sale on plans, also called “sale in the future state of completion” that allows the buyer to book accommodation with a promoter, in return for the payment of a security deposit.
Once the construction operation is well advanced, the future buyer is summoned to the notary to sign the act of purchase in the future state of completion itself. He pays for his apartment as the work progresses. The delivery of the accommodation takes place within 12 to 18 months after the signing of the reservation contract.
From the right questions to ask yourself to the choice of the relevant communication strategy for entering mandates, through administrative procedures, and the selection of the best location to create your activity, we tell you everything!
Opening a real estate agency: a project to mature
You can imagine: opening a real estate agent cannot be improvised. The steps to get there are many, complex, and time-consuming. You will have to carry out a number of steps to declare your activity, create your structure, choose a legal form, obtain a professional card from a real estate agent, take out compulsory guarantees, find the premises for your agency, and finish implementing your marketing strategy and communication to attract customers.
The first step, however, does not involve any travel, any process, no file to complete. And yet, it is essential, since it consists of asking yourself the right questions beforehand: why do you want to open a real estate agency? Do you have the necessary character, qualities, and skills? Have you studied the surrounding market to find out if it is relevant to enter one sector rather than another?
Why open an agency?
Open a real estate agency, yes, but why? Ask yourself what motivates you in this project. Do you want to become a business owner? Put yourself on your own after years of employment? The desire to become an independent professional, to manage your schedule, and to choose the projects in which you will invest yourself? The desire that titillates you to respond to a request for which there is not yet an offer (for example, in a sector neglected by professionals)?
Your motivation is essential: don’t neglect it!
Do you have what it takes?
In addition, if you want to open a real estate agency, it is better to have a minimum of personal funds. They will be used to finance your steps, to invest throughout the first steps of your business, and to establish cash in advance – essential to surviving until the first cashing of fees, which will take a little time. Have you planned the coup? Set aside funds? Have you prepared your project seriously?
Opening a real estate agency requires fulfilling several administrative conditions. These begin with the steps of creating the structure itself. These steps are specific to real estate professionals:
- Start by sending a registration request to the Trade and Companies Register (RCS). To do this, you can go to the nearest Commercial Court.
- Apply for a professional real estate agent card.
- Declare your activity and fulfill the obligations arising from it.
Choose your agency premises
It remains to choose the right place to open your real estate agency. Start by defining your selection criteria:
- What budget?
- What location?
- What surface?
- To buy or to rent?
Then ask yourself if you prefer to occupy professional or commercial premises, if you want to share it with another company, or if you want to integrate a nursery.
Once we take into account the aforementioned factors, it is time to look for our commercial premises. For this, nothing better than knowing the steps to follow to rent the office or physical space
- Is it a transfer or do you want to physically move your business? Depending on the case, you will need professional advice. Here comes the figure of a technician who will help you with the choice.
- You need an activity license. This role is used to open any business. But it is possible that you already have it active, but you only want to move so you will have to check if you need to update it or request a new one. Basically, the activity license is for the administration, generally, both local and autonomous, to verify that you have everything right and that your local has the physical and legal conditions so as not to cause problems for nearby residents—for example, excessive noise to neighbours and the like.
- Each administration has different procedures and requirements. It is possible that you are in the case that they do not ask for more than a certificate depending on where your business is or that the administration or municipality where the premises are asked you for all kinds of papers. Here the help of a technician hired for a project can help us with the procedures.
- Check that work activity can be carried out on our premises and city. This is evident, but there are cases of professions that may have problems depending on the area of the city where the business is. For this, you must consult the Urban Planning Plan of the place where you are going to carry out your activity. You may need a compatibility certificate or technical consultation to solve this problem.
- What license does your physical activity need? As we have said, the legal procedures depend, to a large extent, on the activity you are going to carry out.
- You do not need the same if you are a barber than an architect. And depending on the Autonomous Community, there may be several types of license, for example, from an environmental license to an integrated license, to give several examples. Depending on the size of the company, they may or may not affect you. Companies with a certain business volume have different legal requirements for permits than small ones.
- Local accessibility. As you well know, the premises must comply with a series of regulations that allow access to all kinds of people. For this reason, you must check several things, the first the barriers to entry for disabled people and the toilets. If there are steps, you will need some type of ramp or option to overcome the unevenness. The same goes for the entrance, the size of the doors and the bathrooms. They must be adapted to local regulations and respect access distances. The normal thing is that the entrances have a minimum of 80 centimetres so that the passage can be done without problems with a wheelchair.
- Depending on the type of premises, they may have a minimum height. Check the requirements of your municipality, and this is important because of the minimum lighting that must be met for workers and the space of the workplace. In addition, the facade of the premises and the amount of light that enters come into play here.
- Electrical installations and services. If your premises require a large electrical expense or it is a place of great human traffic, it is preferable to check the electrical installation of the premises. The same happens with water, heating and other aspects such as light and emergency exits, if necessary.
- In the case of being a place like a music studio that generates a lot of noise, you should avoid disturbing the neighbours. For this, you must comply with the acoustic insulation requirements required both for the development of your activity and for the administration that requests it.
- Check licenses and ask for advice. Think that if you start a business as if you are moving, you must fill out and ask for all kinds of bureaucratic papers regardless of choosing the place that best suits you.
Therefore, it is recommended that you go to professionals so that your search is not complicated. Here you have several options if you are going to make reforms of a place you almost certainly need a construction technician to help you streamline the issue of licenses and the reform project.