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3 Benefits of Purchasing Rental Property in College Towns

An investment in your future, they call it. That good old, tried and true college education and the stamped and sealed diploma earned shortly thereafter. You dedicate thousands of dollars, millions of minutes, and an innumerable amount of brain cells in the training it takes to become a certified professional. You hope, or rather expect, that all that you’ve invested will afford you great returns – a respected career, a lucrative salary, and more. There’s some risk, but there’s also the promise of great reward.

All investments offer some element of chance in exchange for the possibility of positive returns. The bigger the risk, the bigger the reward. While the “investment” a college education may seem like a no brainer, others – like that of stock markets, start-up initiatives, and, of course, the real estate industry – are a little less certain.

Purchasing rental property in your college town may involve more chance than the education investment itself, but it’s a great way for students to begin to explore various financial ventures. In fact, here are three big benefits to buying college town real estate.

 

  1. Home Prices are Down, Rental Rates are on the Rise

According to recent statistics compiled by the real estate website Zillow.com, an increasingly strong demand for advanced education has caused rental rates in college towns to rapidly rise, and due to the almost certain increases in demand for diplomas and degrees, these prices are expected to grow for years to come. At the same time, the home buying market remains affordable in the ongoing wake and recovery of the early turn of the century financial crisis.

What does this all mean? It means for college communities, rental rates are high and will get even higher, while home-owning and the purchasing of property is more affordable than it’s ever been. Hence, buying with the intent to rent to prospective students is not only an affordable option, but one that offers great potential returns.

  1. Buying to Rent Eliminates the Expenses of On-campus Living

Did you know that in the United States, nearly half of total public school costs and a third of total private school costs, are the product of on-campus housing alone? That’s $10,000 per year and, if students are lucky enough to graduate in the traditional four-year period, nearly $40,000 altogether? That’s a big chunk of change, and for what? A dorm room that’s less than half the size of Kim Kardashian’s handbag closet, with a bathroom shared by two dozen twenty-something boys and girls?

Buying real estate in college towns enables students to live more comfortably while at the same time cutting costs. Off-campus living eliminates the expense of college dormitory rates, whether students attend Loyola Marymount University in Lis Angeles or achieve an online degree at WSU Online.

  1. There’s Even the Possibility of Making Money

Buying rental real estate typically goes like this. A parent or student makes an initial investment in a property or unit, rents it out for the duration of the student’s educational career, and then sells the space back post-graduation. It’s a short-term prospect that, in most cases, ends in a wash. Yet by merely breaking even, students and parents have already saved the $40,000 plus on student housing (see #2).

Then, of course, there are those that actually make money. Remember, the bigger the risk, the bigger the reward. They invest in property merely as a means by avoiding the costs of campus living, but begin to turn a profit over time by renting out to students and/or selling back the space for more than the purchase price.

Optimistic prospects, cutting costs, and potentially making money? It’s a gamble many smart students and parents alike are putting their money on.

How to Start Investing in Real Estate Right Out of College

When you graduate from college, you may not know what to do with your life – even though you spent four years pursuing a degree. If this is the case, you may want to think about jumping into the real estate market. Who knows, maybe you have had a passion for the market in the first place and started investing in real estate in college. Whatever the case is, it helps to have a play-by-play for how to properly put your money in the right real estate opportunities. What you have to realize is that the real estate market is certainly not a game – you have to follow it very carefully and you need to know the difference between a bad bet and a good one. Here is how to start investing in real estate right out of college.

Start to Pay Off and Tie Up Your Student Loans

Whether you went to Vermont Law Online or University of Akron, you want to be sure that you pay off your student loans before you start investing in real estate. If you try to take out a mortgage or a loan for the property, you may be in a situation where your previous loans are holding you back.

Get Your Real Estate License

On top of paying off your loans, you also want to get your real estate license. With your real estate license, you will be free to invest in real estate, sell real estate and you will be able to broker. If you have always wanted to be in the real estate world, getting your license is a crucial first step. In order to get your license, you will be required to attend a six-month course. In that course, you will learn invaluable knowledge about the real estate investment market.

Start Networking

When you do take courses and you do meet people in the real estate world, you want to start networking. If you start networking, you will meet people who know people. Soon enough, you may have a hot tip on a property. The difference between you jumping on an opportunity and another person jumping on is possibly millions of dollars, so you want to know the right people.

Tap into Any Available Resources

Of course, you will need money and resources to invest in real estate. This means that you will need to ask for money – either from relatives or from investors. If you want to go big with your real estate aspirations, you will need liquid capital. When you are ready to jump on something, this capital should be so liquid that it allows you the opportunity to put millions of dollars into a property or real estate project.

Study the Market Relentlessly

On top of everything, you want to keep your finger on the pulse of the real estate market. You want to know when the values are up, down and stable. If you want to be successful in the real estate world, you need to know exactly what is going on at all times.

Should You Purchase a Home to Save on College Housing Expenses?

Buying a home. It’s not something you typically consider while attending college. In fact, with average tuition costs totaling on average $30,000 a year for private institutions and $10,000 a year for public ones, it’s probably the last thing you and your wallet can afford. Or so you think.

Affordable college housing has become as nearly as hard to obtain as a college degree itself. A staggering $10,000 per year has become the normal expense associated with living on-campus at today’s top schools. It’s no wonder, then, that students are exploring alternative living options during their four-year educational career. Whether earning a degree online at USC Online or on campus at Clark College, more and more students are forgoing traditional dorm accommodations, and homeownership is just one of those other options.

Is purchasing a home to save on college housing expenses right for you? Before you can make that decision, it’s best to understand what exactly college homeownership entails.

The Basics: Buy, Live, Sell

Purchasing a home for college is just that – a home specifically intended to provide housing accommodations for the four years, give or take a sweater, until graduation. It isn’t the home you’ll spend the rest of your life in. It isn’t the place where you’ll cook dinners with your future wife or where your two future kids will learn to ride their bike. It’s merely four walls and a roof to house your education. It is NOT a long-term investment. The plan is typically to buy and then immediately sell once college is over.

Choosing a Home: The Price and the Place

The two major factors that experts advise soon-to-be student homeowners when deciding on a property are price and location. When it comes to cost, less is more. Aim for properties on the inexpensive side, typically less than $200,000. After all, you’ll simultaneously be spending tens of thousands on tuition, books, food, and the general expenses of life

Location is also a major factor. Depending on where you’re attending school, the financial advantages renting verses buying can change dramatically. It’s critical that prior to a purchase, a student calculates the costs of both living options.

Being a Homeowner: Can You Handle It?

Beyond the buying and selling of a home, there’s also the burden of being a homeowner. Typically, college students are already highly committed to the many responsibilities of school, a job, an internship, and a social life. By opting to own a home during college, a student is further obliged to take care of the property (from the plumbing to the landscaping to the various unexpected breaks, cracks, and busts) as well as act as landlord to the other tenants, collecting rent, managing utilities, and overseeing adherence to the rules.

Breaking Even: Winning is not Losing

Remember, the goal in buying a home during college is to save money, not make money. The majority of those individuals who successfully accomplish this goal so by breaking even at the end of their college careers. While making a profit would be nice, it’s rare, and merely not having lost the $40,000 typically spent on student housing by buying a home is a win for you and your wallet.

Keeping the Kitchen Clean

The kitchen is more than a place where you serve meals to your family. It’s a place where you make memories by baking and sharing holiday meals with family and friends. Since the kitchen is such a special room in the home, you want to keep it as clean as possible. There are a few housekeeping tips to follow that will make your floors shine, your appliances sparkle and the cabinets stay organized.

Instead of using a store cleaner with fragrances and added chemicals on your floors, use a mixture of baking soda, vinegar and water. A spray bottle can be used to get the liquid on the floor to make it easier to mop with. The baking soda and vinegar will get stains off of the floor and add shine without being abrasive on the surface.

If you’re like most people, then you drip coffee and other liquids without realizing it until you look at the counter. A bit of hydrogen peroxide will lift the stains right off of the counter tops. You can also add a little bit of ammonia to kill germs on the counters. This is also something to consider using on cutting boards if you want to deep clean them.

Cast iron pans are very durable, and they have been around for many years. Your grandparents probably have them in the cabinet, or you have probably seen them used by your grandparents or parents while they cook cornbread and other foods. An easy way to get the pans clean is to add 2 tablespoons of oil to the pan before heating it on the stove. Once the pan is heated, sprinkle the pan with salt. Scrub the pan and rinse with hot water. This will help to remove any lingering food residue.

If you’re looking for a way to get the shine back on the floors, then use white vinegar. Mix about nine parts of warm water with one part of the vinegar before spraying it on the floor. Mop as normal for a beautiful shine. This method of cleaning works best on wood floors. Oil splatters are commonly seen behind the stove and in areas where you use a crock pot or another coking device. A wet cloth can be used to clear away splatters with a water base. Oily stains can be removed with a mixture of dish washing liquid and warm water. Splatters can also be wiped away from contemporary kitchen cabinets using these products in order to keep the brilliant look that they give to the room.

DIY Improvements can Lower Home Value

If you think some money and a little personal elbow grease can improve your home value, you could be mistaken. Even if you spend a substantial amount, going DIY can end up in disaster. If you have such a budget anyway, it’s best to go professional. That was according to numbers released by government endorsed trade body Trustmark.

Trustmark suggests that unskilled home improvements and repairs can lower a property’s value by as much as 11 percent. They also say that about 90 percent of buyers will ask for a lower estimate once they see patchwork on the property and about fifty percent of buyers will disregard a property altogether. All properties go through some form of repair at one point or another. Buyers know it but prefer not to see them outright.

It’s not a bad idea to repaint a home in order to add to the property value. Most houses beg for a new paint job anyway. But there are just some repairs that call for a big budget and skilled hands like a broken chimney, a torn-out gutter or a rotting wooden patio. If you’re brave enough for the task and have the budget, you can do it yourself but you could stand to lose that budget and waste the effort if the work turns out sloppy to some appraiser.

“Preparing your house for sale with a spot of DIY can help you achieve a better price of sale. However, it is important to point out that fixing up your property will not guarantee you a better sale price. For example, some buyers will prefer to buy a project house. Likewise, a number of buyers would always replace the kitchen and bathroom in a property and wouldn’t pay a premium for one newly installed. The majority of buyers will use any negatives about a property to try and negotiate a lower price. It’s for the seller to weigh up the cost of DIY, their time and the price they want to sell their property for. “

— Russell Quirk, eMoov CEO

Plus, fixing up the house shortly before selling gives a signal to buyers that you could be hiding something and are not being completely honest. But if you really must fix something such as repairing a leaking roof, a professional should be consulted. Also, as mentioned, a fresh coat of paint is always welcome and is the most cost-effective way of increasing property value.

Other ways to spruce up your house for sale include:

  • Mowing the lawn and tending to the garden. It’s a jungle out there but it shouldn’t creep into your property.
  • Clean and de-clutter. If you’re no longer living in your property, it’s best to clean up and give prospective buyers a clean canvas to work with. Some buyers prefer the barebones look. Any non-professional pre-sale repairs or modifications might not agree with their sensibilities.
  • Accentuate unique features. If your home has a good fireplace, a beautiful garden and maybe a walk-in bedroom closet, if you’re going to repair or improve on something, spend on those.
  • Do not mess with electricals and plumbing. If you must, get a professional.
  • Don’t bother with new furniture and appliances. Your buyers have their own ideas. The new red couch might not work with the carpets they have.

By Emoov, One of the UK’s leading Online Estate Agents

Top Five Family-Oriented Neighborhoods in Central Boca

  1. Millpond is conveniently located between Military Trail and St. Andrews, less than one mile from Town Center Mall (the way the crow flies), putting you in the heart of all the action in Central Boca Raton. Millpond has two parks, a main park and a “secret park” that is in the back of the neighborhood but is huge and home to the millpond Spring Carnival and campouts.  Any community with a neighborhood campout gets our vote, so bonus points for Millpond for having that amenity, a true sign of community.  Prices in this subdivision range from the high $400s to about $1M lately.  You can view all of the Millpond listings for sale at Palmetto Park Realty’s Millpond page.
  2. Timbercreek is another community, directly across Potomac Road from Millpond. Homes in Timbercreek are generally a tad smaller, and prices are a bit lower than Millpond, which makes them more affordable for the average family.  Amenities are similar, Timbercreek features walking trails around its lakes (there are two that are connected) as well as a lakefront playground with nice breezes in the afternoon to enjoy while the kids play.  Timbercreek has several festivals throughout the year, including real snow around Christmas time.  Of course, this is Florida, so the snow is trucked in, but the kids don’t know the difference!  Prices in the 300s and 400s generally, see all available inventory here.
  3. Strathmore is across St. Andrews from Timbercreek and Millpond, and features even more affordable housing, without the community amenities the former two include. With much more reasonable pricing, Strathmore is in high demand, from the 300s to low 400s.  At the time of writing, there were no active listings in Strathmore.
  4. New Floresta features larger homes than any of the communities we’ve mentioned so far, with up to three car garages, and four to five bedroom floorplans in excess of 4,000 square feet very common. While New Floresta doesn’t have a community park, it does back up to University Woodlands Park – a Boca Raton City Park, so recreation for the kids is not far at all.  Prices range from the 600s to over 1M in New Floresta and there are quite a few homes for sale at any given point.  If you are looking for a larger home and care less about the sense of community you may get from having community parks, etc, New Floresta is a great choice.
  5. Colonnade rounds out our top five Central Boca communities. Located along St. Andrews as well (see the theme?) this community has the benefit of having a city park inside the borders of the neighborhood.  This means the city pays for maintenance.  The Boca Tierra Park features tennis courts, a new playground with play structures for kids young and older, and a great walking trail and picnic areas.  Houses in Colonnade range from small to large, for there are actually two sections.  The older section has three bedroom homes listed from the 400s and the newer section has homes as large as six bedrooms and up to over 1M in price.  There’s pretty much something for everyone but houses move quickly, so you may want to set an alert for new listings.

This list was compiled by Palmetto Park Realty, a brokerage in Boca that specializes in properties in East and Central Boca Raton.  If you’d like to learn more you can check out their website at www.palmettopark.com and set up a saved search to be notified of new properties.

Top Reasons And Benefits To Book A Serviced Apartment

Sydney is seeing rising property prices lately and sellers can look forward to a good deal. But as with real estate space in any part of the world, there are nuances to these trends. One such aspect to the real estate market in Sydney is the growth in status of furnished rentals with investors.

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For an investor

An investor in real estate will always look for properties based on a few important criteria:

  • Current prices of different types of properties.
  • The future of the real estate space.
  • The expected trends in this space as well.

Currently, the trend in Sydney’s real estate space is pointing to the rise in popularity of furnished rentals for investors. There are quite a few reasons why this is true.

For the holiday crowd

Granted that this means only a limited duration of occupation but for the holiday goer, a furnished rental is perfect while in Sydney. This is because:

  • It becomes almost like a home away from home.
  • It may prove to be less expensive than most hotel rooms.
  • It offers the comforts of all appliances, furnishings and so on so the tourist does not have to cater for anything else.
  • Trips around and out of Sydney can be planned comfortably and the traveler only has to carry the bare minimum of things while moving away from the furnished rental property.
  • It also becomes easy to maintain such a place.

Longer stay

Furnished rentals also are pretty convenient for people who want to stay for a long time. Staying in such a place eliminates the need to carry many household things that may be needed for an extended stay. For instance, if somebody is visiting family members in Sydney, they could stay in a furnished rental rather than cramping up the latter’s place!

Furnished rentals are also a common choice with students or people who are on internships of various kinds in Sydney. The big advantage of moving into a place that offers all creature comforts is a huge draw with furnished rentals.

Investment in terms of locations

For an investor, looking at furnished rentals also makes business sense because they are available all over Sydney. The Central Business District can give an investor the opportunity to invest in some prime properties which will also fetch pretty good returns because corporates would like to use them for their visitors and guests for conferences and so on.

Furnished rentals are also available in different sizes so an investor is sure to find something that fits his or her budget completely.

People relocating to Sydney

Furnished rentals are also hugely attractive for people who are toying with the idea of or have decided on relocating to Sydney. Such a person may like to stay in a furnished rental for a length of time and even make it a permanent solution. Or they would like to stay in a place until they find an apartment or house on a long term basis. Either way, it means that a furnished rental will be used extensively.

To know more please visit: Furnished Properties Pty Ltd

You Need To Analyze Before Purchasing Home

Many people prefer to buy home and it’s their dream too. Purchasing home is not an easier task, since you need to analyze various factors before making purchase. In case your decision goes wrong, then you have to face it. Before buying make analyze and then start your purchasing process. If you are choosing home for rentals, then you no need to analyze much, since if you are not satisfied with it then you can shift your home. In case you purchase home, then you can’t shift it easily, since you invested more for purchasing it. Moreover, you are the owner of that property, so you can’t leave it just like that. You need to satisfy everything and stay there. In order to overcome this struggle, you need to analyze about environment, surroundings and other condition and then take a decision. For people purchasing home in Calgary no such worries is possible, since pre purchase home inspection is done.
A magnifying glass hovering over the words Inspection, centering on a house with the word Home inside it
More numbers of service provider offering pre purchase home inspection calgary so prefer their service while buying home. You can think and change your decision before buying home, but after purchase it’s not possible. Moreover, if you prefer service provider, then they will make your task easier, since they have experience and knowledge in this field, so they will deliver you true report. Inspect the home, better than you and offer solution. Moreover, their suggestion is much helpful for you while taking decision. If you hesitate to prefer their service, then you will end up in purchasing home, with lot of problems. Landlord will provide you false details in order to sell the home so don’t believe his/her words, so consult service provider and believe their report. They will provide genuine report after in-depth analysis, so you can take purchase decision after their report.

What they will analyze?

If you want to know what they will analyze then make use of the following lines. They will help you to aware whether quality materials are used for building the home. Paintings and other interior works done better using quality product. Whether, it will yield long life and it is strong. These factors analyzed by service provider in this city. Other than this, they will analyze building quality, whether any damage is there. Surroundings and environment are good; any other problem existing in the home or any other issues relating to the property is there is analyzed by them. Electrical works done correctly and any damage is there in circuit or in switches. Test power supply, whether it’s done properly.

Water supply is provided correctly to every place and whether there is any leakage. There is any crack or damage in wall, roof and in pillars. Water gets leaked inside home during rain. They will analyze all these problem and gives you report. Whether this area is safer too live with your family; other than, home is build with proper security system analyzed by them. Prefer their service and they will give you detailed information, so you find easier to take decisions.

 

Broken AC? How to Keep Cool in the Summer Swelter

No matter how well you maintain and care for your air conditioning (AC) unit, it can still break down during the hottest week of the summer. If that happens, it may be a few days before you can get the best AC repair services out to fix it. While waiting you have to find a way to stay as cool as possible.

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Use your fans during the early morning and evening hours when temperatures are coolest. Open all of your windows. Cool air will be drawn into the house by having your fans facing out. Use ceiling fans (running counterclockwise) and the blower fan from the ventilation system to circulate air in the house. Air movement feels comfortable on the skin and helps you to feel cooler.

Shades

According to Care2 Healthy Living, you should keep windows and shades closed during the day to block the sun from bringing more heat into the house. You can also apply a reflective sheet on the outside of the windows to reduce the amount of heat they can generate. Keep the windows shut to keep the humidity outside.

Don’t Cook

Don’t use your stove top and oven. Cooking generates heat and adds to the problem. Make sandwiches, salads, and cold drinks, bring home take-out food, or go out to eat. Microwaves don’t generate as much heat, and you can use one if there is something you need to cook.

Freeze Water

Fill a few empty bottles or jugs with water (leave room for expansion at the top), freeze, and then place one in front of a fan. As the air blows across the bottle’s cold surface it will circulate some cooler air and make the room more comfortable.

Maintenance

According to Applegate Home Comfort of Lansing MI, the best option for staying cool all summer long is to have your AC unit serviced in the spring, before the hot humid weather arrives. An air conditioner maintenance plan will assure you that a professional technician will clean your unit, replace needed parts, and repair anything that is broken. Maintenance drastically reduces the risk of your air conditioner breaking down when you need it the most.

If you have started into this summer with an air conditioning unit that has not been maintained for a year or more, don’t wait another day to schedule an inspection and service call.

Advantages and Disadvantages of Digital Door Locks

The standard of living in today’s society is highly influenced by the innovation of technology. For instance, technology has helped make our lives safer and more secure through digital door locks. Many modern households are using this type of door lock because they believe that it can prevent burglars from breaking into their houses.  But, how safe and secure do keyless locks are?

If you’re planning to install keyless locks into your home, take time in determining the pros and cons of these door locks.

Advantages

  • No keys required – Keyless door locks are very convenient because it spares you from bringing along set of keys. There’s nothing to worry about losing the key and replacing the door knobs.
  • Pick-proof – Unlike the traditional door locks, using the digital door locks is much better because burglars can’t bump or pick the lock. Keep in mind that criminals are smart in such a way that they can easily pick ordinary key lock and break into your home.
  • Control – Using digital door locks is highly preferred in apartments or multi-door building. It gives full control to the landlord or caretaker to identify the individuals who can enter the building or the apartment. It’s because digital locks usually have PIN code.
  • Perfect for disabled or elderly – Investing in digital door lock brings huge advantage particularly for those people who don’t have quick access of opening the door or having difficulty in using keys.
  • Aesthetically pleasing – There are wide range of digital door locks to choose from. You can select the one that suits your needs and preference.

Disadvantages

  • Power failure – This is the common issue if the keyless door locks are operated by electricity. In case of power failure, it won’t work, thus preventing the homeowner to enter the house. The good thing is that you can find door locks that are battery or mechanically-powered.
  • Wear and tear – Pressing the buttons frequently can lead to immediate wear and tear and will also leave dark marks. This will put risk to the security of your home and there’s no other choice but to change the code every now and then.
  • Lengthy PIN code – Digital door locks usually have 10 digits PIN code that is somewhat inconvenient especially for those who are forgetful.
  • Shoulder surfing – If you’re opening the door with other people behind you, you must be careful in keying the code. Make sure that the person behind you is not looking over the keypad or it will endanger your security. Another thing to consider is to always clean the buttons so that dirt and dust won’t clog the keypad. Otherwise, it will make the buttons malfunction.

The code of digital lock doors can be shared with other people such as your relatives. Thus, you can let them into your house even if you’re not around.  To enhance your home security, the best option is to upgrade to digital locks. If in case the installer had set the code, make sure to change it for your security.