Real Estate

Things might not be as easy as they seem for the first time home buyers. Real estate looks like an easy market but it can be very tricky. You can expect to bump into all sort of mean people and make all sort of foolish mistakes while choosing a house for yourself. Here is a list of things that a first time house buyer should keep in mind while going for the purchase. 

 Panda Condos by lifetime development and Charles Condos are two big projects launching this fall and builders are promoting heavily on the internet to make them successful.

 

 

  1. Type of home. First thing you need to understand what kind of home you want. Either you want to live in Downtown Condo like Axis Condo or 75 Esplanade Condo or you want a house in suburb remote cities. There are pro and cons for both. You need to decide beforehand.
  2. Know your range. It is wise to know how much you can actually afford. The banks and money lenders will give you the figure after getting through the complete calculation but those numbers cannot be true. You need to think about all the incurring expenses you might come across until your mortgage term matures. You must not get overwhelmed and spend too much on your first home. It is advisable to go easy the first time.
  3. Make a wishlist. You should make a list of things you want in your new house. Make a list with your priorities at the top. This will help a great deal in knowing what is best for you.
  4. The closing costs. Done forget about the closing costs which may be something from 1.5 to 3.5 percent of your actual cost. This may include the inspection fee, legal fees, transfer tax, insurances and interest adjustment.
  5. Get a pre approval after having decided how much you have in your pocket, having calculated the closing costs and deciding what you want the next step is to contact the bank or money lenders for mortgage plans. It is very important to get a mortgage approval. Most of the real estate agents don’t entertain clients who come before getting a mortgage approval.
  6. Different payment options. It is very necessary to know all the payment options available to you. Many payment plans might look appealing but they may have hidden catches. It is important to know all the options and study them in detail.
  7. Calculate the moving expenses moving is expensive if you have hired professionals to help you out in this regard and if you are required to travel a great distance. It is important to add moving costs to your budget and know all the hidden moving costs and be prepared for them.

all these tips are very useful for a first time house buyer in Canada.

Real Estate

Buying Condos: Practical Tips on How to Make Downsizing Work

New condos are your best choice if you are planning for a home downsizing. Why downsize in the first place? Downsizing your home to a condo helps to significantly cut your monthly costs. A much smaller yet quality place to stay reduces your monthly expenses, particularly housing costs and utility bills. You refinance your mortgage and ensure bigger cash flow than expenditures. Therefore downsizing your home makes perfect money sense. High rise living is one of the best options that can help materialize your plans.

 

Downsizing with New Condos

There are various choices when planning to make a life-changing real estate downsize. You can sell your home to buy an apartment, townhouse, or condo. You may also rent instead of buying a new unit or you are simply selling in order to move to another state or country. The first step to making your downsizing plans work is to have a clear vision why you are downsizing. Once you are clear with your goals, you can explore countless opportunities for an investment on new condos like halo condos yonge.

 

What are the things you need to know about condos?

Condo is usually connected to luxurious lifestyle. Nowadays, condominiums are also symbols of practical and lucrative living. Don’t worry if you have a tight budget for your downsizing plans because there is a condo unit that is ideal for your budget range. Retirees and retiring baby boomers are those who are most commonly looking for a home downsize. Condo living is ideal for everyone, regardless of age, economic status, and lifestyle. The first step to downsizing is to know the condo type, price, location, and future outlook of your next viable investment.

 

Before buying a condo unit…

Buying a condominium requires you to comply with the monthly maintenance fees. Different developers have their own monthly fees, based on what the condo association has agreed upon. For instance, new condos in Square One have maintenance fees that range from 50 cents to 65 cents per square foot. Other locations have their own rates on top of the maintenance costs that may the condominium corporation may not cover.

Checkout this video for downsizing right

 

Beach Condos, High Rise, Real Estate

We are dealing in the property business for twenty-eight years and have earned a great respect from our customers. The property investment is one of the smartest investments at the present time for everyone. The growth ratio is growing drastically every year and with our guidance the best option can be easily available to all the consumers.

This post is sponsored by AVIA Condo

When we think of investment the only idea comes to our mind is to invest in stock, shares, bonds and equity shares. The tradition has changed at the present time which has motivated people for the different sector. In this era, people are ready to invest in properties, farm house, apartments, duplex, and agriculture as well.

Real estate has become a good investment option due to good construction quality, transparency and availability of good designs. It has proved its growth in the last couple of years and became a good asset class these days for each group of people. It provides the surety of stable income and higher returns year by year with the probability of principal amount appreciation. The residential properties are bouncing back with huge returns and benefits. But there is a downfall in commercial properties which is going to recover very soon.

One industry which is booming from the last few years is condo industry, it was showing growth over growth every year 20,000 plus condos sold each year. Few good project sell out with in hours, days or weeks.

In India, the market value of under construction commercial property value has grown from 69.4 billion dollars to 101.2 billion dollars. It has become 8.2 percent GDP of India in 2009.  The main value of this portion is involved in development and construction cost of Real Estate. The total cost has been analyzed 48.5 billion approximately over the period of two – three years.

The commercial sector covers around 74% and 34.8 billion market value of a commercial property which is under construction.  The Tier I cities like Delhi, Mumbai, Bangalore contribute under construction commercial property which is about 70 % of the commercial space. The Tier II cities like Kolkata, Hyderabad, Pune, and Chennai covers 21% of the remaining area and 9% goes to remaining area of Tier III cities.

There is a growth in the development of Tier III cities by focusing on infrastructural developments and lower estate costs. Some contribution has been made by Tier I and Tier II cities as well in this area of growth of Tier III cities.

The under construction residential property value is 66.5 billion which adds 66% of the value to real estate in India. The ratio of high class and premium property is very less which can be a saleable and developed area. It has covered only 24% of total market value and volume of properties are growing in Delhi. The largest contribution is being done by only Mumbai.

Now the emerging of Foreign Direct Investment has given the boost to real estate property for last five years. It was 0.04 billion dollars in yester years, but it has raised up to 2.18 in 07-08.  Foreign Direct Investment has used 7.82 billion dollars in real estate and housing in India to establish them in real estate sector. It is really a promising act by Foreign Direct Investment to grow in a country like India; on the other hand, it will be very favorable from the point of view structural development of this country. Now a day’s property investment is very good for everyone who wants higher returns of their property in the short span of time.

 

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Beach Condos, High Rise, Real Estate

Update: Why the claim ‘ball is now in buyer’s court’ is perfectly applied for the real estate

8stepsUpon taking a dig at the world of real estate a few years back, it would be evident that initially investments in this arena were considered risky, due to stretching tenures of the projects, not so flexible prices, etc. Eventually, the markets found a sluggish environment, which later demanded rejuvenating whole real estate trading environment. Following the demand, the flexibilities offered as the part of rejuvenated strategy; the ball is now in buyer’s court. Starting from the process of property purchasing getting simpler to the transparency attained in terms of pricing, it’s the time a buyer can expect the most of his/her investment.

Update: Since we published this article market has changed to sellers market and above phrase is no longer true, now this is not a case a supply is very limited only 2 projects are launching this month for example transit city condos and nobu condos in Toronto where as each unit has 7 buyers.

No baffling pricing or anything of such:

It wouldn’t even wrong to claim that the legal complexities were also one of the prime reasons responsible

businessman with mini house and US dollars

regarding refraining many to think about an investment. Needless is to mention about the longevity of these cases upon being taken to the courts. But, the scenario has changed; there is no devastating or varying price patterns, neither is there any inequity.

Revived and hastened projects, simplified operating procedures:

The transparent scenario as witnessed at present is definitely the outcome of efforts made against the shrinking residential real estate market. Project developers have realized that offering greater leeway to the buyers is like essential. Upon taking a closer view, it becomes evident that the sluggish projects have been hastened significantly.

Cherrybrook_blog In concurrence, the newly developed projects are also being designed with keeping the features those can meet the mass. At the same time, these are being offered with greater margins regarding budget. Moreover, the legal procedures to be taken against the instances like delayed project development tenure, flawed construction, flaks involved with pricing, etc. have been made a way lot simpler. All these are primary to ensure the whole aspects of real estate are being accomplished in an encouraging way for the investors.

The additional issues:

It’s not about the property costs or complaints always. The additional issues like the claws involved with download (2)parking, maintenance costs, security and other aspects are also being taken care with in a pretty transparent fashion. In fact, in most cases, it’s like a one-time investment for the property buyers. The conflicting cases of those like reselling a booked property have started tending to almost zero. There is absolutely no scenario of any delayed document processing until and unless any special case has appeared.

Creating the right environment:

real-estate.jpg__0x400_q95_autocrop_crop-smart_subsampling-2_upscaleThe credit of such whole scenarios actually goes to those like the investors. Introduction of the compliant functional procedures has worked significantly in terms of maintaining the transparency. The conflicting occasions arising due to the concepts like pre-investment properties are almost approaching to zero in recent scenario.

The best part about the whole aspect is that a perfect scenario has been managed to set that offers a scope for the genuine investors to come forward and show interests in real estate segments. Being specific, this is absolutely applied for the residential real estate scenarios.