When shopping around for financing options for your second home, realize that oyu need to make a bigger down payment on your second home than if you were buying yout first home. The reason behind this is that lenders consider second home investments as having bigger risks than primary properties. Second home investments are usually more volatile, and borrowers are more likely to take advantage of different investment opportunities instead of following through with owning a second home. When lenders ask for a higher down payment, they compensate for the bigger risk. You will also have to pay higher interest rates, but by getting adjustable rate mortgages or interest only mortgages, you can go on a sort term strategy to make lower monthly mortgage payments.
Council leaders said Church Hill in Redditch needed the new shops and other services to help prevent anti-social behaviour there.
The area, which has 10,000 residents, was chosen above three others in the town to have the revamp.
The plans will include having a high street on both sides of the street to encourage more businesses to the area.
New car parks will also be built.
It’s that time of the year again when you need to wear those rain boots and take your umbrella along with you everywhere you go. As ready as you are to take on the rainy season, have you ever considered getting your home prepared as well?
Here are some tips on how to prepare for the wet season.
1. Get your roof ready for a lot of rain. – Look for cracks or holes on your roof that might cause water to enter your home. The roof should be on a tip top condition.
2. Clear any debris or dry leaf that can cause clogging of the rain gutters. Your gutters should drain well.
3. Make sure that both your door and windows close properly. Not being able to properly shut both is one of the major causes of having unwated rain water to enter your home and ruin your furniture.
4. If you live in a home that is prone to flooding, have enough sandbags to counter the flood.
It’s impressive how the world is slowly but surely turning itself environmental friendly. Kudos should be given to countries who take this case seriously and would want to change the world for the better.
Qatar is one of those places that have made a stand and is advanced when it comes to applying sustainability to real estate projects. This was also proven after the study done by Gulf Organization for Research and development. They have the largest environmental friendly city in the whole of the middle east.
Qatar has numerous projects that are to be done in the future that also focus on having sustainable “green” real estates. In fact, 80,ooo homes for low income expatriates are getting ready to be started. The project is scheduled for the third quarter of this year. Qatar is really focused on holistic vision for sustainable development for citizens and expats alike. This is good way to be proactive.
Lauren Conrad apparently still has a lot of money from her time doing the reality show The Hills because she was still able to get herself a really expensive and beautiful mansion in Los Angeles. The once reality star dropped $3.7 million for a 4,300 square feet mansion with six bedrooms and 5 baths. The house in LA has brand new kitchen, a basketball court and a big back yard, in case she decides to host a party for her former reality tv co-stars, then this place is definitely ready.
Lauren Conrad starred in Laguna Beach then got a spin off called The Hills. After her stint in the show, she wrote several books, all of which has gained popularity with the young women, and has also started a new brand of clothes. This probably explains why she can still afford to buy a huge mansion.
Conrad is only 27 years old and is one of the most influential celebrities in the industry.
Though recession has evidently slowed down the real estate industry last year, it still did not stop people, at least the rich ones, to purchase expensive homes. According to Trulia.com these were the most expensive homes of 2012, some of it were already sold, some are still in the market.
5. Woodside California’s $85 million mansion. This 9,000 square feet home has 9 bedrooms, and 8 bathrooms. The home itself is not as expensive but the vast land of 91 acres property is beautiful and has so much potential.
4. Sherry Netherland Penthouse in New York. This home has 7 bedrooms and 8 bathrooms. A full floor in this NY hotel overlooking Central Park is being sold for $95 million.
3. City Spire Penthouse – This home, also located in New York is for the value of $100. It has 6 bedrooms and 9 bathrooms. Great view and sits more than 70 stories high.
2. Ocean Drive Mansion, Miami Florida- For a bargain at $100 million, this mansion boasts of 10 bedrooms, 11 baths and has hand-painted frescoes and an observatory.
1. Fleur de Lys - $125 million mansion with 12 bedrooms and 15 baths. Located in Bel-air, Los Angeles. It has a screening room with 50 seats!
Some places are just more expensive to live in than others. Real Estate pricing have soared high in the past few years which is a bit of a disappointment to everyone who is also experiencing tougher times, with the recession continuing all over the world. So if you want to avoid living in the priciest places on earth, here is a list of the most expensive markets in the world. Remember that this list is based only on the real estate value and not the cost of living.
5. Paris, France – The value of real estate here is almost similar to that of Tokyo and Hong Kong Market but is still relatively more expensive with at least $2,100 per square foot.
4. Moscow,Russia – In this big city, it would cost you $2,120 per square foot. The emerging growth of their country’s economy is one factor that draws a lot of people to live here.
3. New York, USA- Concrete jungle where dreams are made of, and apparently making of your dream ain’t cheap. This city will cost you $2,160 per square foot.
2. London, UK- This place was never cheap to begin with and has just doubled. $3,670 per square foot!
1. Monaco - Well this place is obviously home to the richest of the rich! $6,550 per square foot! OUCH.
Celebrities always have the most impressive homes for the obvious reason that they earn some ridiculous amount of money and therefore are so wealthy they can afford mansions that can almost fit a small army. There are a few celebrity homes that stand out and we will narrow it down to the most beautiful, most expensive and most unique homes in America.
Robin Williams own a 20,500 square feet home in Napa Valley which is estimated to cost $35 million. It has a climate controlled art cellars! Who would have even thought that’s possible? It also includes a Vineyard. Pretty much expected since it’s in Napa Valley.
Basketball legend Michael Jordan’s house is a 7 acre spread with a basketball court and golf course! This $29 million home also has 15 bathrooms. Apparently, it is necessary to have bathrooms in every corner!
Rosie O’donnell’s $19.5 million mansion in South Florida has 12 bedrooms, 11.5 bathrooms PLUS two separate cottages for guests that might want extra privacy.
Both modular and manufactured homes are built in the factory but modular homes have more advantages.
Manufactured homes are also called mobile homes, and are built only to HUD, or federal building code. They are not required to meet code requirements in the specific destination where the homes will be erected. Also, it is not required for the inspectors to approve the structure.
Modular homes on the other hand, have to pass a stricter set of guidelines. It is held to the same IRC code requirements as site built homes, and must adhere to the local and state codes. It will therefore appreciate better as investments.
There is a mortgage crisis in New York, not only in low cost houses, but also in homes that are valued $500,000 or more.
Real estate agents say that lending activities in the area has fallen dramatically even during this peak season, when buyers and sellers should be busy. Mortgage bankers say that the change is due to tighter financing. Since the borrowers are starting to find it hard to get lenders who will fund big amounts of financing, they do not bother to buy at all. And even when they do, they usually end up in banks charging as much as 9% in interest.