Gunn Real Estate Group

Category: Home Tips

  • How to Buy off the Plan

    How to Buy off the Plan

    If you are thinking of investing in property there are several ways to go about it. You could buy to rent, build to sell, or flip a property for profit. One other way investors make an easy profit of buying and selling homes it’s by buying off plan property. The process for making an off plan property investment is outlined below in more detail. 

    OFF PLAN PROPERTY 

    Off plan property means property that has yet to be built. The idea is to buy a property at current market prices and make a profit on it when it’s sold a year later. In a year’s time the market conditions will have changed. 

    It can be a risky form of investment as it’s based on the improvement of the housing market. However, in some cases  profits of 10% or 20% can be made by purchasing a property before it is ready for sale.

    DO YOUR RESEARCH 

    As with any purchase of property research is important. But it’s even more important when you’re buying an apartment off the plan. Since the property is yet to be built you need to pay particular attention to any concrete information you do have such as location and housing prices. 

    Before investing in an off plan property find out about the desirability of the area and what amenities are available there. Also research the market conditions for similar properties and its viability for rental. Without research you may be financially vulnerable. 

    LOCATION 

    Although it has become something of a cliche the location of a property is still one of the primary factors you should consider. It’s especially important when buying an off plan property that doesn’t yet have any infrastructure. The location is one of the best determining factors. 

    Consider the local area as well as the wider area. Is it being developed or regenerated? This could offer some appeal to potential buyers. Then consider how close the shops, parks, and schools are to property you’re thinking of buying. These are high priorities for many people. 

    KNOW YOUR MARKET 

    Before you invest large sums in an off plan property think about your target market for selling the property. Consult with local estate agencies to find out the type of people who buy in that area. The better you understand your customer the better you can cater to them. 

    Furthermore, with off plan property you will typically be competing with other investors and developers. Find out how many units of a development have been sold and who you are competing with. Knowing more about a property’s demand can give you an edge. 

    PRICE 

    It’s always a good idea to research the property market and find out the average prices that similar properties are being sold for. This should give you a reasonable indication of the profit you can expect as a return on your investment. 

    But be warned. The housing market is continually changing and there’s no guarantee that house prices in the area will stay the same. As with any investment there is an element of risk involved, but with the right research and analysis you can make a calculated estimate.

  • Top 4 Unique Features Renters Consider in a Rental Apartment

    Top 4 Unique Features Renters Consider in a Rental Apartment

    As a property manager, developer, or landlord, your dream is to attract high-quality tenants. This term refers to individuals that pay their rent on time and obey rules and regulations. To this end, you might go to the extent of making a poster to indicate your preferences outside your building.

    There is no shame in wanting trustworthy and reliable clients. as a business owner, it is only natural to seek the path that guarantees your success. However, don’t get carried away because high-quality clients require extraordinary rental properties with services like after care for new homes. 

    Besides, these customers are only willing to pay you for state-of-the-art rental properties. Anything short of that will attract lousy tenants. You are in luck because there are features that this shipshape clientele appreciates. These features include:

    1. Security

    Your property’s structure should allude to safety. It would help your cause if you fenced the whole establishment with sophisticated equipment. Installed CCTV cameras wherever necessary and had a security team at the entrance. 

    Whenever you reassure your clients that the building is secure, let it be painfully apparent to them through the ideas above. After all, executive customers value the level of security you offer above all else. Moreover, they are willing to pay you the highest prices for this luxury. 

    1. Location

    Excluding elegant clothing and luxury cars, the location of your refined clientele’s residence is fundamental to their social status. In this regard, the location preferences differ from one person to another. As a developer, have diversity in your properties to cater to these needs.

     A family might rent property in the suburbs where it is quiet and roomy. On the other hand, young adults have an affinity for urban residences closer to shopping malls, night clubs, workplaces, and friends. Both clients will be willing to offer you higher rents for their needs. 

    Additionally, they may overlook your property’s unimpressive features if it’s in the preferred location; coincidentally, the environment is also related to security. 

    1. Ready for Move-In

    Renters usually come to your doorstep when they are ready to move. Therefore, ensure all the properties you advertise are ready for occupation.  If you advertise a half-done residence,  you may come off as desperate and scare away potential tenants.

    Furthermore, you have competitors who are ready to provide for these tenants when you are lagging. Increase your chances over them by being reliable at all times to potential tenants. Stay alert at all times because your business rivals will not spare any time to snatch them from right under you.

    1. Open Floor Plan and Abundant Storage 

    The young and successful renters you want to flood into your building enjoy thoughtful plans and realistic storage spaces. Understand that the  Open floor plan gained popularity for its simple aesthetic. Moreover, there is a consensus that whenever your residence has an open plan, its demand goes higher.

    While most people understand that small living spaces maximize your profit, no one will understand the lack of cabinets and closets. Encourage your architect to incorporate the maximum amount of storage space possible. Your clients will appreciate this and possibly overlook your shortcomings.

    Final Thoughts

    Like all businesses, real estate demands your creativity, practicality, and customer-oriented productivity. Otherwise, you will get overlooked by the coveted high-quality clients. The above tips should lead you to stand out amongst your rivals.

  • Buying a home checklist

    Buying a home checklist

    Buying a new property can be a stressful time in your life. Remembering everything you require in your new home as well as the process you need to follow to ensure that everything runs smoothly can be overwhelming but with this guide you will be able to buy your new home with ease.

    Preparing your current home

    The best way to stay organised when packing up your current home is to label the boxes with each room and what is in them. This method allows your removal men to know exactly what room to place them in while you know what is in them when unpacking. Pack important items that you need to unpack first in the same boxes and put a note on the label that these are important. This will allow you to live with the main basics without traipsing through every box to find two plates, forks and a bar of soap. Wash down the skirting boards and door frames to make them pop when you walk into a room as this will give a good impression that the home is looked after because this is often the place where dust will sit. Investing in good storage boxes now could help protect your items on the move. In addition, it can be helpful for storing in your new home to keep you organised, so taken into consideration the colours of your storage items you purchase as these could compliment your interior design. 

    Process of buying a home

    When you are looking at properties it can be overwhelming to know where to start. Using companies such as Bellriver Homes will show you properties that you can filter to suit your requirements. Often it will take around six months to buy your potential home to move in. When you find the property you are after, check through the contract to ensure that the deeds are correct and meet your requirements, this will avoid any mishaps later on. Before you settle for the property it is a good idea to make relevant conveyancing checks that are worrying you to ensure that everything is up to standard. 

    When you have found a property

    Once you pay any stamp duty land tax and register your ownership with the land registry it is time to meet your estate agent to collect the keys. Getting comfortable in your new property and making it a home takes time but it will be worth it. Open those boxes that are important for daily living first so you can eat and keep up good hygiene whilst you start the unpacking process. 

    Start by giving everything a wipe down with anti bacterial spray to ensure it is safe for you and your family whilst giving your new home a fresh new look. It’s nice to have a clean canvas to move your items into. 

    It is easy to forget to let banks, building societies and credit card companies know your new address so do this early so it is done.

  • What Are Some Of The Mistakes People Make When House Hunting?

    What Are Some Of The Mistakes People Make When House Hunting?

    Whether you are looking to buy your first home or you are in the market for a vacation property, there is a lot that needs to be considered. You need to make sure that your purchase is the right one for you. After all, buying a property represents a massive investment, and it is not something that can be reversed with ease. With that in mind, we have put this post together to enlighten you on some of the common errors that people tend to make when house hunting. By learning about these mistakes, hopefully, you will be able to make sure that you do not make the same ones. 

    • Not finding a Real Estate Agent that understands your wants – There are a lot of different estate agents out there today, and so it can be difficult to decide which one to go for. A lot of people simply opt for the first estate agent they lay their eyes on. There are then those who use a real estate agent because their best friend has. However, one of the most critical things you need to do is ensure that the estate agent shares the same vision as you. After all, there are many houses on the market, so you want to ensure that their niche matches what you want to purchase. appreciating the unique needs of their clients.
    • Not thinking about the future – Another big error that a lot of people tend to make when they buy a property is not thinking about the future. They purchase a home that is right for them now, but they do not consider their needs a few years down the line and whether or not the house is going to be suitable. This results in them being frustrated a few years down the line, which is not what anyone wants when buying a property.
    • Compromising on your wants – Last but not least, when you start property hunting it is always advisable to make a list of your non-negotiables. These are the things that the property needs to have, and you should only consider viewing a home if it ticks those boxes. The big mistake people make is falling in love with homes that are not right for them and then buying something even though it does not fulfil the basic list of criteria they have established for themselves. This is a recipe for disaster and must be avoided.

    So there you have it: an insight into some of the most common errors that people tend to make when they are house hunting. We hope that you have found this information helpful and that it will prevent you from making similar errors when you are looking for a property. One of the most critical pieces of advice is to make sure that you do not rush into the process. When we rush into anything in life, this is how mistakes and errors tend to happen.

  • Ways to Save Money on Your Hydro Bill

    Ways to Save Money on Your Hydro Bill

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