Monthly Archives: October 2017

Contractor to Do Work in Your Home

Aspect of hiring a contractor to do work in your home is to understand what permits, special requirements or licensure are required for each job.

REFERRALS
Be sure to ask for referrals and references and know the relationship of those referring parties to the contractor. Ask for pictures of installations on similar jobs that have been performed for others and give those referring parties a call or visit to ask how the work was performed, the attitude during the job, coming in on budget and wrapping up on time. Discover if there are any negative remarks online or with the BBB. Be sure he or she is qualified to handle the scope and type of work needed, especially with regard to special conditions such as lead based paint, asbestos, mold, etc.

IDENTITY
If the home is occupied, if personal items are stored there or is otherwise notid_verified vacant, be sure to qualify your contractor if he’s unknown to you through online services such as mysmartmove.com or others. Get a copy of the contractors driver’s license and have him sign a w-9 to include his social security number. If you’re an investor and renovations are common for you, you may want to investigate the Verify Photo ID app recommended by Inman News.

CONTRACT
Next, execute an Independent Contractor Agreement with your contractor. Be certain it has no verbiage or requirements to suggest the contractor is an employee of yours.

PHASES
Now is the time to outline and understand the three phases of the renovation. The initial Phase One is paid on day 1 of the job. The subsequent draws for Phases Two and Three should be paid by the week, on a Monday or Tuesday. In constructing the phases, the contractor should budget for each item and any overages or misquote is the responsibility of the contractor, not the homeowner. Make sure your agreement covers things such as milestones, and outlines the scope and sequence of the work to be completed. The contract should include the description of all work, and condition of Customer Satisfaction such as all items completed in a workman like manner, job site left clean and tidy daily, and no items incomplete.

MATERIALS
Ideally the home owner should have chosen paint colors, sheens, types for each space, cabinets, granite and whatever materials will be used in the project at the source. Have your Independent Contractor pay for those materials and have that provider deliver the materials to the job site, then reimburse the contractor immediately – this strategy avoids any appearance of establishing an employee/employer relationship. Do not pay for routine tools and supplies the contractor uses in his everyday business such as paint brushes, ladders, tarps, etc.

Potential Home Buyers Towards Gurgaon

The recent boom in real estate market can be mainly contributed to the metro rail that connects the Gurgaon city with the country’s capital city Delhi. So people who cannot afford to buy a flat in Delhi can very well choose flats in Gurgaon for their investment as they can travel to Delhi easily for work.

While there were unexpected slow slowdown in the real estate market of Gurgaon in the previous two years, the market has now getting on to a stable mode after inviting in new projects. Now Gurgaon builders have started to see Gurgaon as a best place for investment. Gurgaon has a lot of localities have a good reason to mention them as best one for investment.

The area around the Northern Peripheral Road with its rapid development have promised to offer a high return of interest in another few years. Its close proximity to the airport and to Delhi has fetched it a peak position in Gurgaon real estate. This Dwarka-Gurgaon link expressway or the Northern Peripheral Road also helps people to avoid traffic during the peak hours on the Gurgaon toll near Delhi. With such expected appreciation, this sector is ideal for potential home buyers. Other sectors of Gurgaon, which are also making their move towards becoming a residential destinations are Sectors 80, 81, 82, 85, 86, 90, 92, 93 and 95.

Gurgaon real estate has gained a promising place in Haryana in just last two decades owing to its infrastructural development and government support. With favourable tax policies given by the state government to the investors, Gurgaon has emerged as a well-planned development area. Also the Haryana Urban Development Authority (HUDA) has taken several steps towards making Gurgaon a developed city with both social and physical infrastructure.Apart from these compelling reasons, there are also other driving forces that attract potential buyers here such as a large opportunity from the IT and IT companies that have flagged their offices here in Gurgaon. So people working in the NCR region does not want to stay in the already overcrowded Delhi

Size Your Residential Real Estate Needs

Planning your house yourself give you the leverage of choosing every little thing from layout of the structure to the color of the cabinet, which is one of the most dominant reasons why the culture of newly constructed house is increasing day by day. The major drawback that comes along buying a brand new constructed house is the list of unplanned expenses that occur meanwhile the construction.

Condominiums

Condominiums are the individual flats located in a multi-story building. The condominium building generally has its own recreation centers, parks, shopping hubs and is governed by an association that determines the monthly fee and takes care of the maintenance and improvement of the building. The major drawback of living in a condominium is the lack of privacy and increased depreciation during a housing- market downturn.

Townhouses

Vertically joined in a row with other similar looking houses, townhouses are perfect for the people who are seeking for the privacy of a single family apartment along with the exterior maintenance of a condo. Townhouses are generally located in the vicinity of schools and parks. They are bit cheaper compared to the condominiums and newly built houses but will not be the right choice if you are overly sensitive about noise coming from the adjacent shared wall.

Foreclosure Property

Foreclosure properties are known to be an inexpensive alternative for the people looking for a previously owned home that require minor repairs and modifications. A foreclosure property is also known as Real Estate Owned property and is often owned by the lender as the previous owner defaulted on paying back loan. Foreclosure properties are usually up to 65% below the market and are considered to be best deals on the market.

Second Homes

The second home is a secret hideaway people buy to get away from the standardization of life and spend a week or two into the woods away from the hustle and bustle of town. The second or vacation homes are difficult to maintain as there is no one to look after the repairs and maintenance of the house when you are away.

 

Foreign Buyers of UK Homes

That has actually expanded to cities elsewhere in England. And with the outcome of the May 2015 elections, combined with continued instability abroad, that trend may not reverse itself for some time.

And it does affect ordinary citizens in the UK. Part of what drives up the cost of real estate throughout London has been the extreme degree to which the most expensive homes in Central London are sold to foreigners, almost all for cash seeking a safe, stable haven. In September 2014, The Telegraph reported that 20% of buyers in Westminster, Kensington and the City of London were sold to people from Russia, Italy, France and the Middle East. Among the top boroughs favoured by foreign buyers were Camden, Islington and Hammersmith and Fulham.

Most maddening to native residents of Great Britain is the report that 60,000 of these homes in London sit empty. Few of those buyers actually live here as they hold those properties as financial assets. One estate agent told The Telegraph that some developers are specifically building at very high luxury levels specifically to attract these buyers; the average price for prime property in Central London reached £4.7 million as of the middle of 2014.

At mid-price levels at city’s edge and elsewhere in England and Wales, developers are building homes that are affordable to the middle class. This helps fill the yawning gap of the UK’s housing shortage, particularly where homes are needed to house families near emerging companies outside London. That said, The Daily Mail reported in October 2014, “some Chinese buyers who can pay in cash are touring northern towns to find investment opportunities. Experts fear this trend will force up prices for ordinary families.”

In the run-up to the May election, the Labour party spoke of a mansion tax that might diminish foreign interest in buying in the UK. But with that party’s loss, the idea of this type of tax was trounced as well. Estate agents who work with overseas buyers reported an immediate surge of interest on the very night the election results were reported.