How To Saving Money Building Custom Homes

Designing a new house is exciting as endless creative ideas can be transformed into a reality, however being mindful of a budget can save unnecessary expenses and much heartache down the line. Constructing houses from the ground up involves experienced architects, designers and knowledge of building regulations to produce functional and appealing results. A beautifully developed and affordable home can be achieved when mindful of savings.

Significant expenditure goes into the creation of customized homes from the impact of economic markets to the costs for design teams, labor and materials. Without strict planning and cutting back where necessary, a budget can soon become out of control leaving many people out of pocket before project completion. Adhering to a few cost saving strategies may assist in saving and minimizing exorbitant finances.

The first step is to think about what you will need in a house. Large and extravagant properties involve complex design processes, lengthier project completion and a higher price tag. Opting for quaint, comfortable homes that are easier to maintain without losing on a sophisticated and modern appeal are more cost effective and improve the odds of obtaining funding from a bank.

Calculate the cost per square foot to provide an idea of the total finances involved in the size of a custom house. Assess present living requirements and whether a property plan offers flexible design for future expansion. A smaller house will prove more affordable in comparison to a significantly larger plot.

Costs for wooden features and structures can be reduced by purchasing reclaimed wood. Recycled materials suitable for use in construction can cut expenses for particular developments without compromising on quality. It is a popular means of supporting an environmentally friendly or green approach to building.

The selection of flooring or stairwells includes an assessment of upfront costs and long term investment potential. Always determine the value that a particular installation can deliver over time including maintenance so you will not have to replace modifications and hike expenses. Consultation with a professional design team can determine construction solutions that are affordable and valuable.

Custom home design must include a detailed plan of house style, size and budget requirements. Reliance on a building professional and modern technology can produce cost effective solutions in the development of a dream home. Working with experienced and knowledgeable architects and doing your homework can contribute to significant financial savings without losing on desired form and function for the new property.

Choosing The Right Industrial Premises

The company is growing and business is booming. Up until now you’ve been working out of a small rented space but as you become more popular and you’re turning a decent profit, you’ve found that that’s just not enough space to meet the demand you’ve worked up. You will also need to take on additional staff now that you’re a bigger company, so it’s important that you find somewhere to put them – and reasonably quickly so you don’t have to turn away potential business in the meantime.

Often when people are looking for industrial premises they will make the mistake of going too big too quickly. While some properties obviously look better than others, they will also come with a bigger price tag which could well put them out of your reach. If you sign a lease on a property like this and your company doesn’t grow rapidly enough to fill it, you will find that you might not be taking enough money to pay your rent, and therefore your whole business could collapse as a result.

If you’re looking for industrial premises such as office space, consider no further forward than your next year. There’s no point planning for the long term if it means paying for space you can’t use and probably can’t afford either. Hot desking is a great solution for smaller and growing companies as it means you’re able to rent industrial premises on a per person basis. This means that your office space can grow with you without the hassle of having to find new property whenever you need to take on new members of staff and grow departments.

Once your growth has stabilised, and you have reached what might the perfect number of staff for your business, you can begin to look for industrial premises based on their specific size. This is a really common way of finding the perfect space, and you can even buy which can be cheaper when you’re looking for a more permanent solution to your space dilemma.

Consider just how much space you need, and make sure you have considered the furniture and the space that will take up. It’s a good idea to bring a tape measure with you so you can gauge just how much space each desk will take up within a room or building. It’s very easy to think a space is much bigger and more usable when it’s empty, and guessing is rarely a good or successful idea.

7 Things to Know About Forming an Apartment Owner’s Association

We live in times when apartment projects and gated communities have swiftly taken over the real estate sector. Since these projects tend to be large in size, they need an association of people who can responsibly manage and maintain the functions of the communities within. With an average of 150 homes sitting in a residential complex, it goes without saying that forming an apartment owner’s association makes things convenient for all apartments holders.

If you have invested in a gated community or wish to form a housing association in your current community, it’s important for you to know the seven key things about forming these associations.

1. Number of People Required

A minimum of seven homeowners is mandatory to start a housing association. Along with other interested homeowners, you should reach out to the local registrar of society, and make sure that the society is registered as per the law.

2. Opening a Bank Account

After seven or more homeowners agree on forming an association and the registration process is completed, a bank account should be opened in the name of the society. It’s important to open a single bank account in the society’s name, to ensure proper maintenance of the capital and collection of funds such as membership fees.

3. Abiding By the Bylaws

Formation of associations is subject to different laws and conditions, depending on the city or state. Before initiating the formation of a society, it’s advisable to read through the bylaws of the state you’re residing in. This will help you complete the registration process smoothly.

4. Hiring a Legal Professional

The legalities of registration can be better judged and managed by a lawyer. A skilled property lawyer can help you sail through the technicalities of registration and also arbitrate disputes between the association and the builder, while also managing disputes within the association.

5. Conveyance of the Society

Once the registration process is complete, you should get the conveyance of the society done, from the builder’s name to the owner’s name. Per the law, it should be done within a specific time period after the registration.

6. Assigning Duties to Each Member

The role of every member in an association should be determined with the consent and collective vote of all the other members. An association has various roles, such as president and treasurer. The duties for each of these roles should be clearly communicated, to effectively run the association.

7. Annual Elections and Timely Meetings

After a homeowner’s association is formed, timely meetings and annual elections should be held. To be an active part of the association, you have to make time to attend these meetings regularly and provide inputs. Members of the housing association also have rotational terms. The term isn’t fixed by law, and is left to the prerogative of the members to elect others.

Top Tips For Finding Industrial Premises

When your business gets to the stage that you can move into your first industrial premises everything will start to feel a bit more real and a whole heap more tangible. It marks expansion, profit, and the beginning of good things to come. It doesn’t mean you’re out of that difficult early years stage where everything can still fall apart, but it does suggest that you’re not completely off track either.

Size matters

And it matters for two reasons. Many people will get over excited with the idea of moving into some brand new industrial premises, and start looking at the biggest and most expensive options available. For fairly obvious reasons, this isn’t the best idea. You’re still not a huge and well established company, and the chances are you don’t need that space either. The smaller the space the cheaper it will be, and usually out of town locations offer better value as well. There doesn’t need to be a lot going on, just enough space for your basic setup and to keep you going for at least the first year.

While you’re going to want a bit of room for expansion, don’t go wild. If you can get away with it, it isn’t a bad idea to share with another business when you’re first starting up, paying only for the space you’re actually usually, and splitting the costs of bills and boardrooms, a receptionist and security.

Think about style

Be practical here. What sort of business are you running? For offices, the hot desking option is usually a good first foray into the world of industrial premises because it allows you to grow at your own speed, and only pay for the space you need and use. There is no need to move out of the offices immediately when you take on new staff because you can simply add another desk to your rent package. As you grow this will cease to be a cost effective way of renting industrial premises, but in the early days it can save you thousands.

Budget, budget, budget

If you’ve managed this long without offices, the chances are they’re not entirely desperate yet. Think about how much you can afford to spend on rent and other associated costs very carefully before you rush into any sort of leasing agreement. If there’s nothing you can afford on the market at the moment, play the waiting game. As other companies grow they will move out of the small offices, freeing up the space for you.

Hard Workers Can Make Great Real Estate Agents

Finding a job can be tough. Finding a job that is fulfilling, allows you to work for yourself, set your own hours, and pays well? Well, that can seem downright impossible. A career as a real estate professional offers the opportunity for the right candidates to be their own boss, set goals, and earn a living – all while helping clients find their dream home.

There are a number of reasons to choose a career helping others to buy or sell homes. The Bureau of Labor Statistics predicts 11.1 percent job growth through 2022. As long as unemployment remains relatively low and the housing market continues to strengthen, real estate agents will be in high demand.

Start-up costs are low relative to other businesses. However, you should also keep in mind that the business is based on commission. Be prepared to go a few months without a paycheck and be prepared to work very hard for your first few sales.

You should also consider whether your personality is well suited for the profession. Real estate agents are personable, engaging, and confident in their abilities. They achieve a sense of fulfillment by helping others. Careful attention to detail and the very specific needs of clients is also important in this job. Tenacity and a strong work ethic are also required. Strong networking skills are also a benefit in this profession as connections to other professionals and brokers, potential buyers and sellers, appraisers, home inspectors, and mortgage loan officers can help the buying or selling process move more quickly for clients. Finally, professionals advocate on behalf of their clients throughout the home buying or selling process. A commitment to honesty and high ethical standards is an absolute must in this field.

The first step in entering the profession is obtaining a license. Requirements vary by state, but real estate agents are typically required to attend courses and sit for a licensing examination. Many community colleges offer the required courses and they may also be available online. Nonetheless, these classes are usually not very expensive.

After obtaining a license, the next step towards your career is to choose the broker for whom you will work. The broker is someone who has three additional years of training who is licensed to manage his or her own business. The size of the brokerage, years of experience, whether there is a mentorship program in place, and how the firm develops leads are all important considerations when selecting a broker. Friends or neighbors who recently went through the home buying or selling process are also good sources of information about a broker’s reputation.

Finally, you can begin marketing yourself as an agent. Work with a mentor who can guide you towards contacts or ask friends and family for referrals. Business cards, signs, and advertising are also good ways to let others know that you want to help them buy or sell a house.

If you are a disciplined, hard worker who enjoys matching buyers with homes, a career in real estate may be a good choice for you. Start working with a mentor to find out if you would be interested in pursuing the profession.

Why Is Chennai an Ideal Realty Investment Destination?

Being on the list of the 12 most preferred cities in the world for realty investment, it doesn’t come as a surprise to see a wave of positive buyers’ sentiments flowing. Potential home buyers and property seekers are now showing a keen interest in purchasing properties in Chennai for its high ROI (Return on Investment). The appreciating capital values of homes are luring many local and national real estate developers to create many state of the art residential ventures.

The steady housing demand has resulted in creation of many active residential catchment areas. Recent reports suggest that regions along the western side of the city have recorded a high absorption rate. With the affordable segment selling more inventories, builders are now creating an array of homes that meet the needs and demands of MIGs (Middle Income Group) individuals. Peripherals along the East Coast Road, OMR and Poonamallee are bustling with construction activities. Factors like steady infrastructure and the growing IT (Information and Technology) sector have lured many white collared professionals to invest in smaller apartments in Chennai.

With infrastructure being a major element that is roping in a lot of investment, the city has many projects in the pipeline. The Chennai Metro and Mono Rail and the proposed ORR (Outer Ring Road) on National Highway 4 have brought the city on the global map. Renowned real estate developers are now purchasing land in large parcels along these projects only to build extraordinary living spaces. They are now wooing potential home buyers by offering generous living spaces at relatively economical prices.

Neighbourhoods like Oragadam, Ambattur and Sriperumbdur have documented an escalation of 25 percent in the past few years. Depending on the amenities and facilities offered by the builders, an apartment for sale is expected to hover anywhere between Rs 4,000 and Rs 4,500 per square feet. Similarly, realty prices of plots and villas too have seen an appreciation of 18 percent in the past two years. For instance, an individual house for sale in Chennai especially in areas like Oragadam and Ambattur is cited to fall under the price bracket of Rs 2,900 and Rs 5,300 per square feet depending on the facilities offered by the builder.

Apart from being an ideal investment destination, the city fast transforming into becoming a rental hub. The growing IT sector has attracted a fair share of the floating population and migrants are now showing a keen interest in renting out spaces close to their office spaces. Investors and second time home buyers are now tapping into this demand and are purchasing properties only to rent them out on a later date. A 2 BHK apartment in ECR is easily capable of churning out rental yields anywhere between Rs 12 and Rs 22 per square feet per month making the market a haven for many investors.

Utilize this opportunity at your best and invest in properties in Chennai as they not only promise high return on investment but they also generate high rental returns making this market a hit amongst many investors and property seekers.

Get a Move On With Real Estate

When it’s time to make a big change, life may offer a subtle sign, like a spouse’s note on your pillow that reads, “I never want to see you again”. But how do you know when to nail that “For Sale” sign in the front yard of your real estate?

As life-changing decisions go, selling your home is right up there. Whether it’s to take a promotion, care for aging parents or something more personal, only you can say if it’s the right move for you. But if the choice to sell real estate has been made and the only thing left to decide is the timing, a few pointed questions should tell you if that time is now.

Can We Afford it?

It sounds like an obvious question. Yet given that household total credit-market debt – mortgages, consumer credit and non-mortgage loans – rose to 162.6 per cent of disposable income last year (how is that even possible?), it’s not. Maybe you got in over your head with your first home, but now that you’re slightly older and much wiser, take a close look at your finances before making a move with real estate:

• Is all of your non-mortgage debt paid off?

• Do you have an emergency fund with 3-6 months of expenses put aside?

• Has your home recovered enough value to give you at least 20% equity for your purchase? This will enable you to make a 20% down payment on your next home, saving you thousands of dollars in mortgage insurance costs. If you don’t know the answer, ask an experienced realtor for a free comparative market analysis that will indicate the approximate market value of your real estate.

If you answered “yes” to all three, you may be ready to take the plunge in selling real estate. If you’re not sure what an emergency fund is, you still have work to do.

Are We Still Emotionally Attached to our Current Home?

Do you tear up when you see the notches in the wall where you measured your child’s growth, or do you just think “they must have an app for that now”?

On the other hand, you may have recently experienced a divorce or other loss that necessitates a fresh start.

Usually the reality is somewhere between those two extremes. Whereas the question about finance was directed at the head, this one is clearly for the heart. If you’re quiet for a moment, it will tell you what to do. You just have to listen.

Remember, an expert realtor can offer a wealth of advice on the sale of your real estate. If you’re not ready to take it, however, you’re not ready to sell.

Does our Home Still Fit our Lifestyle?

In most cases, moving out of real estate is more than just moving over. It’s moving up or down. If you have a new addition or one on the way, it might be time for another bedroom or two to keep the “happy” in “one big happy family”. Conversely, when the kids (finally) leave the nest, downsizing can mean less upkeep and more time to enjoy the peace and quiet. After all, you’ve earned it.

With so much at stake and so many factors to weigh, the decision to sell your real estate is rarely a simple one. Nevertheless, taking stock of your finances, emotions and lifestyle can go a long way to giving you clarity. And if you should get that nasty note on your pillow, look on the bright side. Your moving decision just got a whole lot easier.

To What Degree Are Businesses and People Leaving London – And Why?

The exodus of younger, entrepreneurial Brits to other cities is measurable and noticeable. And who can blame them? Great jobs and better housing await them.

Many people were surprised to hear in late 2014 that over the previous year 60,000 Londoners left that city to move elsewhere in the UK. Fine, one might think, that helps solve the housing shortage, right?

“Solve” is far from it. In fact, immigration from outside the UK makes up the difference quite handily such that the city’s population is expected to grow from the present 7.95 million to 10 million people by the year 2030 – which will require the construction of a half-million more homes. Instead, this exodus from London to places such as Birmingham, Bristol, Manchester, Nottingham, Southampton and Oxford is driven in part by the lack of housing.

These are the private drivers of housing needed in areas of economic growth. Which may well be what’s happening in places of voluntary exile. Within that large number, 60,000 people, the Office of National Statistics shows a smaller but probably more impactful figure: 22,000. That’s the net outflow of people in their thirties on the National Health Service registers, which is likely an undercount.

The reason that this is the more meaningful number is two-fold. One, that people in this age bracket tend to have young families and as such they illustrate how hard it is to raise a family in London. With the cost of housing so high they lack the funds to manage getting on the property ladder at all or to do so means a significant compromise to their expectations for the size and location of the homes they want. One couple told The Guardian in December that for the same money they were spending to rent a 1.5 bedroom apartment in Wimbledon Village they could buy a five-bedroom house in Kings Norton, near the Birmingham city centre.

But second, this is the age when many people start businesses. If they are starting them in Birmingham, it means they’ll likely remain established there. A few will grow to be significant employers – further promoting migration to what once were considered second-choice cities. Their funds and assets will grow here; in fact, cities such as Birmingham have been receiving young entrepreneurs for several years already, particularly after the financial crisis of 2008.

As one might expect, many of these entrepreneurs are in the tech sector. Among the 6,000 technology companies based here are those in the computer gaming sector that comprise a full 20 per cent of such companies in Britain. Online fashion retailer Asos established a key development office in Birmingham in 2013 because company officials felt confident they could recruit talent there.

Global corporations are looking outside of London as well. Deutsche Bank established an office in 2010 in Birmingham with 50 employees. They’ve grown to 2,000 employees in just five years.

Their investments in land, building and commercial properties help these older, non-London cities to reinvent themselves. As many of these émigrés arrive with good salaries and for the purpose of bigger homes, the market for new and better houses is strong.

Investors always like growth regions for obvious reasons. But blindly investing in land or property is highly inadvisable. Speak first with an independent financial advisor to learn how and where to find the types of asset growth that fit your objectives.

Before Buying Size Your Residential Real Estate Needs

The largest investments we make in our lives are often the hardest to refund, that’s why it is really important to figure out what you need and then move on with your search. If we talk about the big investments, one thing that people spend their whole life’s hard-earned money is real estate. No matter whether you are extremely rich or a common man saving every penny to buy a home for his family, you can’t afford to make an impulsive decision and turn your moment of joy into remorse by settling down for something you never wanted. It is crucial to know about the options you have before taking a plunge into home buying, for they say half of your search completes when you are sure about what kind of home you are looking for. The list of the options that any average home seeker can look for in the real estate market includes:

Newly Constructed Home

What could be better that designing each and every detail of your dream home yourself? 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 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.


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.

Designs For An Ideal Granny Flat

When you have a garage or outdoor shed in your property that is no longer being used, one option that you can consider for putting this space to good use is to convert it into a granny flat. This miniature house of sorts has become a popular fixture in many Australian homes because it offers a great way to utilise space in a residential property as well as save on rental costs that a person would have to pay if he were to settle into a place elsewhere.

This second dwelling can be fixed up to be attached to the house or separated. Many property owners choose to build it as a separate structure so that it would not disrupt the original house, which could involve high renovation fees.

Not just for grannies

The name “granny flat” is said to have come from the fact that these structures would be used by families to provide a separate living space for their ageing or disabled parents, so that they could maintain some degree of independence while still remaining within the family property where they can have company, assistance or any help that they would need.

But more and more people are becoming creative with their use of the granny flat; others would use the space as a home office or a place to pursue hobbies, like making crafts or building things in a workshop. Still others fix up the place to so that they can rent it out to individuals or couples looking for an affordable place to live.

How do these spaces look?

Granny flat designs, Sydney experts say, can vary greatly from place to place, depending on their intended purpose. Generally, a granny flat has to be smaller than the original house in the property; some of the minimum requirements include maintaining a property size of 450 square metres, and a maximum size of 60 square metres for the actual granny flat.

Some granny flats come with one or two bedrooms, one bathroom, and an open-plan kitchen and living area. Others can have up to three bedrooms and two bathrooms instead of one, plus high ceilings so that the unit can benefit from more space and light. A porch in front can also be incorporated so that its dwellers can have a place to enjoy the sun and the breeze.