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6 Reasons You Might Blow Your Construction Budget

Sure, even the projects with ten specialists working on plans and budgeting can blow their construction budget. However, that doesn’t give you the green light to completely wing your project costs and be content with your huge expenses! There are a few points during the construction, no matter if you’re building a house or a commercial building. Here, you will learn how to spot them and correct them and have a smooth and well-budgeted construction.

Poor design

Most people who blew their construction budget regret not paying more attention to planning and designing their new project. Even though you’re impatient to start the construction, make sure you’ve made the best decisions regarding the design. Remember, it’s free to erase a wall on paper, but it can cost hundreds of dollars to remove it in real life! The design phase is also the perfect time to put in some research into materials, energy-efficiency and construction process. All of these will help you have better control of your budget and certainly bring you the best results.

 

Inaccurate Budgeting

Having accurate or at least, satisfactory) budgeting is the key to staying on track during your construction. If you don’t set your budget at the beginning, you’re risking underestimating the cost and going bankrupt in the middle of construction. However, no matter how many times you’ve conducted your calculations, always have some extra money in your sleeve! Surprise expenses shouldn’t come as a surprise since they almost always pop up in the most unexpected places.

 

Lack of Monitoring

Have you ever found yourself at a store looking at something that might “improve” your project and thinking, “Let’s just get it, we have enough money!” If you’re working on building your first house or a commercial project, it’s very easy to get overexcited and forget about monitoring your expenses. However, these little (or not so little) expenses will quickly pile up and blow your budget. Pros like builders from Akura have plenty of experience with all commercial projects, know all about hidden costs and have great discipline when it comes to respecting budget and deadlines. They will deliver you the key in the end and save your company a lot of money and time that might get wasted otherwise!

 

Last-Minute Changes

As stated above, the success of your construction project greatly depends on your budget estimates. So try to stick to them as much as you can. A few last-minute changes to the design can ruin the whole thing unless you knew you were going to be indecisive!

 

Too Much Attention to Aesthetics

Don’t pay too much attention to aesthetics, especially if it means taking some money away from functionality. It’s easy to improve the façade of your project, but it can be extremely costly to repair or redo the foundation, plumbing or wiring!

 

 

Breaking The Deadline

You know what they say, “Time is money,” and that well-known saying is often very true in the construction business. Delays often mean hiring alternative people, paying additional interests, prolonging the storage rent, damage to materials caused by weather. Not to mention extending approvals and many more expenses that can be prevented. Even small delays can cause a domino effect and cost you extra money by the time you’re finished! Unfortunately, it’s quite hard to stay on schedule, but don’t allow yourself to get too relaxed!

All in all, try to make accurate budget estimates, hire the right people and stick to your initial plans. You’ll see that it’s possible to conduct building projects without breaking the bank! Now, start planning and budgeting—it’s never too early!

 

Source: This article is based upon the facts published on AppraisalNewsCast, which is a well known real estate news blog in US.

 

 

 

 

How to Choose The Right House for You and Your Family

Buying a home is a considerable investment, so it’s okay if you feel a bit insecure about making your choice. However, if you check all of the points on our list, you’ve got the one! Here’s how to know you’ve found the right house for you and your family.

 

You’re Instantly Hooked

Imagine you’ve been given an address of the property for sale. You’re stopping your car at your destination; you see a few houses and one catches your attention. If the number on the house matches the address you’ve been given, you’re in luck! This is a good sign because it means you’re interested from the first glance. Love, at first sight, is a tell-tale sign you’ve found your future home!

 

 

Love at The Second Sight

How do you feel when you enter your property? Do you feel comfortable and cozy, or tense and stressed? If it’s the former, it’s a great sign! This means that the house feels like home even before you’ve made it truly your own.

 

It Fits Your Needs

Sure, no house is perfect, but if your potential new home meets most of your needs and wishes, you will not regret buying it. Are there enough rooms for everyone? Does it have a garage for your beloved four-wheeler and enough storage for the surfboards and golfing gear? Is it relatively close to your workplace, or your kids’ school? Consider all your other significant requirements and if you find them accommodated, cash out!

 

You can Already See Your Furniture Inside

If you can imagine your sofa in the living room or your bed against the bedroom wall, you might have found your perfect home! Are you already checking your phone for a number of your faithful furniture removalist from Melbourne to quickly relocate your belongings? Can you already see yourself telling them where to place your coffee table? If the answer is yes, you’ve got yourself a winner!

 

 

Do You Feel Comfortable in The Bathroom and Bedroom?

 

People often feel very uncomfortable in other people’s bathrooms and bedrooms. If you feel the need to touch the bathroom counter, check the shower or peek into the closet in the bedroom, it’s a great sign. It means you feel comfortable in the house and want to get to know it better.

 

 

You Feel Safe

If you feel good in your new neighborhood and can’t wait to explore it, it’s another good sign. Feeling safe is a big part of the house choosing process, especially if you have kids or you’re planning to add new members to your family in the future. For instance, most Australian cities are very safe and full of honest, hardworking people you’ll probably be proud to call your neighbors.

 

 

You don’t want to Look at Other Listings

 

Sure, it’s always smart to check as many properties as you can fit into your schedule, but if you feel like you don’t want to leave the house you’re currently looking into, it’s a good sign that you’ve found your perfect match. Can’t even remember the previous residences you’ve looked at?  Excellent!

 

You want to Show it Off

Do you want to Instagram a few pics of the home even before you’ve finished the tour? Do you feel excited about organizing your house-warming party and showing off your home to your friends and relatives? This means you love the house, feel proud of your find and can’t wait to make it your own.

If your potential new home fits all of these points, you can stop your property hunt, because you’ve found the house of your dreams! You’ll not regret your purchase. You’ll love your home even more with every day you spend in it.

Source: This article is originally published at AppraisalNewsCast which is an appraisal news blog.

 

 

Top Home Improvements That Really Add Value To Your Property

 

While many homeowners choose to up sticks and move when they want to upgrade or upsize the property they live in, huge numbers are choosing instead to renovate their existing homes – but upgrades can be costly and not all will add value to your property.

Over the past five years, homeowners across the UK have invested £41bn on home improvements, according to NAEA Propertymark, with 73% of all property owners saying they had carried out some form of renovation.

Meanwhile, in the buy-to-let market, there has been an increase in the number of landlords remortgaging in order to carry out improvements on their properties. A study from Countrywide found that 9,523 landlords who remortgaged had renovated their rentals, which is triple the number that did so in 2016.

What this means is that many people are deeming it better value for money to improve than move, but there are pitfalls to be aware of, and it is vital to know just how much your renovations will add to the value of your property to decide if they are worth it.

Canopies UK has gathered data on the average impact certain upgrades have on home values, using data from sources including Nationwide and property expert Phil Spencer, and has found that one of the best ways a property can be improved to push up its value is through increasing floor space. Nationwide figures suggest that an increase of 10% in floor space can push up the value of a home by an average of 5%.

The best ways homeowners and landlords can add value

  • On the subject of floor space, one of the most effective additions to a property is through a cellar conversion, which, while expensive at the outset, can add more than 30% onto a home’s value through the additional living space created.
  • Parking comes at a premium in many areas, particularly as more homes are being developed in crowded areas and cities to ease the housing shortage. Canopies’ study found that investing in extra parking adds an average of £50,000 to the property price.
  • Extensions and loft conversions have always been a popular way of adding extra space, especially for growing families who do not want to move house, and this can add an average of 14% to the home’s value.
  • Conversions aside, increasing a property’s size in any way to add a further bedroom will gain the owner an average of 11%, and this is likely to be a popular option among landlords who want to maximise their rental returns or even turn their property into an HMO.
  • Gaining planning permission has become easier, according to research from Everest, as the government continues to tackle the housing crisis, and it can increase property prices by an average of 10% or more.

Source: This content is copied from AppraisalNewsCast, which is a real estate news blog.

Starting Out As A New Real Estate Agent

Do you enjoy flexible hours? Being your own boss…? Unlimited income…? How about the aspect of helping people buy or sell homes? If so, then a real estate may be a great career choice for you.

As more and more people turn to real estate as careers, employment in this sector is anticipated to grow 6 percent between 2016 to 2026, according to the Employment Projections Data by the US Bureau of Labor Statistics.

Here are some tips to help you get off to a good start and ensure your chance to succeed:

Find a brokerage – Getting your license is just one part of becoming a real estate agent. Before you start selling houses, you will need to find a broker to work with. Choosing the right broker can make all the difference in your success. Most brokers offer training to agents which is essential especially if you are first starting out.

Become a local market expert – If you want to make it in real estate, you have to know the ins-and-outs of the local marketplace. Establish your knowledge of the neighborhood, understand its housing market, identify the buyers and sellers behavior, know the inventory, be familiar with the schools, local issues, traffic concerns and more.

Develop an online presence – Technology is a significant part of a real estate professional’s life. In a study from the National Association of Realtors, it showed that 92% of buyers use the internet in their quest for homes, which drives the need for real estate agents to have an active online presence. If you’re not active, engaging, and networking online, then you’re passing up a good opportunity. Begin by setting up a website and putting all your social media in order. Invest in real estate marketing tools to help you build sustainable lead generation funnels for your business.

Create a marketing plan – Just as with the homes you sell, you can’t build your real estate marketing brand without a plan. You need a vision for your advertising efforts in order to identify your target audience, allocate your resources and budget, and set measurable goals for your campaign. Be completely honest with yourself and realistic about your expectations and capabilities.

Hone your skills – Find the skills that you need to develop to be an effective and successful real estate broker. Communication, relationships and leadership are three social skills you should master as a real estate agent. Having a good mentor also ensures you start out well. They can help you learn strategies and techniques you may have never implemented yourself. Coaching also builds confidence because you can learn about the other agent’s early career experience.

Keep learning – You can’t educate your clients if you’re not educating yourself. Try to keep up to date on trends and issues in real estate.Take continuing education classes that will boost your skill set.

Selling and buying real estate is hard. But if it is something that you love, you won’t get to imagine doing anything else. Your success is dependent on no one else but you.

Source: This article is taken from AppraisalNewsCast, a renown real estate news blog.

Curb Appeal – The Best Advertising Tool of The Trade

Nothing is more important than curb appeal, especially in this day and age! It’s the one thing that makes people want to get inside and put down an offer, and the best advertising tool of the trade. Real estate agents know it, professional photographers know it, too. But how can you make your property speak for itself and create a good first impression? Read on.

Touch Up The Roof

As the focal point of your property, the house is an important element of the curb appeal. Start from the roof. Replace any damaged or missing shingles. According to NAR, a new roof has a 109% of return on investment. Remove moss and algae stains by applying appropriate treatments. You could opt for insulating by creating a green roof – however, it might not appeal to the majority of buyers. Only the ones interested in a green lifestyle and informed about it will appreciate it. The house needs to attract general public so avoid any quirky features.

Wash and Paint The Exterior

Once you are done with the roof, it is time to pressure-wash the exterior. Assess your paint-job to find out whether it requires freshening up. The color you choose should be neutral and blend in nicely with your yard and your neighborhood. Wash the windows, the front, and the garage door. According to reputable realtors, a clean exterior can add some $10k – $15k to your property’s value.

The Entrance

If after washing your front door, it still does not look up-to-scratch, consider repainting it. And don’t forget to replace the fixture. With these two done, it will seem like you have a new door. If you think that your door is too plain or too damaged, better replace it altogether. You don’t even have to shell out too much money. You can even buy used old doors for the sense of style, particularly if you live in a historical house. Invest in a fun matt and some flower planters to decorate the entrance. Clean the path leading to your entrance. If the entrance is not inviting and potential buyers feel reluctant to come in, you have lost them at your doorstep.

The Deck

Having decks is very appealing. If you do not have a backyard, the deck is your patio. Spruce it up with flowers, add some decorative lights an set up patio furniture. You should choose the furniture to match the architectural style of your home. Use some pillows to add color and comfort. Different sized planters and plants can help you have greenery at several levels. You can also hang flower pots, or go vertical with you greenery by using climbing plants – they can create a green privacy screen. An outdoor seating area is a facility sought by those looking to buy a house and without it, it is very unlikely that you will be able to reach the desired price.

 

Landscaping

Your landscape should, by all means, be spotless. This includes a fresh green lawn, nicely trimmed trees, and shrubs as well as clean flower beds and fresh mulch. If you have tall, old trees, you know that the lawn beneath them sometimes tends to die out. You can even plant fresh patches or make flower beds around them. Replace any withered plants with new ones. Musa Company suggests buying seasonal flowers in bloom and planting them for the occasion. If watered properly, they will be around for several months and add an extra layer of curb appeal. As much as it may make you proud, keep your yard neat and simple. At the point of buying a house, people are very financially-sensitive and they may get turned off by the potential cost of maintaining a rich garden.

The Details

These details include anything you find interesting. You can replace your old mailbox and buy a birdhouse. While you are trying to advertise as a low-maintenance neutral and loved-by-all property, you still need something to single you out from the crowd. A birdbath may be a good centerpiece for a flower bed or a patch of shrubs. Look into finding appropriate garden art. Use decorative solar lights alongside the path. If you do not have one, build or simply set up a picket fence. The fence could look booth romantic and stylish, but it will above all add the sense of privacy to the property and lots of curb appeal. While most new homeowners may be eager to get introduced to the neighborhood, they will still want to do it at their own pace.

Remember that you are not alone when selling a house, your realtor is in it as well. If you have any doubts as to what touch-ups you should do to increase the property’s value, ask them, they know the market. It is in both of your best interest for the property to reach its top price and be sold as fast as possible.

Source: The post Curb appeal – the best advertising tool of the trade is copied from AppraisalNewsCast, a real estate news blog.

 

Can A Business Serve A Community?

 

When someone starts a business, he may does it for many reasons but one of the most obvious reason is to earn a lot of money or in term of business, I can say to earn profit. Whatever that person does, he only focus to maximize his profit. But we should not forget that there are some businessmen who not only do business but also play their role to serve the community. This way they acknowledge the appreciation of the community which they receive from them. I am going to discuss a case study over here. This one company has done some inspiring acts and proved that business can be done along with serving the people with whom you are dealing with.

The company I am going to discuss as an example is CoesterVMS, an appraisal management company in US, owned by Brian Coester. CoesterVMS has done some remarkable and kind acts to serve people. One of them is Louisiana Disaster Relief during the flooding in the Gulf region of Louisiana which left many people homeless and with no access to essentials such as potable water. The company took the initiative under the supervision of Brian, and donated 144 cases of clean water to the Capital Area United Way in Baton Rouge.

Brian is a kind of person who never forgets his roots. That is why he kept the headquarter of the company in Rockville, Maryland. He thinks that education is a must for every child in United States and quality education is not possible without better learning environment. He and his company provided cleaning materials with over 90 volunteers to help makeover four schools in Montgomery County and four schools in Virginia.

An American without patriotism is no American at all. Brian and his CoesterVMS always feel proud of being American. They recently partnered with Alpine Cares to sponsor a charity golf tournament to raise money and awareness for these American heroes. This money will be used to provide amphibious wheelchairs to disabled veterans. There is no full stop here, not yet and I hope never will be. CoesterVMS joins hand with United States Marine Corps in Toys for Tots program no recent Christmas and distributed 100s of toys among needy kids who otherwise can not afford to have them.

These are few of the many acts, Cesters used to do time to time. Its the comapny's vision that never stop inspiring and never stop doing great things. Be the best whether as a businessman, an organization or a citizen. For more details about above mentioned charitable acts, visit CoesterVMS blog.

What Happens When Inventory Remains Low

The Washington D.C Metropolitan area, including Maryland and Northern Virginia, has experienced an increase in median sales price compared to this time last year. According to Brighton MLS Housing Data, the median sales price increased 1.1%, or $4,900, to $439,900 setting a new July record. The number of closed sales increased 2.2% to 5,157, new listings increased 0.9% to 6,282, and the number of active listings decreased 6.1% to 10,272 compared to July 2016. According to NVAR, the ratio between average sales price and original list price for this region is at 98%, which can be seen as a good indication of accurate pricing. While the market is performing well in many areas, the inventory shortage continues to be a problem. According to WTOP, the area saw a double-digit decline in active inventory compared to last year, most prominently in Prince George’s County (33% decline), Loudoun County (23% decline), and Prince William’s County (23% decline).

Expert Opinion of Wen Li

Wen Li has been an appraiser for the past 15 years, and began his career as a contractor. Wen has serviced the Maryland, Virginia, and Washington D.C area as both a certified appraiser and a licensed home inspector, and has become well versed in many different types of assignments over the years. From FHA 203K’s to pre-foreclosures, and from rural areas to suburban neighborhoods, Wen enjoys the diversity the market brings. According to Wen, the most important aspect of being an appraiser is constant education, and to maintain professionalism with every assignment.

Source: This article is the property of CoesterVMS.net which is the official blog of CoesterVMS.com. CoesterVMS is a well known appraisal management company in USA.

 

 

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