Posts Tagged ‘development’

A profitable area for real estate investment in Central America today is Costa Rica. With the upsurge of tourism in the country, Costa Rica is experiencing a strong and balanced economic boom. Throughout the county, there is an increase in the amount of real estate in Costa Rica including high class residential condominium projects, exclusive beachfront villas, and mushrooming serene upper class communities which are results of a stable and rapidly growing real estate market. Those who believed and invested their money particularly in the Costa Rica real estate market see constant yields and enormous profits.

One area that has grown immensely in Costa Rica’s real estate market is the province of Guanacaste. As a rising commercial hub, it represents some of the biggest real estate investments in all of Costa Rica. This increase is in result of a growth in tourism over recent years. A huge capital infused by hotel tycoons for the construction of a first class hotel edifice within the vicinity propelled the economic boosts for the province. Since this project was completed, the tourism and real estate property activity have become very active therefore creating a trend of new opportunities and giving confidence to other investors to place their money in the real estate market in this part of Costa Rica. The province had the largest gains in real estate investments in 2006.

With the increasing number of residential and commercial projects in this area of Costa Rica comes the creation of new services and enterprises in the country. Constructions of commercial centers, corporate business offices including law and accounting offices, real estate agencies, commercial banks, just to mention a few are some of the business and real estate investment opportunities born out of the continued growth of tourism in Costa Rica.

Costa Rica real estate is an excellent option for people seeking to invest in property or a retirement home due to the rising cost of real estate in Europe and North America. In comparison to European markets and particularly in the U.S., Costa Rica on the average is cheaper by 70% and recently, real estate values have been tripling in the last few years. Lately real estate investment advisors in Costa Rica disclosed that as more and more people discover Costa Rica, the potential for growth is tremendous.

With the signs of Costa Rica’s growing economy, stable real estate market, promising yields and absolute return of your investments, where you place your investments in Costa Rica should be the least of your worries. To capitalize on Costa Rica’s real estate investment opportunities, timing is now of the essence. By delaying any longer, you will feel like you are losing out on positive real estate investment opportunities.

For more resources about Costa Rica real estate or even about real estate Costa Rica and even about Canas Dulces Costa Rica real estate please review these links.

Visit: www.RealEstateDevelopmentClub.com Follow two budding real estate development students Kathy and Stuart Hardie as their property mentors Adrian and Amber Zenere, Architect Developers at http and founders of www.RealEstateDevelopmentClub.com help them to develop 4 townhouses in Mackay QLD Australia. This is video#1 in a series of videos that will show you step by step how Kathy and Stuart progress throughout their development. To view all videos in this series go to www.RealEstateDevelopmentClub.com

Developing a property can be a worthwhile endeavour. You can depend on it for your main source of income (as many others do) or to supplement your income. The task of buying a plot and building a house on it or buying an existing property and refurbishing it may appear simple especially if you’re just beginning to immerse yourself in the business of developing properties. Therefore, you’ll do well to take several pointers from the experts. As a novice to property development, you need to know a number of essential things that will greatly influence your success in the field.

Getting started in property development

Property development can include the process of sub-dividing land as well as renovating properties for resale. The method can also mean tearing down a property and rebuilding it. If you want to develop properties for a living, the first crucial thing you need to spend a lot of time on is doing your homework. Embarking on property development necessitates educating yourself, talking to the right people, observing what others before you have done and taking note of the locations where they’re developing properties. It’s also crucial that you are able to determine the type of property you want to invest in and to be certain of the market you’ll be targeting.

To get the most from your investment, be sure to buy properties below market value as this technique lets you earn profits faster. You can find BMV properties at auction where you can pick them up at prices 30% below their market valuation. To be sure, look for distressed sellers – or those who have an urgent need to sell due to reasons such as divorce and repossession – as these homeowners are willing to accept offers significantly lower than what their houses are truly worth.

Where to develop properties

In determining where to target your property development plans, research again plays a vital role in the achievement of success. Remember to look for an area undergoing a growth stage, where a population expansion is being experienced and a location where rental homes are in demand. A good location would be one that’s in close proximity to learning institutions, shops and public transportation.

Obtaining finance for your project

Depending on the endeavour, property development finance can be taken out as either a residential or commercial loan. Each will be based on your circumstances which will then determine the amount you’ll be paying in terms of interest on your finance. There are several factors that will be considered when deciding on the rate. One is your background and experience in developing properties. The rate will also be based on the industry sector at the time you applied for finance and the loan proposal you have forwarded to the lender. If you’re just starting out, banks will most likely require a higher level of security. This means you have to put more of your own funds into the development.

You can also obtain 100% property development finance for your project. There are three ways to achieve this. First is by finding a property below market value and sourcing a lender willing to provide finance against its real market value. Second is to provide additional security – which can be in the form of another property – to lenders who require it prior to providing 100% finance. Third is through gross development lending which involves providing a forecast for the end sales value of your project after it has completed the build phase.

Property development is a venture that requires time, patience, research and the ability to take calculated risks – more so if you intend to make it your main source of revenue. As long as you have thoroughly learned the ins and outs of property development, taking on these risks can be greatly superseded by the benefits you’ll be earning once you have become a successful property developer.

Buying a house in order to sell for a profit has become quite popular thanks to the plethora of property shows on British TV. Is it really as easy as they make it seem?

If you’re lucky you can make a profit on almost any property if you are willing to sit it out and wait for the market to rise around you. However if you’re after a quicker profit you need to be a little more cunning.

Buying a property to sell for a profit is quite achievable if you’re willing to put some time and effort into it. Firstly you will need to buy a property that sits at a price far below the average for the surrounding area. This will usually be a home in need of modernisation and this can vary from property that needs major structural repair to homes that simply need bringing up to date with new décor, fixtures and fittings. You should avoid the former if you intend to make a profit as this type of property can consume a budget surprisingly quickly.

You may find making use of a home improvements company cost effective on large scale projects, especially if you intend to manage the project whilst maintaining a full time job.

To make the process a little easier I’ve split it into 4 sections which will target the key areas of renovating a property for profit.

1. Finding a property to develop

Firstly you will need to find the property, you should pick a target area in which to search for property or you can simply look in the area surrounding your own home. If you can spot an area on the up in terms of popularity you may be able to take advantage of the ensuing rise in property prices.

A good way to pick up a bargain is to purchase the property at auction. You should be careful to at least view the property from the outside if possible before bidding to ensure you are not buying a major renovation project.

The best type of property to pick up is one that is simply in need of some modernisation and it can be quite easy to find homes that have been left with their original 60’s or 70’s décor (beware the dreaded artex plaster that can seemingly adorn every surface of these properties). You will usually need to replace the bathroom and kitchen fittings and bring the décor up to a more modern standard. You may find the layout slightly unusually in properties of this age and a small amount of rearranging may be required to increase functionality.

2. Planning

Once you have found and purchased the property you will need to put into place a plan of action before you start anything. If the project is a little more large scale you should employ an architect as you will usually find this service more than pays for itself.

You should always set aside a contingency fund as you never know what unexpected costs may arise.

You should set a budget for all areas of the renovation including; building works and materials, kitchen and bathrooms, decoration, carpets and flooring (an area many forget), garden (if applicable) and mortgage and solicitors costs.

Before deciding this you should work out how much you can sell the property for once completed and factor this into your estimations. How much profit you make depends on how much work you are willing to put into the property yourself.

Remember if you can add an extra bedroom or bathroom to a property you will usually increase the value of the property quite significantly. It is best to look at similar property in the area with these additions to see how much extra they are selling for before you make a decision. Adding a loft conversion can add up to 30% but can be almost as costly in some cases.

You may wish to enlist an advanced property solutions company to achieve a high quality of workmanship in key areas such as the kitchen and bathroom. Paying a little extra in the beginning may be quite cost effective in the long run if it helps to achieve that all important sale.

3. Keeping it simple

A key element of property developing is to keep it simple, you should never apply your own taste in décor to the property and it is important to remember not to get too emotionally attached to the property. This has been the downfall of many a new property developer. Remember, you want the property to appeal to a wide market so the décor should remain neutral but smart to allow the viewer to mentally place their own stamp upon it.

Decorating a room in a colour or style that you are fond of is certainly the wrong way to go. You may like it but will everyone else? It is best to keep reminding yourself that this is not your home. Be careful not to get carried away buying gadgets that you’ve always wanted like that multi-room sound system, you might think it’s brilliant but will it really add that much onto the properties price tag? The answer is usually no. You need to think of your potential purchaser, is the property ideal for a first time buyer, would it suit a young professional person or is it a large family property? You should tailor your décor and fittings to the correct market. What use will a 3 bedroom house with only a shower be to a family with three children? You need to keep your potential buyer in mind at all times.

4. Kitchens and bathrooms

The kitchen and bathrooms are a key selling point in any property, you can have the best finish possible but if you add a poorly fitted kitchen you will lose your potential buyer as soon as they’ve walked into the room.

The kitchen is the hub of most family homes; you should seek a professional finish with practicality being of the utmost importance. You don’t have to spend a lot of money to achieve a good finish, as long as your kitchen units and work surface are modern and neutral you should be fine.

You may find it more cost effective to bring in kitchen fitters to achieve the professional look. In the long run it can work out to your advantage and they will able to help you make the best use of the space you have.

This is also true of the bathroom; this room can make or break a sale if the buyer does not like the style or fittings. You should always try to keep the bathrooms in a property modern and neutral; any way of creating a sense of more space is always a good thing. An addition such as a separate shower unit can give the room that extra usability and appeal without compromising on too much space but should only be installed if the bathroom can easily accommodate it.

As a good rule of thumb you should have at least one bathroom for every three bedrooms in a property. If you can add an on-suite or cloaks room this will increase the price you can ask for the property but should not cause any rooms to become small and impractical.

If you follow the above advice you should find the process of renovating a property a little easier. Above all remember to keep things simple and maintain a neutral and modern décor to appeal to a wider range of buyers.

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Welcome to Overseas Property Haven

Overseas Property Haven is an independent property agent specialising in the overseas market and in particular the emerging markets that can provide a second home in paradise or become a long-term property investment for the future. Our aim is to offer a wide range of innovative projects and developments in excellent locations that enables clients to choose a property that best suits their requirements. We are committed to quality and excellence in all areas and most importantly dedicated to making sure that every aspect of our service concludes in each and every client choosing the bespoke property that not only best suits their lifestyle but will also result in achieving the best financial return on their property investment. With long-term strategic alliances in place we have access to over 20 years of experience in the international property market, offering reliability and security for your peace of mind. We would like to invite you to take this opportunity to look at our service in more detail and look forward to working with you in the very near future.

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As an emerging property market specialist offering a full range of property investment opportunities we understand that whether you are a first-time buyer or an existing owner looking to make additional purchases in new areas, taking the next step in realising your dream can be that of a somewhat daunting one. That’s why we here at Overseas Property Haven make it our business to make sure that you are guided through the complete buying process from start to finish and beyond. This means that as a client you are: · Given a full understanding of what to expect. · Offered carefully chosen locations where land ownership and planning permission is confirmed. · Offered the right properties for you. · Offered developments at a good price that are constructed to the highest build quality and aimed at giving you the best financial return on your property investment. · Given thorough, friendly advice and guidance throughout the whole process. · Provided with a complete bespoke service. · Offered a relationship with us that goes beyond the buying process to completion so that we can help you realise your dream. This all means that you can relax and know that when you have made your decision you know that it will be the right decision for you.

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