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How To Opportunely Buy A Property In Any Major City

Originally published on David Taran’s website.

If you are looking to buy a property in any major city, especially if you are investing, it’s crucial that you are mindful of how strong the area’s domestic and international demand curves are. The international demand curve is what will influence the rise in prices during positive periods.

When you find a city that you believe has a lot of potential, there are a few other best practices to keep in mind before you finalize the property you envision yourself buying, whether it be for yourself or for investment purposes. Ask yourself the following questions – and if you can confidently answer “yes” to all of these questions, the property you have been looking at may be the best option for you:

Is it in an up-and-coming area?

While “up-and-coming” can often be interpreted as meaning an “okay” neighborhood, there are definitely variations of what up-and-coming is defined as these days. If there are signs that the neighborhood is actively improving, you may want to hit the sweet spot of purchasing the property before the area is completely polished up. Not only will you reap monetary benefits, but you won’t have to worry about your property being vacant for long since homebuyers will flock to your area to find their next dream home.

Does the property have a feature that makes it unique?

Just like every city is unique, so is every home. One property might be situated ocean-front, while another may be surrounded by a park. Even owning a property in a certain location, like in San Francisco, can be seen as an advantage. For every property you look at, be mindful of its unique features that set it apart from other properties around the area.

Are there reputable schools near the property?

A renowned and highly reputable school district will also be something that homebuyers will look for before buying a property. Even if they don’t currently have kids, they will want to invest in a home to settle into so that their future children will have the opportunity to get a good education. It also allows for a higher selling price since it is such a hot commodity.

Have you searched for properties in an unknown part of the city?

If you can find a property in a major area, you have found the most opportune investment. However, it is almost impossible to purchase a property in a neighborhood that every individual constantly has their eyes on. Don’t fight for these properties. Instead, look for beautiful neighborhoods surrounding these more common areas and purchase a property there. The homebuyers looking for a place in one of the major cities will begin to peruse your area once they realize how limited their options are where they are currently looking.

Rent Out That Extra Space And Make More Money

Have you recently purchased a new home with a little extra space? Or have your children grown and you now some extra rooms available in your house? Don’t let that unused room go to waste – rent out the space on Airbnb and make some extra money!

How involved this process is will be completely up to you. You can choose to do it sporadically and, because it’s not your main source of income, you can be selective of the renters who you choose to let into your home.

If this is something you have given thought to in the past, here are some tips for making the most of your experience:

1. Hosting Etiquette

If you do pursue this route, there are some added responsibilities that you will take on as a result. The more exemplary Airbnb hosts aim to make their renter’s stay as special and personalized as possible. Introduce yourself, make sure the area they will be staying in is tidy and equipped with the necessary essentials, and be prepared with recommendations of restaurants and attractions they should visit during their stay. Other than that, you don’t have to be any more involved unless they would require something of you.

2. Be Transparent

This is your home, so be honest when you are posting your listing on Airbnb. Be transparent of exactly what you want from a guest who will be renting a portion of your home. If you want there to be a certain period of time from evening to morning where volumes should be kept at a minimum, for example, be sure to mention that. If you are committed to enforcing a variety of rules, you will weed out renters that may not be a good match for you just through being honest. If not, you risk having situations arise that cause conflict between you and the other person.

3. Research Your Renters

You have every right to be as selective as possible in your choices. Do some research into the guests who are interested in renting your space, including their previous stays and their profile details. You can also reach out and ask them their intentions during their stay to get a feel for whether or not it would be a good fit for you.

4. Rent During The Right Times

If you don’t want to rent out your space frequently, you can wait for busier periods. If you live in a more popular area, wait until there will be a special event near you to post your listing. You can even charge more during these times as well.

Whether you decide to rent infrequently or on a more regular basis, it is still a great source of additional income!

Originally published on David Taran’s Wordpress.

House Hunting On-The-Go: The Top Real Estate Apps

Instead of replying to texts or scrolling through Facebook while waiting in line at the grocery store or during your lunch break, use that time to productively search for your dream home. Now, you can take house hunting on-the-go with an endless surplus of real estate apps that you can download right to your smartphone.

These apps are all free to use, so don’t hesitate to go download-crazy and have as many tools available to you as possible to assist you in finding your new home. The real estate market is becoming more competitive, so having multiple outlets to search through will only benefit you in finding the right home for you before it’s taken off the market and is a missed opportunity.

Zillow

Zillow is one of the most downloaded real estate apps at the moment. It gives homebuyers a customized look into desired homes and locations. In addition to looking through high-quality images, you can also go on a virtual walkthrough of the home to see if it’s worth scheduling an in-person showing. This decreases the amount of time spent wasted at showings where the images don’t tell a true story of the home. You can also research a home’s surrounding area to find information that could affect your decision to buy, like neighborhood crime rates or the quality of the local school districts.

Redfin

One of the major benefits of Redfin, aside from its vast database of listings and detailed search capabilities, is its efficiency. The app updates its listings every fifteen minutes, which means that you won’t be unknowingly scrolling through older properties that may be close to selling. Redfin is also able to predict how fast a home is projected to be sold, so you will be able to prioritize the order of the homes you go to for showings.

Trulia

Trulia is another one of the most popular apps used by homebuyers and professionals. Trulia, like other real estate apps, offers personalized searches with detailed information about the area to help you make the most informed decision. But one of the areas where Trulia surpasses its competitors is with images. Instead of a map, you can browse through packages of photos that will show you different features you are interested in, like new, renovated kitchens or even fixer uppers for those who are interested in having control in the renovation process of their new home.

Homesnap

You are out driving around and a stunning home for sale catches your eye – how will you ever find that listing online? With Homesnap, you can take a picture of the home and learn more about it through the actual app to see if it’s a worthy candidate to schedule a showing!

If you are serious about finding your dream home, take full advantage of all of these tools that are available to you, whether you are at home or out and about.

Originally published on David Taran’s website.

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The colors here are very interesting. Multi layer use is neat as well.