Wednesday, February 7, 2007
by admin
If you are planning to build a new home in Lafayette or West Lafayette, you should take full advantage of the opportunity to design a home that meets your needs and includes all the amenities you want. Depending on your budget, some builders may or may not be able to accomodate your needs. Your Realtor can work with you one-on-one to make sure you get together with a builder who has the experience and resources necessary to make you happy. Create a professional-quality kitchen for the "gourmet cook" in the family, include space for a home office, and place the master suite at the opposite end of the house from the kids. Enjoy designing your dream home!
This may be the biggest project of your lifetime. Be certain to select a team of highly qualified professionals to work with you. Your home team should consist of a real estate salesperson, a builder, and a lender. Depending on the project, you may want to include an attorney and an architect as well. Your "Dream Team" will assure that all the legal requirements are met as your dream home is being built. Interview each member of your team and ask for references, in order to be confident you are hiring the best people for the job. You will be working closely with these professionals for many months, so choose your team carefully.
Your agent's job is to assist you with the entire project from beginning to end. We encourage you to call us anytime, even when you just have questions. We are always enthusiastic to talk about the business, and we know that you have a lot of important issues to consider. We're at your service...
Monday, February 5, 2007
by admin
Individuals who invest in Lafayette real estate are doing very well these days. The potential for income, appreciation and possible tax savings makes investment property especially attractive.
It is important for you to get professional advice before you decide to buy investment property. You may want to start with a personal financial advisor who can help you set your investment goals. Your real estate agent can help you select a competitively-priced property that meets these goals, and can answer questions about why a particular property would be a solid investment. What features would make it easy to rent? What kind of maintenance expenses are you likely to incur? What will your cash flow be, and how will the tax savings affect your bottom line? While agents cannot predict how much a particular property will appreciate, they can give you the history of price trends in the market area.
Although Lafayette and West Lafayette are not kings of appreciation in the real estate world, there are many other factors that affect growth. Investing in property in Lafayette has been attracting interest from all over the country. Don't miss out; give us a call anytime to make sure you get the whole picture!
Friday, February 2, 2007
by admin
As most people have noticed, Lafayette and West Lafayette have both seen much new construction in recent years. When building a home, you should have the soil on the construction site tested for plasticity to determine how it will change under different moisture conditions. Your agent knows who to call and how to make your purchase contingent on this type of issue. This is important because some soil is so "plastic" that (if the condition is not corrected) it can actually break concrete floors, crack the walls and destroy the foundation of your home. Highly plastic soil is sometimes referred to as "fat clay" that swells excessively and loses stability when it becomes wet. Fine-grained soils that contain a high percentage of clay are greatly affected by water, turning to mud when it rains and undergoing large volume changes-sometimes up to 40 or 50 percent, as the soil dries. Not only do clays swell and lose stability when they become wet, but they also retard the drainage of water. If plastic soil is found on your building site, the ground must be over-excavated and replaced with clean gravel. Homebuilders often choose not to include a basement, or to protect the basement walls from excess moisture by surrounding them with a layer of gravel. A fine-grained clay-filled soil with a high plasticity index may require considerable treatment, especially if used in a moist location.
Friday, February 2, 2007
by admin
When searching for your next home or investment property in Lafayette or West Lafayette, your agent can help you see that there are a lot of "diamonds in the rough" for sale. A property with incredible potential may be in a great location, have large sunny rooms and a big yard, but it may also have dated wall paper, worn carpeting, and uninspired bathrooms. If you can look beyond the surface, you may see a house that could be transformed by a little "elbow grease", paint, and new carpets.
A house that is structurally sound with all the systems in good condition may be only a few cosmetic repairs away from being fantastic! A home that does not show well is usually priced accordingly. If the price doesn't reflect the condition of the house, the seller may be more willing to negotiate than a seller who has made a considerable investment in preparing a home for the market.
Bring your imagination with you on your next house hunting trip! You may be pleasantly surprised to find a diamond in the rough.
Friday, February 2, 2007
by admin
Most buyers want a home that is in tip-top condition and ready for them to occupy, but many homes sell for bargain prices because they need work. Buyers love "fixer-uppers" for the obvious reasons: the affordable price and the satisfaction of remodeling the house to accommodate your tastes and needs.
Whether you are buying the property for yourself or as an investment, choose a house that is in a good location and structurally sound. It should be priced enough below market value (usually 25%) to allow plenty of room for a profitable re-sale after the work is completed. Lafayette and West Lafayette can be tricky markets for investing for many, that is why our team can work with you one-on-one to make sure you find the right neighborhood for you. We can also help you find the exact best property for your needs and negotiate for you to get you the best possible price.
It is important to educate yourself before taking on a fixer-upper project. Inexpensive cosmetic improvements often give the greatest return on your investment-- paint will increase the value three times for every dollar invested. Landscaping, carpeting, and light fixtures are also relatively inexpensive improvements. Try to avoid purchasing a house that needs expensive structural improvements such as a new roof, plumbing, wiring, or foundation repairs.
Remodeling a kitchen will rarely add more than the cost of the upgrade, but new appliances usually give a fine return. An extra bathroom is the best renovation from an investment point of view, often giving twice its cost in added value.
Friday, February 2, 2007
by admin
A colorful history can add significantly to the value of a home. Researching the provenance of a property you are interested in buying can be both interesting and ultimately profitable. The market value of a home will be greater if it was designed by a notable architect, built by a company with a reputation for the finest construction, or lived in by a celebrity who hosted famous guests.
Ask your real estate agent if there is any historical data of significance associated with the home, or if previous owners were VIPs. Note the names associated with the deed and title to the home, and look them up with the help of the local historical society. Consult the microfiche in newspaper archives for references to colorful details of the home's past. The county assessor's office may have records of the date the home was built, and building permits may reveal the name of the architect. When inspecting the home, search closets and attics carefully for hidden historical "treasures".
Buying an older home at a bargain price, then re-selling when it is renovated and restored can be an enjoyable and lucrative adventure.
Friday, February 2, 2007
by admin
This home is currently off the market. This home has just under 6000SF! It has many things to offer like 5 bedroom, 4.5 bathrooms, walkout basement, family room with built-ins, den/office with built-ins and bay window, split stairway, granite counter tops, Maple cabinets and 3 car garage. You don't want to miss this home.
Friday, February 2, 2007
by admin
This home is currently off the market. Great investment properties live in one side and rent the other side. Each unit has 3 bedrooms and 2 bathrooms! Fireplace in living room huge kitchen. There is a pond in the backyard with walking trails. Don't miss out on this great rental.
Monday, January 29, 2007
by admin
You see them on TV, standing next to a plane or a Ferrari, sharing tips about how they got rich buying real estate. It's simple to become a millionaire, and of course you don't need any money to put down, and credit is never an issue. These tips will work in any market, even right here in Lafayette. Hey, it worked for them, so why not you?
Getting rich overnight in real estate doesn't happen that often. For every story of overnight wealth, there are thousands of stories of fortunes lost by less than experienced investors. Unfortunately, many of the stories of loss come from the same people who struck it rich just months before! The bottom line is that we help both new and experienced investors put their money to good use every day, and some of those investors are quite wealthy, but building wealth in real estate is the same as in any other industry--it is a process.
You can contact us anytime for advice on investing in real estate in our area. The Lafayette, West Lafayette and Purdue markets offer some fantastic opportunities when you're ready!
Monday, January 29, 2007
by admin
As a prospective real estate investor, you can choose from two main approaches. One, holding a property until it increases in value, likely renting in in the meantime, or two, the very different approach of "flipping" - reselling very soon after making some improvements that add value. If you plan on holding, keep these factors in mind when searching for the right investment property.
Consider looking for a house or apartment unit that is close to where you live, so inspecting the property will be simple. Choose a property where there is clear potential for future development, and you will benefit in the long run. For example, investment property goes up in value corresponding to its income...is there space to add storage facilities? Is there room to add washer and dryer units? Is the potential property currently a two unit, but you see a simple way to make a third or fourth unit? These types of improvments increase income, and in turn will raise the value of your investment property. If you have the choice of either buying a newly built or recently remodeled home or a less expensive house in the same neighborhood that needs a cosmetic makeover, buy the bargain property and upgrade it for a better long-term return on your investment.
