Posts tagged: real estates

I’m asked the question at least once a month: Why are there so many houses in Oaxaca started and apparently not finished? It’s one of the most remarkable sights in this southern Mexico colonial city, as well as in the towns on its outskirts and further beyond. The phenomenon is clearly visible while traversing connecting highways throughout the central valleys.

The brickwork on homes is completed, but there are no panes on the windows, and it otherwise appears obvious that no one is living in these cash cows, edifices which have obviously had a considerable amount invested in them. And even if the homes are finished, and inhabited, the rebar still extends skyward from the roofs. Why is it left there, an eyesore by western standards?

It is a fallacy that leaving the reinforced steel bars intact on the top of your roof signifies that your home is not finished and thus you do not have to pay realty taxes. In fact, at least in the city of Oaxaca and suburbs, in the early 2000s tax reform began to be implemented, whereby you became assessed based on both your land, and your livable space, at different rates. Curiously any structure with a concrete roof was considered livable space, and thus taxed at the higher rate. Even a carport used only for vehicles. You see, many Oaxacans tile their carports and use them more for living and entertaining, than for parking vehicles, and some residents don’t even have cars or trucks. Many residents get around the regulation by constructing a ceiling of river reed known as carrizo, thereby keeping their vehicles shaded and not having to pay the increased rate. In our case, our concrete roof is used only for our vehicles, so we had to negotiate the issue with the tax department.

Because many homeowners are of modest means, you are given the option of having a government authorized architect come to your home to do the measurements with a view to then calculating the increase, or, defer the process. If selecting the latter, the new rate only becomes effective upon your death, or sale of the home, with penalties, interest and back taxes passed on to your heirs or purchasers. Let the negotiations begin! We elected to take the bull by the horns, have the reassessment done, and immediately began paying about ten times more than we had previously been paying, still a bargain relative to what we were paying as homeowners in Toronto, even without the bonus of now being taxed at the seniors’ rate (over 60), that is, 50% of the regular rate of taxation for a principal residence. At the end of the day our daughter will inherit will a bit less to tax the transition.

Then why the rebar? Upon their demise and earlier, most Oaxacans have little to offer their children other than their homes, or better put where their existing homes are situate. Thus, there is always in contemplation building a second or a third level onto a home, when funds become available at a snail’s pace, and when the time it right. If you cut off the extending rebar upon completion of your initial construction, and later decide to build another level, it’s more costly; rather than simply tie into the old rebar, you have to break concrete to access the bare rebar used in earlier construction. There is a different sense of aesthetics, or, more likely, a priority placed upon economics. Hence it is prudent to leave the rebar.

Returning to all those partially finished homes, it all relates back to the cost of borrowing in Mexico, and the fact that Oaxaca is one of the poorest states in the country with most residents lacking savings. Only the non-astute or the very wealthy have mortgages (for that matter, buy anything on credit). I’ve seen interest rates as low as 9% and as high as 65%, for secured loans. Regarding the latter, a couple of years ago I was contemplating buying a scooter for our favourite god-daughter. Buying on credit would have cost us 65% per annum.

So, the norm is to buy when you have cash on hand. This means if you want to build on a piece of land, you buy 1,000 bricks, then another thousand, then block, then rebar, and then cement. You hire your bricklayers, and your plumber who roughs in the below-ground installations. You build, then save, then build more. You can leave your “obra negra” as it’s termed, indefinitely, without concern for theft because there is nothing to steal.

You can then have your electrician break the interior concrete, brick and block, to install the wire and connections for switches and the like. Once those installations and the rest of the home have been covered with concrete, again your future abode is secure from vandalism and theft (yes acknowledging that copper can still be accessed, yet it’s rather difficult with cement covering it). That’s your “obra gris.” It, as well, can then be left, unattended, indefinitely.

The foregoing are the two most common completed stages of home construction one encounters driving the roads and highways around the city of Oaxaca, its central valleys and beyond. It all makes economic sense while at the same time affords the homeowner-in-progress a reasonable degree of security. While delaying home completion, it avoids being saddled with prohibitive rates of mortgage interest.

Family members often provide some of the labour involved in advancing with these two stages of construction. However, home completion often requires more specialized trades, and along with that much more significant financial outlay. Thus, we find many homes at the “obra gris” stage, remaining there for years if not a decade or longer.

The final construction phase involves finishes such as more detailed and finer tile work, painting, door and window frames and glasswork, electrical fixtures and plumbing installations, and so on. Especially regarding the latter, one generally does not leave a partially completed home unattended at this state of construction, and so most often a night watchman or “velador” will be hired to ensure security. Only then is the family ready to move in, and the home from all outward appearances will appear completed – with rebar nevertheless extended skyward.

So just remember, an unfinished home is likely a sign of a hard-working family struggling to get it all together, for itself and its individual members, without yielding to the pressure to borrow at an often exorbitant rate of interest.

Purchasing a foreclosure home may appear to be a deal of a lifetime. What could be better than buying a home for a portion of the market value? Many individuals believe that some of these homes may even be too good to believe. Although these homes may appear to be the deal of a lifetime, there are many underground hazards in purchasing these homes that have been disclosed by a foreclosure defense that many individuals are not aware of. When pursuing the course of purchasing your new home, be aware to look out for some of the obscure costs.

• Property Destruction

Although individuals have lived in that home, generally when they have lost their home they purposely destroy their home. Some individuals may do this out of anger and frustration and others because of carelessness once they recognize their home is going to be lost after so many missed mortgage payments.

• No Upkeep

Generally speaking, if the homeowner was unable to manage their mortgage payments, they usually did not have the financial stability to perform routine maintenance on the home.

• Possibility of Uncleanness

Any property that is left uninhabited for a momentous period of time has the possibility of being unclean. This happens either from the prior homeowners or normal depreciation to the property due to the fact that is was left unoccupied with nobody to look after the home.

• Unwanted Renovations

There are times in which the homeowners prior to losing their home were renovating a part of the home, which then causes you to be stuck with the project that is half finished.

• No Electricity

If the prior homeowners could not afford to pay the mortgage there is a high probability that the electricity will also be unavailable, making it difficult for you to view the property in which you are purchasing.

• Personal Belongings Left Behind

Many individuals leave personal belongings behind due to the fact that they do not have a location to store them, or have been locked out of the house prior to having the ability to retrieve their items.

• No Disclosure

Due to the fact that no individual has lived in that home because the owner is a bank, they may are unaware of the problems that may be associated with the home and have zero obligation to discuss them with you regardless if they did have any knowledge on the issues.

• Liens and Judgments

There are times where the property is associated with titles overburdened by judgments or liens that you may have to pay off in order to close the deal.

Although purchasing a foreclosed home may be a great way to save money, it is important to look at all of the possible costs prior to making the final decision. Calculate all of the expenses you may be facing in order to determine if you are actually saving rather than costing you.

Rustic country decor and how to decorate cottage style homes are extensions of American country style decorating. In addition, traditions are borrowed from French, English and some Swedish country looks. Rustic country decor can be defined as coarse, charmingly simple, unfussy, unfinished and yet with endearing qualities. Rustic country decorating includes the use of natural woods, aged surfaces, rough finishes and simple lines. Cottage style homes are comfortable, modest, quaint homes that can be made of thick stone or log wood.

Floors in rustic country decor and cottage style homes are made with stone or wood materials. Wooden floors were traditionally constructed with boards that were bare and simply waxed and hand-polished (high-gloss varnishes did not exist). Sometimes the boards were painted with light colors. If you like floor coverings, use oriental rugs and throws for visual warmth and color. Rustic country decor is about handcrafted objects, simplicity, furnishings that you enjoy and connecting back to nature.

Rustic cottage furniture is commonly made with pine and perhaps painted with hand-painted designs such as flowers, birds, animals, country scenery or leaves. Use ladderback chairs, rocking chairs, benches, wicker furniture and Windsor chairs. A large rectangular table made of pine is a good option for your kitchen or dining room table. To give your furniture a rustic look, brush a coat of paint on the furniture piece, then rub most of the paint off. After it dries, apply wood stain unevenly for an older weathered appearance. It will be perfect and rustic looking!

Baskets can be used to store wood, pine cones, flowers, plants and needlework. Brass candle holders, oil or kerosene lamps, sconces, hurricane lamps, tin lanterns, recessed ceiling fixtures or a vintage wrought-iron or metal chandelier provide successful lighting for rustic country decor and cottage style homes. Colors used in rustic country decor or cottage style homes are neutral tones ranging from white to bone, earth tones, red barn, blues and greens.

For rustic country decor in the kitchen, use open shelves, hutches, buffets, plate racks and cupboards for storage. Often, country kitchen storage is crammed with stoneware pots, plain glazed earthenware and glass jars. Kitchen pots should be made of copper, steel or cast iron — cookware tends to be large and plain. Use open shelving in the rustic country kitchen to display plates, dishes and dinnerware collections. Natural woods, light colors and bright fabrics work great for window treatments. Adding a rustic butcher block island creates a wonderful visual effect as well as provides useful functionality.

A rustic country decor bathroom has neutral tones or soft colored walls, antique-looking lighting, and wooden antiques or antique reproduction cabinets and vanity. Knowing how to decorate cottage style homes and bathrooms can result in creating a calm and elegant atmosphere. Clawfoot tubs, pedestal sinks, country style antique brass faucets and old-fashioned country cabinets provide the kind of atmosphere that makes you want to spend time there. Plain white towels are recommended instead of patterned or bright modern patterns. Use wicker or wire baskets to keep your sponges, loofas and shampoos handy near the tub or shower.

Understanding how to decorate cottage style homes means including items like quilts, antique furniture or reproductions, flea-market pieces, trunks, chests, armoires, stenciling, wallpaper, adirondack chairs, flower wreaths and bistro chairs. These types of elements give cottage style homes the kind of rustic country decor that is simpler, very personal and warmly inviting.

Whether in a seaside setting, an urban environment, a countryside location or a wooded mountain retreat, cottage style homes are cozy and unassuming, combining the past with the present. Read all you can find and learn what creating the rustic country cottage means to you no matter where it’s located. Enjoy expressing your personality and showing what the definition of home means to you.

Copyright 2005 InfoSearch Publishing

For people who maybe can’t afford a second home or the many thousands of dollars it often takes to buy a vacation home, there are options for extraordinary accommodations and vacation experience all around the world anyways. Vacation homes are very cool and can afford a lot of different experiences and opportunities, but they aren’t for everyone. Here are a few alternatives to vacation homes to consider if you are looking around for a different kind of vacation experience.

1. Shares of hotels and resorts. This is a new idea called fractional ownership, which means people purchase (for a range of prices) a fraction of a property in exchange for being able to stay there for a few weeks a year. Much like a timeshare- which we’ll touch on later- this gives you the chance to take advantage of the resort experience with the benefits of being able to show up when you want, get the room you want, and enjoy the pampering. The perks of fractional ownership are that you get all the fun parts of owning a second home without having to pay all the costs year after year. This eliminates mortgage payments and allows you to live without the fear of a real estate market slump.

2. Vacation clubs. Vacation clubs are being marketed as the next big thing in vacation experiences. For a hefty fee certain popular brands or companies offer a vacation experience to exclusive customers. While they aren’t super common yet vacation clubs often require reservations, and you might not make the cut. If you do, however, you can take advantage of the amazing properties, excursions and amenities that come from being in the club. While the fees can be expensive it still might be less pricy than owning a vacation home, depending on the location you want to be in.

3. Timeshares. Often associated with condos in Hawaii or Mexico, timeshares are like fractional buying opportunities. You pay for a certain amount of the cost of maintaining an apartment, home or condo in a location and are then able to book it for a certain amount of time throughout the year when you can take a vacation and live in the property like it is your second home. You share the costs of the property with other people who get to visit the property just like you do, at different times of the year. This can work well for participants and landlords, except when the housing market tanks or people realize they can’t keep buying expensive airplane tickets.

4. Vacation rentals. Companies such as AirBnB and others are making a splash with apartment, home and condo rentals around the world. Vacationers can go on the website and pick a property they want to stay in, pay the fee and show up to their home away from home in whatever location they choose. The benefits of this are that it is definitely cheaper than many other options including owning a vacation home, you still have the benefits of your own private space, and you can move around quickly and easily from city to city.

Manufactured homes, also known as mobile homes, are factory-produced homes that can be transported anywhere and installed at a selected site with or without a permanent foundation. Manufactured homes have revolutionized the American housing market by providing affordability and flexibility to potential buyers.

During the past few years, nearly 1 out of 3 new homes sold has been a manufactured home. With increasing home costs, many buyers prefer manufactured homes, which meet basic housing needs at a lower price. Instead of constructing a house in 3 to 5 months from scratch, you can get a ready home within 5 to 10 days. Today, manufactured homes are spacious, well-designed and affordable. The main advantage is that these homes are thoroughly inspected to meet the construction standards set by the U.S. Department of Housing and Urban Development for the design, energy efficiency, durability, strength, and fire resistance protocols.

Manufactured home dealers provide manufactured homes that fit almost everyone?s tastes and pocket. Some are designed for those on a limited budget. Other models offer luxurious features at a higher price. The home can be a single-section unit or a large multi-section unit. You have the option of choosing from a wide variety of home styles. There are more than a hundred and fifty companies dealing with manufactured homes and more than four hundred factories located throughout the United States which manufacture them.

When buying a manufactured home, you have to keep the prices in mind. The sales price for a new manufactured home ranges from under $25,000 for a single-section home with basic features to prices in excess of $100,000 for a deluxe multi-section home. Depending on the location and excluding the cost of land, construction cost per square foot for a new manufactured home averages anywhere from 10 to 35 percent less than a comparable site-built home. A manufactured home is the answer if you are looking for a first home, a larger home for your growing family, or the perfect retirement home.

New luxury homes for sale may not be for everyone, but many people continue to strive for more spacious and more lavish homes. Not even the economic recession stopped homebuyers from wanting to go big. This is why there are many new luxury home builders offering roomy custom-built homes for competitive prices.

The definition of luxury real estate is changing. Back in the day, a luxury home or real estate is a property priced at the upper 5-10% of the real estate market. This may be true today, as not everyone can afford deluxe cottages and extravagant mansions that new luxury home builders create. These builders simply extended their services to accommodate the growing demand for bigger homes. Today, they offer to build quality custom single-family homes and townhomes as well.

New luxury homes for sale are perfect for those who can afford it because you will be getting only the highest quality. Most luxury home builders have their own in-house architect that design energy-efficient yet still comfortable houses. They also offer extensive warranty for each property they build. They will conduct repairs for free during the first year, fix mechanical systems such as electrical wiring and plumbing the next, and offer warranty for structural elements by the tenth year.

New luxury home builders follow a strict process when offering their services to homebuyers. Familiarize yourself with some of the basic steps to acquiring your own lavish property.

Selection and Financing. The first step to finding any home is shopping around for builders and their designs. You will choose your own site and floor plan at the beginning. Their in-house architects will then ask about the customizations you want. You will then discuss financing options. Many builders offer their own in-house mortgage, making their company a one-stop shop for homebuyers.

Pre-construction Planning. Your builder will assign a project manager who will guide you through the entire process. Together, you will create a schedule and set different milestones. You will use these milestones later on to gauge whether or not the construction is going on time. They will ask you to review your selections one final time before beginning the building process. Part of the pre-construction planning is taking you to the site. They will explain your layout and give you an initial idea of how big your luxury house will be.

Pre-Drywall Inspection. You will not have to be there for the inspections the law requires, but builders will ask you to inspect the framing before they install the drywall and any mechanical systems. You will see the quality of construction and get a feel of your home for the first time. Visiting the site at this stage of construction lets you adjust the design and make changes easily.

Pre-Settlement Walkthrough and Delivery. The next time you will see your home is when it is complete. Your project manager will familiarize you on the features of your new home, as well as address any questions and issues you may raise. You can move into your new home after the closing process with your contractors.

Post-settlement reviews. Respected home builders will not stop their service after they finish building your new abode. They will visit after a specific period of time has passed and check how you are settling in. You can ask them any questions regarding your home’s construction and features, which they will address promptly.

As a matter of fact, the services offered by various funeral homes do not differ much from each other. However, the level and quality of services may differ greatly. How the funerals are managed by the provider, largely depends on the level of services offered by them. So, you need to be careful while choosing a funeral service.

Generally, services offered also depend on the plans you choose as there are numerous funeral plans offered by service providers.

Burial service management incorporates numerous assignments which require in-depth details while making arrangements. The funeral director will lease or talk to people who’ll be involved in your burial or cremation, for instance, cemetery, religious figure and morgue.

As part of the service, a chapel can be presented, but many people choose the chapel of either their own choice or that of the deceased.

A private visiting room is offered by funeral services, where people can pay their last respects to the deceased. This memorial service generally happens a few days before the burial service. However, in some situations, this is not always conceivable, for instance, if the family members of the deceased person are coming from far away.

Funeral directors will also provide services of embalming the deceased, which allows the deceased to be preserved, if an open casket is requested. The deceased’s blood is replaced with dye and chemicals in the embalming process. An open casket is important as it provides the grieving friends and family members a chance to see the deceased before finally laying them to rest. The private room is usually used for such visits.

Cremation is a type of a funeral service, which is also provided by almost every service provider, if asked for. Majority of the funeral homes has a crematorium or they have a partnership with a crematorium. The funeral home will perform the memorial service in the crematorium, if this is preferred to a chapel.

Numerous burial service homes offer another memorial service known as Prepaid Funeral. In Prepaid Funeral, you can visit the burial service home before death and examine your needs and requirements that you’ll want after your death. Prepaid Funeral is turning out to be a popular option as it gives individuals the genuine peace that their friends and family won’t need to bear the weight of arranging their funeral.

You will discover that there are Prepaid Funeral plans to choose from. It totally your decision to choose from the various Funeral plan price and funeral service provider will only execute the services it has offered. You can pick the plan that suits your requirements and budget. We all know that the price of funeral is increasing at a rapid speed. So, Prepaid Funeral plans come in a range of prices, which can be afforded by people of every financial background.

Many people think that modular homes are little more than cookie-cutter manufactured mobile homes. But this assumption, according to Grant Smereczynsky, CEO of Building Systems Network, could not be further from the truth. As Smereczynsky explains, modular homes are very poorly understood by the general public.

Industrialized, or systems-built, homes are constructed under high quality building conditions within a controlled environment and at fractions of the time and cost required to construct traditional site-built homes.

Custom built modular homes speak legions for the systems built modular home industry, because they demonstrate how architects and builders are thinking outside the box to meet the public need for quality built, affordable homes.

Highly skilled laborers construct sections of the homes, which are transported to the site where they are put together to build a home. The number one benefit of modular homes is the speed of construction. It takes eight days for custom home to go from start at the factory to delivery at the site. This method makes it possible for popular shows such as Extreme Home Makeover to construct brand new homes in under a week.

Even though these homes save on time and labor costs, they use ten to fifteen percent more construction materials because the walls, joints, framework and all other components of the house are strengthened beyond the levels of a traditional site home. This provides the biggest benefit to modular homebuyers – cost savings.

Since modular home builders provide 80 to 85 percent of the home, the buyer avoids the risk of giving money to a builder and not having the home built to their specifications, or of having their price inflated by numerous change orders. By cutting out most of the middlemen, modular homebuilders can provide quality, luxury, custom products at a fraction of the cost available through traditional builders.

“Don’t let these innovative designs and new home building technologies pass you by,” Smereczynsky says. “Take advantage of benefits and opportunities available to home buyers of affordable luxury and custom dream homes that modular homes and modular home builders provide.”

If you own an older motor home you may have problems finding parts because those models are no longer need built or the manufacturer has gone out of business. Even if you own a new recreational vehicle you may want to find stronger and sturdier parts that are no longer offered on the newer motor homes, but they used to be used on other older motor home series. This is when a good motor home junkyard comes in handy.

Believe it or not there are a lot of motor home junkyards in the United States and they make great places to get parts. Some recreational vehicle junkyards have motor homes that are over 30 years old and that means you can find nearly any part you need. The junkyards are well known to those RV repair shops, which will use them to get parts when they cannot find a part in the catalog they need to repair someone’s motor home or recreational vehicle.

There are very large recreational vehicle and motor home junkyards in 13 states and many junkyards do have motor homes in them although they are not specializing in only recreational vehicles. If you need an obscure part for your motor home it makes sense to cruise the junkyards.

I have only been to two RV junkyards. But in each case I had found things that were very valuable and cost very little. Parts, which were stronger than anything you see in the market today. Things I could not get anywhere else and they were not listed in any catalog. Perhaps you might consider this in 2006 and help the world recycle all those old RVs.

1. “Necessary Repairs” Increase Home Value– Generally you can expect to see a rise in the value of your home when you do things like replace the air conditioning unit, furnace, or roof. You will get a higher offer on your house with these things than without. So while the idea of buying a home with an old hot water heater that you’ll need to replace seems like a buzz kill, you’ll pay less than if they had upgraded it for you (always use this as negotiating power! either request they do it, or factor it in to what the house is worth). This combined can be a great way to buy a nice house for a great deal.

2. “No Regret” Design Changes- That parquet floor has been there long enough to push aside any regret for ripping it out and replacing it. Those 80’s tile, feel free to rip them out. Trends expire and it’s better to rip out tile that’s past it’s prime than brand new tile that’s hardly seen use. And you’re free to replace it with whatever you want, whereas builders normally have a selection you have to choose from.

3. “Old House” Charm- It’s more expensive to buy “charming” details new. Much like the old tile and parquet flooring, the crown molding and carved wood details you’ll oftentimes find in older homes has “paid it’s dues” and is cheaper to buy in that older home. You’ll find decorating with these details to be a treat as they’re visually interesting and beautiful.

4. Cheaper To Buy Upfront- Older homes can be cheaper to buy up front for the same square footage in the same area. This has a lot to do with the labor costs that go into a new construction. You’re paying people’s wages when you buy those homes whereas you’re just buying the value of the property from a seller of an older home.

5. Established Neighbourhoods- Older homes are in older neighbourhoods and this can mean beautiful shade providing mature trees, grass covered yards, parks and more. Drive through an older neighbourhood and you’ll see the benefits with mature landscaping and variety of people living there.

6. Remodelling Potential- Because the homes are often cheaper, the lots normally bigger, and the homes not as close together, there’s normally a lot of room to remodel an older home. Go ahead and pair that with #2 and you’re in it to win it, right?

7. Energy Efficiency- Yes! Shockingly, I’m going to tell you that buying an older home can benefit your bank account. Smaller homes are less expensive to heat and cool. As long as you have or upgrade existing insulating features, the smaller rooms and lower ceilings are going to be noticeably cheaper to keep comfortable. And on the other end of things, older homes were not equipped with modern cooling and heating so they were built with features that kept it cooler (without electricity, yay lower electricity bills!)

8. Problems already Discovered & Addressed- Provided previous owners weren’t total D-bags, any problems that have risen from the homes construction will have already been addressed. Things like settling have likely already occurred (true story- my parent’s bought new construction and they have huge patches around the doorways of one side of their house from where they had cracks fixed from the new house settling).

9. Variety in Choices/Styles/Designs/Layouts- When you buy from a builder, you get options. These options are uniform in choice with all the other homes the builder is selling. When you buy in an older neighbourhood, you get variety in styles, choices, and finishes to choose from.

10. Location- Older homes are normally located closer to desirable parts of the city. My older home is located near the beach, other older homes in our city are located in beautiful neighbourhoods right next to downtown. The newer construction homes are normally built on old acreage full of trees and are pretty out of the way (and if you want to be out of the way, charming old farmhouses are normally out there!)

11. Quicker Move In- It makes sense that a house already built would be quicker to move into than one that doesn’t exist yet, right?

For More Information – Mantri Developers