Home Staging – Can It Make Your Property Sell Faster?

When someone comes to your home for a viewing, they make snap decisions in seconds, and even the smallest thing can put them off. Unfortunately, most homes for sale are quite lived in, whereas buyers want sleek show homes that don’t require any improvement. Luckily, there are things you can do to improve your home, and one way to do this is cheaply is through home staging.

What is home staging?

Home staging basically refers to setting up your home so it’s more appealing to buyers. It means removing things that are too personal, and creating a calm, serene environment that will appeal to visitors.

Remove clutter

Removing clutter is the number one rule for house staging, but it’s important not to go too far. Homes that have been completely decluttered look bare, and make it difficult to imagine what the place will look like when they move in. Don’t make the home too depersonalised. A few family photos are nice – dusty knick knacks are not.

Use appropriate furniture

Oversized or unsuitable furniture can make a room look smaller. Also, if you’ve got a spare room and there’s no bed in there, then it’s hard for people to imagine what the room will be like once furniture is added. If you don’t have the right furniture, then consider borrowing some, or even looking for some second hand bargains. You can always sell them on once the house is sold.

Use space effectively

Although you may have plenty of space, and have moved your furniture to suit your space, you may not be using the room effectively. Don’t be afraid to use the middle of the room when it comes to coffee tables and rugs. This draws focus to the centre of the room, and can actually make it feel more spacious.

A contemporary way to style your home is to pull some of the furniture away from the walls. Again, this creates a modern, spacious look, especially in large living areas.


Add natural light

If you have large furniture blocking the windows, or are using unsuitable window coverings then you may find there’s a lack of natural light. Unfortunately, there’s not always a lot you can do about these sorts of rooms, but luckily there are cash buyers who’ll buy any house quickly, no matter what its condition. If you don’t want to go this route, then consider adding a skylight or roof lantern to improve a room.

Make it cosy

Rooms that are staged should look pleasant and inviting. Add some colourful cushions, make sure beds are made up with blankets draped over the top, and add some finishing touches such as a vase of fresh flowers. This will make the house look inviting, as well as well looked after.

Staging your home doesn’t have to cost a fortune. It’s all about using what you already have and making the most of it. You can then show your home in its best possible light, and impress any potential buyers.

source: 20smoney.com

Searching for your first home: Rent or buy?

MANILA - Choosing your first home is likely to be one of the biggest financial decisions that you will make. As with all purchases, you can either feel you made the right choice, or regret the investment.

This is why some prefer to initially rent or lease, and then decide whether the neighborhood is right for them. But they could also miss out on the opportunity to buy when the price is more affordable.

So should you rent or buy your first home? The quick answer to this question is it depends. The decision to buy or rent depends on so many factors that varies per individual: your lifestyle, finances, future plans, and even the current real estate market.

What is right for one person may not be suitable for another. For instance, a newly married couple whose career plans include moving abroad would be in a totally different position from a large family with an entrenched business in a specific location.

There are pros and cons for each option. Here’s a run-down of the upsides and downside of buying and renting.

Buying a house means being able to hold on to a hard asset that almost always appreciates in value.

It also lets you and your family establish roots in the community.

Plus it allows you to plan out your life--where your kids will study, where you will work--for the long term.

But expect this to put a dent on your cash flow, since you will need to put in equity, which could go anywhere from 20-60% of the property value.

It also means paying real estate taxes and maintenance costs.

Should you need to dispose of it at some point, you will find this may not always be easy, and you could be at the mercy of market conditions.

Renting is easier on the pocket--you only need to worry about a downpayment and security deposit.

It also gives you a measure of flexibility. If you’re unhappy with the place or your landlord, you can simply end your contract.

 It also means not having to worry about taxes and maintenance costs, which are the landlord’s concerns.

However, property rentals rise, and it means you have to be ready to deal with increasing rental fees, depending on market conditions.

Rent is an outright monthly expense, and does not enhance your asset base.

You have to live with the terms set by the landlord. For instance, the landlord may prohibit you from keeping pets, or may not allow you to drill holes for your pictures on walls.

Still not decided? Look at each of these five factors for more help:

1. Your current life stage and lifestyle. How old are you? The younger you are, it’s more likely that your options are wide open. Career-wise, there’s a possibility of finding a new job, within or outside the city you are now in, which means renting might be better for you. Are you single or do you have a growing family that needs more space? If it’s the latter, consider how owning or renting a home affects their lifestyle.

2. Your future plans. Do you have any plans of moving abroad? If so, then you might be better off renting a starter home. Otherwise, you will have to deal with selling off your home when you leave the country. This may not come easy when you’re about to migrate, and this may not even be at a price acceptable to you. Don’t forget your significant other, if you have one. If you purchase that starter home, do you think your prospective spouse, whose parents live far away, would be happy to move there?

3. Your financial status. Can you afford to pay the down payment for the starter home that you want? If you are thinking of taking out a loan for this home, do you have enough income to support the monthly payments? Note that your expenses as a homeowner will not be limited to just the mortgage payments, but will also include maintenance costs, real estate taxes, and in some cases, condominium dues and homeowner’s fees.

4. The neighborhood where the property is located. It’s been said that there are three things to consider when you buy property, that’s location, location and location. Let’s say you have identified the neighborhood where you intend to stay for the medium term. Evaluate the neighborhood and determine if it has good potential to become a growth center. What are planned developments being undertaken by the government and other private companies in the area? If the area’s potentials look promising, and if your finances permit, then it may be worth purchasing your starter home here. On the other hand, if the neighborhood is riddled with problems such as flooding, security issues, and urban blight, you may wish to simply rent a place for the time being.

5. The current real estate market. Don’t forget to consider the current real estate market before deciding if you would purchase or just rent a property. It is always better to buy when it is a buyer’s market than a seller’s market. Plus, look at interest rates if you intend to take out a loan for this purpose. The lower the rates, the cheaper it is to buy a starter home.

source: www.abs-cbnnews.com

'King' James puts $17M Miami palace up for sale

MIAMI - Got a spare $17 million knocking about? NBA star Lebron James has put his waterfront Miami mansion -- complete with sommelier's wine cellar and custom theater -- up for sale, just months after confirming his decision to return to the Cleveland Cavaliers.

The palatial spread in the exclusive Coconut Grove neighborhood, billed by realtors as the "most opulent estate in Miami," was bought by the basketball superstar for a cool $9 million in 2010.

However, with James calling time on four glory-laden years with the Miami Heat in July, the mansion is now up for sale -- at nearly double the price.

The listing from Opulence International Realty said the property also includes a chef's kitchen, office, generator, guest home and private sun deck.

The property includes six bedrooms, eight bathrooms and various swimming pools.

James, 29, won two NBA championships during his stint at the Heat.

source: www.abs-cbnnews.com

Sneak peek: Daniel Padilla's 'dream house'

MANILA -- Take a peek into the house of teen star Daniel Padilla, which he gave as a gift to his mother, Karla Estrada.

The two-storey house has eight bedrooms, and sports a Mediterranean-inspired interior design. The furniture and decor are predominantly earth-toned.

Padilla said he opted to buy a house for his family so that they won't have to feel insecure in a rented house. -- Rated K, ABS-CBN, June 29, 2014

Watch the full episode in iWant TV or TFC

source: www.abs-cbnnews.com

How to protect your condo from the 'unforeseen'

MANILA -- Owning a house or a condominium unit seems to be a growing trend nowadays amid the low interest rates but how does one protect his investment in properties with the Philippines attracting a big number of typhoons yearly?

It's simple: have your property covered by insurance.

"Non-life insurance actually provides protection against financial loss when something unforeseen happens," Perpetua Cutiongco, business director at BPI/MS Insurance Corp., told ANC's On The Money.

These "unforeseen" incidents, she said, pertain to fire, typhoon, flood, and other accidents that damage the property.

"I think after typhoon Ondoy, everybody began appreciating non-life insurance... We had a surge in requests to get insurance for both their cars and properties," Cutiongco shared.

For starters, Cutiongco said one should get a fire policy for his home. But since that only covers fire and lightning incidents, it is advisable to get another to cover for earthquake, typhoon and flood, especially since the Philippines is battered by weather disturbances every year.

"We also suggest you get personal accident insurance for each and every member of your family including the household help," Cutiongco said.

"There's also what we call liability insurance. For example, you have guests at home and you have a dog that bites your guest, and you have to treat them--then you can use that," she continued.

Non-life insurance covers only structures and not the land, Cutiongco stressed.

For interested clients, one can check the Insurance Commission's website for licensed companies that offer non-life insurance. From there, one can contact the chosen firm through the insurer's own website or through an agent of that company.

source: abs-cbnnews.com