Month: September 2014
Changing your homes property value is a make-or-break game, and a tough one at that. It seems like property value killers are waiting around the turn of every corner for the right…err…wrong time to strike. Even factors that you have no control over can reduce the price of your home like closed schools, landfills and foreclosed homes within 250 feet! But to every yin there is a yang, and there are several fixes and hidden gems that can be used to your advantage to bolster the value of your home.
Granted, there are simply some influencers of property value that we cannot change. Plain and simple. A relatable example would be your neighbors. If you have the misfortune of having neighbors who are loud or do not provide decent upkeep to their land and property, the value of your home could be affected in turn. Alternatively, however, if you happen to have great neighbors, the value of your home will without a doubt witness an increase. Not to mention studies have shown that friendly neighbors are even good for your heart! Who would’ve thought!
But don’t be discouraged; there are still many different tactics that you can implement in order to raise the value of your home, which one you choose is entirely up to you, however, and depends on your financial situation, as well as the layout and condition of your home. Lets begin with one of the most obvious choices, redoing your kitchen! While redoing your entire kitchen can be an ongoing and lengthy project, a quicker step to take would be to make over your cabinets. Now this doesn’t necessarily mean replacing them entirely, in some cases, you can simply slap on a fresh coat of paint to give your kitchen a quick facelift and, ultimately, raise your property value.
Most people seem to forget that when someone is considering making a purchase, they envision themselves fitting into whatever they plan to buy. Homes are no different, if your buyer can’t see himself or herself…or anything else because of all the clutter a home has, your value will decrease. So make sure you declutter your home and make you space viewable. But don’t get too caught up on the inside of your house that you completely ignore the outside. Your homes landscaping and greenery can play a big part of raising your property value. The addition of a garden can even raise your homes price by up to 25%!
In the end, increasing your property value is a tricky situation, as a whole. It can go one-way or another and ultimately, is an investment, but one that usually pays off. So take the first step and plan some weekend projects to get yourself started on that higher price for your home on the market!
Miami’s expanding skyline could easily be attributed to a number of possible contributors. One might think that it is due to a population growth or a stabilizing economy, and therefore, real estate market. Both answers are correct. But what if we told you that it was primarily due to foreign investment, which has helped Miami a tremendous amount in terms of it’s real estate growth, and well, skyline development. Initially, the Miami downtown area had very slow, stable growth, but within the past years has quite literally skyrocketed. This doesn’t simply just happen everywhere, in fact, many cities have been pushing for foreign investment, but have fallen flat. So why Miami?
Miami is a major tourist destination, the city attracts dozens in pursuit of beauty, luxury, and of course…beaches. But this barely scratches the surface as to why it has witnessed such rapid growth because of foreign investors. The main reason– because it is considered to be the “Capital of Latin America” by many. Studies by the Miami Downtown Development Authority suggest that 90% of new condo demand in the downtown area is primarily from foreign buyers.
The large influx of foreign attention can be traced back to several distinct variables that make Miami the prime destination for them to place their investment money for safekeeping. From a financial standpoint, Miami offers low prices and low interest rates as opposed to Latin American destinations. However, from an aesthetic perspective, the potential of investing in Miami is absolutely boundless. Not only does Miami promise a beautiful permanent or vacation home, but the prospect of the United States and the opportunity for a better lifestyle are major perks, as well. Not to mention the biggest drawing factor of Latin American suitors, the culture which is a vibrant infusion of both Latin and American!
Essentially, this has a huge trickle down effect on both Miami Real Estate and the quality of living within the area. A combination of demand from both domestic and foreign buyers have allowed for the real estate market to reach record levels of sales in 2014. Not to mention the city growth itself like the recent approval of SkyRise Miami which is calling for foreign investors to back the project by granting them an EB-5 visa, a green card for foreigners who invest $500,000 to $1 million in the United States. At this rate the growth caused by foreign investors shows no signs of slowing down anytime soon and will ultimately contribute.