What To Consider When Investing In Serviced Apartments

Most of the people have a tendency to regard serviced apartments as home property. Howeve, they’re not. As serviced apartments are built on commercial land, they come with commercial land titles.

As such, should there be any dispute between the buyer and the developer; it will not be settled via the Housing Tribunal. It must be settled in a civil court.

Maybe it is because of recently more developers have been building serviced apartments or just exploited the term serviced apartments as a selling trick to draw in buyers. I have come to grasp of a project where the developer launched as serviced apartments situated under commercial land. But on enquiring about the service render to the owners expected of a serviced apartments, I was told that there is not any service to be rendered and the supposed serviced apartments are precisely the same as any other lofts with the ordinary facilities like pool, gym, tennis court, etc. So take care and check correctly before you purchase a serviced apartment and do not be tricked by the term used.

At first , these apartments were built to supply a substitute for a hotel, with all of the comforts of home for managers having to work in cities and towns for periods longer than a week or two. These fashionable serviced apartments are appealing particularly to expats as stylish hotel possible choices with home-away-from-home interiors, mixing hotel facilities with home comforts.

Today, many have selected to call serviced apartments “home”. In major cities like New York, London and Paris, serviced apartments in great locations offer one of the most complex urban lifestyles available. The demand is so high that in some examples, even previous economic buildings in desirable locations have been redecorated into sleek serviced apartments. Many describe these apartments as being “urban chic”. I’ve seen some extremely enticing transformations, incorporating high ceiling heights ( above 4 metres ) with exposed slabs and beams and quality modern materials – terrazzo tiles, stainless-steel, deep timbers and resins contrasting with classical elements like backlit marble. Pluses include linkage to signature eateries and some can even use adjoining hotel facilities, i.e. concierge service, twenty four hour room service, housekeeping, even valet parking!

The prestige, a modern life-style with wireless broadband connection and integrated smart home systems, exclusive club facilities including swimming pools with fitness centers, sauna, steam and massage rooms, business centers and lobby lounges, high technology security features, and convenience are fueling interest in serviced studios, particularly for many young working executives and expatriates in the city.

All of these facilities, naturally, come at a price, which is in the shape of a monthly service charge and sinking fund. Depending on the level of luxury, the monthly service charge and sinking fund per square foot can range between moderate to high cost. It is recommended to build this into the rental for simple monitoring of costs.

Old House Vs New House

Having your very own home is among the greatest investment you could ever have in a lifetime and among the biggest decision any prospective buyer must make is whether to buy an old house or a new house. Either way, there are advantages and disadvantages but how you weigh the considerations will all boil down to your personal preferences as well as circumstances. So if you feel the time has come to own a New York home, here are the pros and cons to help you out- ideal whether you are in Long Island, Queens, Brooklyn, Staten Island or Manhattan.

When it comes to deciding whether to buy a new or old house, there are important considerations to take including:
Cost
Maintenance
Aesthetics
Energy efficiency
Location and easy access to amenities
It is crucial that you should put much thought into your choice and make sure that the decision would end up not only complementing your lifestyle but will prove valuable to the whole family as well.

Buying a New House

Generally, new houses are built and designed to meet the modern needs of a homeowner together with the entire household. With the great advancements in technology, they are constructed with materials that are far more energy efficient and equipped with products and equipments offering better features that make everyday life a whole lot easier and monthly energy bills lower. This makes up for fewer repair and maintenance costs over a span of several years. If any event occurs, one year warranty coverage is common with new houses. Most new constructions are a part of a huge housing complex that makes some amenities like golf courses, clubs, swimming pool and other such amenities readily available.

Now that weve covered the pros here are the cons to buying a new house. Being a part of a housing complex that is just starting out, you will not be so sure on what to expect with neighborhood you will have. Your home will practically be identical with that of your neighbors and everyone in the community. You would also have to deal with many restrictions when it comes to home improvements and remodeling, especially projects that considerably changes the exterior. With continually increasing land and labor costs, this choice is typically more expensive.

Buying an Old House

Before going through the benefits of buying an old house, I have to clear that by saying old, I am not referring to historic houses. Old houses, about a decade or two old, are generally located in an established neighborhood and asking around can give you an idea on how it is living there and what types of people you will be getting to know. Also known as single family home, an old house is generally not a part of some housing community thus you can expect more character out of it and you will have more freedom to implement changes in the future. Having existed for some years already, these houses are conveniently situated where businesses like banks, entertainment and shopping facilities, markets, and schools are already at close distance. Generally in prime areas, you are availing of excellent resale value for less since they are comparatively cheaper with a price that can still be negotiable.

On the downside, old houses are of course oldhaving outdated architecture, less efficient insulation, and are not designed to accommodate advanced technologies. Though these issues can be solved through remodeling, projects involving such upgrades can be costly.

Real Estate Agents In Chicago Being A Wise Consumer

Real estate agents in Chicago, New York, London, Shanghai and Mumbai are adept at making fortunes out of property deals. Well, they are a talented lot when it comes to making money. However, what is actually fueling their increasing importance in brokering real estate deals is the huge gap between supply and demand. There is an acute shortage of prime real estate in these cities. But the growth in disposable income of highly paid professionals in these cities has led to enormous interest in real estate.

Real estate agents provide a service for both the buyer and the seller at the same time. How does this work? Well, real estate agents assist the buyer by showing him properties that meet the criteria he wants and by helping him negotiate an acceptable price for the property when he is ready to buy. Meanwhile, real estate agents assist the seller by bringing in possible buyers to view his property and ensuring the seller gets a fair price when selling. A good real estate agent will make win-win deals, thus becoming an integral part of the property market.

If you possess the useful resources while working in a metropolitan city like Chicago, you can always make some investment in the real estate industry viz. a new house. Price increase in property allows you to deal with the rising prices. Moreover, this ensures that you live in a better flat in a much better area.

A good place to find steady and able real estate agents in major metropolitan cities is real estate specific websites. Also, performing background checks on any agents you may consider using is essential. In a perfect circumstance, you would want to be in contact with many agents so you are shown a bigger variety of property. It also guarantees you a good deal because you can compare agents to each other.

It would be in your best interest to understand the laws that pertain to real estate in your particular location. For instance, if you are buying or selling a property in New York and you are aware of the real estate laws that govern New York then you can be sure that you are not scammed by an estate agent, who’s promises may not necessarily be legal.

Your ability to find good real estate is related to and enhanced by your ability to employ real estate agents. You also need to be able to deal with them intelligently and sift through their speeches.