Category: Real Estate


Lake Living: Why You Should Invest in a Home on the Water

Home buyers come to the lake for the views and the sophisticated home designs. Living on the lake gives them access to a community of residents and a chance to make lasting friendships. Residents in lake areas offer a sense of small town living without the quaint houses. Living on the lake is an incredible opportunity, and some buyers live there throughout the year.

The Peaceful Tranquility of Lake Homes

Living on the lake gives homeowners access to a peaceful life. Most days, the homeowner can sit on their porch and enjoy the sound of the waves and wildlife. It is a relaxing experience, and homeowners can enjoy a more laid-back atmosphere. Residents around lake areas are kind and offer a sense of community. They don’t make a lot of noise and disturb others. Homeowners get to take advantage of this quiet life by purchasing a home on the lake in their preferred area. Buyers can review homes on the market in lake regions by visiting now.

A Myriad of Activities on the Water

Homeowners living on the lake have access to the water, and they can enjoy a multitude of activities each day. They can fish during the season as long as they get a fishing license, and there isn’t a limit on how often they fish. This could mean a fish fry or barbecue is in their immediate future. Water sports and kayaking are fun on the lake, too. Homeowners with boats can travel out on the water and take in the sights. Boats give them closer access to fireworks displays and takes them away from sizeable crowds. Life on the lake gives them a great opportunity to entertain their friends during any season.

Private Access to the Lake

Privacy is one of the best qualities of living on the lake. The property owner has private access to the lake where only homeowners can go. These areas are protected by fences and locked gates to keep outsiders away from their homes and their private lake areas. This gives the homeowner more exclusivity and prestige, and they can invite anyone they choose to their section of paradise whenever they want.

Breathtaking Views on the Water

The picturesque views are available on the water, and homeowners watch the sunrise and set over the water. It is a miraculous view that is often seen on postcards. However, owning property on the lake allows the property owner to enjoy these views whenever they want. The owners can watch wildlife in the lake area and take pictures if they choose.

Innovative Home Designs

Lake houses provide amazing and innovate home designs for buyers. The architecture is impressive and doesn’t look like standard homes they see in planned communities. Some homes have glass walls that give the owner views. They also construct properties of brick that provide a more art deco look. Homebuyers can review a myriad of home designs when viewing existing homes, or they can purchase a lot and build the home of their dreams.

Home buyers seek properties on the lake because it is peaceful and gives them a chance to relax. Lakeside homes also give buyers immediate access to the water, and they can go for dip whenever they want. Buyers review all the significant reasons for living on the lake and look for a home that meets their demands.

Commercial Real Estate Loans & Property Financing

One of the most common American dreams is to own your own business. In order to make that dream become a reality you will want to know the facts about commercial real estate loans & property financing.

The majority of people who have their own business do not have enough capital to purchase their commercial real estate without taking out a loan. Property financing for this kind of venture is slightly different from getting personal property financed.

How to Secure a Loan on Commercial Property

When you are requesting a loan to purchase commercial property the amount of the loan will be secured by a lien against the property. The lien gives the lender the right to take possession of the property in the event that the borrower does not meet the specifications of the purchase contract.

In short, a lien gives the lender the right to take the property if you fail to meet your payments, or fail to do things like insurance the premises. The real value of the property you wish to buy is what will determine the amount of money a lender will provide you with.

Establishing a Down Payment

The majority of lenders will not enter into a financial agreement with you without you making a initial investment. The initial investment is the down payment you make when you get the loan.

The typical amount of money required as a down payment on commercial property is between 20% and 30% of the amount you wish to borrow. On many personal loans a down payment is waived, but commercial loans are usually larger, and riskier for the lender. These facts cause lenders to almost always require a down payment.

Think of your down payment as a show of faith to your lender. The lender will be giving you a sum of money that they trust you to repay. To show the lender that you fully intend to repay them you will put up a down payment of your own money.

Immediate Term Loans and Long term Loans

The commercial loan will not have the same repayment lengths as your average home loan would. Most home loans are established in fixed monthly payments that are made for periods of close to 30 years. Commercial loans are generally either short term or long term.

  • Short term commercial financing provides you the loan amount for a period of generally less than 3 years.
  • Long term commercial financing will provide you with the loan amount for a period of 5 to 20 years.

Another type of commercial loan is the amortized loan. With an amortized loan you will get a repayment time of 3 to 7 years. You will make monthly payments, but at the end of the loan cycle you will make one payment that is commonly called a balloon payment. This payment can often be very large.

Interest Rates and Fees

Commercial loans generally have higher interest rates than typical personal loans do. The interest rate that you are asked to pay in 2019 is between 3.35% and 6%. This interest rate is often determined by the type of lender that you get your loan from.

Banks and Credit unions will sometimes make commercial loans. If you want the best interest rates, and the easiest terms on a commercial loan you need to refer to a company like Clopton Capital. 

The fees that come with a commercial loan include:

  • Property appraisal cost
  • Surveying fees
  • Title searches
  • Legal costs
  • Loan origination cost
  • Loan application costs

Some lenders will require you to pay part, or all, of the fees before they will lend you the money. Some lenders will include the fees in your loan so you pay the fees off as you pay the loan off.

Always be certain that you completely understand the terms of the loan agreement you are entering into. Do not be afraid to ask questions, or take time to think about the agreement before you sign on the dotted line.

Top Things To Consider Before Buying a New Home

One of the biggest investments for most people is buying a new home. This is crucial, especially if you are a first-time homebuyer. The whole process is not usually very easy as you might think. There are a lot of factors which you should definitely put into consideration.

The best way to go about it is by doing some research. Of course, you need to have a well-outlined financial plan before you sign the contract. To ensure that you end up with a home that suits you, here are the top things to consider before buying a new home.

1. Research the Local Area

Take time to research the local area. You need to be informed about your neighborhood before you can even look at your property. Is the local area good for you? What is the trend of property in that area? What about security? Can you do more investment in that area?

Talk to several real estate agents and get their opinion. Seek advice from your mortgage broker (if you have any) regarding the property prices in that area. This will give you an overview of pricing and the correlation with the house you are interested in. Lastly, consider the opinion of your family and friends.

Note that location is everything. You can change the design of your home but you can’t change the neighborhood. In addition to that, you cannot change the location of your home. So, make sure that you also consider things such as its proximity to public amenities such as transport system, schools, and medical centers. Other things that relate to the location include its proximity to your workplace and ease of access.

2. Look for a House that Suits Your Life

The interior design, as well as the exterior appearance, matters a lot. Do you want to spend the weekend outdoors? This means that you need a place with a big compound. If you are interested in gardening, then it’s only sensible that you get a place that has a back or front yard.

Curb appeal is everything. This is crucial for attractiveness as well as maintenance. Landscaping also plays a major role in improving the curb appeal. Overall, this means that you should first visualize your home before you can even own it.

3. The Size and Floor Plan

Is your dream home practical in perfectly sustaining you? The size and floor plan matter depending on the number of occupants. If you have a family, then you need a large home with a couple of bedrooms. This is important for privacy. It also minimizes the chances of space conflict. The number of bathrooms and baths are also important for hygiene and sanitization.

4. The Windows and Lighting

This is important for internal lighting and also design. Are you a person who loves privacy? If so, then you must look for a space with few windows. If you love lighting and figure that your home should be illuminated by sunlight, you need the floor to ceiling type of windows.

5. Buy a House That You Can Afford

You should be able to afford your home not only now but also later. Life changes and you should, therefore, have a solid plan. For instance, will you still be able to afford the mortgage and other maintenance expenses once you start taking your kids to school? The purchase shouldn’t be affordable just right now but also in the next coming years. This way, you will be able to manage your lifestyle without worrying about running into debts.

6. Only Work With Well-Experienced Professionals

Buying a home is one of the major investments in life. So, it’s only worthy for you to be in the company of skilled and experienced professionals. Note that you can hire a home inspector to help you. These experts can easily identify any issue that could be costly to repair. Additionally, it’s also important to work closely with a good mortgage broker. This will help to ensure that your finances are well-structured d to cater to your needs. There should also be different lawyers representing you and the seller.

7. Signing the Contract is Important

All property purchases involve the signing of a contract. So, during the transaction process, understand that you have to sign papers. These are contracts just like others. So, it means that there is a room for negotiation. You have the option of reviewing home inspection. But at the end of it, make sure that both you and seller end up signing the contract.

8. Take Your Time

Do not fall for a quick sale. The real estate agent shouldn’t convince you otherwise because you might end up purchasing a low-quality property. Don’t let anyone pressurize you into purchasing a home. Note that agents also have a personal interest in the sale of the property. So, they will definitely try to convince you that the property is in high demand. As a result, you may end up spending a lot of money. Don’t fall for “buy now or someone else will”. In case there is too much pressure, simply back off. After all, this isn’t the only property in the market. Take your time and make a well-thought decision that’s based on considerations and your objectives.

9. The Search Process Can Take Longer

Getting the right property that fits your desires can take time. So, don’t limit yourself to a timeframe. Don’t subject yourself to the pressure of time. Because you might actually end up spending months more than what you had anticipated.

Final Thoughts

Getting your dream home is everything. But the process of buying it isn’t easy. You need to take time and re-evaluate your decision before signing the contract. The search process as a whole is also time-consuming. Besides that, you need to work with professionals who are experienced in real estate. All these things will definitely take time and money. Carefully structure your finances so that you don’t end up broke. Don’t forget to take your time. This is a big investment, there is no need to make rushed decisions.


Read more: property management company

Skip to toolbar