It can be really tiring when one decides to take the next step and buy a real estate property in Dubai. With a lot of excellent choices and great deals, you may find yourself in a bit of trouble searching for that one property as well as a reliable real estate company that is a cut above the rest and is undoubtedly distinguished in the field.
To lighten up your brain activity and have a good rest from reading the same old materials regarding mortgages, loans and financing when browsing for new homes, here are fun facts about real estate:
McDonalds is a real estate company
To most people’s eyes, McDonalds is a burger flipping fast food chain but actually, they are in fact a real estate company. The company makes money on real estate through:
- Buying and selling properties
- McDonalds charges franchise rent to its franchisees for using the corporately owned properties aside from the franchise charges for using “McDonald’s” name.
Apple paid $1.7 million for one acre of land
When Apple was building a new data server in North Carolina, Donnie and Kathy Fullbright decided that the chance was the ‘iDeal’ situation when Apple tells them “name your price” for a one acre of land. The couple, a few decades ago purchased the property for $6,000.
Utah cut chronic homelessness by 74% since 2005
How, you ask? Utah has been giving free homes to the homeless since 2005.
Trivia Info Resource: http://www.damacproperties.com/
Pataskala is one of the 5 cities in Ohio, the Licking County in the USA.
Did you know that Pataskala is derived from a Delaware Indian term which means ‘Licking River’? Pataskala was first known as The Village of Conine before 1851. These 2,000 acres of the land was purchased by Richard Conine, the “Father of Pataskala”. He and his wife visited this area in 1805 but it was in 1821 that they have settled here permanently.
It was on January 19, 1997 that Pataskala gained the status of a city.
Pataskala and nearby Attractions
• Blacklick Woods Metro Park
• Granville Historical Society Museum
• Great Circle Earthworks
• Franklin Park Conservatory
Community Reinvestment Areas
To stabilize the subject neighbourhoods, encourage new private section investment as well as property revitalization, increase economic development activity, and stimulate job creation, the CRA or Community Reinvestment Areas in the city of Pataskala is created. The four areas are:
• Pataskala Old Village
• Pataskala Columbia Center
• Pataskala Summit Station-Gateway
• Pataskala Corporate Park
For qualified residential and commercial property improvements that are related to the renovation of existing or construction of new buildings within these designated areas, you should know that property tax incentives for investment are provided.
For property buying and selling in the area, get in touch with Pataskala Ohio Realtor.
Trivia Info Resource: www.herrealtors.com/TraceyDixon
Inspecting is important before buying a house. By inspecting, you can properly assess the house you want to purchase. Not to mention, you can also avoid issues that can affect your finances and well-being. To help you avoid these, listed below are some of the most common home problems.
Wood is one of the most commonly used items when building a house. Unfortunately, water and pests can damage wood easily. Therefore, it is important to check wooden items when purchasing a house. The most common areas where wood is used are in ceilings, walls and floors.
Opting for a house with appliances can be very exciting. Of course, you do not need to purchase new ones. However, when it comes to old appliances, you may experience a lot of issues from electric damages and even functionality. Hence, check the appliances and get rid of old ones.
Storm can be very destructive since it can ruin a home in an instant. As a result, it is also important to check storm damages from water leaks in pipes, cracks in walls and even damages in the roof.
The extreme heat of the sun can affect the temperature in your house. So, it is also important to check the insulation. In this way, you can replace and fix the insulation in your house to improve temperature.
Trivia info source from: BPIC.com.au
When it comes to granny flat designs, one of the most essential parts you need to consider is the roof. Of course, you need to make sure that the granny flat can withstand all kinds of weather. In addition, you need to make sure that the granny flat can provide you with an appealing look. To help you choose the ideal roofing design, listed below are some of the common types of granny flat roofing styles.
This is the most common roofing design used for granny flats. However, you need to have rear setbacks in order to support the roof. Granny flat builders state that the roof-angle must be at least 15 degrees to support heavy roofing materials like concrete roof tiles.
This is the simplest and cheapest roofing design you can choose for your granny flat. The most common materials used in creating such roofing design are metal sheeting.
Single Skillion Roof
This type of roofing design is used to minimize the impact of a granny flat. The roof-angle of this design can be as low as 3 degrees which can be very appealing. To make it more attractive, you can make use of metal-clad or “Colorbond.”
Double Skillion Roof
This type of roofing style can provide modern and energy-efficient features. This is possible since windows can be installed vertically above the lower roof. By installing windows above, natural light can easily enter the house which can help you reduce your electric costs.
Trivia Info Source From: www.grannyflatengineers.com.au
Inspecting the house is a very important task. Through inspecting, you can get rid of problems that may affect your safety. Inspecting can also help you look for areas you need to fix. And, it can also help you ensure that your house is safe and reliable. To help you inspect your house, listed are some of the most commonly used tools in inspecting a house.
Most of the time, home items are installed using fasteners like screws. Therefore, one of the most commonly used tools is a screw driver. By using screw drivers, you can easily uninstall items to inspect it.
Electrical testers are also important when inspecting a house. Electrical testers can also help determine if electrical wiring in your house is properly done. Not to mention, you can easily check faulty wiring in your house, which can help you avoid fire and electrocution.
It is also important to make use of a thermometer. Thermometers will allow homeowners to determine the temperature of each area. With this, homeowners can install ventilation items to control temperature inside the house easily. You can also make use of infrared thermometers to make your tasks more efficient.
There are times when home structure may deform due to soil changes. Thus, you need to make use of a tape measure. Tape measure can also help homeowners make sure that the items are properly installed in specific areas to avoid gaps.
Humidity temperature gauge
Finally, humidity temperature gauge is also needed in order to check areas in the house that are humid. In this way, you can add ventilation docks to control humidity and to avoid pests to breed in these areas.
Trivia Info Source From: Buildingandpestinspectionnoosa.com.au
When not properly maintained, homes can become a breeding place for many pests. Thus, home inspection for at least once a year is a must to detect the presence of any pests or damages in a certain property. Based on expert property inspectors, there are common pests found in Australian homes.
Pests Commonly Found In Australian Homes
- Termites – 1 in 4 Australian homes will most likely have termites in their lifetime. Did you know that termites are Australia’s most destructive pests? The cost of damage they caused has an average of $7,000-$8000. Usually, this is not covered by most home insurance policies.
- Mice – These pests are active all year. They constantly damage furnishings and chew on packaging to access food. They are actually known to spread disease.
- Cockroaches – These pests come out after dark, feeding on various types of food. Similar to mice, they also carry diseases.
- Wasps – Nests of large wasps usually contain more than 25,000 wasps which can be found in wall cavities, bushes, lofts, and underground.
- Rats – Do you know the most common rat in Australia? It is actually the black rats. Their teeth marks on electric cables can actually become a fire hazard.
Other pests commonly found on Australian homes will include bed bugs, ants, textile pests, and flies.
Trivia Info Resource: building-and-pest-inspections-brisbane.com.au
Termites are silent property destroyers as they can remain undetected while they chew your wooden pieces. Your home may appear totally in good condition but these termites already occupied your property. Did you know that these creatures are the reason why about $5 billion worth of properties are damaged each year? Most homeowners are not even covered with insurance policies.
Here’s to identify the different kind of termites:
Subterranean Termites – You have seen these termites if what you have at home are shaped long, narrow and oval. They are creamy white to dark brown or black pests that builds tunnels to get to their food. They live in underground colonies and with their number they are considered as the most destructive termite species.
Drywood termites are mostly seen in wooden pieces at home. Because they like to infest in dry wood, they can stay in your attic, support beams, floors, walls, and even in your furniture. Keep your firewood and scrap wood stored far from your home to prevent these termites.
Dampwood termites – these termites are attracted to wood with high moisture content such as logs, fence posts, tree stumps, dead trees, and utility poles.
Formosan termites live underground in huge colonies. A colony can consume about 1 foot of a 2X4 wood in 3 weeks. They also stay in shrubs, trees, timber and even boats.
Conehead termites spread quickly because they nest on the ground like ants. You will see a dark brown mud tubes in trees or in wooden your structures if you have these termites in your property.
Trivia Info Resource: bpic.com.au
Passing the test seems to be the focus of many people wanting to have career in the real estate industry. They believe that the first step to becoming a real estate agent is to get the license. But did you know that your success is not just having the license?
Here are questions you should ask yourself to know if you are ready to head on.
Do I have a backup income source? Prepare yourself as getting started can leave you without an income for about six months or more. You should have savings enough to pay your bills, buy you food, support your travel, etc.
Who is going to mentor me? Having a license does not mean you fully understand the process. You need details on how to explain terminologies found in every real estate documents. A good mentor should be in your list.
How can I manage my contacts and prospects? Writing contact information in your notebook will do for a while but find ways to manage this information efficiently. You will be building a database of your prospects so it is best to organize them at once.
What other skills should I acquire? Building good relationship should be on top of your list. It pays off to widen your network first as you can get future clients from there. Technology skills are also important. Take advantage of social media to promote your service. Learn how to market with this free medium.
More real estate trivia here.
Mortgage or mortgage loan is used by purchasers of real estate to raise money to buy the property to be purchased. Mortgage is available to those who have good credit history, proof of income and asset, employment verification and preapproval. With this, you can purchase a house easily. Some individuals think that mortgage loans are only about paying borrowed money. However, there are a lot of factors to consider in a mortgage loan. Listed below are some of the following.
This is the original amount of money, less any payment made towards it. Mortgage principal does not include interest.
Mortgage interest is calculated on the remaining principal balance and paid with regular payments. These costs are front-loaded in order to make interests to have larger percentage on your regular mortgage payments.
This may be included on your regular mortgage payment. These taxes are based on the official assessment of the property value on the market. Generally, taxes are paid in installments.
Mortgage life insurance
This is added to your regular mortgage payment. This insurance will pay or reduce your outstanding principal balance on the day you pass away and when your claim is approved.
Info source from: Zepfinance.com.au
Getting a loan surely provides amazing benefits for individuals. Mainly, loans provide sufficient finances to help individuals purchase good investments such as houses or cars. However, getting loans is not that is easy since you need to be credible before getting a loan. Plus, you need to deal with terminologies that can are quite hard to understand. So, to help you learn more about loans, here are some of the commonly used terms when getting loans.
Assets are items that have value from a real or personal property that can be appropriated for the payment of debt.
Capital is known to be all the money and other property that you use in transacting.
Collaterals are assets pledged to secure the repayment of a loan.
It is the value of property in an organization greater than total debt held on it. Equity investments typically take the form of an owner’s share in the business.
Principal is the amount that is received by the borrower.
It is where a borrower agrees to continue to carry over the loan or invest for another successive period of time.
Term refers to the maturity or length of time until final repayment on a loan.
Info source from: Zepfinance.com.au