Tag: housing

How to choose which areas to live in

How to choose which areas to live in

What kind of areas do we all like to live in? It doesn’t really matter whether you’re a student, a working adult, a recently married person, or someone with 3 kids and a dog; there are a few characteristics that everyone prefers to have in their neighborhoods. However, we don’t have unlimited supplies of money nor time, so we can just keep experimenting with different localities in the hopes that we’ll accidentally come across the perfect place to live in. The perfect place, in fact, doesn’t really exist for you to live in. There will always be pros and cons to consider about the place whenever you’re relocating to it.

The most important things to look for when relocating are a friendly neighborhood which is safe from most types of crimes.  A low crime rate in the region is one of the most underrated aspects considered when looking for a new place to live, but you’ll be all the better for considering it. Make sure you don’t leave it out, and have a good look at reports and newspaper articles about any crime rates in the region. This will help you in the long run and keep you and your family safe from any potential mishaps. Here are a few things which you should consider when looking for areas to live in:

1.     The roads

Some countries have similar and fantastic roads all over the country. If you live in one of those awesome countries, then you can skip on to the next point. However, if your country has various road conditions all over the place, then have a good scout of the entire region before you move in. The streets should be somewhat wide – especially the one in you’re considering moving to. If they aren’t wide enough, it’ll be a huge source of unnecessary and avoidable stress. Along with the streets, you should have a good look at surrounding roads and make sure that the traffic runs nice and smooth in the area. Otherwise you’ll find yourself stuck in roadblocks all the time, and it’ll be too late then to do anything about it. Therefore you should save yourself from being in a position where you’re not able to do anything except regret your past decisions.

2.     The greenery

This point doesn’t seem important at all because you’ll obviously be considering macro aspects like the money involved etc. However, it’s a good idea to spend a little extra and move to a place where there is an ample amount of greenery. Even if the areas with more greenery are a little more costly, you should still consider moving to them as a good amount of greenery is great for a person’s mentality and will passively boost your productivity and keep you healthy.

Keep these factors in mind when you’re looking for a new place to live. They might not seem important at first, but you’ll realize how important they are a few months in.

 

How to be a Fair Landlord

How to be a Fair Landlord

It’s great being a landlord. You get rent for your property, and whether you bought the property yourself or got it through inheritance, the feeling is pretty great. Now that you’re a landlord, it doesn’t mean that you can treat your tenants however you want. Being a landlord doesn’t give you the moral right to do whatever you want. There are a few rules you need to undergo and follow if you want to be respected and liked as a landlord. Having tenants which are at good terms with you is as advantageous for you as having loyal employees in a business. You need to learn how to be a fair landlord for this to happen. Here are a few tips that you can follow in order to become the landlord that you should be. If you’re a veteran landlord, you might want to consider reading on too; you might learn a thing or two.

 

Maintain good communication

Your tenants have the right to be heard if there are any problems with the building which isn’t their fault. You need to consider it your priority to make sure that your tenants are nice and comfortable in the building that you’re provided them with and are getting everything that they’re paying for. There is nothing more frustrating than a landlord that doesn’t listen and respond to complaints. Make sure you don’t turn into one of those landlords, else you can say goodbye to your goals of becoming a good landlord.

Be clear on agreements

Often, tenants might not be fully aware of what the lease agreements to which they’re signing to actually mean in their complete extend. You need to make sure that they know every point on their agreement which concerns them. Explain every point which you think they should know about to them as best as you can. This removes the risks of any misunderstandings developing further down the line and can save you and your tenants a lot of stress and time. If you intentionally leave confusions in lease agreements in order to exploit your tenants, then stop. This is not the way to go, and you’ll find yourself much happier with clean agreements which are profitable for both parties.

Understand your locality

Every separate location has different conditions and laws affecting it. You need to be aware of any such rules and regulations which are under effect in the area where the house you’ve given for lease is in. Knowing these things can be helpful.

Research you tenants

This might not be possible every time, but if it is, then you should take advantage of it. You should get to know your tenants as closely as you can – in person and through research – as you can before letting them into the house with an agreement. Good natured tenants can be as much a blessing as disreputable tenants can be a headache.

Condominiums vs Executive

Condominiums vs Executive Condominiums

 

Condominiums

Condominiums are generally called condos for short, and are generally large building complexes with multiple apartments which are owned by individuals. The apartments all have shared facilities, along with shared halls, heating systems and outdoor areas. Government influence is at a bare minimum when it comes to private condominiums.

Executive condominiums

Executive condominiums are quite different from private condominiums. For one, executive condominiums are exclusive to Singapore and aren’t found elsewhere. Secondly, there are lots of government regulations regarding this sort of building structure and the people who own and live in them. They are semi private, and the government has some restrictions on who can own them and live in them etc. Executive condominiums are subsidized by the government and are only available for specific people.

Here are the main difference between condominiums and executive condominiums:

1.      Eligibility

Everyone is eligible to own private condominiums. There are no government restrictions in regard to this. However, executive condominiums have a specific target audience. They are meant for the average working class citizen of Singapore, who can’t afford private condominiums and homes due to their high prices, but can afford more than simple HDB flats. Their monthly income needs to be less than $14,000. Furthermore, such people should not have any property purchasing history in the last 30 months. Lastly, a person applying to purchase an executive condominium must be a Singaporean citizen. Fulfilling all those requirements, one is eligible for applying to purchase an executive condominium apartment.

2.      Area

Executive condominiums generally have a larger floor area than private condominiums. For instance, a private condominium with 3 bedrooms would be smaller than an executive one with exactly the same amount of rooms. This is, of course, a benefit of living in executive condominiums and one of the incentives the Singaporean government gives to its citizens to encourage them to use them.

3.      Amenities

In terms of amenities, both types of condominiums appear to be quite similar. They offer swimming pools, tennis courts, barbeque spots, security, a gym and a lobby. One possible advantage that private condominiums might have over executive condominiums is that they generally provide more than one parking space for tenants. However, as mentioned, executive condominiums are meant for people who are average citizens and not expected to have multiple vehicles.

4.      Pricing

Private condominiums can be in affordable ranges, but can also be extremely expensive, costing millions of dollars. Executive condominiums on the other hand cost much less, and are around 20-30% less expensive that average private condominiums depending on their size and location.

5.      Ownership

For private condominiums, ownership is transferred to the person purchasing the apartment as soon as the deal is made. However, in case of executive condominiums, the person purchasing it has to ‘own’ it for at least 10 years before complete ownership is transferred over to them. Only then can the executive condominium be sold to a third party member.

When deciding which type of condominium you want to purchase, these are the things that you should keep in mind.