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A reverse mortgage is a special type of loan that some older homeowners can take out. This loan allows them to access their home equity and receive cash payments, either as a lump sum or in installments over time. Many seniors turn to a reverse mortgage loan in retirement to bolster their income, and they can use this money to maintain their home, pay for healthcare, or cover any other costs in their lives. 

If used under the right circumstances, the money you receive from a reverse mortgage can provide you with a greater degree of financial freedom in retirement. So is a reverse mortgage right for you? In this article, we’ll take a look at four major benefits of a reverse mortgage loan. 

What is a Reverse Mortgage? 

A reverse mortgage loan allows homeowners to borrow money by tapping into their home equity, and using their home as collateral for the loan. This means, essentially, that you’re able to borrow money without having to make monthly principal and interest payments. It can be a great way to improve cash flow and, since there are very few restrictions on how to spend the money you get from the loan, you can use it to pay for a wide range of costs and expenses. 

One of the most unique aspects of a reverse mortgage loan is that there’s no set due date for when you have to pay back the money. While you can make payments on the loan at your convenience, the total balance of the loan only becomes due once you sell the home, move away, or die. 

Who Qualifies for a Reverse Mortgage? 

To qualify for a reverse mortgage, you generally have to be 62 or older and must either own your home outright or have a considerable amount of equity in the house. The exact amount of home equity you need varies depending on the lender you’re working with, but as a rule of thumb you should have at least 50% equity in your home to take out a reverse mortgage loan. 

A reverse mortgage can be a useful tool depending on your own financial situation. For example, if any of the following statements apply to your situation, then a reverse mortgage may be for you:

• Most of your net worth is tied up in your home
• You’re in need of cash and don’t have other sources of income 
• You don’t plan on ever leaving your home 

Benefits of a Reverse Mortgage

Reverse mortgage loans offer borrowers a variety of benefits. Under the right circumstances, it can be a very powerful tool that allows you more freedom and flexibility in your finances. Here we’ll take a look at some of the main benefits that come with a reverse mortgage loan:

#1: Increased Cash Flow 

When you stop working and retire, you typically lose your main source of income. However, your other expenses, such as your mortgage, utilities, insurance, maintenance costs, and so on generally stay the same. If you don’t have an ample savings account, this can create a situation where you feel stressed out or overwhelmed by these costs. 

A reverse mortgage allows you to pull money you wouldn’t normally be able to access out of your property. This supplies you with an income stream that can help you more comfortably manage your expenses in retirement. 

#2: No Monthly Mortgage Payments 

As a homeowner, you won’t have to make monthly mortgage payments on a reverse mortgage. That’s because a reverse mortgage, unlike a traditional mortgage, doesn’t require the homeowner to make any loan payments. Instead, payments are made to you for the length of time that you continue to live in your home. 

The total balance of the loan only becomes due once the borrower sells the home, permanently moves to a different home, or dies. However, it’s very important to keep in mind that a reverse mortgage doesn’t let you off the hook for costs like home insurance and property taxes. 

#3: Protection Against Decline in Housing Market 

A reverse mortgage loan is insured by the federal government, and this provides you with a great deal of security. It means that if the value of the reverse mortgage loan exceeds the value of your home when that loan comes due, the federal government will take care of the difference. 

So, with a reverse mortgage, you won’t ever have to worry about owing the lender more than your home is actually worth, even if the real estate market tanks and negatively impacts your home’s value. Additionally, if, in the future, you or your heirs want to pay off the entirety of the loan and stay in the home rather than sell it, you wouldn’t be required to pay more than the value of the home. 

#4: Flexibility in How You Receive Payments 

With a reverse mortgage, the loan payments made to you can be disbursed in a few different ways. The methods in which you can be paid include: 

• Lump sum. In this case, you’d get the full amount of the loan in a single payment. You can receive a full or partial lump sum once your loan has been approved. 
• Equal monthly payments. This means that as long as at least one borrower lives in the home, the lender will continue making steady monthly payments to them. 
• Term payments. The lender will issue even monthly payments over the course of a term set by the borrower. 

Taking out a reverse mortgage is a big decision and it can often be pretty confusing for the average person to understand and navigate. While it provides a number of major benefits, it also has its downsides. There are certain fees that come with a reverse mortgage, the amount you’re required to pay back grows over time, you’re still responsible for other home-related expenses, and you lose home equity as your loan balance increases. 

That’s why, if you’re considering taking out a reverse mortgage, it’s important to consider all of the pros and cons. Do some research and weigh the benefits listed above against the potential drawbacks. If you’re still unsure, consider consulting with a financial planning professional to see if a reverse mortgage can help you in retirement. 

Matt Casadona

Matt Casadona has a Bachelor of Science in Business Administration, with a concentration in Marketing and a minor in Psychology. He is currently a contributing editor for 365 Business Tips. Matt is passionate about marketing and business strategy and enjoys the San Diego life, traveling and music. 

Adobe – or earth construction as some may call it – is one of the oldest building methods in the world. Since ever, humankind has used earth in various forms to build their homes. It has a huge number of benefits most of us modern people forgot about.

I only came to love this type of construction when working on a renovation project of an old town house in Portugal. Until then, when thinking of an earth house I had a very different picture in mind. It was something like a simple hut in an African village.

Adobe walls are naturally energy efficient and can be load bearing. Often, they are very thick, forming a natural insulation from the environmental heat or cold. Earth-based products are naturally sustainable because you are building with the materials that surround you.

Interestingly, approximately 30% of the world population lives in homes made of earth materials. That’s no wonder if you think of the many financial and environmental benefits. That’s why people like me, once we know about it, just love it. It is not only a far cheaper construction method but also has many other advantages compared with modern materials.

The composition of the adobe—or some may call it the recipe—vary according to country and local customs. Usually most of it is made of earth and or clay. Besides that, it can contain other materials like straw, maybe even small amounts of lime. Once I even read about that it can include horse hair. Not sure if this is true though.

There is even a thing they call Superadobe. It is also made from earth and organic materials heartened with lime, compressed into bags which are stacked on top of each other, each layer of bags separated by barbed wire. This method is perfect for seismically active areas.

What is adobe construction

Buildings made of Adobe are very similar to a rammed earth house. The only difference is that the earth was rammed into some sort of brick shape before it was used for the construction. Like this it is very easy to build walls with earth.

Special treatment for adobe construction

Please note that the right plaster is essential to be completely waterproof. You don’t want your wall to crumble apart after a few years. They are several products on the market that are perfect for adobe construction. We can use it for the first plaster on a new wall as well as fixing cracks in an old one. It is very important that the plaster lets the wall still breath.

Also, there can be a problem with raising damp in those buildings if they have no horizontal barrier to stop it. I saw a layer of bitumen sheet or a special plastic be put before the first layer of adobe bricks. Therefore, it is good to keep that in mind before you start building your house.

One historic local custom in my area was that the builders would leave an air gap under the house to avoid any raising damp. With some houses being well beyond 100 years now and showing no sign of any raising damp we can say that it is a truly successful method.

If you live in an earthquake zone it is also advisable to apply a net within the construction to give it better structural properties.

Adobe construction surprises

Probably the biggest surprise was when I found out that adobe was even used for the first modern architecture in Portugal. This is something I would always associate with concrete and steel.

It seems there is no limit to what you can build with it starting with simple garden walls, garages, sheds, houses and even apartment blocks.

Conclusion

Adobe Construction is naturally energy efficient and sustainable because you are building with the materials that surround you. With the right know-how it can give the same or even better comfort than a modern building method.

Bio

Our Property under 20k team are the founders of www.propertyunder20k.com and www.listproperty4free.com with the goal to search the cheapest real estate in the world and make it easy for others to find. The team is made up of landlords, real estate investors, architects and builders from several different countries.  We just love to have a good strong cup of coffee while we write our experiences in this blog.

Image by Michelle Raponi from Pixabay

So, you’re in the market for a whole apartment block? That’s exciting news. Finding apartment blocks for sale is just one click away. If you’re serious about buying some apartment units here is a good place to start to get a first idea of what your money can buy.

Later it might be a good idea to get a qualified real estate agent who knows the local real estate market and can guide you through the buying process.

They can advise you on the real estate market in your area and financing if needed. That can help you immensely to make your dream of becoming a landlord a reality. With a real professional by your side finding a suitable building will be piece of cake.
Did you know that a typical real estate sale involves more than 20 steps after the initial contract is accepted? Real estate agents walk you through each step to move toward a quick-and-easy close. Together, you’ll create a marketing plan, set the right price and get your new real estate business in no time.

Make your homework

Of course, it is always good to do some research yourself. For example, it can be interesting to look at some property records before buying as well as rental prices. Like that it will be easy for you to find out what yield you can expect from your investment.

If you want to have the least work possible with your asset it would be wise to consider hiring a management company who will deal with the tenants on your behalf.

Newly built apartment blocks for a secure future

Nobody can resist the charm of a new build home.

The plaster does not crumble from the walls, power lines and pipes do not need renovation and the architectural style usually has a trendy and modern design. State-of-the-art materials and the latest standard characterize such a new building.

Yes, buying a brand-new home can be very appealing especially if you are planning to rent it out. You will easily find tenants and beside the usual maintenance jobs there will not be much repairs to do.

A new home has advantages in many ways

A new phase of life begins with a new house and many people fulfil a lifelong dream. The likelihood of taking a risk with such a newly built house is almost zero. Freshly build houses have the great advantages:

• New buildings often consist of high-quality materials.
• New build houses mostly have the latest house technology integrated.
• They are characterized by a low energy requirement.
• A modern architectural style is characteristic of newly built houses.

The construction quality has improved immensely in recent years, so that today there are hardly any nasty surprises waiting for the owner after years of occupancy. Therefore, after buying new apartment blocks, you can sit back and relax.

The old charm apartment block

If you lost your heart to one of those old charm apartment blocks you are not alone. Although due to age and new energy efficiency laws they usually need some works before they can be properly rented but it is totally worth it. In the end you will have something truly special and unique.

Apartment blocks for sale

You are looking for apartment blocks for sale? Have a look at

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Blocks of Apartments for Sale & Rent in North America

Bio

Our Property under 20k team are the founders of www.propertyunder20k.com and www.listproperty4free.com with the goal to search the cheapest real estate in the world and make it easy for others to find. The team is made up of landlords, real estate investors, architects and builders from several different countries.  We just love to have a good strong cup of coffee while we write our experiences in this blog.

Image: Image by PublicDomainPictures from Pixabay

Whether you are a broker or a property owner, to sell commercial real estate is not what it used to be as there can be many surprises. Investors view the commercial property as an investment machine aimed to generate income. If the numbers add up, there is a possibility for a bidding war. And if not, the sale may not be that easy.

Getting yourself prepared can make a great difference between being stuck or creating a favourable property sale.  However, the best way to get started is to make the property as pleasantly engaging as possible to give prospects a great first impression. An abandoned commercial property for sale can discourage buyers, thereby affecting the sale price.

How do you want to sell commercial property?

Sell commercial real estate without a broker

While it is unusual for owners to sell commercial real estate by themselves, we cannot rule out the fact that it is possible. Some may have rich experience in commercial properties and are sure to complete the deal without an agent. Others may simply want to maximize their proceeds by circumventing the broker commission.

Whichever way, note that a lot is at stake with commercial real estate sales. Also, the process is complex to finalize. If you have decided to sell by yourself, you will be the one in charge of the entire transaction process, from listing your property to finding potential buyers, communicating with them, finalizing the paper works, inspection, hiring a lawyer etc.

Commercial property for sale using a broker

The activities involved in selling your commercial property by yourself can be hectic and time-consuming. Thus, finding a reliable commercial real estate company who has your best interest at heart can save you a lot of hassle.

They will take over all the processes and help you sell your commercial property quicker. Beyond these, they will help to determine the proper worth of your property for the current market conditions. This is saving you tons of research time.

Rather than relying only on the conventional marketing approaches, professional brokers have an established network of investors and brokers who may be interested in buying your property. They will present your property directly to these prospects, which significantly increase your chances of getting a competent buyer promptly.

You get many benefits when you employ a broker to help with your property sale. But just like with other industry, it is important you do research before deciding on a brokerage agency. Like this you get the best deal for your property.

Bio

Our Property under 20k team are the founders of www.propertyunder20k.com and www.listproperty4free.com with the goal to search the cheapest real estate in the world and make it easy for others to find. The team is made up of landlords, real estate investors, architects and builders from several different countries.  We just love to have a good strong cup of coffee while we write our experiences in this blog.

Image by F. Muhammad from Pixabay

A study reveals that people invest about 60% of their time viewing photos and 40% on the property description while buying a home. High-quality property photographs are critical to rope in real estate buyers. Photo editing services are a sophisticated way of enhancing real estate images. Image editing can cover different enhancement works. Image enhancement by Styldod allows you with services like improve colours, add elements, background removal, cropping, colour enhancement, and many more. Virtual Home staging is another way to showcase homes, where a property is decorated to display its best qualities to attract buyers and the goal of selling the home faster at a higher price. Outsourcing photo editing services will edit the images to match your taste and requirement for successful virtual home staging. Here are the key benefits of outsourcing real estate photo editing services:

1.   Cost-Effective

Outsourcing photo editing tasks can save the cost of hiring a dedicated team for editing photos, and you can get your work done at a minimum charge if you considered this option.

2.   Quality Work

Professional editors are updated with all the functionalities, features, techniques and elements of photo editing tools and software. They have the expertise to edit your photo to match your style as closely as possible and deliver quality work.

3.   Reduced Turnaround Time

Professional editors are familiar and experienced in using editing tools. Thus quick to modify real estate photos and deliver supreme quality work. Some professionals even offer “Next Day Turnaround” options. 

4. High-Quality Images

Property buyers are drawn towards beautiful images of homes they wish to buy. Clear, crisp, and top-quality increases the chances of a listing to be viewed and sold. A professionally edited real estate photo ensures High Quality finished images and provides potential buyers with a glimpse of their dream home.

5. Use of Hi-Tech Editing Tools

Using advanced tech tools can quickly transform the look and feel. Agents hosting virtual staging can maximize the value of it. Real estate agents can easily find many options for editing services and get the tasks done in their preferred ways over the internet.

6.   Huge Volume

Professional editors have enormous resources for pictures, stock images, and other elements that aid in enhancing photos and delivering a massive volume of work even in a short timeline

7.   Error-Free Outputs

Hiring a professional image editing servicing provider can rectify imperfections in photographs. They use the latest technology and advanced image editing tools. The edited images look natural and will be suitable for listing properties across multiple platforms.

Photo editing helps real estate agents gain efficiency, maximize output, and stay ahead in the competition. If you wish to get supreme photo editing services for your real estate business that can increase sales and efficiency, you can get in touch with Styldod’s photo editing services. The creative team will assist you with all your Real Estate Photo Editing requirements. 

Autor Bio:

Rahul Agarwal is the Co-founder & Chief Business Officer at Styldod, where he has taught a computer to do interior design! Styldod provides the most hassle-free & inexpensive virtual staging solutions for real estate agents so they can sell their listings faster, and for higher prices. Rahul was also a co-founder of Mebelkart (which is acquired by Ask Me). He’s your everyday IIT Kanpur nerd who pushes the boundaries with his innovative entrepreneurial stints and is also a sound startup investor & advisor. Rahul attributes his success as a professional to the discipline he has learned from his district hockey days, being a swimmer and a gym enthusiast.

You may be shocked at first but of course more than eager to pay your duties. But please don’t! This is one of the newer real estate scams that are starting to circulate.

The call about your real estate tax

This is a nasty trick where someone calls potential victims to tell them of an additional real estate tax or some other kind of fee that they need to pay. This person will tell them to pay in cash to someone who will collect the money at their home.

Please note, the tax office would never work in this way. It will never request money without an official statement, and under no circumstances will they go to a person’s house to collect money.

Residents are advised to be alert because it was reported that some individuals are posing as representatives of the tax office with the intent to scam taxpayers. 

It is sad that even in the middle of a pandemic we have to remain vigilant to don’t fall into the trap of one of the real estate scams. The best defence is awareness. So, it is good that you informed yourself – that’s the first step to don’t be scammed.

Don’t hesitate to report real estate scams

If this has already happened to you or you are suspicious about something similar please call your local police department. Don’t hesitate to do so, as this will help others to be alert as well.

Of course, you can also call your local tax office if you like to confirm your real estate tax. 

Bio

Our Property under 20k team are the founders of www.propertyunder20k.com and www.listproperty4free.com with the goal to search the cheapest real estate in the world and make it easy for others to find. The team is made up of landlords, real estate investors, architects and builders from several different countries.  We just love to have a good strong cup of coffee while we write our experiences in this blog.

Buying or to renting a place to call home is one of the questions on many people’s minds at a certain point in life. If you are settled in a place with a good job and can foresee yourself staying there in the nearest future, would it be more advantageous to continue to rent or take out a mortgage?

The answer generally depends on individual’s choice, as you may have different values to the usually home buying route. Of course, there are benefits to renting a house, but the advantages of buying supersede that of renting. It gives you a sense of security and satisfaction in having a place to call your own – permanently. With that said, outlined below are a few key benefits you enjoy when you buy your own home as against renting.

1 – Equity building

One major benefit of buying a home is in building equity. As you make your mortgage payments, the amount of money you owe on a home reduces. And the more your home value increases, the more money you save. You can even consider mortgage as a forced savings plan. When you pay rent, you are technically making someone better off by paying their mortgage and building up their equity. Of course, renting can initially be cheaper than buying a home, but many see it as throwing money down the drain. If I may ask, why do you want to be building savings for someone else when you can contribute towards your own investment?

2 – Modify to taste

It is always fun to create a living style that is all your own. As a homeowner, you can always make changes to your home to suit your taste and preference. You can renovate, customize, and paint the walls any color you wish etc. In fact, there won’t be anyone to tell you what you can and cannot do. But if you rent a house, you are always at the mercy of whatever the homeowner will allow you to do.

3 – Unparalleled stability

The stability you experience when you have your own home is unparalleled. You understand that if you lock in an interest rate your payments remain constant. If you rent, you have no control over the increments in rental payments. The property owner may evict you or even sell the home from under you at will.

Final thought about buying vs renting

Renting a home can be a great place to start. But when you buy your own home you have a sense of permanence, and it also contributes positively to your financial future as you are constantly building equity. Additionally, buying a home provides security for your family knowing that they have a place to call their own.

Selling overseas real estate to an international pool of clients is a completely different game all together. You know better than anyone that this means to get your property in front of your ideal client in their home country.

Selling overseas real estate – How can you possibly do that?

It can be a mine-field when trying to create an effective strategy when you are marketing your property online. What website will the possible buyer look at? Is there a website where you can offer your real estate to the whole world? Of course, almost every website can be visited from all over the world but would it be popular enough in the country of your ideal client?

1 Get the right real estate portal that is specialized to promote to international clients

In fact, the services of many huge website portals only available to the country they are located in. Realtors with international listings usually are not allowed to list them. Even if one allows it, their focus is not on helping real estate agents to promote to an international audience.

Check out one of our property portals that not only performs extremely well but also will put your ad on a world map, making it easy for international buyers to find it.

Register with them and benefit from a range of services that will help you buy, find, sell or rent international real estate.

If you are looking for overseas property yourself but you are on a limited budget, check out this website https://www.propertyunder100k.com/ and find lots of bargains below 100k.

2 Use a sales platform that is internationally known

There exist platforms that facilitates the sale of real estate between third-party buyers and sellers. This is a very good way to get good leads. One example would be eBay. Maybe it is not available in your country or the real estate section is restricted but once you have an account in eBay you easily can use it on eBay sites of other countries.

Another good website were you can list your property is https://www.listproperty4free.com/

3 Use Social Media to promote your overseas real estate

Probably you heard this many times – no matter what you want to promote – use social media. Used in the right way you are no beating in the air but actually getting some real results. Actually, it might be even easier to find the right audience for your property. In Facebook for example, you can enter your real estate in the market place and promote it in related groups. And the best of all, it’s all free. Just takes a bit of your time.

4 Make the best impression

I can’t stress this enough. When selling overseas real estate, the first impression – which will probably be when someone looks at your ad – is the most important. By this someone might decide to make contact and come for a viewing. How can you do this?

Present your property in the best light, tidy up, declutter do what it takes to give a great feel to the place and very important – do professional photos.

That’s making a good impression from a visual point of view.  Also, put some work in an appealing text to describe your real estate. Mention the best features of it and it’s potential. Especially in an overseas real estate it makes sense to tell a bit about the lifestyle too.

5 Be flexible with payments if you can

Sometimes it is already hard enough to get a mortgage for a first home. If you like to get something abroad it gets even more difficult. Therefore, you will have more possible buyers if you can be flexible with your terms of payment.

Image: Image by Gerd Altmann from Pixabay

When it comes to home improvements, there are some that surely will last a lifetime.

Home Improvements

Sitting in an apartment that was built when I was born, I wish the builders already had thought about some extras instead of going for the minimum standard.  But on the other hand, I probably would not appreciate some changes as much. Although it’s impossible to predict the future there are a few enhancements that surely will give more comfort, sustainability and even increase the value of your home. So, no matter if you’re ‘dwelling or selling’, here are some areas that are a safe bet.

Windows

By replacing old windows with high-quality double-glazing windows, you are adding energy efficiency along with security to your home. Needless to say, it makes your house so much more comfortable, they look good and sometimes they are also easier to clean – depending on how your old windows looked like. This is definitely something you will love.

Heating

Did you know that upgrading a home’s boiler and heating system has the highest return of investment when it comes to increasing a property’s value? At the same time, it is even more cost-effective than other renovations and refurbishments.

Best is to combine the fitting of new heating equipment with other improvements, such as replacing old windows, sealing the entrance door and insulating the roof. In doing this, you can see your energy savings begin to show.

Electrical

Extreme temperatures can put an extra burden on your home’s electrical system. If yours is already older it would probably be a good idea to have it inspected and at the same time the electrician can advise you on electrical improvements you can do.

Getting the right lighting in your real estate is not only saving electricity but it also puts your home in the right light. With the right light fixtures you can cater for the right mood and set an ambience everybody loves.

No-Cost Home Energy Upgrades

Some countries help homeowners to make energy saving upgrades. Whether you rent or own, you could be eligible to receive free energy-efficient home improvements or get some financial help. It surely is worth to look this up in your country before you start your home improvements as this can really make a big difference in your budget.

Are you still looking for your own DIY project? Have a look at homes for sale that need renovations on https://www.all-real-estate.com/derelict-properties-for-sale

Or you just finished your hoome improvemets? Let us know how did it go in the coment below. If you are thinking to sell it, you can list it with us for free.

Image: Image by Pexels from Pixabay