Buyer Vs. Seller: Who Has The Upper Hand in Phoenix Multi-Family Real Estate

Phoenix is a great city with plenty of fantastic places to live, and it has so many great features. Metro cities have been known for being some of the best places to invest in multi-family properties but is that true for Phoenix? Keep reading to see if the multi-family real estate market is better for buyers or sellers in Phoenix.

What is the multi-family real estate market like in Phoenix?

Phoenix has one of the best multi-family home markets in the entire country, and it was one of the few that managed to thrive through the COVID-19 pandemic. Experts believe the fantastic location and ever-growing economy are the main factors that have led to such steady income growth. 

In early 2022, the market slowed down slightly, and there was also a decrease in construction, which means there will likely be fewer units delivered this year. A reduction in construction could be due to many factors, but things like high inflation rates, rising gas prices, and a high cost of building materials are the likely reasons. Experts predict that these issues won’t be resolved anytime soon, which means the units on the market right now might end up being in high demand next year. 

Another factor that has helped the Phoenix market is its great employment rate. The unemployment rate has continued to decrease slightly over the last few years (just 2.4% in March, which is lower than the national average of 3.6%)as more and more jobs come to the city. The extra jobs have also brought in people from other parts of Arizona to the area, and the employment rate is likely going to keep rising, which means homes will be in high demand.

Multi-family real estate has shown an increase over the last year, but there could be a slight hiccup with the planned interest rate hike that has many investors worried. This hike will likely affect those who have riskier investments (such as a multi-family building in town with higher homeownership percentages or low rental rates) or those who want to unload their properties in poorly performing markets. Luckily, the housing market in Phoenix has held such a steady rate that the interest rate hike won’t hit as hard as it will in other cities. 

What does the market look like for the rest of 2022?

According to the statistics for Q1 and Q2, the market will likely level itself out, but the current rising inflation rate (which has hit Phoenix hard with about 11% CPI) will make it harder for people to finance a house. This means rental rates could end up rising as people sell off their homes for a less expensive place to live. 

The current average mortgage rate sits around $2,100, which is much lower than the average rental price of about $1,600 for a two-bedroom apartment. The median household income is about $67k, while the amount needed to afford an average mortgage is about $87k. With rising inflation costs and gas prices, it’s unlikely that the median income rate for the city will have a significant jump anytime soon.

It’s becoming much harder for people to afford a new house or maintain the mortgage payments on their existing homes, so apartments and condo sales could possibly see a boost in the last half of the year. Over twenty percent of millennials (who are reaching the age where homeownership is usually achievable) have said that they don’t expect to own a home within their lifetime. 

Buyers or Sellers: Who has the upper hand?

When it comes down to it, those who are buying multi-family homes have a significant advantage right now. The prices are much lower in Phoenix than in many other cities around the country with a similar size. The city is going to continue to grow and thrive, so your investments are less likely to turn sour and end up costing you money. 

Apartment buildings in the area vary quite a bit when it comes to price and size, but there are quite a few available. People in Phoenix are looking to rent over buying, so now is one of the best times to get into the multi-family property game.  

Rental rates have also risen over $100 in the last year, with rates being around $1400 in 2021 and now hitting close to $1550. Another good sign for investors is that the percentage of renters renewing their lease has also risen, which shows that people are choosing to rent for a longer time. Overall, the Phoenix market is as hit as its summer temperatures, and it’s one of the best times for investors to take a good look at some of their exceptional multi-family real estate properties. 

Multi-family real estate is a great way to earn a bit of extra income while building your investment portfolio. Phoenix has become a great place for investors, and the market is excellent right now for anyone who is looking to buy. Have a look at some of the great multi-family homes on the market right now to see which one suits your investment needs. 

Author: Shannon Quantock

3D Printing Houses: The Future of Home Construction

3D printing is a technology that has been around for many years. However, it is only recently that the potential of 3D printing has become apparent. 3D printers have moved beyond being able to just print three dimensions, and are now capable of printing pretty much anything. With this in mind, one team of architects has come up with a new way to use 3D printers to construct homes – instead of building them from traditional materials like wood and concrete. The firm is called New Story and they’re about to use a new type of 3D printer to build the world’s first printed-and-collated houses. Their plan? To use 3D printers to build homes from dirt at a fraction of the cost and time it takes to construct a home using traditional methods. Let’s take a look at how this will work…

3D Printed Homes: The Basics

Essentially, New Story’s 3D printed homes will work in two ways: the company will first construct partially underground modules using a combination of earth and recycled materials. The partially underground modules are then transported to their destination and finished off, with the earth and recycled materials used to fill in the gaps between the modules. The result is a fully habitable house. The modules themselves will be constructed using a combination of the latest 3D printing technology and a technique known as “contour crafting.” Contour crafting involves a robotic arm that sprays concrete and earth inside a custom-built frame. The combination of 3D printing and contour crafting will allow New Story to construct these partially underground modules with minimal human involvement.

What will New Story’s homes look like?

New Story’s 3D printed houses are expected to be made from a mixture of soil and recycled materials. This will result in houses that are much cheaper to construct than traditional homes, and that are much more environmentally friendly. There even some penthouses for sale, the dirt used to build these homes will come from excavated ground up to 100 feet beneath a given site. This dirt is expected to be rich in minerals, including potassium and calcium, which are essential for growing crops. The harvested soil will then be mixed with a combination of recycled materials (such as repurposed plastic), to create a soil mixture that is suitable for building.

Will People Be Able to Live In These Homes?

The short answer to this question is yes, absolutely. The longer answer is that the dirt used for these homes has been tested and is safe to live in. The dirt used to build New Story’s 3D printed houses has been tested to make sure it’s free of pathogens and other harmful substances. It has been found to contain a relatively high amount of potassium and calcium, which are essential for the growth of crops. The dirt itself is completely harmless, but New Story will be mixing it with recycled materials. So, while the houses themselves will be completely safe to live in, it is necessary to test the soil/recycled mixture thoroughly before it is used to fill the gaps between the modules.

Why Build Homes With 3D Printed Dirt?

New Story has come up with the idea of using 3D printing to build homes from dirt as a way to tackle the global housing crisis. More than 100 million people are without a home, and many of those are living in dangerous and unhealthy conditions. The New Story team has come up with a solution to the housing crisis: 3D printing. By 3D printing homes from dirt, New Story is able to construct fully habitable houses for a fraction of the cost and time required to build a traditional home. Dirt is cheap, and it is also quick to work with. This means that New Story can construct fully-finished houses in a short space of time, and at a much lower cost than if they were constructing from more traditional materials.

Where Will These 3D Printed Homes Be Built?

New Story is planning to build their first printed-and-collated houses in El Salvador, where many residents live in dangerous, unhygienic conditions. The team at New Story has partnered with the staff at Fundación Hábitat para el Desarrollo Sostenible (FHDS), a nonprofit organization that specializes in sustainable building practices. FHDS will help New Story to identify a site for their first 3D printed homes.

3D Printed Homes Are Affordable and Eco-friendly

When it comes to building houses, the first thing that comes to mind is the cost. However, New Story’s 3D printed homes are expected to be very affordable. As previously mentioned, dirt is cheap, and there are no hidden costs with the construction of these homes. This means that New Story can keep the costs down for their clients. These printed-and-collated houses are also eco-friendly. By using dirt to construct the homes, New Story is able to avoid using natural resources that are in short supply. The team at New Story is also careful to use the correct proportions of recycled and natural materials when constructing these homes.

Final Thoughts

For many years, architects and engineers have been itching to get their hands on 3D printing technology. Now that 3D printers are more advanced than ever, they have the potential to revolutionize the construction industry. New Story’s 3D printed homes are expected to go a long way toward solving the global housing crisis. The printed-and-collated houses are expected to be very affordable, and they are also eco-friendly. We can expect to see the first printed-and-collated houses begin construction in El Salvador later this year.

Author: Laura Watson

7 Best Tips for Residential Property Investment

When you invest in a rental property, it becomes your source of income. But, to get that kind of return on your investment, you need to take certain measures. Residential property investment is not easy at all. There are many risks involved and one needs to keep that in mind before they start their investing journey. This article will give you some insightful and useful tips on how to invest wisely in residential properties so that you get the most out of it.

Know about the market and its requirements

Before you start investing in residential properties, you need to know what the market demands, what are the demographics of the area, etc. This will help you evaluate the real estate and find out the right price that you can invest in. Such factors as the supply of the property in the market, the demand for it, the condition of the property, the location, etc. will help you decide the best area to invest. You can get information on such facts from the government’s website, or you can hire a real estate agent / consultant to find out the market trends in your area. However, there are many real estate agents in the market but you should only go for the best real estate consultants.

Define a budget and research well

Before you start investing in residential properties, you need to define a budget. You can choose any type of property for your investment, but it has to be within your budget. Make a research on the location, rental income, maintenance cost, etc., so that you can predict the future of your investment. There are many ways to calculate your budget. If you are a newbie in the market, it is advisable to use a rental cash flow calculator, so that you know how much profit you will get from your investment. Also, keep in mind that you might have to spend a little more than you expect to repair or maintain your property. It is always better to set aside a little more money for your maintenance cost, as you never know when you might need it.

Don’t just look at the ROI

Don’t just look at the rental income and ROI. You have to take in account other things like repairs, utility bills, etc. You have to be ready for all of them. Your property might incur a few damages, and you have to repair them. You also have to pay for your utility bills, i.e., water, electricity, internet, etc. So, don’t just look at the rental income as your profit. In order to avoid such financial problems, you have to have a contingency fund. It is better to keep 10% to 15% of your total investment in your contingency fund. That way, you will be able to take care of any expenses that might arise while you are managing your investment.

Check your lease agreement before signing

Before you sign a lease agreement with your tenant, you have to make sure that the terms and conditions are in your favor. This is the most important thing while investing in a residential property. If you want to get an advantage out of your investment, you have to make a lease agreement with your tenant. You have to be very careful while making a lease contract with your tenant. You have to make it clear that they have to pay you a certain amount at a certain time. You have to put some consequences in your lease agreement if they fail to pay or violate the terms and conditions of your agreement.

Hire a trustworthy property manager

You can find out about the best residential property management company in your area say property dealer in DHA Islamabad etc. If you want to get the best out of your investment, you have to hire a trustworthy property manager. They will help you manage your investment, i.e., collect the rent from your tenant, make necessary repairs, and maintain the property. You have to make sure that you hire a property manager who is reliable and trustworthy. Also, you have to make sure that they are licensed, bonded, and insured. This will help you get the most out of your investment and avoid any problem while managing your property.

Be cautious while signing the lease contract

Lease agreements are valid for a certain period of time after which your tenant has the right to renew it or end the agreement. You have to be very careful while signing a lease contract with your tenant. Make sure that they are reliable, they have a good credit score, and they are capable of paying you the rent on time. Always check their references, so that you can be sure about their credibility. If you are dealing with a new tenant, you have to be very careful. Make sure that they have the capacity to pay their rent on time. You can ask them to pay the first month’s rent and the security deposit.

Be flexible with your investment plan

No one knows when there will be a slump in the market. So, it is better to be flexible with your investment plan and ready to take a hit or a loss. You have to be prepared for the worst situation, as with every investment, there will be certain risks. There will be times when your investment might not be doing well, i.e., the market might be slow, tenants might not be paying their rent on time, repairs might be necessary, etc. But, if you are ready to take a hit or a loss, you will be able to tackle the situation in a better way.

Summing up

These are some of the best tips for residential property investment. If you follow these tips, you will be able to get the most out of your investment. Residential property is not easy to manage and requires a lot of patience and effort. But, once you manage to get the best out of it, it becomes your source of income for the rest of your life.

Author: Laura Watson

Three green energy sources and why they are better for the planet

As the world continues to heat up, the effects of climate change are becoming more and more evident. One of the most noticeable changes is the increased frequency and severity of natural disasters, as well as rising sea levels, which are threatening coastal communities and ecosystems. It’s clear that we need to take action to reduce the harmful effects of climate change, and do everything we can to protect our planet for future generations – but how can we do it?

One way to make a difference is to consider where our energy is coming from. There are many ways to generate electricity, but some are better for the planet than others. In general, green energy sources are renewable, produce little or no emissions, and have a smaller ecological footprint than their fossil fuel counterparts.

Here, we take a look at three green energy sources and explore why they’re crucial to saving the planet.

Solar

Solar power comes from the sun, and is captured using photovoltaic cells or solar thermal collectors. It is a clean energy source that can be used to generate electricity or heat, and is good for the planet because it doesn’t produce any emissions or pollutants during generation. Solar power is renewable, meaning it will never run out.

In addition, solar power is an efficient way to generate energy, and it can be used to meet a wide range of needs including powering homes, businesses, and even cars. It’s a great way to save money on your energy bill, and it can help to reduce your carbon footprint.

Wind

Unlike fossil fuels, which release harmful emissions into the atmosphere, wind power is a clean and sustainable source of energy. In addition, wind power is one of the most efficient forms of renewable energy. On average, a modern wind turbine produces electricity around 70-85% of the time. This means that wind power can meet a significant percentage of global energy demand. 

In addition, wind power is one of the most cost-effective forms of renewable energy. The initial cost of setting up a wind farm may be high, but the price of wind energy is very stable, making it a reliable option for powering homes and businesses. As the world looks for ways to reduce its reliance on fossil fuels, wind power will become an increasingly important part of the global energy mix.

Hydroelectricity

Hydroelectricity is a type of renewable energy that is generated by water. The movement of water creates kinetic energy, which is then converted into electricity. It’s renewable, clean and efficient.

Hydroelectric power plants can be built in a variety of locations, making it a versatile source of renewable energy. They are usually built near dams, using the water from the dam to rotate turbines that generate electricity. This makes it a very reliable source of energy, as dams can store large amounts of water to generate electricity even during times of drought.  In addition, hydroelectric dams can help to control flooding. Given all these advantages, it is no wonder that hydroelectricity is one of the fastest-growing sources of renewable energy in the world.

Author: Hubert Day

What can landlords do to reduce water waste in their properties?

Being a landlord has always meant treading a fine line between having happy tenants and also keeping costs to a minimum. But now, with the rising issue of the climate crisis, there is the environment to consider as well. 

Whilst it might feel like water waste is a minor problem compared to fossil fuels, every bit of water that goes through the treatment system requires energy to power that factory, as well as chemicals to clean the water. By reducing the amount of water we’re wasting in the first place, it cuts down on these other elements further down the line.

But as a landlord, you’re unable to control how much water your tenants use. So how can you cut down on water waste in the properties that you manage? We take a look.

Install low-flow systems

Reducing the water flow of the biggest culprits like showers and toilets is a good way to reduce water usage at the source. Whilst your tenants might initially grumble a little about the reduction in water pressure, they’ll soon get used to it, and will enjoy the decrease in their bills too. If they’re very reluctant, you could negotiate a trial basis, and ask them to let you know after 6 months if they really aren’t happy. 

There are two different types of low-flow showerhead: aerated and non-aerated. The aerated option adds air to the water stream, creating a soft, misty flow. Non-aerated uses smaller spray holes, reducing the amount of water coming out, but increasing the pressure by forcing it through the smaller gaps.

Maintain the pipework

Whilst a dripping pipe might seem more like an annoyance than a big water waste issue, more than 3 billion litres of water is lost due to leaky pipes. By completing regular maintenance checks, and encouraging your tenants to report any issues to you, you can keep the pipes working as they should. As a landlord, keeping the property in good working order is ultimately your responsibility – be sure to encourage your tenants to let you know if there are any problems so that you can act swiftly.

Between tenancies, make sure that the taps, shower and other water-using items are turned off, and then check the water meter. If it’s still going up, then you may have a leak somewhere.

Consider a dishwasher

Whilst dishwashers seem like they will use vast amounts of water, the truth is that they can actually be very efficient when they’re used effectively. In fact, some dishwashers are four times more efficient than washing by hand, so installing one in your rental property might go some way towards reducing your water usage.

However, you’ll also need to account for the extra energy that a dishwasher uses. Remember that even though it feels like this machinery will use more than running the tap, you’ll still need to use some form of energy to heat up the water that comes into the sink. Overall, dishwashers are still an efficient choice, even if you only have the space to install a slimline model.

Author: Hubert Day

Photo by Bluewater Sweden on Unsplash

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Selling For More: 5 Easy-to-follow Tips

Getting into the real estate business is not easy. Fluctuating property markets, the time-consuming legal process and convincing clients can be really stressful. It takes a lot of effort and hard work to become a successful realtor, from installing wall signs to networking with other brokers. However, once you master the art of selling, consider yourself halfway to your goal. If you want to learn how you can convince people to invest in a property and be able to sell it for more price, here are five easy tips that will help you to lock the deal:

Get Everything Fixed:

When a client visits or inspects a property for buying, they are actually looking for loopholes. This gives them the opportunity to start their negotiation. Broken doors or windows, a hole in the ceiling, pipe leakage or any other flaw will be enough for them to ask for a price reduction. If you want to sell a house for more cost, please ensure that everything is fixed already.

The appearance of the place should be inspiring enough to meet your demand. Convenience is something that we all love, and what else could be better if we could find a perfectly ready to use space even at a little higher price?

Focus on Listings:

One of the major disappointments that clients have when they visit a property, is its virtual portrayal and reality. You must be careful with your listings. Avoid using superlative phrases and terms that do not match with anything in the house. Keep things as real as possible to ensure that clients settle for the price you have mentioned online and there is no room left for the negotiation. Carefully written listings can help you sell for more!

Avoid Overpricing:

The real estate market is the buyer’s market. If you can make the buyers happy, the selling process becomes easier. Even if you want to sell the property for a relatively higher price than its actual value, avoid getting overpriced. Make sure what you are asking for is also meeting the condition of your property. It is an instant turn off for the buyer if the house looks old and its price equals a new apartment. Keep things real even if you want to lock the deal at a higher price. If you are not satisfied with the buyer’s demands, consider delaying the sale for a little longer.

Don’t Be Pushy:

The way you negotiate with the client greatly increases or decreases the property’s value you are trying to sell. If you are too pushy or trying too hard to convince the client to make the purchase at that particular price, you are actually pushing them away and might cause suspicion regarding the property. Therefore, just wait for the response when you are done with the initial discussion with the client.

Know Your Client:

Make sure you know your client well. Keeping the price that will fit your client’s budget will help you finalise the deal. Besides, the house you are trying to sell to them is according to their needs and demands. If your client is specifically looking for a property like yours, they will be more willing to pay the price you will demand.

The real estate market is highly competitive. However, if you follow these tips, you will be better equipped to persuade your client and sell the property at the price of your choice. Make your selling approach all about your clients; try viewing the property, listings and pricing from their perspective to develop a marketing strategy.

Author: Aliza Zulfiqar

Start selling your property today – list it for free.

5 Handy Home Water Damage Restoration Hacks That Everyone Should Know

A house can be severely water damaged by either leaking pipes, broken sewer lines, or natural disasters such as typhoons that can bring about flooding.

Regardless of the reason, it is vital to find the source of damage as quickly as possible to avoid further havoc. You may inspect the presence of bubbles on the walls or listen to any water dripping sounds.

Assessing the damage can be pretty tricky. Getting rid of the excess moisture or removing the musty smell can be tackled lightly. However, there may be destructions that are significant and need professional help. Therefore, proper evaluation is essential.

The best tip to get yourself organized is to have an established plan. And you don’t need to fret as we’ve rounded up five handy water damage restoration hacks for you listed below.

1. Locate where is the water source

It is essential to locate the source of water destruction.

And there are three categories of water damage. The first type is clean water damage. The source of which usually includes broken pipes or water supply lines. Check for any dripping water under the sinks, bathtubs, etc. Sometimes if the problem is small, you may need professional sound detection equipment for extra help. Although this type of damage does not raise a significant issue, it is still equally crucial to stop it to prevent further destruction.

The second category is gray water damage. The sources include appliances such as washing machines and toilets—the restoration of things damaged with gray water needs disinfection.

The last and the most extreme kind of water damage causes severe health hazards. Blackwater damage includes broken sewage and rising floodwaters. This type of damage would require deep cleaning and a strict sanitizing procedure.

2. Water damage safety

Once you’ve secured and found the source of the water damage, make sure to guarantee home restoration safety.

Safety hacks may include finding a temporary place for the whole family and your pets to stay while completing the home water damage repair. Do not forget to switch off the electricity to prevent accidents such as electrocution or igniting a fire. If you need to call an electrician to check if those submerged sockets are still okay to use, then do so.

Next, inspect your drywalls and assess if they need to be changed. Secure a space to avoid accidents if ever the plasters above become too heavy and fall.

Remember that there are some restorations that you can easily do on your own, and there are also some that need professional help. There is nothing wrong with keeping your options open.

3. Inspect for hidden moisture

After emptying the cupboards and removing all the hazards, the next thing to secure is better circulation inside the house.

Open the doors and windows in every room to improve circulation. When it’s safe, use your electric fans too. Lastly, if you can acquire one, using a large-capacity dehumidifier can do both tricks of drying up excess moisture and, at the same time, removing any unpleasant smell.

You might rethink your flooring option if you have a wooden floor. To avoid the same problem in the future, maybe use ceramic flooring or vinyl moving forward as they are both known to be very resistant to water and moisture. Stay away from using laminate as this one, on the other hand, is more susceptible to damage when wet.

4. Repair or replace?

As you start removing the excess moisture on every corner of the house, remember to segregate things that you can still repair from items you cannot salvage anymore.

Combining one part of bleach with ten-part water will remove both the smell and harmful bacteria from soiled clothes. Specific fabrics, however, may need particular care too. Therefore, asking for help from your professional dry cleaner can help tremendously.

You may also want to contact your insurance company and have a professional assessor help you decide whether to repair or replace a specific place in the house or a piece of furniture. Having a professional inform you of how much you would need to spend on this home restoration could help you decide strategically and work on your budget with a clearer perception.

5. Check if the damage is too much or not

Like any house improvement, there are times when you no longer have a choice but to let go of things if there is already too much damage. Restoring a very soiled sofa might be more expensive than getting a new one. After all, an updated list of furniture is probably the best way to go in circumstances like this.

After experiencing terrible water home damage, it allows you to plan for whatever you will get and place inside your home in the long run. Probably, a leather sofa is more durable than fabric couches. Maybe it is about time to get moisture-resistant rugs or carpets that provide high tolerances to stains.

Check for any presence of molds, and as soon as you find them start scrubbing with bleach and a brush. Doing so prevents your other unaffected furniture from getting further destroyed.

The moment you notice significant damage on an item, you cannot undo it anymore; just let go.

Author: Andi Croft

Healthy Building – A Post-Pandemic Office Reality

According to research conducted at the Census Bureau, 44.1% of employees earning between $75,000-$99,999 annually switched to telework because of the coronavirus pandemic, while 67.5% of the people earning between $150,000-$199,000/year did the same thing. For those earning anywhere between $50,000-$74,999/year, the percentage of telework employees increased by 32.1%. As you can see, more than a third of the United States population switched to online working this year. Telework has become the new routine, so how will going back to the office look like?

For most employees, going back to the office comes with many changes. Since this pandemic changed many variables, the office buildings will keep up with the “trend” and change accordingly. Convincing people to return to the office can only be done by challenging office buildings – the new offices must be redesigned to bring a level of comfort to each and every one of a company’s employees. That being said, let’s check how the post-pandemic office reality looks like.

Short-term changes

Many changes will take place throughout the next months. However, these are some of the short-term things that companies could think of for now.

Meeting spaces

How will employees gather together in one room and discuss important work-related issues? Will they agree? According to office building-developer Ben Tranel, companies will rethink meeting spaces. Employees won’t feel comfortable meeting in small rooms anymore, so wider conference rooms will be necessary. In the meantime, some of the employees might agree to attend meetings in person while others will prefer to join meetings from home.

New cleaning protocols

Without a clean workplace, people won’t return to work. Today, hand sanitizers and handwashing have become a widely discussed topic. Offices will want to make employees feel safe, so new cleaning protocols will be put in place. For example, desks will be wiped down with disinfected wipes every 30 minutes and every room will contain at least 2-3 hand sanitizer recipients. Conference rooms will be cleaned thoroughly after every meeting and reception desks will be sanitized correspondingly. Social spaces will also be cleaned several times throughout the day.

Indoor air quality

One of the most common ways of resolving the air quality issue is installing UV lights to any air handler within the building. This will improve the air quality and destroy any type of bacteria that might be circulating in the air. Purified air is a short-term solution of the present and could definitely be improved. With technology developing at such a fast pace, future solutions will be quickly found.

Better safety measures – displayed

Making employees feel safe is another important method of getting them back to work. This is why new safety measures should be displayed inside every building. The health-related information should be communicated via text or video in elevators or corridors. By being constantly exposed to the reassuring information, people will know that they’re safe within the workplace.

Long-term changes

The new office moves past the point of ‘trial’ to the point of implementation. This is when further changes will be promoted. The average expectation for such projects should be anywhere between one and three years.

New air-filtration systems

As I mentioned before, the air we breathe is extremely important when we’re talking about a pandemic. Looking at new ways to design the air-filtration systems within an office building is the next logical step. Technology allows us to bring more fresh air into the office by using operable windows. This new concept will be adopted by many companies.

Bigger outdoor spaces

Companies will also redesign the workplace to include more outdoor spaces. One option could be designing rooftops to offer employees wider spaces to disconnect or socialize. Another option could be redesigning terraces and expanding them to ensure that workers have enough space to social distance. These areas provide people with increased access to fresh air, which might determine employees to return to work.

Biophilic designs

Bringing more plants into the office will help increase positivity within the office. Plants create a safe space for employees and enhance creativity and imagination. Bringing plants indoors and thus, implementing a biophilic design can be of incredible help. Research has shown that such designs can decrease stress levels and fasten illness recovery. 

Rethinking floor plans

Another important aspect of the updated, post-pandemic building will be floor plans. While most offices have an open floor plan today, this concept will change. Building forms will be altered since most companies will strive to de-densify offices and reduce employee interaction.

Wrapping Up

Companies will always find great solutions for their employees. The most important thing is that people should return to the office. We are social beings and we’re in high need of communication. This can only be done in an in-person environment, where safety and security are well-maintained.

Author Bio:

Eliza Sadler is a professional journalist with extensive experience, 4 years. She also works as a freelancer for a professional writer service. She always focused on doing quality work to achieve her goals and objectives. Eliza is fascinated by the ability to create original works that meet high standards. Feel free to connect with her on email.

Image by Ylanite Koppens on Pixabay 

10 Essential Tips for Real Estate Investment from Professional Investors

The real estate industry is always competitive, and it is often really hard to make your mark and be known as a successful real estate investor. It takes years of experience and vigilance to ensure your success in this arena. Also, you can seek guidance from some successful real estate investors to understand the tried and tested tactics of successful investment. According to Dubai Real Estate Corporation, here are some essential tips for you that will help you with the basics of successful investment plans:

  1. Start with a Plan:

When you step into the real estate market, prepare to have a lot on your plate. You cannot manage it all without a plan, from keeping track of the latest listings to knowing about potential investment localities. You must pen down every detail, for example, how many properties you should own, when to upgrade, the estimated amount you get from rentals, how demographical changes can impact your investments, etc. Be the man with a plan!

2. Understand the Market:

Keeping an eye on the market is crucial. Which properties are in demand, which ones will get attention in the near future, what are the trends, residential or commercial properties are worth investing in currently, and there is a lot that you have to keep track of. This will help you get hold of potential properties timely before anyone else can lock the deal!

3. Honesty is the Best Policy!

The older this cliché gets, the more practically applicable it becomes. Although you do not sign an oath or are not required to follow any particular code of conduct, being honest with your clients adds to your reputation in the market. People prefer working with a broker who has transparent working strategies and abides by certain social ethics. If you want to win the trust of your clients, be honest with them!

4. Choose a Niche:

The real estate market is vast. You cannot be a jack of all trades. It takes time to build an understanding of the processes involved in making the deal. It would help if you chose a niche where you want to continue working. Choosing one particular area of the real estate market enables you to get in-depth knowledge about it.

5. Networking:

Having strong relationships and connections in real estate energy is essential for your success as an investor. Dealing with associates, clients, business partners, and fellow investors politely, professionally, and respectfully is necessary.  Try responding to every complaint or feedback of your clients to understand the demands better.

6. Keep Your Information Updated:

If you want to keep up with the momentum of the market, keep your information updated. Stay educated about the changing trends and legalities regarding the buying and selling of properties in your area. Keep yourself aware of everything that can impact your business directly or indirectly.

7. Beware of the Risks:

To simply put, you should not rely on advertisements regarding investment plans. The advertisers will give you the impression that there is no possibility of loss if you buy a property in a particular area. Still, you must rely on your sources to get accurate information. Once you know how the market works, it will be easy to reduce the chances of loss.

8. Get an Accountant:

Dealing with taxation is a significant part of being a real estate investor. Get a qualified, experienced, and reputable accountant on board. They can help you get through the complex process of calculating and paying taxes rather effortlessly.

9. Get Help:

If you are new to the market, do not shy away from seeking help from an experienced investor. You can also start your business by partnering with someone who has sound knowledge and a deep understanding of the real estate market and can help you have a good start.

10. Maximizing the Real Estate:

Try different ways of increasing your investments. For example, you can rent out a corner of your property to a bank for installing an ATM. Likewise, if you have an apartment complex, you can add services like garbage picking and an additional fee for it with the rent. Keep looking for new ways of making money from your currently owned properties.

These tips will surely help you with your career as a real estate investor.  

Author: Amber Roy

Top 5 Tips For Building Your Own House In Spain

You want to settle down in Spain and are hoping to build your own house. However, you don’t know how to go about it. This is a common scenario for many people, and in the quest to find how they can build their own house in Spain, they only get more and more questions. Questions about the cost, architects, other pitfalls, and dangers start to arise, which may be discouraging. Of a truth, it is pretty risky and also very daunting to go into building your house in Spain without knowledge of the regulations, landscape, and culture. So you may need to take your time before commencing the project. 

However, it is possible to achieve this goal. You may not do it personally, but you have the option to plan your home, design it, and also get the right people to help you build it. This is your most probable option, but there are a few tips you must note. 

1. Choosing the land 

You need to carry out several research to get the perfect plot of land for your new home. However, it is crucial that you can differentiate between the different types of land because there are some lands that you can’t build on. 

One common type of land you will come across in Spain is “suelo rustic.” These lands often lack necessary amenities such as drainage, water supply, electricity, etc., making them unsustainable for building. On the other hand, the “suelo Urbano” is the ideal land to build on. This is because it is urbanized and already has many basic provisions, and is also on the plan for urban development. Additionally, you must be paying attention to some of the other parameters like buildability (maximum m2 your house can occupy) or percentage of occupation (the part of the land that can be occupied with a building). 

2. Seek expert advice

After selecting the land plot for the building, the next step is to seek expert advice. For example, you may want to contact an architect to help you examine the land ‘in situ’ and check out the different possibilities – the orientation, land slope, good access, and if the surface is suitable to build on or it’s the ideal size, etc. 

The architect will give you a general estimate of the cost of the building, which can help you establish the initial contacts with banks so you can propose a mortgage. You will also be taking charge of the construction works. It is also recommended that you have a lawyer around for legal advice at different stages of the building process and before you take each step. 

3. Preliminary steps

A crucial preliminary step to take is visiting the Land Registry to request for “nota simple.” This is a brief legal report about the property (which may be a land plot, storeroom, garage, etc.) and will help you confirm that there are no previous debts or charges on the land before you purchase it and start building on it.

The next thing to do is contact the cadastre to get a graphic and descriptive cadastral certification. This will make it possible for you to check and confirm that the information on both registers is the same. One final step is to visit the town hall to consult and check with the town planning regulations. You must make this consultation because the design of your house can be affected, and you may need several variations (such as the number of floors, height, etc.) based on the legislation.

4. Financing

The general thing in Spain is that banks do not give mortgages for land purchases. So, the most appropriate thing to do is to remortgage your present home or apply to get a loan. However, it is also possible in Spain for you to apply for self-build mortgages, which you can use to finance the building of your house. 

A mortgage like this has three different sections:

  • The beginning stage (the first phase that ensures that work begins on the land).
  • The certification stage (this phase is for the construction to continue).
  • The completion stage (after completing the building).

Generally, these operations take up 80% of your budget if it is your first home and the repayment term never exceeds 30 years. 

It may also be worth noting that before the institution grants this loan, you must first show them the certificate of ownership as proof that you own the land, along with other things like the project, construction license, energy efficiency certificate, and execution budget. Additionally, you must comply with their solvency requirement before obtaining the loan. 

5. Planning 

The average time you need to execute your self-build project in this country successfully is about two years. However, it may go past that time frame too. To prevent this prolonged time and skyrocketing cost, you must execute and complete a detailed timescale and budget planning, along with careful coordination of all the professionals (builders, architects, etc.) involved in different stages of the project. 

Conclusion

The processes involved in building a home in Spain are different from how you have it in other European countries. This is because of the peculiarities of the country compared to other countries. This is why you need to take your time and reach out to experts and professionals during all the stages.  

Author Bio

Sherri Carrier is a professional writer at best essay writing services and a member of several writing clubs in New York. She has been writing her poems since she was a child. The young author gets inspiration from her favorite writers and people whom she loves.