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Is Your Property Safe?

[ Posted August 24th, 2009 ]

Where are the property destruction hot spots?

When we purchase property, we would like to think that it will always be safe.  However, we need to be realistic of the short comings of people’s better judgment when it comes to property other than their own.  Property crimes include burglary, defacing property, trespassing, and theft.  Not only do we have to be concerned about other people being harmful to our investments but also the uncontrollable force known as nature.  As investors, we cannot control people or mother nature but we can make smart decisions to help protect ourselves and our investments.

In regards to human destruction, there are obviously "safer" neighborhoods and cities in which we can choose to make our investments.  For example two of the top cities in which property crime rates are high include London and Nottinghamshire.  This does not mean that you should not buy property in these cities, but you have to realize the higher risk in regards to break ins, defacing of property, and general theft.  These instances of property damage cannot not only result in damage to your property and loss of property but can also hit your pocketbook when in comes to . Some other areas that have been designated as "higher risk" areas include: Leicestershite, Cheshire, West Yorkshire, South Yorkshire, Surrey, East Sussex, Kent, Greater Manchester, Avon, and Berkshire.

While Mother Nature is a little more out of our control, there are still ways to protect your property against natural disasters.  It is important that you thoroughly research the different coverages availabe in regards to wind, water, and fire damage.  There are many times of each of the listed coverages and many have exclusions and limitations.  While it can cost a substantial amount to make sure your home or business is protected;, it is a worthy investment.  Some things to consider when considering property damage due to nature are water drainage, falling trees, electrical wiring, chances of flooding, arson, debris damage, and location.

So take a little time and check out crime rates, the landscaping of potential properties, age of the property, and typical weather conditions.  These simple elements will help create a more secure investment in regards to property selections.

Muslim Home Ownership Options.

[ Posted August 24th, 2009 ]

There have been growing options for Muslims seeking to find less risky ways to obtain property.  A conventional mortgage has not been an option that could be used due to the Sharia Law of Islam, which prohibits the ideas behind the standard definition of interest in regards to loans.  Since it is often hard if not impossible for many Islamic families to simply buy a house with cash, an Islamic mortgage has become an option that provides more security to property purchases and has be designed to not break the Sharia Law.

You may be wondering how are Islamic mortgages possible since interest is what makes a loan beneficial for the lending financial institution.  It simply requires a few adjustments in how the agreement and actual exchange of money is completed.  One way that these mortgages are achieved is by the bank selling the property at a higher total amount at a zero percent interest rate.  A second option is what many of us know as a rent to own option.  This is where a renter makes monthly payments towards the property equity until enough payments have been received to pay off the property.  At that point, the property title is transferred from the bank to the renter.

The final and slightly more complicated option is to make a joint partnership between the bank and purchaser.  This involves creating an LLC in which each party will own a portion of the property, typically referred to as shares.  This allows for the "shares" to shift percentages until the individual who wants to own the property has accumulated all the shares of the property.

While these options are typically a little different, they still offer security to both the buyer and the lender.  It simply takes the mortgage concept and removes the interest variable.  This masterful mortgage has made it possible for Muslims to have the same property investment options as everyone else.

Quick Start Mortgage Breakdown.

[ Posted August 24th, 2009 ]

A Quick Start Guide to Mortgage Options.

We know that when it comes to investments, sometimes there is simply too much information.  However, it is time you see that there are more options that you thought.  It is important that when you are looking to make investments in property that you find a mortgage that fits your specific needs and offers the best overall package in regards to your financial situation.

Let’s take a brief look at what types of mortgages are available.  The first mortgage is a fixed rate mortgage.  These are simply loans that has a constant interest rate for the duration of your loan.  For those with shall we say less than spectacular credit, a fixed mortgage my not be an option for you.  That is when a bad credit mortgage could be considered that is offered by credit repair, sub prime and nonconforming lenders. Are you self-employed?  There are mortgages known as that allow you to disclose your average income without having to physically show continuous client accounts. Lenders for Self-Cert mortgages understand that income fluxuates.

Other mortgage options are for properties that are being used for other purposes aside from purchasing a new home for the use of you and your family.  A Buy to Let mortgage is designed for those of you who are looking to buy property with the intention of subletting the residence or business to a third party under a rental agreement.  Those who are considering purchasing commercial property should look into commercial property mortgages.

There are also mortgages that are designed specifically for first-time buyers, overseas purchases, and Islamic mortgages.  These are specially designed to help you find the best investment option for those less experienced in property investments, purchasing property outside of your knowledge range regarding overseas property, and allows practicing Muslims the opportunity to own homes through a specialized mortgage practice to keep from breaking established religious rules.

All you have to do is remember a few questions and you can find which loan best fits your financial plan.  What is the property you are purchasing going to be used for? What are my credit and employment statuses?   Is the property local or outside of your country?  Do I want stable interests rates or rates that could possibly save money?  These are only a few questions to help you get started but will at least start you off on the right path.  You will that mortgages are not as complicated as you thought, you simply just have to figure out what your situation is in regards to the desired property and match a complementary mortgage.

Areas That Could Be High Risk Investments.

[ Posted August 24th, 2009 ]

The quick rundown on how to know when and where to invest.

While there have been a lot of extra stress placed on  investors during these problematic financial times, property investments are still safer and more secure.  There are many investments that are ranked much more volatile than property.  The question is how do you know if you are making a good investment or setting yourself up to sink in drowning area?  This is a good time to invest only if you are willing to take time to do your homework.  That is why we have put together this quick rundown of areas that are growing and succesful as well those that could pose a higher risk of becoming failed investments.

All the information you need to know about current statuses of communities, towns, and metropolitan areas can be found by comparing number of homes for sale, original purchase prices versus sale prices, and checking into the number of properties in the area that are considered distressed properties.

These are only a small number of areas that have been studied.  Other factors that you might want to consider researching prior to making that new investment is the average salary level, unemployment rates, and overall price changes over the span of at least two to three years.  These are just some simple suggestions that will aide you in keeping that new investment on the track to being a golden ticket instead of a rotten egg.  

Property Owners Taking Extra Precautions on Protecting Their Investments

[ Posted August 23rd, 2009 ]

People Going the Extra Mile to Protect Their Property.

When it comes to making a property investment, the first things that buyers should consider is how to protect their property. This realization has recently become more important than ever to property owners. Recent statistics are showing that people are considering a wide variety of options for ensuring that they can get proper coverage for their homes.

Most people who still have a mortgage or are looking for a first time mortgage typically will have a form of simple insurance included in their mortgage. However, it is important to know what the large majority of these built-in or lower cost solutions are often temporary. Those who have invested in their dream homes, or finally been able to make that investment in a place they can call their own, are looking for long term solutions.

You would be surprised at what home owners are willing to consider being able to protect their homes to the fullest degree. It has been shown that many people would not hesitate to consider options such as a second job, taking in lodgers, or making sacrifices in leisure activities to simply be able to protect themselves, their families, and their homes. When light was shown on the subject of property safety and that merely 9% being able to call their home safe for a long-term period if financial troubles were to arise, the level of importance has grown greatly. Now, many are taking the time to find alternative to solutions for the long-term and becoming less dependent on temporary or short term relief.

 
 
 
 
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