TYPES OF HOME RENOVATIONS

Home renovation is very trendy these days. More and more homeowners are choosing to stay in the same place, making it more lucrative and fashionable, rather than purchase a new home. To make room for budding families and changing needs, home renovations are occurring at an ever-faster pace. Whether the need is to update the home, add more space or simply make the home better, it reflects a family’s character and needs.

We also have the expertise to take on technically difficult and complex projects such as dealing with unique structural issues or projects requiring work that is phased over time. Home renovations are done according to the taste and wish of the family members, whether they want it to my up to the minute or vintage or contemporary. Mostly liked renovations are discussed below:

1.   Vintage

It actually refers to a particular period in time - the glamorous 1940s. Extremely elegant, colours are soft with one or two bold colours for impacting contrast, and fabrics, luxurious. Vintage houses emit an old world vibe.

2.   Contemporary

If you like to keep up with current styles, contemporary homes styles suit you best. By its definition, contemporary designs are characterized by what is in style right now. Therefore, they are ever changing and can be a mixture of different eras, put together elegantly.

3.   Eclectic interior

Eclectic interior design is a mash up of styles, textures and colours in one room. Because it can seem so random, it takes a keen eye to strike that balance. Done right, it can create an atmosphere that is charming, distinctive, imaginative and pleasurable.

4.   Industrial interior

The industrial interior comes from the manufacturing. The look is raw,

unfinished, achieved with rough surfaces and materials that suggest an 

industrial past. Wood and metal are used heavily, as are exposed pipes 

and ducts, cement screed, and vintage furniture. The style never looks sloppy, and can look coordinated.

5.   Transitional

Transitional style is also known as 'updated classic'. It is a blend of the classy and refined conventional style and simplistic contemporary style to create an uncomplicated design that epitomizes harmony and elegance. Furniture used should focus on sophistication, soothe and practicality.

 6.   Retro

As with Vintage, retro designs are not anything that is old. It refers to the styles encouraged by 1960s decor, where psychedelic patterns and colours ruled. These designs came with the hippy movement and today, inject homes with intellect of nostalgia and eclecticism.

 In addition to making your life better every day, home remodeling projects will ideally enhance your home’s value. Buyers look at the basic structure and floor plan of your house, as well as the home’s condition. So it’s advised that your house should be well maintained and accessories entirely match with its making style.

FLIPPING AFTER HOUSE MARKET BUBBLE

A flip is defined as a home that is bought and sold again within 12 months.

Gradually rising home prices are bringing more house flippers out of the woodwork, and that may be a sign of an out busting housing market. The number of active home flippers last year was the highest in nearly a decade, and it has not stopped over time, but increased.

"For the year, 21 percent of all properties flipped were purchased out of foreclosure, but that is down from 27 percent in 2012 and 32 percent in 2011. Investors are finding discounted buying opportunities outside of the public foreclosure process." says Daren Blomquist, vice president of RealtyTrac.

Approximately 180,000 family homes were flipped in 2015, according to RealtyTrac. Flipping increased in 75 percent of U.S. markets, and the profits are growing as well.

"When home flipping numbers go up, it is usually an indication that the housing market is in trouble," said Matthew Gardner, chief economist at Windermere Real Estate in Seattle.

Flippers end up having to take bigger risks for smaller profits where even minor miscalculations or sudden market swings can lead to huge losses. As the flipping bubble implodes, and as reality replaces perceived guaranteed returns, many flippers will be hit with losses and will be dragged out.

House flipping - buying and reselling a home to make quick money - has risen in some hot housing markets, prompting concerns that local housing bubbles could be developing.

The concern now is that prices are rising too fast, not because buyers can afford to pay more but because of extremely short supply of homes for sale. Home flipping can push prices artificially higher.

Real Estate Flipping: 3 Mistakes You should Certainly Avoid

Real Estate Flipping: 3 Mistakes You should Certainly Avoid

Stepping in any market without knowing the basics is a cordial invitation to failure and loss. And when the market is real estate, the things get even riskier, even if the concerned subject is flipping. As easy and profitable as the concept of flipping may seem, it might turn out to be a flop if not done properly. So let us take a look at the 3 mistakes that you should certainly avoid saving your flip from a flop.

·         Insufficient Money: Here, we’re talking about the money you have. The logic is quite simple, the money you are planning to invest in the renovation and other costs, needs to be less than the selling price of the property. Having insufficient money in the first place means borrowing and hence paying interest, adding more and more to your expenses and less for the profit.

·         No Skills or Knowledge: You need to do your homework. The more skills and knowledge you have, less money you need to spend on the professionals to do the work for you. And it is more helpful than you can imagine. Not only while flipping, but your knowledge and skills are necessary to choose the right property as well.

·         Impatience: As they say, Patience is the key to success or profit in our case. Only a Novice will make a hurry in real estate matters. Hurrying in choosing the contractor or the realtor is never going to help for the profit.

Thus, these are some mistakes you should avoid while flipping your property to earn maximum profit, for more updates on the same keep following us.