There are several reasons that condominiums have been growing in popularity over the last few years in NJ. Many people prefer the security and sense of community that are associated with condominiums while others are drawn to this real estate purchase because of its cost effectiveness. An owner does have to perform minor maintenance on a condo, but they typically do not have the added responsibility of doing yard work. These are some of the main reasons that people purchase condos. When a condo is purchased it is a collective ownership. There are three different types of condo ownerships. Continue reading »
Archive for the ‘real estate’ Category
When it comes to a home remodel there are tons of different things that homeowners need to keep in mind and understand fully prior to starting the remodel. There are structural and technical issues to remember, design choices to be made, and property values to be considered when looking at any home remodel project. The first and most important thing to understand is how the remodel is going to affect the resale value of the home.
A real estate agent that is offering a client help in buying a home is going to be looking for several things in any older construction home, things like updated bathrooms and kitchens, hardwood or laminate flooring, new windows and fixtures, and any additions that have been made to the home. All of these upgrades can help increase resale value and can help add to the property value as a whole in the long run. When upgrading to increase the value of the home, price of the upgrade or renovation is the most important factor to keep in mind. A homeowner can update and upgrade all they want but if the upgrade costs more than the added value to the home, there is an issue. When doing an upgrade purely for resale value it is important to keep costs as low as possible in order to insure the highest profitability. Doing a $20,000 remodel that is only worth about $10,000 in resale value is a waste of money, time and effort in the long run. Continue reading »