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Investment Properties Pro’s and Con’s

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Become a LandLord:Grow Rich In Your Sleep

The idea that you can buy an investment property and grow rich in your sleep sounds awesome, but there are some pros and cons to consider:⁣

PRO: Monthly income is awesome – If your property is in great shape and the tenant is great: those monthly mailbox checks can feel pretty great.⁣

CON: Tenants can be a pain – Renters typically won’t care for your home as if it’s their own investments. ⁣

PRO: Equity – The property can appreciate over time and the money you make from rentals may cover what you pay for the home.⁣

CON: You need capital – You need a down payment as well as the cash needed to manage the property.⁣

PRO: Tax benefits – Landlords can write off expenses that have to do with owning and maintaining their property.⁣

CON: Potential legal problems – the law is on your tenants’ side if you slack on your duty tome repairs.⁣

If this is something you’ve been considering, I’ve helped tons of investors find properties; I’m a property manager and I’d love to help you out.

Prospective Buyers: Should You Continue Renting Or Buy The Home Of Your Dreams?

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If you’ve been renting a home or apartment in the Gainesville area for a few years now, you might be ready to ask yourself a very important question. Should I continue renting or start looking for my dream home?

That all depends on where you are financially. While renting grants flexibility and financial stability in the interim, homeownership has a plethora of benefits for those who are ready to think long term.

The case for continuing to rent

It’s not a secret that buying a home is an expensive endeavor, but it’s not just the price that should concern you. Homeowners deal with property taxes, moving fees, home upkeep, down payments, and — of course — monthly mortgage payments. Sound overwhelming? You’re not alone.

Aside from renter’s insurance and a security deposit — which are both very standard — there are no hidden fees involved in the renting process.

Not only are renters exempt from the financial hardships that come with homeownership, but renters also have much more flexibility. If you need to uproot and move to a different city, there won’t be anything holding you back. You’ll have the freedom to adapt easily to life’s changes. 

Incentives to buy a home

If you have the savings to do so, there’s really no question that buying a home is much more advantageous than renting one — especially with the help of Gainesville’s top real estate agents. While you may save money in the interim by renting, buying a home can have huge advantages in the future. 

One of the greatest incentives to buying a home is your equity. This is basically the current market value of your home subtracted from what you still own to your mortgage — basically a forced savings account for all homeowners. In 2019, home equity increased by 5.1% compared to 2018, and equities have been steadily increasing for many years now. This is a good sign for all homeowners looking to tap into their equity in the future. 

Buying your own home also has many other rewards, including increasing your credit score, tax benefits and breaks, and locking in a fixed mortgage rate (a stability never guaranteed when renting). While homeowners invest money into a property that’ll leave them with stability and significant savings in the future, renters are left with nothing at the end of their leases.

The bottom line

If you have enough savings, stable employment, and a steady income — you’re an ideal candidate to start reaping the benefits of homeownership. If you’re not quite in a stable financial position, you might be best to hold off a few more years.

Set yourself up for the best future by consulting a top real estate agent in the Gainesville area. No matter what your plans are, the best way to succeed in the real estate world is by getting the best assistance and advice out there, so talk to us today! (352) 514-9508

Tips For Safety And Maintenance Of Your Fireplace

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Fireplaces spread a warm glow and provide the perfect setting to curl up with a steaming cup of tea and a good book to read on a chilly evening. However, negligence and poor maintenance would not only up the costs for servicing but also increase the risks of a hazard. It’s absolutely necessary to practice good maintenance procedures to keep your fireplace in the best working condition and keep danger at bay.

Let’s have a look at some easy tips and precautionary measures we could take:

1.Before you light a fire you should place the kindling, draw the screens or curtains in the room apart, and open glass doors. Once you open the damper and window you can start the fire. By lighting a match and swiftly blowing it out you can check whether the smoke is going up the chimney or not.

2.Protect your carpeting by placing a non-flammable rug before the hearth. You can buy one of these at a fireplace supplies store.

3.Water damage can be avoided by using a chimney cap. It also helps to prevent small animals from nesting or debris clogging the shaft. If not taken care of, this could lead to carbon monoxide poisoning. A spark arrester also needs to be used to stop sparks from flying out.

4.The firebox should be cleaned at least once every week during the months of active fireplace usage. However, to keep the insulation, let an inch of ash remain at the bottom of the firebox. Heat will be retained and coals will warm up faster. During the months when you don’t use your fireplace keep the firebox absolutely clean.

5.If you have kids in the house make sure that the fire is never left unattended. Don’t allow children to play too close to the fire if you are around.

6.Most importantly, get a professional to inspect and service your fireplace regularly. You can avoid plenty of huge problems by tackling them when they are small issues. For this, a professional inspection should do the trick. Chimney cleaning and repair is essential as professionals use special brushes, rods, vacuum, and hand brushes to thoroughly remove flaky creosote deposits from the smoke chamber, flue, and firebox. Professional inspectors will tell you what you need to do in order to have a safe fireplace in the best working condition.

For maintenance, renovation and installation of a fireplace, Sandy Springs residents can avail the services of certified chimney and fireplace solutions providers in the area.

By Orson Dixon
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Soundproofing Floors the Easiest Way

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If you’ve ever had to listen to children, pets or household members making a lot of noise when all you wanted was peace and quiet, you already know the importance of soundproofing floors. If you have an older home, you probably deal with this regularly. In years past, people weren’t as concerned with soundproofing as they are now. Lucky for today’s homeowners, there are now many different options and methods for soundproofing floors.

Changing the Flooring Itself

It’s no secret that carpet is much quieter than tile or hardwood. However, since hardwood floors are the most infamous floors for causing annoying echoes and heavy footsteps, here we’ll focus on hardwood floors.

Installing a new hardwood floor is the best time to think about soundproofing floors. Ask your retailer or contractor about the sound ratings of different species of wood and different manufactured wood flooring materials. Soundproofing floors is much easier if you take it into consideration from the very beginning.

Blocking the Noise

Soundproofing floors is not a complicated idea. You just need something between the hard flooring and the rest of the house to absorb noise. There are many different options for materials to place between the floor and the sub-floor to accomplish this.

Cork is very good at absorbing noise, and it’s being looked at with new interest lately as a more environmentally friendly form of soundproofing your office and home floors. You’ll only need a very thin layer, since cork is a very dense substance. This thin layer will be laid first, and then you will install the sub-floor and finally the hardwood.

If you’ve ever looked up in a school, office building or hospital, you’re already familiar with acoustic tiles. These panels were designed to dull echoes, and this is why they’re popular in large, open spaces. However, they also make an excellent for soundproofing floors! Simply install them as you would cork, making allowances for the differences in thickness.

You may have noticed, in real life or on television, the odd-looking panels which line the walls of professional recording studios. Generally known as sound-deadening panels, these panels do just that…deaden almost all noise. For this reason, they are very adaptable for soundproof flooring. They are generally thicker then acoustic tiles, but if you plan accordingly, you can create an almost entirely soundproofed floor with minimal effort.

When New Floors Aren’t an Option

If you rent and can’t redo your floors, or if it’s just not an option for you financially, there are still steps you can take for soundproofing your floors. If you value quiet over the look of hardwood, consider putting down carpet. Many families have a “no shoes” policy in their homes. Area rugs offer the same sound-deadening benefits of carpet with the added bonus of being moveable.

There are many different options for soundproofing floors, with something for every taste and budget. Do your research, and decide which options is right for you. Once the work is done, you’ll get to enjoy a beautiful floor without the constant annoyance of excess noise.

By John S Evans
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Is Kitchen Remodeling Cost-Effective?

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So, you have made the decision to remodel your home. Kitchen remodeling is one of the first rooms that homeowners explore with regard to renovations. The kitchen is the main gathering place in the home for families and friends. It is the area where socialization happens frequently, so it makes perfect sense to choose to remodel this room in your home first. The project can be extremely fun and should be looked upon as such. There are so many small changes that can be made to completely transform this room that it is mind boggling. Let us talk a bit about whether this remodeling project is a sound financial decision.

First, you should look at the long-term picture. Are you remodeling the kitchen for your own preferences, or will you be selling the home at any point in the future? Either way, renovations to the kitchen can help save money in the future. If you are planning to stay in the home, you can employ some new choices that can help save on your monthly utility bills. You can opt for new energy efficient windows that can save you on your monthly electric payments. You can install low flow faucets to save on water consumption. You can also buy appliances that are more energy efficient as well. You will also experience personal satisfaction that your new kitchen is more operational and updated than it was previously.

If you are planning on selling your home in the future, you can expect a very significant return on your investment. If you ask any realtor, they will tell you that one of the first things a potential buyer is interested in is the kitchen. If your kitchen is fresh and updated with contemporary finishes (counters, cabinets, flooring) it will make your home stand out against homes that have a more dated kitchen. You can expect to get a return of at least 40% of your remodeling investment when you go to list your home. You can get a higher sales price due to the upgrades.

A home kitchen makeover is a very prudent choice, especially if you can only remodel one room. The kitchen is central to the home and you spend a lot of time there cooking, eating and socializing. The benefits of new and updated appliances and other elements far outweigh the costs you may incur. You will be surprised at how far you can get on your proposed budget. When your project is finished, you will realize it was money well spent.

By Leonard Simmons
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