Add Value to Property With Home Improvements

Home improvement is something that requires exhaustive assessment, meticulous planning and infinite reserves of funds. If done properly, it adds value to your home and makes it look remarkably stylish, elegant and sophisticated. On the contrary, a wrong up-gradation can not only make your property look shoddy, but also causes you to lose a lot of your precious money and time. Here are a few useful home improvement tips that will help you to add value to your property.

•Try to ascertain the actual reason for home improvement- Normally, people undertake home improvement for one of the three reasons; first, to get a good price for their property, second, to increase the aesthetic value of their home and third, to accommodate their extended family. If you are intending to sell your home, then all the enhancements should impress the prospective buyers.

If are looking ahead to use the property yourself, then the improvements should be invaluable utilities.

•Mark out the regions in your home where improvements can be made- There are certain regions in a house where improvements work the best. For instance, the living room, where we spend more that 50% of our time, kitchen, where modern appliances and utilities are needed the most, and garden, which makes your outdoor space look exceptionally attractive as well as perks up your quality of life. If you have adequate amount of money at your disposal, you can also opt for loft conversion or erect an extra room or bathroom on your property.

All these alterations will make your property invaluable. However, one thing that you should bear in mind is that the enhancements should match the existing style of your home and should also be consistent with the size of the property and layout of the house.

Moreover, also make sure that you have requisite permissions from the concerned authorities for the alterations.

•Chalk out a financial plan- Lots of money would be required to make improvements in your home. The construction material, workforce and professional advice are quite expensive. Can you actually afford home improvement? This should be the first question for which you should find an answer. Create an expenditure plan and accordingly make arrangements for the funds. You can either use your own savings or get a home improvement loan. Consider the pros and cons of both these alternatives before opting for any one of them.

•Seek professional advice- If home improvements are as simple as getting the door knobs changed, then you can do it yourself, However, for bigger and more complicated modifications, professional advice is essential. Although it is an expensive proposition, but it is certainly worthwhile.

•Sometimes small means big- At times, by merely giving the walls a new color or by changing the flooring, you can add value to your property. Another less expensive way to enhance the looks of your home is by replacing the old doors and windows with new, more stylish ones. All these small modifications will improve the saleability of your home to a great extent.

For some of the best real estate properties, take a look at Anthem AZ Houses for Sale and Pointe Tapatio Homes for Sale.

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Furnished Apartment Rentals – Rules, Regulations, Tax Laws

You would learn many things as you enter this business. The most important of all is of course the law and how it applies to you when you become a landlord. You will find in this section a brief outline of what you need to know and do when you plan to rent your home.

Zoning of your home – You need to find out about the zoning status of the area your house is located in and understand the laws that govern it. Contact and discuss with house owners in the vicinity who are renting in that area for a better idea of the local rules and regulations and their correct interpretation. Educate yourself on all the changes that would affect your home.

Learn about the locals laws – You need to look up the Federal Fair Housing Law, which governs the property owners all over the USA. These websites would be very helpful: http://www.hud.gov/offices/fheo/FHLaws/ (USA) and http://laws.justice.gc.ca/eng/H-6/index.html
(Canada). These particular laws outline the points that could be interpreted as discrimination, which would be construed as against the law. This law is further refined in most states and provinces, another reason for which you need to find out the local laws.

Home Owners Association (or strata) – You will find that in addition to the overall letter of the law, you would have another regulatory body at micro level: this is the homeowners association, whose responsibility would be to define rules and regulations for both homeowners and tenants. You would be able to find these documents in the community’s Covenants, Conditions and Restrictions (CC&R), and these more than anything would be the ground rules you must apply to your rental. For example, in some places the CC&Rs would dictate that the place in a given area should not be rented to senior people above a certain age (say, 65) or students below a certain age (say, 25) without one of their parents. These are rules that are applicable to your rentals and you need to adhere to them.

There are also rules that protect disabled persons. In some areas such a person is allowed by the law to modify your home at your cost to be able to move without inconvenience. At the same time, he or she would be bound to get the house in the same condition they found it at their own cost before they conclude the lease – of course, this would be better applicable to the long-term rentals rather the short term.

Under the disabled person protection, you will also find the clause about pets. Here an animal – such as a dog – is an aide to the disabled person and is trained as a guide for a person with impaired eyesight. In such cases, you need to know that the rules about pets do not apply.

Business License and Permits – Then, you have the licenses and permits. Contact your city’s government officials to find out what exactly you need to apply for under the local laws. There would be a requirement to apply for a permit to rent your home for short-time basis. Fortunately, in most cases, application for license and permits could be done online.

Safety parameters – Safety and health code regulations are very important. In every state or province, there would be certain codes that need to be followed whether you are renting your property for short or long-term. Some examples would be the fire and smoke alarms, fire extinguishers, locking systems and other safety measures. Do not think of these as waste of money; besides ensuring the safety of your tenants and home, this would also contribute in lowering the costs of your insurance premiums. Talk to your insurance agent and identify which criteria contribute to lowering the projected risks to your home, which ultimately contribute to the calculation of the premium.

Local health and sanitation rules – Each city and region would have their own codes so it is important that you find out what they are and comply with these. You will find that in some places there would be rules governing the methods of linen sanitization, maintenance, water testing of pools, spas maintenance, etc.

Sales Tax – You would also need to check out with the local tax office about the taxes from the rent you receive. The sales tax is additional to the rent that you charge your guests. Your role would be to collect this sales tax and deposit it with the relevant government office.

Slava Kandakou is Managing Director at Golden City Rentals, Vancouver’s leading provider of furnished apartment rentals. Contact us for more info on furnished apartment rentals in Vancouver, furnished house rentals, and Vancouver corporate housing.

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