Real EstateThe better real estate deal – Old or new homes
The real estate market has rapidly evolved in the past few decades, especially due to the soaring costs of land. As a result, both old and new properties are equally expensive! So, first-time homebuyers often find it challenging to choose between new and old properties. Both entail their own set of pros and cons. Let’s take a quick look at them!
Pros and cons of new real estate properties
A new home tends to involve minimal maintenance costs, essentially because it is recently constructed. Therefore, it will ideally last for the next 10 to 20 years depending on the wear-and-tear that occurs. New residential properties are also developed with modern amenities, such as built-in dishwashers, refrigerators, or media rooms. Likewise, the buyers can be more secure about their investment as they are handed a builder’s warranty.
Some new structures even happen to incorporate solar panels to make living spaces more energy-efficient. Moreover, if they are not custom-made, they might be relatively affordable than older homes. Since code regulations alter all the time, most new homes are built to conform to the safety protocols. This means homeowners don’t have to spend additional money on making adjustments to their property.
Contrarily, new properties lack individuality. Most homes, especially apartments, might have the same structure, leaving limited room for customization. Similarly, the vegetation in the lawn or the backyard can take years to grow, rendering the outdoors a less appealing look.
Typically, new residency projects are located in neighborhoods that might be pretty far away from the commercial parts of the city. So long commutes can be a cause of concern for people who work on the other side of the town.
Pros and cons of older real estate property
Some older homes have endured gruesome conditions and have still managed to stand tall and proud for decades, even centuries. Additionally, a few of these properties were created by craftsman using Colonial, Greek, or Victorian architectural style, lending them an old world charm and uniqueness. Old homes also happen to accommodate bigger yards, as back in the day, land prices were much cheaper.
A well-settled neighborhood and mature vegetation consisting of canopying trees and boulevards are again some of the added rewards of buying older homes. As such homes were built a long time ago when land was abundant and population minimal, these are closer to cities, implying an easier access to stores, restaurants, and other local establishments.
Older homes have numerous benefits to their name; however, they are also infamous for including high maintenance. Their vulnerability to structural problems related to vents, plumbing, wiring, or sloping floors can be extremely inconvenient for buyers who are looking for ready-to-move-in properties. Furthermore, added expenditures like home system upgrades, kitchen remodeling, or other repairs can turn out to be financially debilitating. Finally, their architectural splendor and close proximity to commercial settings demand a significantly higher price.
Tag – homes
Real Estate4 factors that affect the price of steel buildings
There are three essential things to consider for any steel building project—the location of the project, the design of the building, and the cost of the steel building. The cost of steel buildings is not very hard to determine. It depends on multiple variables that are involved in the construction of the steel building. Here are some of the few important factors based on which the cost of any steel building can be calculated.
The design of the building
How much work needs to be done and how much steel is required highly depends on the design of the building. For example, buildings that are small and lightweight will not require any special structural engineering; hence, they will not require heavy-duty steel. The cost of steel for such projects will be far lesser than that of projects involving stronger structures. Moreover, the design of a building depends on various factors like the wind load of the area, dimensions of the structure, snow load of the region, seismic ratings of the region, and whether the structure is a closed one or an open one. All these factors will affect the type of steel used and also, the cost of steel.
The current price of steel
The price of steel fluctuates on a daily basis. To calculate the most accurate cost of a project, a contractor will have to consider the cost of steel in that particular time. However, this price will only be an estimate as the price of steel may go up or down by the time the project actually starts. Moreover, the demand for steel will also affect its price at a particular time. Steel, being a valuable world commodity, is subject to the prevailing economic conditions across the globe. This is the reason why the price of steel may fluctuate over a long period or even within 24 hours. This will affect the cost of a steel building project.
The cost of fuel
Fuel is also an essential commodity whose cost has a direct impact on the cost of steel building projects. Its costs have an effect on the cost of transportation of steel from the supplier to the prefabricated steel factory and from the factory to the project site. Although fuel prices do not fluctuate as much as steel prices do, there are certainly a few jumps depending on the production and supply of oil and prevailing economic and political situations around the globe.
Steel is one commodity whose price can be substantially reduced if it is purchased in bulk. This can be quite difficult for an individual client or an individual contractor. But, a large steel manufacturer can easily avail of discounts when they buy in bulk. This will bring down the cost of any steel building project since the discount is passed on to the customer.
Real Estate4 reasons to use prefabricated steel buildings
A prefab or a prefabricated building is manufactured in parts at the factory. It is then assembled at the site. The prefabricated frame is easier to manufacture, transport, and build. It is one of the most cost-efficient methods in the building and construction industry. To build an average commercial steel building, it costs around $20 or more for every square foot. Moreover, steel building lasts longer than most other structures.
Read on to know more about the benefits of prefabricated steel buildings.
Durability and reliability
Steel, being one of the strongest metals, can withstand any weather condition. Steel buildings can stand against extreme environmental conditions right from earthquakes to high winds. These structures can also withstand attacks from termites and other pests. Steel buildings are durable enough to not have any rotting or cracking. They can even withstand fire. Moreover, nearly all steel buildings are protected against rust with specialized steel coatings on the surface of the metal. Thus, there is no risk of the structure getting damaged because of any corrosive action.
Strong and easily customized
Whether it is warehouses, event centers, retail spaces, or homes, steel buildings can be easily customized at a manufacturing plant. The structure is manufactured in parts, and the parts are assembled on the site. The design of the structures can be built to match and blend with the surrounding. With advances in steel technology, it has become easier to be innovative in terms of designing and creating new structures when it comes to steel buildings. Metal roof panels, wall panels, and steel frames can now be made to look like other materials like wood stone, as well as brickwork, making steel a very versatile material. Moreover, steel is quite strong without the bulkiness that may be a problem with stone structures.
Eco-friendly and sustainable
Steel is a recyclable material. In the construction industry, most of the steel is recycled and re-used. As they are assembled on the site, steel buildings can also be dismantled. Instead of filling up landfills, the parts can be melted, welded, and used again for other purposes. Moreover, steel does not emit any toxic gases during construction and even in the case of a fire. The use of steel makes the construction process sustainable and the steel building eco-friendly. Additionally, there are lower cooling and heating costs involved in steel structures. This is because it is easier to insulate steel buildings and put tighter-fitting around windows and doors making temperature control more convenient. Additionally, steel buildings can be incorporated with cool roof designs that help in reducing the amount of heat emitted by the structure to the surrounding environment.
Low construction cost
The manufacturing and construction process involved in a steel building often involves automated engineering. This minimizes the labor costs by nearly 60 percent. It also lowers raw material wastage and saves construction time. Moreover, steel buildings can be supported with foundations that cost far less than those used for buildings made of other materials. This brings down the overall cost of the project to a great extent.
Real Estate4 reasons to opt for steel buildings
Not just in commercial and industrial sectors, unconventional structural options such as steel buildings are thriving in the residential market as well. Steel buildings are versatile and can be used for a variety of purposes. Lately, if you have been contemplating about investing in a steel building but can’t exactly wrap your head around this idea, take a minute and read further to know how this option could benefit you.
When compared to the other building materials, steel aces the strength to weight ratio. In other words, despite its light weight, steel buildings are much sturdier and long-lasting. Steel happens to be approximately 50% lighter than wood. Since it is lighter than concrete, steel dramatically lowers the requirements for footing and foundation. Moreover, it is resistant to mold and mildew and is non-combustible.
Steel buildings are a great alternative if you are looking for a budget option. The metal takes less time than bricks, cement, and wood for procuring and casting, automatically implying it demands limited effort and money. When the steel building is finished, its roofs are treated with a heat-deflecting coating, which saves heating and cooling costs in the future. Furthermore, steel is immune to insects and termites, therefore, you can save a fortune on the pricey maintenance expenses every year. Steel is 100% recycle, so it is an excellent choice if you happen to lead a sustainable lifestyle.
One of the best parts about opting for a steel building is that it can be quickly constructed as opposed to traditional structures. Some businesses even offer prefabricated structures, i.e., they are in semi-constructed state and just need to be transported to the site for the final assembling. In a nutshell, a steel building is a lifesaver for people who can’t spare much time on the logistical part of the construction.
Safe and alterable
Most steel buildings are extremely strong and they have a better chance to endure natural calamities such as earthquakes, hurricanes, and tornadoes. Additionally, you can easily incorporate any structural changes to these structures in the later years at cheap prices.
Some of the top steel building companies you can check out are Arch Buildings, Armstrong Steel Building Systems, Curvco Steel Buildings, Encore Steel Buildings LLC, General Steel, Olympia Steel Buildings, and Rhino Steel Building Systems.
Real EstateChoosing the right steel building company
Over the past few years, steel buildings have become increasingly popular in commercial, industrial and residential setups. These structures are commonly used as barns, garages, hangars, warehouses, and workshops. Some clients also utilize these constructions as churches and homes. However, it is essential that one chooses the right steel building company to make the most of their investment. The following are some factors that one should examine before hiring a construction business.
Types of structures offered
The types of steel buildings offered to clients vary across companies. Some might just render storage solutions while others may also accommodate building designs for community spaces. Alternatively, there might be businesses that provide customized constructions. One should pick a company based on their technical capabilities as well as their own needs.
License and certification
While choosing a steel building company, one should verify their license and endorsements for quality. The following are some accreditations one should look for while hiring a steel building company.
- American Institute of Steel Construction (AISC)
A technical and trade establishment, the American Institute of Steel Construction (AISC) has crafted guidelines to assess every phase of the construction process.
- Leadership in Energy & Environmental Design (LEED) certification
The clients who are environmentally-conscious should specifically check if the company is certified by Leadership in Energy & Environmental Design (LEED). LEED ensures that the structure is created using energy-efficient materials.
- Metal Building Manufacturers Association (MBMA)
The Metal Building Manufacturers Association (MBMA) partners with the International Accreditation Services (IAS) for evaluating the quality of the steel structures.
Use of materials
There are different types of materials employed for created steel buildings. Typically, businesses use alloy-coated, heavy-gauge, and recycled content steel. The heavy-gauge steel is sturdy and comes with a weather-resistant coating. Alternatively, the alloy coated variant is a form of electrically coated steel that prolongs the shelf life, particularly ideal for coastal areas where the air is thick with corrosive salt. The recycled content steel, on the other hand, has approximately 80% recycled content and is best for people who prefer green living.
Apart from the above three primary determinants, one should ensure that the steel building business they are hiring has a dedicated customer support to resolve their queries related to cost, plans, and payments.
- American Institute of Steel Construction (AISC)
Real Estate5 documents required for hassle-free land sales
The decision to sell one’s land is indeed not an easy process. Unless you are in the business of real estate, the processes that are involved till the transaction gets through could be appalling. The seller of the land should be in possession of certain crucial documents which have been listed below:
Purchase agreement: This document will be signed by the buyer when an offer is made on the land up for sale. This legal document confirms the intent of the buyer based on all the clauses in the purchase agreement. Once signed, the document becomes legally binding on both parties. The crucial points of the sale, including terms of sale, agreed price, and other deliverables of the deal need to be mentioned in the purchase agreement.
Disclosure documents: The owner is bound to disclose all liabilities and defects of the property. These disclosure requirements vary from state to state, and hence it would be advisable to draft the document with the guidance of a real estate attorney. This form needs to be filled completely and honestly based on the seller’s experience of the property.
Land contract: This document becomes necessary if the seller offers self-financing. This is a separate legal contract that specifies the terms and conditions between the buyer and seller. This document will include the location of the land with its address and detailed description. This document will list out the price agreed on, the initial payment, the monthly payment schedule, the amounts worked out, the dates of payment, grace period, and mode of payment. Once the contract is signed, the buyer will be treated as the property owner, and he would become responsible and liable to pay all bills and taxes for the said land on sale.
Sale deed: This is the document which transfers the ownership from the seller to the buyer. If the buyer pays cash, a deed is made and filed with the appropriate government agency at the time of closing the deal. If the seller provides financing, the deed will be held in escrow till the last payment is made.
Closing statement: This is required to document the financial transactions between the buyer and the seller. This can include an amortization schedule.
The above-mentioned documents certainly ensure a hassle free sale process when you are selling your land.
Real Estate5 effective strategies for listing properties online
When it comes to real estate, 9 out of 10 buyers look for properties online. With the Internet reducing travel time and distances to our fingertips, it makes sense to bring out property sale to a wider market. A well-planned and executed listing online could make a difference by creating an impression in the eyes and minds of potential buyers sitting across many cities in front of a computer or a mobile phone.
Here are few simple and time-tested strategies for listing properties and lands for sale online:
Photos: Many good quality photographs, taken from different angles attracts attention. A couple of decades or so back, there weren’t many options to take good photographs. Times have now changed and so have the way in which real estate is being marketed. Whether you are selling your own land or you are into the realty business, placing drone shots would certainly attract a lot of potential buyers. Take enough photographs of amenities around as well. Photographs of the neighborhood are also crucial. People make decisions to buy lands/homes also based on how safe the neighborhood is.
Detailed description: Once the pictures have attracted the attention of a potential buyer and he or she clicks on the land listed for sale, it is important to give all relevant details that are basic and vital for a buyer to make a decision. Remember most buyers are looking at multiple or sometimes hundreds of pictures online and the details provided could be the one that makes the buyer proceed one step closer to strike a deal—details like total area, buildable area, sitemaps are crucial when listing a land for sale. Most websites also allow uploading of documents. All these put together can interest the buyer and helps them assess the property and take one more step to shortlist the said land on sale.
Choosing the right website: To ensure that the property gets maximum visibility, choosing the right website to display your ad becomes crucial. Identifying sites that specialize in the type of land that is being sold is the best choice so that there are genuine buyers who are looking for exactly what is being sold.
Impress the buyer: Customizing the property listing with correct tags and keywords to be visible to the probable buyer is very crucial. With the right information and pictures, it is more likely to catch the attention of a potential buyer
Stay patient: Online websites have a huge database of properties. Once your listing reaches the website and its database, the probability that the listing will get an immediate response is not very high. Keep updating the listing with newer pictures. Moreover, make sure that the price quoted is competitive so you get a good deal on your land sale.