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5 Reasons Why You Should Choose Properties Carefully

5 Reasons Why You Should Choose Properties Carefully

Buying a property or looking for rent is a hell of a task. A lot of work needs to be done which could be daunting for many, thus from the decision to invest in property to actual buying your rental property, a lot of work needs to be done.

Since buying a house or being on rent is an emotional process, as there is always a dream of making a place a home where one will have moments they have dreamed of. So many people fall prey because of these emotions and make hasty decisions while selecting any property.

The common mistakes people make are falling in love with the place they can’t afford, assuming there is nothing better out in the market, being desperate, overlooking important flaws, rushing to put in an offer, offering too much if you like property and dragging your feet if you like a property.

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Since buying property has a number of implications so it is important to keep emotions in check and make the rational decisions. So while considering any property, make sure to follow the following things:

  • Know what you can pay.
  • Think of features you are looking for.
  • Choose rental type.

No doubt it is true that you can complete this daunting task on your own and market your property through an owner website like assetcolumn, but only if one has time to do this as a part-time job. Thus, an agent might be of great help to match your property requirement with the perfect match at a faster rate as they are aware of the market with a wider scope. The following are some reasons why you should hire real estate agents:

1. More convenience

It’s the job of a real estate agent to act as an intermediate person between sellers and buyers. Thus, he or she will have access to all properties listed by the other agents. For example, if one is looking to buy property, a real estate agent will hunt down all that will meet your criteria, get in touch with sellers and make appointments to view the property.

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So this will ease your work as they will do all the things regarding appointment and finding you just need to view. Similarly, if you are selling a home yourself, then you have to set up the calls with interested parties make appointments and answer questions yourself. And one has to keep in mind all the potential buyers and respond them quickly.

2. Negotiation is tricky

Many people don’t like the idea of doing a real estate deal through agents as they feel direct negotiation between sellers and buyers is much more transparent and it lets the involved parties to look after their own interests which is true as it results in transparency.

But, this is not true in all cases because as a buyer, you cannot express all the concerns to the owner but it’s easy to explain those to a real estate agent so they can act as a messenger as they are in a better position to negotiate.

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Always keep in mind that the owner can reject a buyer’s offer for any reason, even their attitude for example, so the agent can help by speaking on your behalf and handle the situation in a better way. The same goes for the seller, who can be benefited by a real estate agent who will convey their interests to buyers without turning them off about price or because of some other concern.

3. Handling of contracts

One should always draft the contract during buying and selling of property so as to ensure that what you are getting is a part of the deal or you can back out of the deal at any time if certain conditions are not met.

Thus, a real estate agent deals with the conditions and contracts on a regular basis and they are familiar with clauses which need to be drafted as part of the contract – what can be removed and how to use the contract for your interests, whether one is selling or buying property.

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4. Neighborhood awareness

The agents have complete knowledge about the neighborhood as well. They can collect information and hand it over to you and also inform you where you can find schools, supermarkets, and other demographics. All these details are highly beneficial while looking for property, particularly in an unfamiliar place. So one needs someone reliable and a person who is aware of the neighborhood.

5. Guidance of price

Agents don’t bind you to a particular price of a property but can guide you to settling on a price. Agents can guide clients to make the right choices for themselves. And at the same time, they will provide all the data for the buyers to make a choice based on price and amenities provided. Thus, based on demand and conditions, market supply real estate agents will devise a negotiation strategy.

Everything has its own pros and cons so it’s totally dependent on the individual to decide. As far as my experience goes, is it is always better to hire some real estate agent while looking for a new property if you are new in place as they have a number of referrals. Since the agents have great capabilities to make clients satisfied and happy, many agents will mail you periodically all the updates about the market to keep you posted so your commission will be fruitful.

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Abhay Jeet Mishra

Writer at Lifehack & Enterested.com

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Published on September 17, 2018

How Being Smart With Your Money Leads to Financial Success

How Being Smart With Your Money Leads to Financial Success

Achieving financial success is not something that just happens. Maybe if you win the lottery or something, but for the average person like you or me, it comes from a series of small steps you take over a long period of time.

With each step, you form a new smart money habit. And with each smart money habit, you build towards financial independence.

So what sort of habits can you form to get on that path? Let’s take a look at smart money habits you can start today to get you closer to a financially independent future.

1. Avoid being “penny wise but pound foolish”

It’s tempting to try saving a couple cents here and there when buying small items. However, that’s not where the real money is saved. You’re putting in extra effort for something that doesn’t move the needle.

You get the most bang when you’re able to cut down on your bigger bills. For example, finding a lower interest rate for your mortgage could save you $50+ per month. And cutting your transportation bill by purchasing a cheaper car or taking public transportation can provide large gains as well.

So, look at your recurring expenses such as housing, transportation, and insurance, and see where there’s wiggle room. It’s a much better use of your time than trying to pinch pennies here and there on smaller purchases.

2. When you want something big, wait

Impulsivity can get you in trouble in most aspects of life. Finances are no different.

It’s human nature to see something and want it right then and there. It starts as a kid in the checkout line at the grocery store, and it continues on through adulthood.

We get an idea in our head of something we want, and it’s hard not to go out and get it right then.

A good example is wanting a new car. Perhaps you’ve had your car for several years. It’s crossed the 100k mile mark. Maybe maintenance is due, and you’re annoyed that you need to replace the timing belt or purchase new tires.

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So, you get the itch.

You start digging around online, and you realize you could trade in your current car for something newer and more exciting… all for a few hundred bucks a month. Then you get obsessed.

Here’s where you have to take a step back.

Your newfound obsession is clouding your judgement. Rather than giving into the impulse, wait it out.

Set a timeframe for yourself. Maybe you come back to the decision three months down the road. See if the obsession lasts.

It might, but often, a funny thing happens. Often, you forget about it. And often, you find that the new car wasn’t a need at all.

The impulse faded. And you just saved yourself a ton of money.

3. Live smaller than you can afford

You finally get that big raise. And you want to celebrate – and why not?

You’ve been looking forward to this forever. And after all, it was all due to your hard work.

That’s fine, splurge a little. However, make it a one-time deal and be done.

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Don’t get caught in the trap that just because you’re now making more money, you should spend more.

Too often, people get more money and feel like they that gives them the means to buy a bigger house, a bigger car… you know the drill. Resist.

The fact is that living smaller than what you can afford is one of the fastest ways to build savings.

But if you constantly upgrade as you begin to make more, then you’ll never get ahead. You’ll just build up more debt along the way and have just as little wiggle room as before.

4. Practice smart grocery shopping

Food… it’s one of the biggest portions of any budget. And if you’re not careful, it can be one of the biggest drains on your wallet.

But luckily, there are a few things you can do to ensure that you stay smart with your money when buying groceries.

Create a grocery budget

Set a strict weekly grocery budget. When you know how much you can spend on groceries, you can then plan your weekly menu around it.

Once you know what all you need, you can go shopping and keep a running tally as you shop to ensure you’re on track.

I tend to do this in my head, rounding for each item. However, writing it down as you go would probably work best for most people.

Make a list… and never deviate

Never go to the grocery store without a list. If you go to the store with a ballpark idea in mind, you don’t have a true ide of what you need.

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You’re not well-researched. You don’t know what the sales are. As a result, you’re going to make decisions on the fly.

These impulse decisions will lead to overspending, which will derail your grocery budget.

Eat before going grocery shopping

It’s also important to eat prior to going to the grocery store. Hunger is a powerful force.

If you’re shopping on an empty stomach, everything is going to look good. In particular, you may find a lot of ready-made, processed snacks will look enticing.

After all, you’re hungry now and that food is easily available. So subconsciously, you may lean towards those items.

Unfortunately, not only are those items typically less healthy, but they’re likely more expensive. You pay for convenience.

However, when you eat prior to shopping, then you’ll shop with a clear mind. Your hunger won’t cloud your judgement, influencing you to make poor decisions like a cartoon devil resting on your shoulder whispering in your ear.

This makes it much easier to stick to your grocery plan.

5. Cancel your gym membership

Now that you’re all set on your food, it’s time to get smart about managing your budget in terms of physical fitness. And let’s begin by avoiding the gym. The gym bill, that is.

The average gym membership costs around $60 per month. That’s $720 a year.

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Yet, two out of three gym memberships go unused. That means two-thirds of people who have a gym membership are literally giving away almost a thousand bucks a year. It’s crazy!

I recommend seeking an alternative. One good alternative is to look into fitness streaming services.

Streaming services allow you to stream hundreds of workouts like Insanity and p90x, right in your own home for around $10-20 a month. That’s $40-50 less a month than the average gym membership.

Of course, then there’s the free option. The internet is full of free workouts that you can do on your own with minimal or no equipment.

For example, there’s the Couch to 5K program, that I personally used a decade ago to ease myself from couch potato to running my first 5K race. If I could do it, anyone could.

Then there are free resources like reddit that have limitless information on workouts. The Fitness subreddit has done all the research for you, populating workout tips and detailed workout routines for anyone to use in their wiki.

There are several routines that require no equipment. And you can join in on the subreddit to become part of the community, making it easier for those seeking comraderie and encouragement in their fitness goals. All for free.

It’s baby steps… And baby steps can start now!

I’ve never met anyone that can’t stand to be a bit smarter with their money. And on the flip side, anyone can get smarter with their money. But remember, it doesn’t happen all at once.

Begin by fighting your impulses. Prepare for the week and be smart at the store. And cut monthly expenses like gym memberships that are overpriced and you probably aren’t getting your money’s worth out of anyway.

The devil is in the details. And the details can change your lifestyle and prep you for a financially independent future.

Featured photo credit: Unsplash via unsplash.com

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