Why Townhouse Properties Are Your Greatest Advantage During This Pandemic

By: Samantha Lining

Pandemics have always been a part of human history. We’ve come across this phenomenon in our history classes and even in literature classes. We have dealt with different influenza pandemics for as long as we could remember and humans are left with no choice but to think of ways on how to combat these widespread diseases starting with isolating the sick and keeping at least 6-feet distance away from each other. Filipinos are still left in question on how long will this proclaimed Enhanced Community Quarantine proceed. Both Filipinos and foreigners staying in the country have been practicing social distancing and working from home since March 15, 2020, and we have seen great proof that prioritizing self-isolation and staying at one’s own homes can reduce the risks of getting infected. However, this new policy may seem different to every household or individual. More than a month deep into community quarantine, we are faced with a new set of challenges. You could guess that many of us turn to fear and paranoia into making sure our neighbors do not have the chance to infect us and our family with the virus. We become skeptical of every person that can go in and out of the neighborhood or residential building. Arched eyebrows, alarmed faces, and faint whispers.

These are probably just some scenarios that happen daily. Individuals living in high-rise residential buildings and tenements are always on high alert and an unspoken tension among them continuously rises. There are many different living arrangements present across the country and things being what they are, many homeowners are seeing the benefits (and glorious perks) that come with owning a townhouse and realizing that this is more than just a place for retirement. Buying real estate is one of the most exciting and monumental milestones in life. Not to mention that many do so to elevate their lifestyle. However, during this pandemic, a house and lot proves itself as a worthy investment than any other that can withstand any crisis. Aside from the flexibility and long-term growth value that land property ownership can give you, there are 4 reasons why townhouse are your greatest advantage during this pandemic: Privacy Having your own home ensures you of privacy under your own terms. You can control just how much you let others see what’s inside or outside of your four walls. You can also regulate who comes in and out of your place since you don’t have to live on the same floor or building with others. Essentially, with this level of privacy, you can disinfect all you want with less worry. So, if you’re planning to have your own home theater set-up with the family, by all means, please do so! Safety .

If you invested in a gated and exclusive townhomes like we have, then you are guarded by round-the-clock security and high-tech security systems (CCTVs, etc.). Nothing can beat a good night’s sleep knowing you are protected. Also, aside from your own home, the whole community where you belong is protected from unfamiliar visitors. Space With the Enhanced Community Quarantine, our movements are limited and watched but definitely not in our own townhouses. When you live in a townhouse, you have a wider living space, kitchen space and bedrooms space. That means more space for you and your family to move around. Bake, play, and wander all you want! The country’s renowned real estate developers like transphil real estate offers spacious and grandiose homes like The Bedford, Ellery Place, Buenconsejo and Rosevale Estates Paco with 3-4 comfortable bedrooms where everybody can have their own space and not be bothered by a limiting area. Proximity The fear and paranoia an individual feels can vanish with this last advantage of having a townhouse. Since rapid dissemination of disease can happen in a densely populated area, the proximity of your house to your own neighbors is far greater if you are living in a premium development like our townhome. On the other side of the spectrum, another benefit presents itself because every townhome community is masterplanned which means that you are living closely to the Malls, Supermarkets and Banks. You won’t have to travel far and to be exposed longer whenever you need to re-stock supplies. You can also have your own Personal Shopper to do the shopping brought to you by nearby stores. Altogether, having great proximity from other people decreases your contact with individuals whose health status is unknown and keeps yours intact.

Privacy, Safety, Space, and Proximity give you an overall sense of secureness which can help you best in staying at home. It’s fair to say that you can be worry-free amid this pandemic. As a family, you can be protected from the disease and become part of the people who stem the tide of its transmission. At the end of this catastrophic COVID-19, a house and lot ownership will reveal to be an investment that is long-standing and advantageous. If you have the chance to invest now, then benefit from it forever! Connect with us today. We will help you find your dream home with just about the same benefits and even more.

Pro tips on how to flip a house for maximum profit

Sarah-Jane Meyer , October 9,2020

House flipping is when you buy a home - often at auction or in a distressed sale - and then resell it at a profit. You can make a lot of money doing this, and according to the experts, it can be a lot of fun. However, it’s high risk and hard work and you could lose everything you own if you don’t know the ropes.

One of the most important things to remember is that for an investment property venture it doesn’t matter whether or not you like the design or style of a home - the two main factors to take into account are location and price.

Location

As with all real estate purchases, the most important criterion for buying a suitable house to flip is location. The worst house in a desirable neighbourhood or an area that’s improving is far easier to resell than the best house in a rundown suburb. You can always upgrade a house, but it’s seldom possible to improve the character and safety of a neighbourhood.

Look for zones with rising property prices, employment growth, and other indications the area is thriving. Avoid neighbourhoods with an usually high number of homes for sale - this could be a sign of a depressed local economy or that residents are leaving due to high crime levels or unwelcome forthcoming developments.

Properties close to good schools, public transport, shops and other amenities are more desirable than those in outlying areas, where homes generally take longer to sell.

You also need to think about the property’s distance from your own home. You’ll be working on this house daily in the weeks and months to come, so you want it to be reasonably close.

Price

Before putting in an offer to purchase, you need to estimate the price at which you could sell the property and how much the renovations will cost.

The standard formula for a profitable flip is to pay no more than 70% of the value after renovations, minus the cost of the project. For example, if the value after necessary renovations is R2 million, and the cost of repairs is R300 000, you should pay no more than R1,1m for the property. (R2 million x 0.70 = R1,4m – R300 000 = R1,1m).

Sound structure

It’s important to look for structurally sound properties, especially with older homes. If you don’t know what to look out for, take along someone who is knowledgeable about building, electrical, and plumbing to help determine if it’s a good prospect.

No matter how much you are attracted to a property, you should avoid any that have signs of damp, or need a roof replacement or rewiring. These projects all take up far too much time and cash to be profitable.

Renovations

You should focus on properties that only need some quick relatively inexpensive renovations. Look for homes where refinishing kitchen cabinets, adding new sanitaryware, cleaning up the garden, freshening paint and updating flooring could quickly transform them for reselling at a profit.

With some experience, you can learn how to estimate the costs of many home renovations and get an idea if a particular property is a good buy or not. Carrying out some renovations on your own home can give you a general idea of costs and project timelines, as well as the type of projects you enjoy and are capable of and which jobs you should rather outsource.

Check your credit score

Unless you have enough cash to pay for a property and all necessary renovations, you’ll need some kind of loan. And although banks are keen to lend at present, lending criteria are still tight. This means your credit record needs to be immaculate – particularly when applying for a high-risk house flip loan.

The higher your credit score, the better interest rate the banks will offer you on a home loan. This can save you thousands when you start house flipping, freeing up more cash to invest in the property itself.

You are entitled to one free credit report every year from each of the South African credit bureaus, making it easy to check your credit score. You can view your account payment history, balances and instalments as well as adverse credit information. Make sure that there are no fraudulent accounts, and that errors are fixed.

If you don’t have a good credit score, you need to start building one before applying for a loan. Pay your bills on time, pay down existing debt, keep your credit card balances low and don’t sign up for any new vehicle finance or store cards.

Stick to your budget

One of the most common mistakes novice house flippers make is to under-budget and then run out of funds. To be on the safe side, add 20% to the estimated cost of any project.

To be successful in this type of venture, it’s essential never to undertake any renovations and repairs you can’t afford, and don’t be tempted to overspend. You want to improve the property just enough to make a healthy profit and keep it in line with what’s selling in the neighbourhood. If you invest too much in the property, you won’t make that all-important profit.

https://www.privateproperty.co.za/advice/property/articles/pro-tips-on-how-to-flip-a-house-for-maximum-profit/7731