Some people may tell you that a real estate investment makes for a good source of income. Find a property, rent it for a certain amount per month, and use the money to pay it off. Once that is done, what you make in rent beyond that becomes profit. Of course, as a property owner you will eventually deal with repairs and tenant issues, so if you are not willing to field headaches of that variety condo investment may not be for you. However, if you find the prospect of owning property either for your personal use or as a money-making opportunity appealing, you may want to research when is the best time to buy.

The short answer to this question could be: when you find the right condo and it’s for sale. It is true that you do not want to buy the first listing you see, but various circumstances may not permit you to buy at a certain time. Purchasing a condominium is a serious investment that requires research and thought, and if you are new to such real estate transactions you want to pay attention to the market and your finances.

Before you invest, ask yourself this:

1) How much can you afford? Depending on where you live, you could probably score a condo in a short sale or foreclosure at a good price. However, the key to making a wise investment is being able to pay for it. If you’re buying a condo on the cheap because the original owner could no longer afford it, you don’t want to fall into the same trap. Make sure you can make the payments or else rent the condo to supplement your income.

2) Where is the condo? Location is still king in real estate. What’s the point in buying a property where people don’t care to live? If you are fortunate to get in on a place in a transition neighborhood – like a downtown area being developed to encourage urban residents – you may attract interest. You need to carefully research the rental potential of any condominium you wish to buy.

3) Do you anticipate any obstacles that would prevent you from closing a deal? One may hesitate to make a large purchase if there are problems on the horizon. Health problems and the need for a new car are just two. If you worry that your money will be tied up elsewhere you may wish to wait.

When you know you have a good financial cushion, a good property in a desirable location, and interest from renters, that is a good time to consider your investment.

Kathryn Lively is a freelance writer specializing in articles on Norfolk real estate and Chesapeake homes for sale.

For some potential home buyers, it could take weeks or longer to find the right home worth a bid. If you’re like me, you’ve probably toured every potential property for sale in town before you discovered that one home that just clicked with you. You could afford it, you loved the neighborhoods, and you would be close to work, school, and other favorite haunts. Then just as you make the bid, another party does the same, and soon other buyers are interested in “your” house.

Depending on the state of the real estate market and your budget, you may go one way or the other in reaction. If you really want the house, you may be inclined to top the highest bid, but you don’t want to go overboard and end up committing to a mortgage you can’t afford. It is therefore important to know that you don’t necessarily have to bid high to get the house you want.

Just because another buyer has offered more money of your dream house does not mean that the seller will accept that bid. The seller may choose any party he/she wishes, or decide to take the home off the market if not wholly satisfied. More than price are considered when it comes to choosing the right buyer for a home:

• Closing costs – A potential buyer could outbid you on price, but offer nothing in the way of handling closing costs. If you are serious about the home and can afford it, discuss with your real estate agent the possibilities of covering these costs (and making sure the seller knows it).
• Qualification – A potential buyer that outbids you still needs to receive approval from a lender. Should something fall through and the buyer is not able to make good on the bid, the seller isn’t likely to accept it. It’s important to know exactly how much you can pay for a home and know you can be approved for a home loan.
• Time – A seller may want to close as soon as possible in order to move or buy a new house. If a seller offering more money isn’t able to close on the seller’s schedule, that potential buyer may be turned away. It is important to know how quickly the sellers wishes to complete the sale, and determine whether or not you can abide by those needs.

When dealing with multiple bids on the home you want to buy, pay attention to what other buys have offered, and research what the seller wants. It may not always be more money.

Kathryn Lively is a freelance writer specializing in articles on Virginia Beach homes for sale and Suffolk real estate.

I suppose if anybody outside of the actual moving industry could be considered an expert on protecting furniture during a move, I might come close. Over the last twenty years, my husband and I have moved from home to home more times than I care to count. In some cases, a transfer to another city necessitated the move, while others happened following unreasonable hikes in rent to loss of the home because the owner intended to move back. Regardless of how we came to move, every time we did I believe I learned more about protecting our furniture from damage and scratches. If you find you must pack up the truck and head in another direction, you definitely want to take care of your stuff.

Believe me, there is nothing more frustrating than unpacking your home to find dents and dings all over your “good” furniture. It’s understandable that over time your sofas and shelving may show wear and fading, but improper care during moving can magnify existing flaws. The result is that your home may look full of second-hand thrift store chic. If that’s not the look you want, you need to take care to protect your goods before they are loaded on the truck.

Over time, my husband and I have taken care to do the following when it’s time to prepare for a big move:

1) Remove everything from shelves, drawers and cabinets, and clean everything thoroughly. There is always the chance of picking up a bit of dust en route to the new place, but if you take care to clean your furniture – especially your woods – you are less likely to bring it into your new home.

2) If it comes apart, take it apart. This goes for beds, shelves that come out of bookcases, anything sectional. The pieces are easier to wrap, pack, and protect, and you’ll make more room in the moving van and reduce trips.

3) Use moving blankets and packing tape. Some sites on moving may suggest bubble wrap, plastic sheeting, and large bags. I say those things are fine for smaller items and things that are durable. The thicker blankets, however, provide a nice layer of protection for wood furniture and fabric couches. Wrapped in plastic, a wood table could still endure damage and scratching if poked by something sharp during travel. A blanket provides a better buffer.

When you tape the blankets securely around your furniture, be careful not to touch the tape to the surface. You don’t want to pull away any paint or stained color.

Lastly, take your time moving items. Don’t feel as though it’s a race to get from one house to the other. With good planning and preparation, you’ll have your new place set up in no time.

Kathryn Lively

It only took one viewing of the “Hoarders” TV show to get me thinking about how much stuff I have in my house. While one can still walk through the rooms without difficulty, there are times when I wonder if I am dangerously close to the hoarder label myself. As homeowners, we tend to accumulate things over time – household necessities and luxuries, toys that our children eventually outgrow, and even things that become obsolete but have too much sentimental value to give up. If you find your home life has become too cluttered for you to stay comfortable, it’s time to literally clean house.

However you decide to dispose of unneeded or unwanted items – a garage sale, donation to charity, or giving away to family and friends – it’s important to commit to the project once you decide it needs to be done. The longer you wait to clear your home and garage of unused objects, the less likely you are to get rid of them altogether. You might find if you move, you end up taking everything with you to the next place and clogging up those closets! It can prove challenging to sort out the keep and discard piles, but as you create them you may sense your mind becomes uncluttered, too. All you need to do now, of course, is light the fire.

So, what stays and what goes? If you need a bit of help deciding, here are a few simple starts to get the ball rolling.

1) Clothing. Many of us are still hanging on to that favorite pair of jeans that we hope to wear again one day…as soon as we’ve lost ten or twenty pounds. It is good to have some kind of inspiration to guide you toward weight loss, but if you’re holding onto a large, outdated or unwearable wardrobe you should consider letting some of it go. When you do lose the weight, reward yourself with a new outfit to show off.

2) Toys. Toys can be items of sentiment for parents as well as children. We want to hold onto their youth as long as possible, but accumulating too many toys that don’t get played with can lead to a messy room. Be a good judge about age-appropriate toys, and take away what your children have outgrown.

3) Kitchen accessories. When was the last time you used that rice steamer, or the crepe pan? Do you ever plan to use them? If not, there’s no sense in keeping them to take up space in your cupboards.

As you continue to weed away outdated items, you’ll find it becomes easier to do. Giving up stuff doesn’t mean you’ve become heartless, only practical. Much of what you own and give away will prove useful to somebody else, and in turn you can breathe with more space in your home.

Recently the media in Southeastern Virginia has covered speculation that the seven major cities of the Tidewater, Virginia area come together to form one large city. Residents here already refer to the metropolitan area as Hampton Roads, though a newcomer to the area may confuse the moniker for the actual city Hampton, which lies somewhere in the middle of the region. If you have considered buying a home in Southeastern Virginia, there are a number of advantages to living in this historic city.

In recent years, Hampton has made several improvements to their main traffic areas. The Peninsula Town Center and Power Plant shopping areas offers residents and visitors upscale boutiques and eateries in a comfortable environment. Both are close to the Hampton Coliseum, one of the more popular entertainment venues in the region. People living in Hampton do not want for entertainment options like movies, sporting events, and water recreation.

Other considerations a potential home buyer may wish to make about living here include:

1) Location. Hampton sits on the Upper Peninsula side of the region, and borders the Hampton Roads Bridge Tunnel which connects the Peninsula to the Southside cities of Norfolk and Virginia Beach. If you travel often to Richmond and Washington, DC, you’ll find living in this area eliminates the need to face tunnel traffic and can make the commute north easier.

2) Education. The city is home to a major, historic university and close to several community colleges and the College of William and Mary. If you have thought about a degree you don’t have to go very far to get it.

3) Recreation. Residents can relax during the summer at Buckroe Beach, and Busch Gardens Europe of Williamsburg. If you enjoy sailing and hiking, you’ll find many opportunities to do both in the area.

4) Cost of Living. Resident in the Upper Peninsula favor the region because home prices are typically lower than they are in Virginia Beach. One can find a reasonably priced home in a good neighborhood here for around $200,000 – $300,000.

Whether work, marriage, or other opportunities bring you to the Tidewater area, you have an advantage in choosing one of several cities to live. Some may say Hampton is the halfway point of this metropolitan area – it is conveniently located and a sizable city that is easy to navigate and close to many area attractions. Contact a local real estate agent for information on homes for sale.

Kathryn Lively is a freelance writer specializing in articles on Hampton real estate and Virginia Beach homes for sale.

Some people only need one reason to buy a condominium as opposed to a house. If you are looking for a new place to live, and are located in an area where condos are plentiful and ideally located, you no doubt have given the prospect of owning one some serious thought. Yes, there are things to consider like monthly or yearly fees, payments following assessment, and living very close to your neighbors, but condo living is not without its many advantages. If you are scraping for just one reason to buy one, here are ten from which you can choose.

1) Buying a condo is a good investment. You could live in one for many years, but if ever you need to move you have the option of turning your property into a rental. Condos are typically a prime rental property in resort areas – you could rent yours year round or during peak seasons.

2) Owning a condo usually means less yard work. If you buy into a high-rise, you definitely don’t have to mow a lawn! However, if you buy into a more spread out community, your fees cover the cost of landscaping.

3) Buying a condo is a better investment than renting. When you rent, you give money away to live in your home. When you’re finished, you have little if anything to show for it. Buying a condo gives you property that is yours.

4) Simple repairs and renovations may be covered in your fees. Unlike with a home, you probably won’t be able to add on to your condo, but simple fixes in plumbing and electricity may be handled by your condo community, so you’ll save time and the hassle of hiring a contractor.

5) You gain access to amenities you might not obtain otherwise. Pool ownership, for example, can produce headaches. Buy a condo with pool access, and you can enjoy the luxury without the stress of maintenance.

6) You want security. Most complexes offer some level of security, be it gated borders or password-protected entryways. Your fees cover this benefit to condo life.

7) You want to de-clutter. Often people move from houses to condos after children have moved away, they have divorced, or they want to downsize. If the maintenance of a house is too much for you to handle these days, scaling down your possessions and moving into a smaller condo is probably the right step to take.

Your job doesn’t suit a house. Let’s face it: houses mean work. You have to make sure everything runs, and that the lawn is neat. If you travel extensively or work long hours, you don’t have time to take care of maintenance. Living in a condo, however, takes some of the load off your shoulders.

9) You like being around people. Condo living puts you in proximity with your neighbors, whereas home living can be an isolated existence. If you are social, a condo community may be ideal for you.

10) Condos are cozy. You want to feel comfortable where you live, and condo living gives you the right amount of space without making you feel claustrophobic.

If you’re looking for a new place to live, considering looking into a condo for sale in your area.

Kathryn Lively