It is time for a new house. Perhaps you have out grown your old one or are just looking for a change. So, you go shopping and don`t find anything that is the total package for you and your family. What to do now? How about build one? The first things you will need are some blueprints for your new castle.
Now, assuming that you have already selected the lot to build on, you are ready to begin the actual planning of your dream house. First, take a blank sheet of paper on which you write the items that must absolutely be in the new house. Then make a second list of the things you would like to have if the budget or other relevant considerations make them possible.
When rooms are mentioned, write down the approximate size desired, either in square feet or give the desired dimensions in feet. These will only be approximate, as they must all eventually be fitted into the completed house blue print.
You might begin with something like this:
Living Room:
350 to 400 square feet
carpet floor
fireplace
large picture window
space for grand piano
wall space for furniture
quiet corner for reading
Continue the list until you have included the things you consider essential to a satisfactory house for you and your family. Then, you can start putting the rooms into your overall house blueprint.
The reason for the two lists is so that you can check your list should you find yourself with a little extra budget. Also, it will help figure out where to cut things if the budget gets too tight. If you draw your own blueprints, you will find the list indispensable. You can check your drawings against the list to find out what you are omitting in time to correct the plan.
The second list of things that would be desirable should be consulted once in awhile to see if any of those items could somehow be included in the plan. Possibly a few luxuries will not carry you too far beyond your budget.
When putting together your blueprints keep in mind the overall size of the house and usefulness of the space you are using. This may sound like an idea that doesn`t need to be mentioned, however, if a house that is too small, especially if it lacks storage space, is harder to keep in order than one that is adequate in size. Beware of large porches and verandas. Give thought to who is going to sweep down the cobwebs twice a week and who will sweep the leaves off every day in the fall and who will mop or hose off the dust occasionally. Space that is not useful is worse than wasted. You have to pay taxes on it and keep in cleaned. You have to light it, heat it and paint it occasionally. So do not build more house than you really need.
It is wonderful to have many large rooms, but if you have a large living room, adequate eating space and a good sized master bedroom, perhaps you will not feel too much circumscribed if the den is not large and the other bedrooms are reasonably small. Perhaps the family room and the dining room can be combined, especially if you have a nice breakfast nook. It is entirely possible to get too much house.
Every square foot has to be paid for and taken care of.
When you draw your blueprints, play around with the square footage you are planning on building. You will inevitably come up with a blueprint that will fit your family, style and budget.
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Real estate is big business and many people, hoping to make an income in their spare time, think about taking a free investing course. There are now a few of these on the internet, some of them in the form of an ebook and others in the form of a series of articles and tutorials. One of the things that spurs people into real estate is the recognition that having property with tenants means a lot of income in rent.
If you take a free RE investment course, it will tell you that buying property, whatever its condition can provide you with an income. You buy it, you fix it up and then you rent it out to tenants. Sometimes tenants are particular about where they live. Just as it is hard to sell property in unpopular and rundown areas, so it is hard to rent in them. People like to live in a nice neighborhood. Bear that in mind before you invest in land or property. If you want to start making your first million, remember the following:
You can earn an income
Don`t expect to get rich overnight
There will be some initial outlay
Make sure your credit is good otherwise you could be denied a mortgage
Be prepared to work hard
Make real estate your primary business interest
Take notice of location
Rent coming in every month can save you when you are having a bad patch. Your monthly mortgage repayments will then come from the buildings themselves. A free real estate course will point out these kinds of benefits. Owning property and having tenants is one of the best ways of making money and it has some unique tax advantages. Just remember that you need property in a good location.
When you are taking a free real estate course you will find out that location is key. A central piece of advice is, don`t be blinded by a bargain it`s no bargain if it`s not in a good location. This can be the making or breaking of you in the real estate business. If you buy a property in a good location, even if it is shabby, it will rent and stay rented a better property in a poor location could remain empty for weeks or even months. Copy the supermarket giants, their major business strategy is to give the customer what they want. The same applies in real estate. What the customer or tenant wants, is location. So give it to them and make money.
What the supermarkets know is that the customer is king. Taking a free real estate course will present you with the same argument. Nobody ever made money without giving the customer what he or she wants. People will not spend their hard earned money if they don`t like a supermarket`s stock and they won`t rent a place if it`s not in a good location. This is one of the single biggest secrets of making money in real estate.
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