Amazing Property

If you’ve outgrown your home but don’t want to move, you might be thinking it’s time for a renovation — but that’s not your only option. If you’re after a bit of extra space, a brand-new kitchen and bathroom, or simply an update on your tired home, then you could be considering a renovation. However, an extensive remodel may be more trouble than it’s worth. Plus, if there are any nasty surprises, it could end up costing a lot more than you initially planned. An alternative option is knocking down your house and rebuilding your dream home from scratch — and it could be much easier than you think. Shifting desires With Australians spending more time at home, it’s no wonder that upgrading living spaces is high on the agenda. The pandemic has many of us pondering how to upgrade our homes, according to Anne Flaherty, economist.at realestate.com.au. “People are spending so much time at home with lockdowns, while also working from hom...

2020 hasn’t been the best year for property sales. The market has experienced its biggest decline in almost a decade, slashing agents’ earnings dramatically. For many, this has led to cash flow issues as income has dropped or dried up altogether.  The role that commission plays in the real estate industry means that you need to prepare for unexpected dips. The best way to do this is to take a proactive stance on money matters so that future downturns don’t dent your pocket.  Draw Up A Plan and Budget A cash flow plan and a budget are two essential tools for managing income and expenses. Your plan and budget must cover 12 months, and rather than making it a once-off exercise, revisit those documents regularly, adjusting them as required. When drawing up your budget, include cash contingency plans that offer some relief if unexpected obstacles arise. Your annual projected income and expenses must be added to provide an accurate overview. Additionally...

NSE President,<br />Babagana Mohammed Professionals under the aegis of Ikeja branch of the Nigerian Society of Engineers (NSE) have called on the Federal Government to develop enabling policies and guidelines that would drive the growth of engineering in the country. They stated that it’s important that engineering is properly developed before Nigeria could talk about industrialisation. The experts stated this at the yearly engineering week of the branch entitled, ‘Integrated engineering development as a catalyst for homegrown industrial revolution’ organised by the branch in Lagos. Leading the call, the chairman of the branch, Mr. Olutosin Ogunmola said with the poor state of the economy, it was important to put a spotlight on industrialisation of the economy, which should be anchored on engineering development for home-grown industrial revolution. He said: “We are indeed a struggling nation because Nigeria isn’t a production economy. Any ...

Following persisting unfavourable policies and a full-blown foreign exchange rate crisis that has brought Nigeria’s economy to a halt, property developers and experts have warned that real estate sector would be worst hit, if the situation persists. Apart from the effects on construction cost variations on projects that may force investors to shift completion, a significant part of the nation’s labour force in building and construction industry, mostly artisans from neighbouring countries such as Togo, Benin Republic and Ghana, may leave in droves. They said this will further compound housing affordability of average Nigerians, whose purchasing power has been eroded by the depreciated value of the naira. However, it should be expected that Nigerians, both at home and in Diaspora, in possession of United States of America dollars would take advantage of naira depreciation to buy existing property stocks before price adjustment. The Managing Director, Affordable Housi...

Real estate firms saw business activity increase over the past year as the housing market surged across the country. In 2020, single-office firms had a median brokerage sales volume of $4.5 million and 19 real estate transaction sides, up from $4.2 million and 18 in 2018, according to the National Association of REALTORS®’ newly released 2021 Profile of Real Estate Firms. The biennial survey reflects responses from more than 6,000 REALTOR® executives and senior managers about business activity. Firms with four or more offices posted a median brokerage sales volume of $146.2 million and 571 transaction sides in 2020, an increase from $100 million and 478 sides two years ago, according to the report. Nearly three out of five real estate firms expect profitability or net income from all real estate activities to increase this year too, the survey shows. But they do expect headwinds could undercut some of that growth over the next year. Real estate firms noted the biggest ch...

The crowd has spoken and here are some of your favourite moving house tips.  After putting the question to our realestate.com.au Instagram followers, we’ve narrowed down some of the best moving tips you can use for your next move. From careful planning to knowing what to keep or cull, here’s some hard-earned moving wisdom from which you can benefit. Plan ahead – organisation is key! The main response we received from you was planning really pays off. Here are a few of the best planning and organisation tips you gave: Get organised and start packing as early as possible. Picture: Pexels 1. Book your movers ASAP The majority of our Instagram poll respondents said they preferred to book their removalist ASAP. Good movers tend to book-up well in advance, meaning you’ve got to get in quick if you want to get the best movers on the right day. 2. Schedule to transfer your utilities Moving house doesn’t just include the physical moving of your stuff. You also ...

Question : Our board dealt with a contentious issue recently. When it came time to vote, one of the directors pulled out a proxy from an absent director authorizing her to vote on his behalf. Is that proper? Answer : Proxies are not appropriate for board meetings since directors are elected to perform HOA business. Elected officials are not entitled to have others stand in for them. Proxies, of course, are appropriate for votes that involve the general members who are having someone represent their personal interests. Question : A couple of our condominium building roofs are beginning to fail. We recently performed a reserve study and discovered we do not have enough in reserves to do all the roofs let alone the other components for which the HOA is responsible. In order to avoid a special assessment and/or increase in maintenance fee to catch-up, some directors are suggesting doing one building at a time. Another is suggesting we let the residents in each building pay for t...

Proposed parkland estate in Isolo, Lagos A Lagos-based developer, Wealth Island Properties has implored the federal and state governments to commit more funds towards infrastructure development across the country to mitigate the challenges faced by housing developers. The Managing Director of the firm, Mr. Tade Cash made the plea during the groundbreaking ceremony of a 150- units Parkland apartment consisting, two and three bedrooms in Isolo. He stated that in other countries, the government provides infrastructures before houses are built noting that in Nigeria, houses are built before the government considers whether they would provide any infrastructure. “The bridge that connects the housing estate costs about N40 million. It is challenging what people go through to provide a house. The problem of infrastructure for developers is huge. If a developer creates the infrastructure that works, people are willing to come in and buy. It is expensive to do infrastructures;...

Sanwo-Olu. Photo/facebook/jidesanwooluofficial Demola-Alade sworn in as 27th NIESV’s chairman To unlock more investment, the Lagos State Governor, Babajide Sanwo-Olu has reaffirmed the administration’s commitment to synergise with members of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) to sanitise the industry for the benefit of the people and development of the economy. He disclosed that the government has implemented reforms that would ease the process of property investment through the Lagos State Real Estate Regulatory Authority and the state’s task force on land matters. The Governor spoke at the investiture of Mrs. Olabisi Demola-Alade as the 27th chairman of the Lagos branch of NIESV. Represented by the Commissioner for housing, Moruf Akinderu-Fatai, he noted that government is open to ideas and initiatives that are targeted at improving the living standards of residents, adding the administration is ready to welcome all ideas aimed ...

Homes in ‘Zoom Cities’ Sell in Less Than a Week | Realtor Magazine Internet Explorer does not currently support REALTOR® Magazine search. IE users, please download Firefox, Chrome, or Edge. The market has shown some signs of cooling, but in some cities, buyer demand remains extremely high. Many of these places are nicknamed “Zoom cities,” which is a reference to the teleconferencing platform. As remote work has grown during the pandemic, several of them saw an uptick in their real estate activity. Zoom cities tend to be medium-sized metro areas and also often are near college towns. The real estate brokerage Redfin identified these cities through its Compete Score, which measures the number of competing offers on a property, the number of waived contingencies (such as inspection and appraisal), how much a property sells above the asking price, and the number of days on the market. Here a...