Finance Archives - Page 3 of 21

What to Fix Before Selling a House? The 6 Improvements That Are Absolute Must-Dos

June 24, 2019 by Mandy

Due to the high cost of moving, most people are reluctant to pour money into the house they are leaving behind. Maybe you have learned how to live with a faulty electrical outlet or the toilet handle is not working properly. These may seem minor issues but they can deter buyers from making an offer.

There is a variety of property types in the Dubai real estate industry. For instance, if you want a villa, you will find numerous villas for sale in Dubai such as Arabian Ranches Villas Dubai . At the same time, there is a rich selection of apartments for sale in Palm Jumeirah.

With so many options available in the market, you need to make sure that your property is up-to-date in order to attract buyers.

Here are the fixes that are absolutely necessary:

1. Faulty wiring

Electrical issues are of huge concern because they may lead to electrical fires. Rewiring is the only solution to most electrical problems. Chances are most of the problems will require small fixes such as missing nuts, frayed wiring or faulty switches. These fixes will only cost you a few dollars.

2. Poor grading and drainage

Grading and drainage refer to how water is directed away from the house. Ensure the gutters and downspouts are working properly and the lawn slopes slightly to allow water flow away from the house. The solution could be as simple as cleaning the gutters.

3. Roof problems

If the gutters are clogged, running water is collected along the edges. This can damage the shingles and cause the wood to rot. In addition, the roof can also endure other damages due to varied weather conditions. If some of these damages are not fixed on time, you may need to replace the entire roof.

4. Foundation

Improper drainage is one of the major causes of foundation issues. In some cases, foundation issues can be caused by the natural settling of the house. Severe foundation problems may include slanted floors, cracking walls, etc. Sometimes severely damaged foundation can affect the structural integrity of the house.

5. Poor upkeep

Some cosmetic issues such as peeled paint, worn out carpet and damaged tiles, may seem minor, but can cause the price tag of the house to drop. Conducting a simple facelift can significantly increase the value of your house.

6. HVAC issues

Due to the high temperatures in the Middle East, it is difficult to sell a house if the HVAC system is not working properly. Sometimes you may only need to make small repairs. However, if the system is completely damaged, you may need to replace it.

What makes a penthouse so unique?

June 24, 2019 by Mandy

Source: Unsplash | Yucel Moran

Penthouses are the latest trend in the Dubai property market, and it is becoming a preferred housing option for most home seekers. The idea of penthouses became popular in the 1920s during a construction boom in New York. These are the uppermost floors of a high-rise building. They are different from the typical apartments in more than one ways like added luxury features.

If you want to get the best deal when buying a penthouse, you should consult top real estate brokers in Dubai. Also, you can consider the numerous apartments for sale in Dubai Marina or Citywalk apartments Dubai. Experts indicate that it is the right time to buy a property in Dubai because prices are low.

Here are the reasons why penthouses are unique:

Privacy

Privacy is one of the biggest benefits of living in a penthouse. Since they are located on the uppermost floor, there is a pleasurable living environment with the highest privacy. Unlike traditional apartment setting where several units are placed on a single floor, penthouses occupy larger spaces. In fact some have private entrance to differentiate them from other accesses of the building.

Exclusive features

In most cases, the living space in a penthouse is well planned with high quality fitting and fixtures. For example, they have glass walls, lavish flooring, uninterrupted scenic views of the skyline, etc. Residents also have access to amenities such as gymnasium, swimming pools, Jacuzzi and others.

Spacious terrace

The spacious terrace is one of the reasons why penthouses are becoming popular in Dubai. Nowadays, penthouses are featuring sufficient outdoor area with plenty of space to entertain guest. However, some developers compromise the living space to accommodate the large terrace. Nevertheless, it is a fair compromise due to the undeniable status symbol associated with penthouses.

Location

Another most alluring feature of owning a penthouse is access to necessary facilities such as banks and grocery stores. Most penthouses are located in urban areas or in high-end developments like Downtown Dubai.

Quiet and peaceful

As mentioned earlier, penthouses are located on the topmost floors of high-rise buildings. As a result, residents are away from the traffic and loud city noises. In addition, since its located on the top floor, you will not be disturbed by neighbours or their guests.

Sufficient natural light

Usually, penthouses come with unobstructed views which provide plenty of natural light. This does not only bring brightness to the unit, but it also lowers lighting bills.

New or Used Car? Buy the right one that fits your Budget!

June 19, 2019 by Mandy

Buying a car can be a bit overwhelming. First, you have to think about what you can afford. Then, you have to think about what kind of car you need, its features, gas mileage, and more. On top of all of that, you have to brush up on how to deal with car salesmen.

The most important decision you’ll ultimately make, however, is whether to buy a used or a new car. While both can be good choices and both have their own pros and cons, your budget and some other factors will ultimately determine what you should do.

Can You Put Down 20%?

If we had our choice, we’d probably all go out and buy new cars. However, not everyone can afford a new car.

A good litmus test for whether you can or not is to look at the total price of the vehicle. Are you able to come up with 20% of the vehicle’s total asking price as a downpayment?

If the answer to that question is yes, then you can probably afford to purchase the car. If the answer is no, however, then you’ll probably want to look at cheaper new cars or veer into checking out your used uptions.

How’s Your Credit?

Another thing to think about is what your current credit score is. You can check your credit for free online if you’re not sure. Just go through one of the three major credit bureaus in the US for accurate results.

If it turns out that your credit is poor, then you usually can’t get a new car without paying a large amount of interest. Your best option in this case is to either buy a used vehicle or to take steps to repair your credit before making a purchase.

If your credit is good, however, then you should be able to get both a new car and a low interest rate with no problem!

How Soon Can You Pay it Off?

When you’re looking at new cars, pay attention to how long the loan lasts.

Most car loans are for anywhere from four to six years. The longer your loan is, the more you will pay in interest fees.

If there’s a new car that you want, but you know you will need longer than four to six years- with four being ideal- to pay it off, that’s probably not the car for you.

In this case, you’ll need to find something more affordable and/or used for best results.

Is Your Income Stable?

Think about the job you have now. Are you likely to have this same job in six years, when your loan is paid off? If no, are you likely to have an even better, higher-paying job?

If you can’t answer yes to those questions, then it’s probably not the time to buy a brand new car. New cars take time to pay off and require a very stable, reliable income.

Until you have a job you plan on keeping for the long-haul, you’ll probably want to stick to used vehicles.

New or used is a question every car buyer has to ask themselves. If you follow this advice, however, you can answer the question correctly and in a way that will benefit you long-term.

The Steps You Need to Take as an Executor of a Will

June 8, 2019 by Mandy

When a loved one passes away, it can be a difficult strain on all their friends and family. However, it is extremely important that you, as an executor of their estate, find out where the Will is and what you need to do to fulfil it. Here are some of the steps you should take.

What is the Executor?

The Executor is someone who is named in the Will as the representative of the deceased. They are responsible for seeing that the estate is divided up correctly and legally, as well as ensuring that all the extra details like potential inheritance tax are dealt with. If you are an executor of a Will, the person who has appointed you will hopefully inform you of your role when they make the will.

Find Out Where the Will is

When someone has passed away, the first thing you need to do is locate their Will. It could be kept among their papers in their house or it might have been left with their solicitor. These are two of the most likely places where a Will could be left and so they are worth checking first.

When the Will has been found, the next step is to check that it is the most up-to-date version. If there any newer versions, they should be the ones which are valid and should be carried out. Check with the deceased’s solicitor, they should have a full timeline of when amendments and changes were made which will help to verify that the Will you have is the right one.

Obtain the Grant of Probate

When you have the Will, you will need to obtain a grant of probate. This is a court order which allows you to administer the estate as dictated by the Will. Most estates are going to need a Grant of Probate before they can be administered; only estates worth less than £10,000 can sometimes avoid one but they are obviously incredibly rare.

The first step you will need to take is to value the estate to see if it meets the standards for Inheritance Tax. The threshold for this is £325,000, so if an estate is valued at £300,000 then it won’t be taxed at all, while an estate of £350,000 will have to pay tax on £25,000 of it. Due to this, it is incredibly important that the executors work out how much tax they will need to pay, especially as there is a time limit for the tax payments.

Divide the Estate

When all of the legal paperwork has been taken care of, and in the instance that there are no contests on the Will, you will then be free to divide the estate and give out what has been left to those named.

It will never be an easy process, but it is a very necessary one and you may even get some closure following the death of your loved one. If you have any questions about being an Executor, don’t hesitate to contact a solicitor for more information.

Planning a Retirement Party for Your Father

May 8, 2019 by Mandy

Is your dad retiring soon? Are you thinking about throwing him a retirement party? A retirement party is an excellent way to show all his achievements and send him into the next chapter of his life with great memories and a celebration. Include family members, friends, and colleagues in the planning to attain a great collection of memories. Awards plaques are a great way to honor his time at the job he is retiring from. This can be done by placing his start and end date along with a slogan or phrase that he commonly used in his career. Keep in mind your dad’s favorite things and places when choosing a theme for the party. Decorate the party venue with things that will represent the theme you are going for like banners, balloons, and photos. Adding decorative food items, like fruit arrangements, are a great way to add décor and snacks.

Pick a place to have the event that will have all the things needed for the party to go as planned. Determine this by figuring out how and where you can successfully implement and include all the activities and people that will be a part of the party. Picking a place where your dad can ultimately feel comfortable while entertaining family, friends, and colleagues is the key. This can be at his workplace, at the family home, a restaurant that caters events, or even an event venue depending on how many people will be a part of the retirement celebration.

The food should be something your dad will like, as well as something the guest will enjoy. If your dad has a favorite type of food or a favorite restaurant that he enjoys, try to have that included at the party. Many restaurants have catering menus or will be glad to create something. Just be sure to plan well in advance as this is usually required.

Create a list of family, friends, and colleagues to invite to the party. Make a list of things your dad might like to do after retirement and include them in a collage video or on cards that can be read out loud at his party. Be sure to get family, friends, and colleagues involved in that process. If he likes to exercise, give him some ideas for classes to promote wellness. If your dad has always wanted to take that trip to Florida, include that in his things to do collage.

If your dad knows what he is going to do when he retires, then you can share that with the guest using photos or a video. Have his family, friends, and colleagues share their ideas ahead of time for fun things your dad can do to make his retirement enjoyable. After doing this, read the suggestions at the end of the party. Make a video montage that includes stories about your dad’s career, such as his first day of work. Include things like how he spent his first paycheck. It could also contain things like the first car he purchased as a result of having that career. Reach out to his colleagues for any information they can give you to include. Collect pictures with him at his office. Include any selfies with his colleagues, or pictures taken doing his job. Try to get pictures from work events that he took part in. Include some time for speeches from family, friends, and colleagues.

Have the guests at the party talk about a meaningful experience that they shared with your dad. They can also talk about funny memories that created the bond they have. Ask your dad to respond to everyone by talking about how he feels in that moment. Be sure to capture all the speeches and events from the party on camera to create video coverage of the party. This will give your dad a wonderful memory to look back on. Make sure to take lots of pictures so that you can also build a memory book of the party when it’s all done. This is something he will treasure.