Housal News and Articles

Published Date : February 16, 2022

A seller’s market is created when the demand for a particular product or service exceeds supply. This leads to a lot of competition among buyers, which drives prices up. This happens when there are more buyers than available properties for sale in real estate.

In a seller’s market, the seller has all of the power. Because of this, you’ll want to make sure that you do your research and come prepared with your best offer.

If you are trying to get an offer approved in a competitive buyers market, you may need to act quickly and think creatively. Here are some ideas for getting ready:

Make a Clean Offer

The best bids are adaptable enough to fit the seller’s requirements. For example, if a seller requires an escrow, provide a faster escrow or give them more time if they’re still looking to buy a new property. You can also close swiftly and ask them to rent the house back for a set period, but be sure to investigate the benefits and drawbacks of this arrangement first.

If you need an inspection, make an appointment as your offer is approved, or book a pre-inspection before submitting your bid. You’ll be able to remove your inspection contingency sooner if you’re satisfied with the results.

Put Yourself in the Best Light Possible

You should present your proposal professionally. Ideally, it should be typed and accompanied by a pre-approval letter from your bank or broker. Sign any disclosures that have been supplied to you before making an offer. If the seller chooses to deal with you, make it plain to them that you’re serious, driven, and ready to move forward.

Prepare for a Bidding War in Advance

Preparing a plan that allows you to act swiftly is the most excellent technique for competing in a heated market. For some purchasers, this means incorporating an escalation clause, which indicates to a seller that you’re willing to make a better offer if a competitor outbids you. If you decide to include such a condition, keep in mind that an already priced home at the high end of your budget may cause you to overpay. Calculating your monthly payment can help you assess whether you can increase your offer and how it will influence your monthly payment.

In a competitive industry, staying within budget can be a challenge, especially when you need to move quickly. Review your must-have list ahead of time to determine what is non-negotiable and where you are willing to be flexible to avoid spending more than you can afford for a house that appears to tick all of the boxes. Remember to include any home renovation demands in your budget, and choose what jobs can’t wait and which you can save for later.

If you’re looking to buy housing properties in the seller’s market, make sure you are prepared. You may be surprised at the number of factors that come into play when buying a home, and this guide will help you navigate them. Analyze the deal, worth, market conditions, and then make your investment.

Retirement in the Philippines – 4 Factors To Consider When Retiring In The Philippines

Published Date : January 8, 2022

If you want to spend your retirement in all-year warm weather surrounded by beaches and rainforests, then the Philippines is a great option. The government of the Philippines is very welcoming to expat retirees, and the tax situation is friendly. The cost of living is pretty low, making it more attractive to settle in, but there are many more things you have to be prepared for while retiring in the Philippines.

Here are the four factors you must consider while retiring in the Philippines:

Lifestyle

Determine what kind of retirement you want to have. Take into consideration that your lifestyle might remain the same when you retire; you might want to be not too far from where you are right now. Sometimes people have very unrealistic expectations about their plans that can be unhealthy. Experts say you should prepare at least 75 percent of your pre-retirement budget; that way, you can balance your expenses and lifestyle.

Medical Expenses

Setting aside a proportion of your savings for medical expenses is essential. Also, you can’t be sure if you will need it or you don’t as it is a contingency. You can’t cut on it. Ignoring your medical requirement can cause serious consequences, so be prepared beforehand.

Manage Your Current Expenses

If you are planning for retirement now, you might want to prepare yourself to face a time where there is no income in your life. You have to save a lot to pay your post-retirement expenses, which start today. If you spend less today, you are likely to hold more tomorrow. The more savings you have, the more time you get to stay at peace of mind.

Passive Income

Retirement can’t put an end to your income. If you retire, that doesn’t necessarily mean you will stop earning. You should have some source of income so that if you meet any contingency, you have some extra savings up in your sleeves. There are various ways you can earn passively without doing any regular work. So few of the options by which you can earn passive income are an investment in real estate or funds. You can also buy housing properties and rent them out. Another way is to do affiliate marketing. Earning passive income can help you pay your expenses in your financial crisis.

Decide if you want to downsize, what age you plan to retire, and how much you will need to live a comfortable life. But don’t underestimate your current expense; you will not be able to save for retirement as quickly as you would like, so be practical about it. For real estate income or investment, you can explore your options with Housal. You can buy a condo or put your house on rent. There are so many property options it offers for investment. So when retiring, plan everything carefully and practically.

A Buyers Guide to a Sellers Market

Retirement in the Philippines – 4 Factors To Consider When Retiring In The Philippines