Property Sourcing Tips From Some of the Best in the UK
Why Solid Wood Furniture Pieces are Worthy Investment
It is truly hard to beat the classics. The same is true for furniture. When looking for pieces to add to your home, classic pieces are never going out of style.
The naturally beautiful and appealing look of wooden furniture just makes them such elegant addition to any home setting. These days, a number of retailers that offer heirloom furniture offer a wide array of finishes to make sure that the pieces you end up with will suit your colour preference. These finishes will allow you to go for wood that is darker or lighter. Getting wood furniture gives your home not just pieces that are sturdy and elegant, but ones that truly scream class.
It is a fact though that furniture pieces made from real solid wood can be a tad bit expensive. However, these are among the sturdiest furniture pieces that you can buy out there. If you are hoping to make a purchase that is going to last for years to come then you will no longer need to look any further.
You are doing the environment a huge favour if you will choose to go for hardwood furniture pieces too. The natural longevity of the furniture means that it is a much better option for the earth and the environment, furniture pieces of this kind are designed to last for many years to come. This means that they will not require any replacement anytime soon- certainly an eco-friendly way to furnish your home.
Aside from its gorgeous appearance and naturally long life, there are different types of high-quality hardwood for the interested buyer to choose from.
Oak is a very popular choice for fine wood furniture. It has bendable qualities and is able to avoid moisture while preventing shrinkage.
Cherry is known for its smooth-textured wood and its straight, close grains. It is a popular choice for many due to its colour. Its reddish, darkened hue is known for its beautiful finish.
White oak is known for its smooth texture and is known to resist moisture well. It has a more varied colouring and can have hues that are creamy to even grey. It is also very durable.
Maple wood is popular for its hardness and strength as well as its fine texture. While it may sometimes experience a little shrinking, it is still quite well-known as material for fine furniture.
Hickory may not be as well-known but it is one of the strongest wood types for fine furniture making. It is quite resistant to stains too when compared with other wood types.
Elm is known to dry very well, which means that it displays little to no shrinkage. It has interlocked grains, which means that it resists bending. It is found in shades of reddish brown to dark brown.
The beauty of hardwood furniture is that you are actually not just investing in any furniture piece, but ones that will last for many years down the road. Check out Oak Furniture Superstore reviews online and find the best wood furniture pieces to add to your home.
Why Solid Wood Furniture Pieces are Worthy Investment
So you have decided to buy a property. Well, the thing is that it is probably one of the largest investments you will be making, so with big money investing comes financial responsibility. It is important when buying a property whether it is for your own home or a residential or commercial investment to first do the figures and see how they stack up.
Over the years I have invested in many property investment courses and as quoted by Mr Russ Whitney “don’t buy a dog.” What exactly does that mean? Well it means you do not buy a property with basically just one exit strategy thinking you can flip the property on to someone else and make a quick profit. You need to allow yourself at least 3 exit strategies if you are a professional investor.
Things you need to look at would be what the market rental prices in the area is like for your particular type of property in your location or a similar one. What is the upside potential? How much money can you make by buying the property in a slightly shoddy state and just painting it, maybe putting new windows and doors, bathrooms, kitchen and new flooring. So if you buy a property that looks run down and needs a bit of work, for $120,000 and spend $10,000 what will be the price of that property if it was renovated in a fire sale. If it is $160,000 that means you make 25k profit after taxes real estate fees etc come off. So what money will be left over as a profit for your work and investment. That is what you should work out long before buying.
If you work out you need to make a minimum of $30k per property then offer less than the 120k maybe offer $100k and allow the agents to go up to 115k. That will leave you your 30k firesale profit. What do we mean by a firesale? Well if you needed to sell the house in a hurry what would be the price that a buyer would jump to buy in a hurry? If you count the market value top price index you might have to spend a year or two trying to sell the property. This in turn will make you a motivated seller and make you get less for the property if you are in a hurry to sell it than what you needed your profit to be. Therefore eating up into your profits not to mention an extra year or two maintenance fees, estate agents fees and upkeep of the property.
The other great thing about investing in many countries is that the Government will allow a depreciation tax allowance on properties, unfortunately in a few countries they seem to be doing away with these but if you are lucky enough to live in Australia then you will be able to use this depreciation allowance to offset some of your property taxes too.
If you have not already done it make sure you check out this Property Depreciation Calculator