SkyFive Properties Blog

Colorado is an appealing place for potential transplants. The Centennial State added 70,000 residents in 2017, a growth rate of about 1.4 percent.

That’s a good amount of growth. Yet the housing market in Colorado still varies depending on which part of the state you’re in.

Denver is still the most populated city and county in the state. But El Paso County, which includes Colorado Springs, is closing in fast.

In fact, at least one report predicts that the Colorado Springs housing market will become the hottest market in the entire country in 2019. Keep reading to find out some Colorado housing market basics.

The Denver Housing Market

There are plenty of good reasons to move to Denver. You’ve got plenty of arts and culture opportunities inside the city. If winter recreation is more your thing, you don’t have to travel far outside of the city to find stellar ski slopes.

But the Denver housing market has been up and down lately. The prices are high, but fewer people are buying.

Anyone trying to buy a house in Denver in the first part of 2018 ran into a white-hot sellers’ market. Both real estate agents and referral agents stayed busy.

As the year dragged on, though, housing inventory went up in the Denver area. Houses and condos began staying on the market longer. By year’s end, metro Denver home sales were down 5.5 percent from 2017.

That said, the average price of a Denver-area home is still more than half a million dollars. If you want a condo instead of a home, you should prepare to pay an average of about $350,000. Home values in Colorado show no signs of declining anytime soon.

The Colorado Springs Housing Market

If you drive 70 miles south of Denver to Colorado Springs, you’ll get a different story. In Colorado Springs, buyers are more likely looking at both high prices and low availability.

Colorado Springs has a lot of jobs and a lot of young people. As young people move up the career ladder, they’re more likely to stop renting and start house-hunting.

Colorado Springs has a sleepy reputation that doesn’t match the reality on the ground. Its population is rapidly approaching 500,000.

So what’s a buyer in the Colorado Springs housing market to do? For starters, you should know that an offer is more than just the price tag of the house.

Things like closing costs also factor into which bid the sellers choose. In Denver, you can sometimes get away with trying to split closing costs. But in Colorado Springs, you may have to offer to pay all the closing costs yourself if you want your offer to stand out.

Closing costs will vary depending on the price of your house. But you should prepare to pay about 5 percent of the home’s sale price.

The Housing Market in Colorado

Denver and Colorado are the two biggest markets, but the housing market in Colorado is much more than those two cities. Fort Collins and Boulder are also seeing robust housing sales right now.

Prefer a less populated region? Consider heading west to the Grand Junction area.

Housing market news tends to focus on residential properties. But finding commercial properties can also be challenging in certain conditions. Check out our blog post on commercial property searches to learn more.

Thinking of moving to North Carolina? Well, it has a lot to offer.

With places near the mountains or the beach, cities or suburbs, you can find what you want here.

Let’s take a look at the cheapest places to live in North Carolina.

Why North Carolina?

North Carolina is becoming very popular for “transplants”, or people migrating to different cities. 3 of the state’s cities are ranked among the 35 fastest growing cities in the country.

This is because North Carolina offers a lot of great amenities. From stunning geographical sights to mild winter temperatures, the scenery is incredible year-round.

Places like Durham County are situated in the middle of the state, giving their residents a reasonable 2-3 hour drive from the ocean and the Appalachian mountains.

Beyond the scenery, the state offers a very unique vibe. With so many people coming from different backgrounds, a lot of cultures influence the region.

North Carolina is known for its hospitality, moderate politics, and a relaxed environment.

The best part is that many areas of the state come at very affordable prices. Let’s talk about that.

The 4 Cheapest Places to Live in North Carolina

North Carolina, as a whole, is more affordable than the national average.

As most people know, buying a home in a city is more expensive than in rural areas. We will include both for people with different needs in a new location.

1. Concord

Concord is a small city in Carrabus County with a population of around 94,000.

The average rent price has been on the rise, according to RentCafe, currently at $1,017 a month for a one-bedroom.

This may be a bit out of your price range, but there’s one great fact. The average home price is $168,300. Compare that to the national average of over $300,000.

This is a great area if you want a smaller city to avoid traffic and still get a feel for city life.

2. Winston-Salem

Winston-Salem is a very affordable pair of cities in Forsyth County, with average rent prices at $792 per month for a one-bedroom apartment.

If that’s not appealing, the average cost of a home is only $132,500.

The twin cities of North Carolina offer several benefits, including:

• Medium size – While still a larger city, Winston-Salem has a population of around 244,000. If you want a city vibe, but aren’t a fan of major cities like Charlotte or Raleigh, this may be the place for you.
• Attractions – These cities offer 15 different museums of almost anything you want to learn about. For sports fans, it is also home of the BB&T football stadium.
• Scenery – Winston-Salem is located right near the mountains. This is a great spot for a nice view and some more mild summers.

Check out https://www.winstonsalemhomes4sale.com for more information.

3. Sawmills

This is for people looking for a rural area to move to, with a population of only 5,100 people.

While the apartment industry isn’t booming here, the average cost of a home is only around $110,000.

While fairly isolated, Sawmills is only an hour drive to Charlotte and other cities, and very close to the mountains.

4. Eden

Eden is a nice, suburban area with a population of over 15,000. Bordering at the north

It may surprise you to learn that the average home price in Eden is only $44,000. People buy cars for more!

Even if repairs are involved, this is extremely affordable. If you are looking to repair a home, or purchase a fixer-upper, here are some helpful home improvement tips.

Eden offers very easy drives of less than an hour to cities like Greensboro and Winston-Salem. From Greensboro, located in the center of the state, you are conveniently close to Raleigh, the capital city.

Eden is also located right on the border with Virginia, for easy access to another state.

Next Steps

If you think you are ready to move, there are a lot of important considerations to know before jumping in.

North Carolina is a great area on the east coast. Mild winters, warm summers, and lots of great options for outdoorsy people or city-dwellers.

Now that you know the cheapest places to live in North Carolina, keep doing your research, and look into buying the best property for your needs!

Decorating becomes overrated when you’re trying to put all the pieces together. Every piece, from the ottoman to the couch, should flow in harmony and appeal to the eye. But that’s not always an easy task.

Still, there are ways to focus on what matters to improve the decor in your living room.

The living room is an important space in the home. It’s a gathering place to share ideas and favors with family and friends. In some cases, it’s a landscape for business and financial endeavors.

Whatever the use, the decor should look the part.

If you’re looking for unique ways to decorate a living room space, read this. Learn here how you can improve your living room decor.

Window Treatment

Start upwards then go down. Depending on the color scheme and wall treatments, people tend to look up when they enter a room. Give their eyes something to feast on.

Start with the windows.

The right curtains and blinds can make your windows a positive focal point in the room. If you decide on traditional curtains, go with the blackout option. Blackout curtains are not only modern and trendy, but they also offer unique benefits.

They block out 99% of sunlight, which is important if you’re living room sits on the sunny side of your home. Excess sunlight can fade the color on your furniture, making it ultimately irreversible.

Blackout curtains act as a sun shield, guarding your living area pieces.

Blinds are also a formidable option. The right blinds add texture to your window view. They give the room a sophisticated, modern feel. Plus, they’re economical. Budget Blinds has options for your living space to bring it into the 21st century.

Play with both options until you get the window feeling you desire.

Color Scheme is an Important Part of Living Room Decor

Shades and colors can make or break a room’s decor. And choosing the right color is something the average homeowner struggles with.

Choose your paint color last. It’s easier to match wall colors with furniture than vice versa.

Colors set the tone in a room. If your furniture has accents of blue and green, expect a calming effect in the room. Paint the walls either color. If your goal is to go with a more energizing effect, accent with shades or red, yellow, and orange.

To neutralize a living room, stick with a color scheme that’s heavy on whites, grays, and tans.

Pick a Style

The best way to turn a living space into a junkyard is by not pinpointing a style. This is where cheat sheets come in handy.

Look through design magazines and catalogs for ideas on where to start.

Learn what styles are and pick one. Depending on the style of your home, make the inside match the outside. If your home has dormer windows with an eastern seaboard feel, go with the Cape Cod style.

Cape Cod is a Mid-Century Modern look from the early 1900s. It’s characterized by natural shapes and refined lines.

For a more current look, go with the urban modern effect. Use larger furniture with geometric designs. Accent it with vintage and traditional pieces.

Whatever you decide on, look for thematic inspiration first. Find the design that’s right for you and your space.

Furniture

Once you’ve determined your style, decorate with the big pieces first. The sofa, entertainment pieces, and rug are other focal points in the room.

Picking the perfect area rug can present a challenge. You have to troubleshoot and decide best where they’ll fit in the room. Decide on the size first. A rug that’s disproportionately small can the room look fragmented—disjointed.

Make sure important pieces of furniture—sofa, tables, lamps, etc.—sit on the rug. And, add floor space between the rug and the walls.

Avoid pushing the sofa up against the wall. Doing so shifts the focus to one side of the room. Arrange the furniture so that you have conversation areas and respectful space for traffic.

Fill spacial voids by accenting with throws, pillows, mirrors, end tables, and more.

Lighting

When it comes to lighting a room, there are three types of lighting—ambient, task, and accent.

Ambient Lighting is general lighting that adds an overall glow to a room. It creates enough comfortable light to move around and perform tasks. Lamps, chandeliers, and track lights are good examples of ambient lighting.

Task Lighting is specific to having enough light to perform a task. It’s localized and adjustable for whatever workspace you’re in. It should provide a reduction in glare and prevent eye strain when reading, cooking, or doing other small tasks.

Accent Lighting creates focal points in the room with light. It works in synchrony with ambient lighting. For wall decor like art or stand-alone plants, use accent lights to highlight their beauty.

Depending on the mood you want to set for your living room, choose your light wisely.

Art

Naked walls denote an incomplete room. You don’t have to cover every inch of the walls, but don’t leave them bare.

The art on the walls should flow in cohesion. Use pieces that entice the eye while balancing the room. Remember art is subjective, but don’t go outside of your style theme.

Arrange your art with respect to the ambiance in the room. Then, use an accent light to highlight its beauty.

Mirrors

Mirrors may be a symbol of vanity, but no home is complete without them. Use the right decor strategy when placing them throughout a room.

Mirrors open up a room by using reflections to make the room seem larger than it is. If you’re unsure of where to start with mirrors, stick with the classic design. Classic mirrors work with any decor, while still adding depth to the room.

Also, consider mirror pendants. They look like wall jewelry and add another place of focus in the room.

Improve Your Living Room

The living room is the first place people see when they enter a home. That’s why it’s important to have the right living room decor.

Start with the windows and make your way down to the floor with a modernized area rug. Give the walls some focus, then light the room to your level of comfort.

Review our services for insight into owning and marketing the perfect living space.

Over time, our kitchens are bound to lose a little bit of their luster. While we can put with this for a certain amount of time, there comes a point when enough is enough and a change needs to be made.

Perhaps you’re at this point, but don’t have the money to make big renovations to your kitchen? Maybe you’re wondering if there are any renovations you can make on the cheap?

If so, you’ll be pleased to find out that there are. Here are 5 cheap kitchen renovations that you can do with ease.

Cheap Kitchen Renovations to Consider

While even cheap kitchen remodeling projects will be relatively expensive, they will still be substantially less money than standard remodels. You should be able to complete the following 5 budget kitchen renovations for just a few thousand dollars.

1. Paint Your Cabinets

Because your cabinets comprise a good deal of your kitchen, the simple act of painting them can have a huge aesthetic influence on your kitchen as a whole. You have the option to paint them any color you want and could even add attractive stains to provide them with a touch of elegance.

If you paint your cabinets on your own, you probably won’t have to spend any more than $250. Of course, the exact price depends on the number of cabinets you have and the types of supplies you buy.

2. Swap Out the Hardware

Another cheap and easy kitchen renovation option is to swap out the hardware on your cabinets and drawers. This can generally be done for between $100 and $500 depending on the quality of the hardware that you buy.

3. Add a Light Fixture

One of the most effective kitchen renovations is to change the main source of lighting in the room. For instance, if you use a hanging chandelier, you could consider switching to track lighting. A new lighting fixture can cost anywhere between $50 and $200.

4. Opt for a Cheap, But Effective, Countertop Material

Is your countertop cracked? Maybe you’re just getting tired of looking at it? If so, you could opt to change it in exchange for a cheap, but effective, countertop material.

There are a few different attractive, functional, and low-cost materials available, including butcher’s block and tile, to name just two. These materials cost between $10 and $25 per square foot.

5. Get Thrifty with It

Sometimes, all it takes to drastically improve the look of a kitchen is to replace the chairs, tables, and accessories. While you could absolutely opt for new kitchen furniture and accessories, another option is to opt for cheap, thrifted items.

Scope out thrift stores and antique shops to find vintage chairs, tables, towel hangers, and more.

Thinking of Selling Your Home?

Are you, by any chance, trying to make some kitchen renovations before selling your home? Need a little help with the home selling process?

If so, SkyFive Properties can help. As one of Miami’s premier real estate firms, we have helped thousands upon thousands of home and businesses to sell and buy property.

Contact us today to discuss your needs!

The location is perfect. The schools are great. It’s priced to sell.

You even updated all the fixtures and appliances.

So what’s the problem? Why is your house not selling?

These are the types of questions homeowners ask themselves every day while trying to sell their homes.

On average, a house is on the market for 65 days. If you’re past this mark it could be just a bad market or poor timing but it also could mean that something fundamentally wrong with either your home or how you’re going about selling it.

In this article, we’re breaking down the top X shocking reasons your home isn’t selling and what you can do to fix it.

It’s time to tap into your inner interior decorator; we’re getting started.

House Not Selling? Here are 7 Reasons Why

When it comes to selling your home it all comes down to three main things: price, location, and condition. If you think you’ve got all the bases covered but are not seeing any offer, it could be one of these reasons you may have overlooked when listing your house.

1. You’re Using Lackluster Photos

Photos are everything when selling your home so take them seriously and make them look as professional as possible.

You must prove that your house is amazing through photos and descriptions alone. Pictures have the impossible task of convincing people to get off their couch and attend a showing at your home.

We all know that a photo is worth a thousand words. Pictures triumph descriptions any day of the week. Potential buyers want to picture themselves living in the house so the more pictures, the better.

Take images from every angle and don’t forget the aerial shot. Properties with overview pics via a drone or even google maps sell 68% quicker than homes advertised with the boring, standard images.

Set yourself apart from other buyers with an aerial view or even a 360-degree video of the home and property.

2. Inside is Clutter Overload

When taking photos and prepping for a showing, it’s important you remove clutter around the house. Staging is essential when selling a home. It all goes back to showing the potential for another person living in your home.

Remove personal effects such as artwork on the fridge, family photos, and laundry before an open house. Clean out your garage and finish your basement to create the vision of free space they can make into their own.

It’s even a good idea to remove bulky furniture, exercise equipment, and any unnecessary items that will make the house and its features look smaller. Some realtors even suggest cleaning out your cabinets and pantry. This can be frustrating for sellers but it’s an important part of showing off your home.

3. It’s Dark Inside

When taking pictures and even preparing for showings, make sure that you’re showing off your home with ample light, whether that’s from the windows or lamps.

Buyers are always looking for natural light sources but even if you don’t have access to adequate light the right accent lighting can change a room.

4. It Has Poor Curb Appeal

Poor curb appeal can deter a buyer before they even enter your home. Even small things like weeding, raking, shoveling, and taking down old Christmas lights are huge when it comes to showing your home.

If they can’t see past your front lawn, they likely won’t even make it inside the home.

Take pride in the exterior of your house. This can include cleaning your windows, replacing the mulch, painting the front door, replacing the shutters, mowing your lawn, and repaving the walkway.

5. You Have an Old Roof

Buyers will often be game to redo a kitchen, remodel a bathroom, and even a basement but something no one wants to do is replace an old roof. An old roof is scary to buyers and if they’re on the fence between two homes, they’ll pick the one with a newer roof every time.

Want a killer selling point? Install a new roof and flaunt it for all it’s worth–and trust us, it’s worth a lot. Don’t forget to size your roof before getting an estimate to avoid financial surprises.

6. You Have a Pet Problem

For people who aren’t “pet people,” a home with dogs or cats can be non-negotiable. It can be hard for them to look past the animal hair, spots, and smells. Even excessive barking during a showing can turn off a potential bidder.

Yes, we know the carpets can be easily vacuumed and replaced but some buyers won’t see the potential. Be sure to get a professional carpet cleaner to remove all signs and smells of your pets prior to your showings. Don’t forget the furniture and the steps too.

7. You’re All About You

A good rule of thumb in selling tour home is to never turn down a showing. We know life is hectic but every open house and showing can lead to a potential offer.

All too often we encounter sellers that have strict showing hours, refuse last minute showings, don’t prepare for them at all, or even cancel showings because it’s inconvenient for them. Make sure when the reason your house isn’t selling isn’t because of you.

If you’ve gone through all of these tips and tricks and are still having trouble selling your home you still have options.

It’s always a good idea to check out a “we buy any house company”; you may end up with a great deal. They’re the perfect option for houses that aren’t selling or people who need to sell their homes fast.

Find Your Dream Home

Hopefully, these reasons reduce the stress of your house not selling. A few small tweaks and you’ll find a buyer in no time.

If you’re selling your current house, you’re most likely looking for a new place to settle down in. It’s time to look for your dream property and that’s where we come in.

At Sky Five Properties we excel in closing on your luxury home or condo. Head to our website and browse the various options and find the property you’ve been dreaming of.

There are several options available for you to grow your wealth. Investing in property has remained a solid way to do this. When you think of property investments, you might think about flipping or renting out houses.

However, you’re leaving something on the table if you don’t consider one of the most valuable types of property investing — commercial real estate.

Investing in commercial real estate can help you in ways you never imagined. Consider these four tips to get to know why commercial real estate investing is golden.

1. Investing in Commercial Real Estate Helps You Add Value to Your Portfolio

When you are looking to build your portfolio, investing in commercial real estate is a great way to go about it.

Your portfolio says a lot about you and can be the difference between retirement and having to work well into old age. Commercial real estate continues to appreciate, so you will always want it to serve as a cornerstone for any portfolio you are building.

2. They’re Versatile and Flexible Right Now

The benefit of commercial real estate is that it is more flexible than residential real estate.

A piece of land that once housed a grocery store might evolve into a mixed-use property featuring coffee shops, apartments and a grocery. Businesses come and go, so having a valuable piece of real estate in a prime location means that your property will always be in demand.

It’s vital that you know your real estate and what needs come with the territory. For instance, buying a mall might require solid handrails, while a commercial warehouse space may need column protectors and other fixtures.

3. It Offers a Valuable Stream of Income Each Month

Having different streams of income is the key to wealth. In fact, millionaires tend to have seven different streams of income.

This is money that can help you through economic downturns and beefs up your monthly and annual revenue. Whether you get sick or need time off, you’ll still be getting paid each month off the strength of your commercial real estate.

4. There is Less Risk

Since commercial real estate often involves more than one tenant in one property, you aren’t beholden to as much risk. It helps to hedge your bets and allows you to enjoy more income than you otherwise would.

Rounding out your portfolio with commercial real estate property brings balance to your investments and ensures that you aren’t putting all your eggs into one basket.

Look Into Commercial Real Estate Investing

Investing in commercial real estate is an excellent way to build your portfolio. These tips lay out exactly why this is worth your time.

The work that you put into landing some commercial real estate investments will pay off in the long run. Use these four sound strategies to guide you accordingly.

Touch base with us when you want to learn more about investing in commercial land, buildings or other property.

Everyone has their thing. Making money or choosing to invest is a difficult game. You have to make sure that you’re choosing the options that work out for you. And what might seem like a great investment to you, may not work out for another.

Because we all have different budgets and approaches to making money.Y et, if there’s one game that can work for a range of people, it’s property. Now, it’s safe to say that investing in property can be tough. It’s really not something that you should get into for a quick buck.

But, you can make money if you approach things in the right way. Whether you want to start by selling your house or you want to invest in a second property, let’s take a look at how you can get started.

Know How To Make Money

So first of all, you actually need to know how you’re going to be able to make money with property. Because unless you’re knowledgeable, you might think that you’re making money, but you’ll actually not be making all that much. So learn how to make money on your investments and what options you have to ensure there’s a good enough return on a project, before you put money into it.

Decide On A Budget

When you’ve worked out what you’re going to do, you then need to have a rough idea of how it will work. So decide on your initial budget and calculate how you’re going to make this work.

Choose Your First Move

Then, you just need to dive on in. So, ask yourself, what will it be? Do you want to save up to then invest the money in property? Or do you want to sell and look at where this company buys houses, along with others, to get your money to invest that way? Or maybe you want to start a portfolio by slowing buying more properties with mortgages? Make sure you know what move works for you, and start.

Be Profit Motivated

However, you do need to keep your eye on the prize. Do not let yourself get too caught up in it creating a gorgeous property unless it’s going to make you money. Focus on the profit, and you will find that this pays off for you.

Be In It For The Long Term

Now, if you know that you really want to make money from property, see it as a long term gain. Here, you’re going to want to buy property at a low price, and then wait until the market improves.

But you also need to ensure that you are aware of the fees that you’re paying for any mortgages you have too. Because you need the property to outweigh the total cost you are actually paying for it.

However, fi you’re buying in an up and coming neighborhood that is set to drastically increase in value over the course of ten or twenty years, this can really work for you.

If you and your family are thinking about moving home soon, then it’s crucial to carefully consider every step of the process because it can be quite an exhausting and long-winded experience. These are the important considerations for anyone who’s ready to move houses.

Buying and selling properties

The biggest aspect of moving house is selling one house and buying another. When it comes to buying your new home, you might be limited to a certain location based on your job role or school options for your children.

Still, you should do your research to make sure you’ve considered all potential options for properties. You might want to seek help from Make Homes to find a stylish new build at an affordable price. It’s important not to compromise on the quality of your new household if even if you’re limited by the restraints of a budget.

As for selling your existing home, your goal should be to increase its value as much as possible to make a larger profit from a potential buyer. Maybe you could start to clear out your home ready for the house move; this is practical, but it’ll make the space feel bigger, and that’s appealing to buyers. Simply repainting the walls could make a huge difference too.

The removal company

Getting professional help on moving day is important. Moving houses is a huge task. You’re not just packing enough belongings for a 2-week vacation; you’re packing up everything you own. Plus, you’ll be moving more sensitive and fragile goods than you would bring with you on vacation, so it’s important that your possessions are transported safely and securely.

Hiring an experienced removal company will ensure that everything you own is protected during the move. Of course, you should also make sure you declutter to reduce the number of things you bring with you. This is partly about starting fresh in a new home without excessive belongings, but it’s also about reducing your quote with the removal company. They charge based on the number of things they have to transport.

The necessities at your new home

Once you’ve bought a new property and arranged the sale of your old one, you should instantly start thinking about your new life in your new home. Whether you’re moving miles away or simply to the next town over, moving to a new house is a huge step.

You’re not just moving your belongings somewhere new; you’re moving your entire life somewhere new. You might have a new job sorted out for yourself, and a new school sorted out for your kids, but you need to think of all the logistics involved with this move.

You need to do your research with regards to local facilities and amenities. You need to learn about the neighborhood. You also need to get a conveyancing solicitor and sort out the mortgage for the house itself.

So many of these things need to be sorted out weeks or even months before you move. Make sure you also set up an internet connection with a new provider at least two weeks before you move into your new house. It always takes some time to get these things set up, and you don’t want to be left without a WiFi connection for the first couple of weeks in your new home.

Sorting out the necessities at your new home before you move in will help to ensure that the moving day goes as smoothly as possible. You want to be able to relax into your new household as easily as possible.

Are you considering opening a hotel?

Starting a hotel from the ground up takes a considerable amount of effort. But, if you’re willing to do what it takes, then you can reap significant rewards.

The hotel industry has experienced almost a decade of strong growth. And, according to Deloitte’s 2019 US Travel and Hospitality Outlook Report, it’s expected to maintain momentum in the year ahead. Also, according to researchers, the immediate future of the industry is on track for continued growth and profitability.

So, if you’re interested in breaking into the hotel business, the time is ripe. Read on to find out the steps you’ll need to take to open a hotel!

What You Need to Know About Opening a Hotel

There’s a lot to consider when opening a hotel. It’s not a decision that you should take lightly. Although, many of the hotels that have opened in recent years are now thriving.

The income potential for hotel investors is huge. But, to get the best results from your efforts, you’ll need the right ingredients. And, you’ll need to know the precise steps you should take in order to gain success.

What Does It Take to Open a Hotel?

Prior to beginning your venture into the hotel industry, there are a few things you’ll need.

First, you should have a plan. A sustainable plan will need to include (at least) the following information:

• The type of hotel you would like to start
• How many rooms there will be
• How many guests the hotel will accommodate
• The location or anticipated location of your hotel
• An architectural blueprint of the hotel itself
• Capital resources (money!)
• A thorough strategy for funding, building and operating the hotel

Of course, there’s more that goes into developing a plan for a hotel, but these are the bare ingredients that your plan needs to have.

You’ll need to include details such as whether it will be a franchise, bed & breakfast, luxury resort, or another kind of hotel. And, you’ll need to decide how it will be staffed, whether there will be on-site dining, room service, and other details.

When deciding on a commercial property, you’ll need to perform research to find out where a hotel is likely to thrive. And, you’ll have to choose whether to build or use a structure that already exists. In addition, you’ll need to check on the zoning and business license requirements for your preferred locale.

Funding Your Hotel

Eight out of ten businesses fail. And the number one reason that businesses crash is that they run out of cash.

One of the biggest considerations when opening a hotel is the capital needed to fund it.

Funding a hotel isn’t cheap, after all.

You’ll need to employ professionals every step of the way, even during the planning phase. For example, you’ll need an architect to draw up the building plans. You might also need an accountant, a website developer, and other types of service providers.

Once you open the hotel, you’ll need enough money to maintain its operation until it begins to turn enough profit to sustain itself.

Depending on the size of the operation, you could possibly take out a loan to partially fund your hotel.

Often, there are investors that provide financial backing needed to start a hotel. If this is the case in your circumstances, you will need to identify potential investors. Then, you will have to present your plan to those individuals to secure a commitment from them.

You will need to do the same to receive funding from lenders. Be sure that you gather adequate information from lending sources prior to making any decisions. There is a wide range of terms and solutions available, and it’s essential that you choose the right one for your venture.

Beyond Planning

Beyond the planning phase, there is a long list of things that you will need to do to prepare for the opening day.

You’ll need to build or renovate your hotel. You’ll also need to furnish and decorate its’ interior.

You’ll also need to hire and train your hotel staff. You should also prepare a salary and benefits schedule. And, you’ll need to decide on a uniform policy for your employees as well.

Then, you’ll have to launch a marketing campaign, create a website, and purchase and install any necessary software systems (for reservations, billing, etc).

Finally, after completing these steps, you’ll be ready to open your hotel to the public.

Opening Day

You’ll want to make sure that you plan for the opening day, as well. You will want it to be extra special.

You might offer added attractions or activities on this day to attract a crowd. This might include a ribbon cutting, giveaways, food or promotional items. You may even announce your opening to the local media outlets.

Start Your Venture Today!

If you’re serious about opening a hotel, there’s no better time than the present to get started building your dream. Even if you haven’t figured out all of the details just yet, you may find that once you start, the rest of the plan will fall into place.

Opening a hotel can be a challenge. But when you take the right steps and put forth the effort, you’ll find that all of your hard work will be worth it in the long run.

Why not get started on your dream today?

Contact us now to find the perfect place to start your own hotel!

In the United States, about 40 to 50 percent of all marriages end in divorce.

If you’re going through a divorce, the emotional pain can be unbearable and the future might look bleak and uncertain. On top of this, you’ve to negotiate with your soon-to-be ex-spouse and agree on a range of issues, from alimony to child custody and property division.

In this article, our focus on property division. Keep reading for more information on preparing for a divorce sale of your home.

Marital Property Division Laws in Your State

Property division laws vary from state to state, but they generally fall under either of these categories:

• Equitable distribution
• Community property.

In an equitable distribution state, property acquired during the course of a marriage is split fairly and equitably – not equally. Although there is no specific formula for calculating equity, the court will consider your monetary and non-monetary contribution towards the purchase of the property among other factors.

In a community property state, you and your spouse have joint and equal ownership of all assets acquired during the marriage. In a divorce, the property is split equally.

As such, the first step to selling a house during divorce is to understand how property division laws in your state will affect your share of the proceeds. This knowledge can help you to better prepare a stronger case.

For instance, if you live in an equitable distributions property state, you’ll start gathering all the information you need to convince the court that you deserve the amount you’re seeking.

The Consequences of Selling the Home

Obviously, the fact that you’re looking to sell your matrimonial home means neither of you wants to keep it. Or even if you’d love to keep it, you’re not able to buy out your partner.

Before selling the home, it’s important to know the associated consequences/costs and establish how they will affect your interests.

For example, if you and your partner purchased the property through a mortgage, the proceeds from the sale will first go into paying off the mortgage. The same goes for any other debt secured against the property.

You might also spend money on home inspection, appraisal, and staging. And depending on the nature of the sale, you could have a capital gains tax bill to clear.

Cumulatively, these costs can really take a substantial bite from your gains or drive you into a loss.

It’s advisable to take some time to evaluate whether selling the home makes economic sense for both of you. Sure, it’s understandable that you might want to split up quickly and move on. However, money is equally important, and it’s vital to sell the home at the best possible price.

Try to reach out to your partner and see if you can agree on how to get the best value for the property. Perhaps you might want to do some repairs and repaint the walls to make the home more attractive to buyers.

Finding a Real Estate Agent

When you’re going through a divorce, the last thing you want is to deal with strangers.

This is why you and your spouse might need to hire a real estate agent to take care of the sale, even though such a move will add to your selling costs.

The challenge most divorcing couples face when using this option is agreeing on a real estate agent. This mostly happens when both parties have different interests. Maybe you want the sale to happen quickly at whatever cost, while your spouse has no rush.

Either way, sooner or later you’ll need to settle on an agent.

To make things easier, you could each elect a close friend or relative and task them with finding a real estate agent for you. Or if you have divorce lawyers, they can help you find a mutually agreeable agent.

Another option is to work with the same agent who helped you buy the house – if they’re still in business. Since you already have an existing professional relationship, it shouldn’t be too difficult to trust them with your differing interests. They can even help you iron out your differences as far as selling the home is concerned.

Selling to a Cash Home Buyer

If you cannot agree on a real estate agent or need to sell in a hurry, find a cash home buyer.

A cash buyer will snap up your home as is. You won’t have to worry about making any repairs or a potential deal falling through because the buyer cannot secure financing. This post by Ashley Buys Houses gives a lowdown on how selling your house for cash works during a divorce.

Bear in mind selling to a cash buyer has its downsides. For instance, you will certainly get lowballed.

Dividing Your Cash

Once the home is sold, it’s time to divide the cash. But how the division works will depend on your specific circumstances.

If you’ve already agreed on how to share the proceeds, the division is pretty straightforward. You pay off the debts and share the net gains according to your agreement.

However, if the sale is court-supervised, the money will grow to an escrow company, which will settle your debts and other costs on your behalf and then divide what remains as per the court’s directions.

Divorce Sale: Put the Past Behind You

Although couples get married hoping to enjoy a lifetime together, sometimes – almost often, in fact – things just don’t work out.

If your worst fears have comes to pass and you’re now going through a divorce, selling your home is a way to put the past behind and also get money to help you move on.

With these divorce sale tips, you’re in a good position to prepare your home for the market and sell it without any troubles.

All the best and feel free to explore our blog for more property tips and insights.