What are the most popular new home floorplan features? - Part I

Written by Mark Mathis

Continued from page 1

Generally speaking, a “flex-space” is exactly as its name implies. A flexible-space which can be used for a purpose most needed byrepparttar individual / family living inrepparttar 145189 house atrepparttar 145190 current time. The room’s function might change over time, due torepparttar 145191 family’s current needs, but typical uses include an children’s playroom, home study, extra storage, and/or an extra bathroom.

Conversely, a “bonus room” is usually created (by designer’s intent) due to an inherent feature ofrepparttar 145192 particular design style. For example, a house with a traditional style might utilize a relatively high-pitched gable overrepparttar 145193 garage area of repparttar 145194 home. The “unused” space created byrepparttar 145195 gable andrepparttar 145196 relative location ofrepparttar 145197 “bonus space” inrepparttar 145198 overall floorplan, can create a usable space that, if appropriately accessible via stairs inrepparttar 145199 floorplan layout, can create a extremely useful livable space, which would ordinarily have been included as part ofrepparttar 145200 attic.

This type of space represents a extremely good value in a price per square foot regard, as its relatively inexpensive to additionally build sincerepparttar 145201 core structure of repparttar 145202 space has already been built (the floor viarepparttar 145203 roof ofrepparttar 145204 garage, andrepparttar 145205 ceiling viarepparttar 145206 vaulted interior roof ofrepparttar 145207 house).


Be sure to read Part II of this article at:



Mark Mathis is a building designer and publisher of several stock house plan websites and informational resources including www.HousePlanCentral.com. Be sure to subscribe to the site's eNewsletter to receive special offers, promotions, and subscriber-only features.

Things To Consider Before Buying A Condo Hotel Or Resort Residence

Written by Leon Altman

Continued from page 1

It is important to note that due torepparttar unknowns involved in marketing and renting vacation properties, you should not count on rental income to coverrepparttar 144623 costs of ownership. Instead, experts recommend that you view this income as a bonus, if and when it is paid to you. The main consideration should be finding a property that you enjoy and will use.

-How is rental income distributed?

Gain a clear understanding ofrepparttar 144624 percentage of rental income that will come to you, as well as any fees or charges that will come out first, such as furniture and decorating charges, and savings accounts for replacement of items. Some properties offer a better ratio than others.

Availability and Usage

-How often can you userepparttar 144625 property? How long can you stay? How do you reserve time and how far in advance do you need to notify someone? These will be important questions for condo hotel and fractional owners. But even in a hotel residence, you may need to call ahead to let someone know you are coming. Otherwise, your place may not be cleaned and stocked with supplies.

-What if you want to cancel your time or reschedule? How far in advance do you need to let someone know? Is there a penalty? Can your friends and family use your allotted time if you’re not able to?

For condo hotel and fractionals owners,repparttar 144626 guidelines that dictate what happens when you can’t be atrepparttar 144627 property are as important as those for when you are usingrepparttar 144628 unit. Be sure there is plenty of flexibility so that you can easily make adjustments and getrepparttar 144629 most out of your property without being penalized unnecessarily.

-Are there other properties inrepparttar 144630 same management group that you can use? Some properties are managed by companies that have other properties available for you to use as an alternative. This can be an ideal feature, especially if you like to travel or want to share your available property time with family and friends.

Amenities and Services

-What amenities and services are available for residents and what do they cost?

It is important to have a full understanding ofrepparttar 144631 services and amenities offered andrepparttar 144632 charge, if any. Some properties seem less expensive at first, but if you find that you will have to pay for things such as laundry, maid service, and furniture, appliance and decorating upgrades,repparttar 144633 price doesn’t seem so great anymore.

Be sure you knowrepparttar 144634 actual price it will cost you to getrepparttar 144635 unit withrepparttar 144636 furnishing you want andrepparttar 144637 services you use on a regular basis. These expenses are all part ofrepparttar 144638 overall cost of a property.

If You No Longer Wantrepparttar 144639 Property

-What if you change your mind aboutrepparttar 144640 purchase?

In response to high pressure sell tactics of some standard timeshare properties,repparttar 144641 State of Florida enacted a rescission law that allows you to change your mind about your purchase within a certain timeframe. If purchasing a new property, you have 15 days to change your mind and receive your deposit back. On a resale unit,repparttar 144642 timeframe is 3 days.

-Can I sell or transfer ownership of my property, and if so, are there restrictions or penalties?

There may come a time when you want to sell your property or give it to your children. It is important to knowrepparttar 144643 rules about this before you purchase. Some properties may say that you can only transfer ownership to family members. Others may require you to listrepparttar 144644 unit throughrepparttar 144645 management company. You may also be required to ownrepparttar 144646 property for a certain amount of time before you can sell. It is important to ask these questions before purchasing.

-What isrepparttar 144647 resale value ofrepparttar 144648 property?

In general,repparttar 144649 types of ownership we have described have good resale value and are typically much better than that of standard timeshares. Ofrepparttar 144650 three, fractionals arerepparttar 144651 most questionable when it comes to resale, butrepparttar 144652 risk can be greatly minimized if you pick an exclusive property with a well-known management company.

The resale value of your particular property will depend on several factors, includingrepparttar 144653 reputation ofrepparttar 144654 management company,repparttar 144655 number of other similar properties available in your area,repparttar 144656 condition ofrepparttar 144657 property atrepparttar 144658 time of sale,repparttar 144659 overall real estate market, andrepparttar 144660 popularity of your location. Some of these things can’t be predicted, but if you do your research it will help you to select a property with high resale value.

This list of questions covers many ofrepparttar 144661 different aspects and issues associated with these innovative forms of resort property ownership. There likely will be other questions you want to ask as you become involved inrepparttar 144662 process. It is a good idea to enlistrepparttar 144663 services of a reputable real estate attorney or agent who is familiar withrepparttar 144664 specifics of condo hotels, fractionals, and hotel residence purchases. It may cost you a bit more, but could end up saving you thousands inrepparttar 144665 end and can provide you withrepparttar 144666 peace of mind and freedom to enjoyrepparttar 144667 experience and to feel satisfied withrepparttar 144668 process andrepparttar 144669 terms ofrepparttar 144670 final purchase.

Leon Altman is the founder of the InvestingIN Real Estate Letter - http://www.InvestingIN.com/realestate/LtrSignup3.htm - and its parent website, http://www.InvestingIN.com ; http://www.InvestingIN.com/realestate/resorts/resort4u.htm

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