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Search for Portland Condo NewsPortland has special regulations
Every area has its own building regulations. You need to know how these restrictions will affect the design of your Portland home. Issues to consider include zoning, setbacks, rights of way and easements. Most subdivisions have CC&Rs (Covenants, Codes and Restrictions). Studies of Portland demonstrate that these carefully to make sure they are not too restrictive for your needs or create excessive building costs.
Qualifying the Buyer for your Portland Property
Either you or your agent will want to weed out potential buyers who cannot afford to purchase your Portland home. Items to investigate include the buyer’s debt and credit history, current income and employment, the availability of cash for a down payment, the time the buyer needs before closing on the home and the buyer’s level of interest in your home as compared to other properties.
Portland Fixed or Adjustable?
The fixed rate mortgages offer Portland real estate buyers peace of mind with predictable monthly payments. Taxes may go up but the principle and interest will remain fixed throughout the life of the loan. When interest rates were rising rapidly in the late 1970s, lenders came up with ARMs or Adjustable Rate Mortgages. With an ARM, the borrower assumes the risk of rising interest rates. Both have their advantages and disadvantages.
Portland Home Improvement
Homeowners hear a lot about improvements that might add value to houses. But less attention is paid to what to avoid. Steer clear of renovations that will cost you money at resale time.
If an Portland home becomes conspicuously larger -- and more expensive -- than those around it will risk becoming hard to sell. Additions tend not to return their entire investment. The 2005 "Cost vs. Value Report" found that homeowners were able to recoup only 83% of the cost of a family-room addition and 82% of a midrange master suite.
Portland Home Improvement
In a recent study, a midrange bathroom renovation paid off with an average 102% return on investment and an upscale bathroom renovation recouped 93% of its cost. A midrange kitchen renovation recouped 91% of its cost on average, and an upscale kitchen recouped 85%. A minor kitchen-remodeling job returned 99% of its cost. There are numbers that apply to Portland.
Proper maintenance and annual upkeep of your Portland home may be the most important improvements of all. Clean the gutters to protect the exterior from water damage. Trim shrubs. Check for termites. Keep track of annual checkups -- and use that as a selling point. Annual maintenance pays back handsomely when you sell. And before the house goes up for sale, experts recommend a fresh coat of paint.
Buying a Portland Fixer-Upper
Some Portland investors concentrate on buying fixer-uppers, making repairs and upgrades then selling for a profit. Going with a Portland fixer-upper can also be a smart way for those who are handy to buy a home in a neighborhood that they might otherwise be unaffordable. Fixer-uppers are a wonderful opportunity for those who simply love to create their space to their own specifications but for whatever reason do not want to start with a vacant lot.
Best to know the extent of the job and whether or not you are up to it before you buy. Some Portland fixer-uppers simply need cosmetic work such as paint, wallpaper, carpeting and maybe kitchen appliances are fairly easy to estimate the costs for fixing. Portland homes that need minor structural repairs such as roofing are also fairly easy to cost estimate.
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