Equity loans are hot right now. Home equity loans are fueled by a shortage of existing homes on the market and cheap mortgage money. In 2018, equity in homes climbed across the nation with loans getting cheaper and more competitive. The National Association of Realtors states that existing-home prices rose 8.8 percent from the fourth quarter of 2003 to the fourth quarter of 2004.
According to the California Department of Corporations, “A growing number of consumers are betting that home values will continue to appreciate as they take on mortgages that sharply lower their monthly payments but require them to shoulder far more risk.”It is this risk that makes one pause when considering such a loan. This is true particularly in California where the interest only loans have blossomed over the past couple of years. Interest-only mortgages have surged as prices spike and mortgage rates plunge. The loans, which once were aimed at a small pool of affluent borrowers, have gone mainstream.
At Washington Mutual Inc., the nation’s largest residential lender, such mortgages have accounted for roughly $1 billion a month since being introduced last summer. As mortgage rates fell to the lowest levels in decades, the loans were the most requested of all categories, said Gregory Sayegh, a senior vice president in the Irvine office. “We’ve seen a dramatic shift over the past 30 days,” he said.
This type of mortgage, designed for buyers who intend to live in their homes for less than the length of the loan, allows borrowers to make lower payments than a traditional mortgage because none of the monthly payment goes toward the principal. Interest rates generally are up to 1 percentage point lower than fixed-rate mortgages, and the full payment is tax-deductible.
Typically, payments on a 30-year interest-only mortgage at 5.5% on a $500,000 home would be set at $2,292 a month, compared with a fixed loan at $2,839. That represents a monthly savings of $547. After five years, when repayment of the interest-only mortgage typically converts to an adjustable rate for the last 25 years of the loan, the borrower could have saved about $33,000, which might be used to pay for a child’s education or to invest in other ways.
In a traditional mortgage, part of each payment is applied to the principal of the loan. Using the same example, a borrower after five years would have accumulated about $38,000 in equity, which also could be tapped for other uses through another loan.
“The question the consumer has to ask is: Am I further ahead [with an interest-only loan] rather than having the money sit in equity?” said Brad Blackwell, a senior vice president at Wells Fargo & Co. No group tracks the use of the loans. But Blackwell said interest-only loans, though they make up only about 5% of overall volume at Wells Fargo, are rapidly gaining in popularity.
“What’s driving demand is that people are saying, ‘I don’t know if I’ll be in the house for three to seven years. Why pay a higher rate of interest to lock in a rate for 30 years when I know my circumstance will be changing?’ ” said Craig Cole, a senior vice president at Union Bank of California, where use of interest-only loans also has soared.
But the loans could leave borrowers worse off if home values should stop rising or decline. At the end of the interest-only period, generally five to 10 years, consumers could be left owing more than the home is worth. Even if prices keep appreciating, analysts said, borrowers may need to refinance to more-favorable terms when the loan’s interest rate becomes adjustable.
Interest-only loans, which have been around for about a decade, generally appeal to wealthy buyers who need large loans to purchase expensive homes. Those borrowers usually know they plan to move into another home or to refinance before the loan is repaid. The loans now are pitched to a broader audience as a way to buy more house for the money and to offset rising prices.
“No one is talking about the risks,” said Keith Gumbinger, an analyst at HSH Inc., a New Jersey firm that tracks the mortgage market. “Markets do turn around and turn around uncomfortably, and not paying equity on a home means a borrower will still owe a lot of money down the road.”
But many borrowers have found an interest-only loan too good to pass up. A similar product based on the concept also is gaining considerable steam as a method to purchase homes. Borrowers pay only interest on a line of credit for 10 years that can be used like a checkbook to pay off the home or to make other purchases.
For borrowers who are diligent and live within their means, interest only loans may make sense in some cases. For others, though, the risks far outweigh the benefits and these people who do well to check into other loan options.
Home renovations entail a change of touch to the ambience of your home. They are not your everyday kind of routine, and therefore, you need to get the best out of it. Renovations are not like cleaning your house as you will need to plan accordingly and get a new touch to your dream house. People renovate houses for different reasons whether it was bought or they were staying in it and now need some changes. Home renovations allow you to incorporate ideas and decor collected from different designs so that your house is just as you dream it to be. While renovating your home, you shouldn’t rush at it but involve some experts in the field. A DIY will undoubtedly be less costly, but you may not get the desired results. Hiring a home renovation team allows you to get your expectations not only meet but exceeded and value for your money. It may seem expensive to you, but the outcome will be worth it.
As you renovate your home, it’s advisable to adhere to the following tips:
Start with a plan
Great achievements are only achieved by planning. Before you renovate your home, it would be wise of you if you did plan some months. Planning allows you to get the finances to meet the expenses because indeed, it may be expensive. Your budget should be allocated based on what changes you need to the house. You should, therefore, inspect and analyze what changes you need and get an expert in home decor and renovations to assist you in getting the estimates. It will allow you to have a rough estimate of the budgetary allocations for what will be bought and the people you will hire for the job. Planning should start as soon as the decision is made to renovate and it would be wise if you had the floor plans so that can have measurements done right. Do not rush the planning process so that once the job gets started, you will have a smooth flow of activities.
Your budgeting will now need you to finance it. As you look for home renovation finance, always choose the most comfortable available option that will not strain you. Since you had been planning, saving could have been an option you had considered to cater for the expenses. If not, look at various lending options. Home equity finance is one of the most common and readily available options for you. A home equity finance allows an appraisal estimate on your properties value to get the loan. You will, however, use your house as collateral and therefore paying back as soon as you can be a priority. Borrow just enough to cater for the renovations and not other expenses you have so that you do not end up in massive debt.
Search for a renovation team
After you have planned accordingly and got the finances, you need to look for the best renovation company at your disposal. The first place you can look is in your local region so that you may save on the cost of hiring one who may be too far away. You may search for one online or through referrals and choose one who fits your budget. However, as you do so, you shouldn’t only get cheap one but look at the quality you will get from them. Cheap may be expensive some times, and since you need value for your money, competency and professionalism should be a consideration for you. You may go through their previous work portfolio, asses equipment and materials used and also check on reviews by clients who got serviced by them. If you are choosing one based on referrals, do not expect that since they satisfied your friend’s expectations, it will be the same for you. Your preferences and theirs may be different, and therefore you will need to be careful about your selection.
Get a package
Compare the options that you have now on the renovation companies at your dispose of and carefully analyze them. Choose one with a blend of affordability and quality. Quality should be based on your judgement of satisfaction from your customer’s experiences so that you do not end up regretting the changes done to your home. The package that you should choose should be all-inclusive. Making changes to your home interior designs and leaving the outside spaces. Let the package cater for all the expenses both on you inside and outside renovation so that your whole house has a new fill. While picking the materials of use, choose durable quality materials. It will allow you to forget about another renovation soon and thus saving you money in the long run. Your package should be that which also suits your preference on design in terms of either contemporary, antique or a blend of both.
Start the job and get the best
Since you have now a package that suits your needs, all you need is to get the job started. If you had been occupying the premises, you need to get the house prepared. This will entail getting all wall hanging removed, covering your furniture and surfaces. While the contractors are at work, supervise the job closely by assisting and telling them what your expectations are. The renovation should, however, not be rushed so that you get the best and all spaces unattended. It would be advisable if you choose sunny days for your improvements so that surfaces that are getting painted and furnished dry naturally. Once the job is done, let the contractors do the cleaning for you as part of after-sale services and now admire the excellent work done on your indoor decor and outside spaces.
With warmer weather on the way, homeowners with backyards will no doubt be spending much more time outdoors. But does your yard lack the privacy you desire? Whether your yard gets too much sun or too many curious looks from the neighbors, you may be looking for ways to make your space more intimate. Here are some clever ways to create privacy in your backyard without breaking the bank.
Grow a bamboo fence
Nothing says “Zen” quite like bamboo. If you want to create a tropical retreat in your backyard, then bamboo could be a great choice. You can use it to create a green fence that blocks a view. Or use it to fill in gaps in your landscaping. Be aware that bamboo can be invasive. Be sure to choose a variety of bamboo that is compatible to your environment and can be contained easily. Opt to plant it in pots or purchase clumping, slower-growing varieties.
Use large planters
One of the easiest ways to create privacy in your backyard is with planters. Buy extra-large sized containers and fill them with tall plants. Great plant choices include tall decorative grasses, dwarf trees, and tall shrubs like arborvitae. Place the planters on wheeled discs, which will allow you to move the plants around to create the privacy you desire. Just don’t forget to water them.
Hang outdoor curtains
Don’t have a green thumb? Don’t worry – you can still create privacy without using a single living plant. Instead, use curtains around decks, patios, or other seating areas to create a cozy area for dining or hanging out. If you don’t have a place to hang curtains, that’s no problem, either. Drive wooden posts into the ground and fasten rods to them to hang your curtains.
Install a lattice fence
If you’re in a DIY mood, then consider installing a lattice fence to create privacy in your backyard. All you need for this project is a few wooden posts and sheets of wooden lattice to attach to the posts. You can stain or paint a lattice fence so that it blends well with the style of your home. You can also use plants to trellis on the lattice fence to create even more privacy. Some excellent choices include vining plants like morning glory or clematis, perennial vines like bougainvillea or passionflower, or even climbing roses. Not only will this provide a beautiful partition, but it will also help to reduce noise from neighbors or from the street.
Buy an outdoor screen
Finally, you can create privacy on a budget in your back yard with a simple click. Buy an outdoor privacy screen to create a secluded space. You can even purchase a portable screen that will allow you to create privacy in any area of your yard. Privacy screens can be made out of wood, fabric, or metal to match the style of your home. If you’re feeling creative, you can make your own privacy screen. Try using old doors hinged together, or create a frame with PVC pipe and use it stretch fabric.
Midtown Modern is among the most known condo k located projects in Bugis is home to the most popular shopping habitats among locals and office swarms. These shopping venues offer a completely personalized experience for shoppers, as shopping communities enjoy a wide range of stores that help various shoppers. We have multiple differentiated services offered at shopping malls near Midtown Modern Location, such as the most fashionable fashion shops and human services. Primarily, shopping habitats come together with the experience of complete malls, restaurants, medical facilities, and essential products. Everything you are looking for can be found in these shopping communities, making it the perfect place to relax with your friends over the weekend. One of the famous shopping places near Midtown Modern at 3ugis Junction.
The shopping venue near to Midtown Modern Condo has been here since the early Bugis periods, and the decision is being played out with friends and colleagues as there is a wide range of convenient shopping stores under development. From staples like cold storage to grocery stores like Food Junction and Crystal Jade, fill out bugis Junction as a place to get your family together. There are also plenty of candy and bistro shops located at Bugis Junction for your friends to talk fast too near to Midtown Modern Condo. 3ugis Junction is, on the other side, a unique shopping place where the surface has glass, letting shop in a cold environment with the ability to see the light of day. There are plenty of pushcarts in 3ugis Junction as well, making it a unique shopping experience.
Midtown Modern Guocoland Located Near to Entertainment and Restaurants at Bugis
Midtown Modern is a useful place to stay because it’s close to many amenities like entertainment, restaurants, shopping, and many more. The comfort of these 3ugis facilities is unparalleled, as Midtown Modern is just a few minutes’ walks or drive from these outlets that can be used for business. Midtown Modern is next to the most popular shopping spots in Bugis, which are 8ugisJunction and Bugis, which prevail among swarms of workplaces as well as shoppers on weekends.
The Tan Quee Lan is the Midtown Modern Street that is close to many small restaurants and dinners around the Bugis area. It is known to include many family-friendly restaurants located throughout a studio study that brings a sense of relaxation as burgers take advantage of your dinner in an increasingly disjointed setting and provide an optional dining experience. These nutritional decisions are about Bugis, and your family can have dinner instead of cooking at home in case you don’t want to do it this way.
Midtown Modern Bugis is at the same time adjacent to the Business District with unparalleled convenience for those people working at Marina Bay, Raffles Place, and City Call. The whole development and project are continuously joined to these sections from Singapore by an open car, such as transportation along with the Bugis MRT station. The entire thing implies that Midtown Modern will be an essential research site after the rental location, as ex-pats and office workers will be looking to rent this exceptional lot next to the 3ugis MRT station.
Midtown Modern is another development located in the heart of Guocoland’s Bugis Tan Quee Lan Street. Precision represents the engineer’s confidence in acceptable parcels, and Midtown Modern is located directly at the MRT station. With its site, Midtown Modern represents an open place for entering Guocoland to design its brand development in an ideal location. Martin Modern is near to amenities and will be a significant development throughout the Bugis city center.
Midtown Modern Tan Quee Lan Street at District 07 Right on Top of Bugis MRT Station
Midtown Modern is very popular after private development, right in the heart of downtown Bugis. The project is close to several nearby transportation alternatives and is legally linked to the Bugis metro station. District 07 is the second-best area in the region. It represents a global place where many princes congregate after their work, and it is a vital location located in the center of the city center. Midtown Modern is of interest to homeowners who want to stay in the middle of the downtown area but give a historical touch to nearby amenities. Remember that for development near schools to be one or more factors always; one is looking for growth to claim.
Bugis Street shopping markets near to Midtown Modern are one of the biggest and least expensive markets in the city of Singapore. Bugis road showcase in Singapore is where everybody returns and takes heaps of shopping packs alongside a cheerful and substance favor their countenances. You will get various things here right from garments, shoes, frill, keepsakes, gadgets, knickknacks, etc. There are upwards of 800 slows down here which offer the most recent in style and all reasonably valued as well. Among the numerous mainstream things, Bugis road garments merit an extraordinary notice as you can get a couple of pants for an insignificant INR 520! The beginning reach for T-shirts is INR 250 and the extras are accessible for as low as INR 110. The road markets have as of late experienced a makeover and now secured with a rambling rooftop so you can shop relentless whether it rains or sparkles.
Alongside the road shopping slows down, the spot presently likewise has two urban shopping centers near to Midtown Modern Condo:
• Bugis+: It’s a swanky new shopping center with 10 stories and all the main design, extras and nourishment brands. The spot is effectively open and is legitimately associated with Bugis intersection with a connection connect.
• Bugis Junction: Located right over the Bugis MRT station, this shopping center houses driving worldwide chain of stores and just as little handcar slows down selling intriguing keepsakes and knickknacks. It offers the city’s first sky lit shopping experience.
Bugis road advertise near Midtown Modern location in Singapore is an asylum for nourishment darlings and offers a variety of various cooking styles which are delectable, and simultaneously, esteem for cash. The choices are perpetual with Thai, Chinese, Vietnamese, Indonesian and other Asian enjoyments. The crepes, hotcakes, chicken cleaves, noodle soup, Hakka yam cake, Kaya balls are a portion of these mouth-watering indulgences. An absolute necessity attempt following a long and tiring day of shopping is Thai Ice Milk tea and Thai Ice Lemon Grass which will give you the much-required refreshment near to Midtown Modern Condo. Bugis road nourishment slows down make certain to give you an incredible gastronomical encounter which will be one of the features of your outing to this occurrence place. Bugis Street eateries have an alternate vibe by and large, so come here to encounter this.
Midtown Modern Close to Bugis+ Shopping Centres and Bugis Junction
This is a Buddhist sanctuary close Bugis road at Midtown Modern location in Singapore which goes back to 1884 and is worked in the run of the mill Chinese style of engineering. One of the most visited sanctuaries in the city, it is accepted that the desires of the admirers are satisfied in the wake of imploring at this spot. The principle god is Cundi Bodhisattva meaning the God of Mercy. Consistently upon the arrival of Chinese New Year, the sanctuary is open for the entire night and a long line of individuals can be seen who come here to implore and begin the year on a propitious note.
Haji path is a limited road near to Midtown Modern Guocoland which is settled in an edge of Bugis road and is a shrouded jewel. The area is with the end goal that you can without much of a stretch miss entering this cool spot. A brilliant road which is lined on the two sides by boutiques, bistros, bars and diners and best of all, every one of them are brightened with painted paintings in different tones. You will locate the best of cafés offering some nearby and inventive delectables. The shops are completely loaded up with one of a kind blessing things, adornments and the most popular trend dressing alongside shoes, packs, and handbags. This spot will simply fill your heart with charm with its cool and hip vibe and is a treat for the irritated eyes.
“Recorded on the Singapore Exchange Securities Trading Limited since 1978, GuocoLand Limited (“”GuocoLand””) is a chief territorial property organization with activities in the land markets of Singapore, China, Malaysia and Vietnam. In 2017, GuocoLand denoted its extension past Asia into the new markets of the United Kingdom and Australia through a vital association with Eco World Development Group Berhad in Eco World International Berhad.
Headquartered in Singapore, the chief business exercises of GuocoLand and its backups (“”the Group””) are property improvement, property venture, inn tasks and property the board, and it is centered around accomplishing adaptability, supportability and development in its center markets including the latest project at Midtown Modern condo. The Group’s portfolio involves private, cordiality, business, retail and incorporated improvements traversing over the district. As at 30 June 2019, the Group’s absolute resources added up to around $10.0 billion.
In Singapore, the Group has effectively evolved 36 private undertakings yielding roughly 11,000 lofts and homes. GuocoLand’s leader incorporated blended use advancement Guoco Tower, coordinates premium Grade A workplaces, a unique way of life and F&B retail space, sumptuous lofts at Wallich Residence, the 5-star business inn Sofitel Singapore City Center and an arranged urban park. It has likewise built up a sizeable arrangement of properties spreading over the significant urban communities of Beijing, Shanghai, Nanjing and Tianjin. The Group’s 68% possessed backup, GuocoLand (Malaysia) Berhad (which is recorded on Bursa Malaysia), is a built up property engineer of network driven private townships and creative business and coordinated advancement extends in Malaysia.
GuocoLand has been respected with various honors and awards both locally and globally, in acknowledgment of its arrangement of value, imaginative advancements and responsibility to business greatness near to Midtown Modern Information. These incorporate natural supportability grants, for example, the Building and Construction Authority (BCA) Green Mark Awards and Leadership in Energy and Environmental Design (LEED) Pre-Certification, just as land grants regarding the best property organizations, for example, the International Property Awards, FIABCI Property Awards, BCI Asia Awards and South East Asia Property Awards.
Hong Leong Group, (“”HLG””), established in 1963, is probably the biggest combination in South East Asia. Its tasks length the globe with center organizations in an assorted scope of ventures – banking and money related administrations, assembling and dispersion, property advancement and speculations, cordiality and relaxation, and head venture. With respectable recorded organizations on significant stock trades far and wide and with more than 45,000 workforce, HLG’s span has gone past the shores of its command post into worldwide extents for real estate projects such as Midtown Modern.
Guoco Group Limited (“”GGL””) is an organization recorded on the Main Board of The Stock Exchange of Hong Kong Limited and is an individual from the Hong Leong Group. GGL is a venture holding organization with activities and speculations covering Asia and Europe. GGL (counting its backups and related organizations) is basically engaged with head venture exercises, property improvement and speculation, friendliness and recreation activities and monetary administrations. GGL, headquartered in Hong Kong, principally works in Hong Kong, China, Singapore, Malaysia and the United Kingdom. GGL has a workforce of more than 25,000 around the world.
GuocoLand Limited is a piece of Guoco Group Limited, possessed by the Hong Leong Group. It is an open organization recorded on the Singapore Exchange and with their latest project at Midtown Modern, it is an honor winning designer whose advancements are recognized by quality, creative plans and ideas. A significant engineer headquartered in Singapore, GuocoLand and its backups have built up property tasks in their land markets of Singapore, China, Malaysia and Vietnam. In 2017, GuocoLand denoted its extension past Asia into the new markets of the United Kingdom and Australia through a key association with Eco World Development Group Berhad in Eco World International Berhad.
Other than Singapore, the Group has been dynamic in the land division in China since 1994 with interests in Beijing, Shanghai, Nanjing and Tianjin. From 2004, the Group additionally entered the land division in Malaysia through its obtaining of a significant stake in GuocoLand (Malaysia) Berhad, a significant Malaysian property bunch recorded on the Bursa Malaysia Securities Berhad. In September 2006, GuocoLand likewise put resources into Ho Chi Minh City, Vietnam, with the honor of an Investment License to assemble a completely coordinated advancement on a 17.5-hectare site in Binh Duong Province. It is 17km north of Ho Chi Minh City.
In April 2017, GuocoLand denoted a critical achievement in its extension past Asia, going into the new markets of the United Kingdom and Australia through a vital association with Eco World Development Group Berhad in Eco World International Berhad. This gave GuocoLand prompt presentation to four advancement extends under development in London and Sydney with considerably brought down venture dangers.