by Lilly Miller | Feb 7, 2020 | CRESTICO
Technological, social, and economic challenges of the future will change the way people live, work, and shop. These changes can significantly impact today’s climate, not just in residential, but in the commercial real estate sector as well and its portion of the value chain. The ultimate question is who will profit and who will lose money in the future world of commercial Real Estate.
What can we expect?
The present evolution of technologies towards digitization and automation will cause massive changes within the industry. The job profiles that exist today will change, along with the clients’ demands on how the job is executed. There will be an increase of redundant low-skilled, blue-collar workers while, white-collar jobs will be more driven by data, performed remotely, which will impact the need for office spaces, as well as functional office design and furnishings. These developments promise to reshape the commercial real estate environment.
The future is mobile
With autonomous cars just around the corner, we can expect major changes to the ways cities are built and developed. Property managers will have to evaluate how they use space. The decreased need for parking spaces both on and off the street will free up large areas for development. In some cities, landlords are converting parking space into commercial real estate, taking advantage of the premium location and street-level access. The new space requirements will include re-configured parking solutions for driverless cars and warehouses for automated loading machines.
Tenant health and wellness
As global environmental concerns are gaining momentum, people are more concerned about the impact of commercial spaces on their health and wellness. A global 2016 survey by Deloitte that targeted the Millennial population showed that young professionals consider employee well-being as one of the most important qualities of a workplace. To meet these demands, companies are considering how to improve the health and well-being of their commercial tenants and residents. The overall prediction is that commercial properties that don’t meet the needs of modern tenants won’t see modern tenants. The survey analysis recommends that real estate companies should include tenants in decision-making, so they can better understand design elements that cater to health and wellness.
Rise of smart energy products
With the UN predictions that the world population will reach 9.7 billion in 2050, over 66% will live and work in cities. As a consequence, commercial places will have to become increasingly urbanized with unprecedented integration of smart technologies, drones, autonomous vehicles, and automated services. The modern urban architecture will rely heavily on smart energy products like industrial lighting solutions shown here, as well as on data and technology to make life more comfortable. As a result, the cost of both commercial and residential real estate is expected to rise in those districts.
3D printing
We won’t have to wait long before builders are able to print entire floors with immense time savings. In China and Dubai, there are already low-rise commercial properties being developed with 3D printing, and the builders are reporting construction time reduced by 70% and cost by 80%. With its huge implications for construction, 3D printing is both a threat to traditional warehousing, as less space will be required, but also an opportunity for retailers to respond on-demand.
Event-driven shopping
The rapid increase of online shopping will further reduce demand for retail real estate assets, with more demand for just-in-time logistics. Amazon is already experimenting with drone delivery service, claiming it’s much safer and faster than going through couriers or postal service. This way, logistics centers could be located at the periphery, freeing more space in the city center. Upper-end high street miles will still exist, primarily through the leisure PR function, but smaller retail businesses in decentralized regions will suffer the heaviest blow. To meet the demands of new customers and build interest, shopping malls will need to resort to more event-driven concepts that emphasize on experience rather than shopping.
Fading relevance of real estate brokers
As individual market players in the real estate arena, real estate brokers will become increasingly redundant due to market transparency policies and automated rental negotiations between owners and lessees. Real estate transactions will be based on technologies like blockchain, which eliminates the need for the middle-man. On the other hand, the government won’t miss an opportunity to benefit from new developments through new tax models, such as a tax for automation. Part of this income will be much needed for mitigating social problems due to increased unemployment, which is a result of automated processes. Although the future banks will certainly take advantage of the high degree of debt financing for real estate projects, crowdfunding platforms will take their share as strong competitors to traditional banking.
The word ‘smart’ has changed slightly in meaning over the last decade, as new technologies granted us even more features that help us manage our lives. The increasing automation of running the business will bring profound changes in the commercial real estate sector, that go far beyond smart buildings and shared workspaces.
by Lilly Miller | Oct 9, 2019 | CRESTICO
If you think that only affluent individuals invest in Real Estate, you cannot be farther from the truth. The prospects of potentially hefty earnings attract people of different financial statuses and all walks of life and the best part is – they are all welcome.
Anyone can join the real estate business since there are different ways to join the game and not just how you think big real estate companies operate. To help you find the most suitable method, here are a few simple ways to achieve success in the real estate arena.
Go with a rent-to-own agreement
Rent-to-own is an interesting manner of acquiring a property you like at a more convenient moment. You rent a place and sign an agreement that after a predetermined period of time you will purchase that property. As agreed, a percentage of those monthly installments become a down payment on a mortgage. This is especially suitable for those who need time to improve their credit score so they can use that predetermined period to do that. Other benefits include that you agree on the price at that point so any subsequent rise in the price of real estate properties will not affect your agreement, as well as having the opportunity to get to know the neighborhood and both bad and good sides of the house before you purchase it.
Purchase a vacation rental
Many people dream of owning a property on the seaside so they can rest there during the summer. And even more dream about renting the said vacation property and earning from it. The idea is simple: you purchase a property at a tourist-infected location and rent it. However, you might want a vacation rental at some luxurious destination but that can be costly. So, when choosing the location, you need to account for the potential income in the future and how you would advertise the place. For instance, you might choose a trusted online platform such as Airbnb. You can create a profile, post property pictures and communicate with tourists via this platform and you also need to take into account the service fee which is deducted each time a booking is completed.
Transform a charming fixer-upper and sell it
Perhaps the most traditional real estate investment is purchasing a property under market value, fixing it up and selling it at a higher price, and this process is called flipping houses. However, for somebody who hasn’t got much experience, it can be quite tricky to assess which of the properties is worth investing in since the cost of fixing it might surpass its value. In this case, you might want to consult with an experienced real estate consulting firm because they can help you to make the optimal choice based on customized reports as well as offer legal advice during the purchase procedure. This step by step service might also include performing a detailed property inspection and provide you with various interior design ideas so that your fixer-upper can reach a good price.
Consider real estate investment trusts
To invest in Real Estate Investment Trusts (REITs), you don’t need to purchase a property. REITs are companies that invest the majority of the money into real estate and their profit depends on it. You buy shares at a REIT which means you are not in charge of collecting rent or emergency repairs – you don’t need to have any contact with the tenants whatsoever. As a shareholder, you need to know that the income comes in the form of dividends. This type of investment offers more opportunity for portfolio diversification because any major repair of one of the properties you rent out can be detrimental to your budget. If you find this strategy interesting, you should look into thriving REITs and purchase shares with them.
Test your resourcefulness with wholesaling
This type of real estate investment doesn’t involve that you invest anything or purchase a property which makes it appealing to many. Wholesaling a house means that you are contracting a seller that has an undervalued house on the market and then quickly selling it at a higher price than they asked for it. Your profit comes from the difference in the prices. However, wholesaling demands a lot of patience and different skills because it is neither easy to find sellers who are eager to sell a distressed property nor is it easy to find an interested party quickly. Although it is not for everybody, the end profit can be quite lucrative.
And now that you know that there are many types of real estate investment, it is time to opt for one that suits you and sail on the tides of real estate success!
by Lilly Miller | Sep 12, 2019 | CRESTICO
Many homeowners and even Real Estate agents looking to flip a property tend to focus solely on the interior design of a house or apartment. While there is absolutely nothing wrong with sprucing up your interior and decorating it for comfort and beauty, it’s important to remember that the value of your property and its overall aesthetic appeal will be largely influenced by its curb appeal and highly useful house extensions like garden storage sheds.
Whether you’re trying to restore your property to its former shining glory or if you’re trying to upgrade it to maximize its value in the real estate market, the curb appeal will have a leading role to play. With that in mind, here are the four excellent ways you can improve the curb appeal to breathe new life into your home.
Start some ways away from the house
Curb appeal is not just about the quality of the paint job on the porch, or how beautiful your front garden is – it’s also about those distant elements you never even think about. You see, curb appeal starts some ways away from your property, at the furthest point from which people can see your house. This is usually, you guessed it, the curb at the far end of the street. This is where you need to start.
Inspect this area closely and look for any unsightly elements that might be hindering the aesthetic appeal of your property. Move the trashcans somewhere else, and look for any irregularities in the pavement such as potholes. Now work your way slowly towards the house and fix everything that needs fixing before you move on to the property itself.
Invest in some beautiful landscaping
Landscaping is one of the best and most effective ways to elevate the aesthetic appeal of your home’s exterior, and an excellent way to increase its market value at that. However, it’s not just about maintaining a tidy lawn or removing wild shrubbery on occasion; no, landscaping encompasses the calculated use of natural elements to frame the design of the entire property.
Some of the best low-maintenance design ideas for your garden and landscape, in general, include high-rise plants, trees, artificial grass, water features and ornaments, beautiful rockery, stepping stones, and more. All of these elements should work together to frame the design and lead the visitor on a beautiful path towards the porch and the house itself.
Join the LED revolution
The way you light your home’s exterior can make or break the entire aesthetic design of the property. But beyond pure aesthetics, outdoor lighting needs to be functional, as these features need to last a long time. This is why the LED industry has grown so much in the US in recent years, and across the globe as well. In Australia, for example, electricians specialize in outdoor lighting that boosts curb appeal aesthetics and functionality.
Down Under, homeowners spend a lot of time under the stars, on the front porch or enjoying quality time with their family on the front lawn in the evening, hence the need for an experienced electrician from Inner West to design the external lighting scheme using LED lights to illuminate the entire property and at the same time accentuate key features. Follow the same mindset and invest in LED lights yourself, and don’t forget to illuminate everything from the walkway to the front porch and all other outdoor areas on your property.
Rejuvenate the exterior with new paint
And finally, there’s nothing quite as refreshing and rewarding as the look of a fresh coat of paint adorning the exterior of your home. Repainting the walls and other features such as the front porch and the fence can help you elevate the value of the property in an affordable way, but most importantly, make the property feel more inviting and homier as well.
Depending on the size of the house and the scope of work in general, it shouldn’t take you more than a weekend to repaint the walls, the window frames, the porch, and fence. While you’re at it, be sure to upgrade all of the hardware and don’t forget to replace any corroded wood you might find – it will prolong the lifespan of the element and elevate the aesthetics in the process.
Final thoughts
The curb appeal is the crucial factor that will either deter or invite homebuyers to check out a property. What’s more, the curb appeal of your home has the power to influence your mindset and shape your perception significantly, making you feel positive as you’re approaching the front door. Be sure to tend to these quick-and-easy tips, and you will have created a beautiful curb appeal that will make your home that much more valuable.
by David Glenn | Mar 23, 2018 | CRESTICO
Cleaning your home doesn’t have to be hard. There are some natural, effective ways to clean your home. If you want to drastically improve your health, your family’s health and your pets’ health, you need to implement some changes within your home, but they’re a lot easier than you think. With just three changes, you will be feeling much better.
Indoor Air Quality
The home’s air quality is often worse than the air quality outside the home. This is primarily caused by the lack of ventilation in the home. Allergens and other substances become trapped in the home, and they build up. The home needs proper air flow to evacuate allergens and other pollutants. That said, it’s good to open up the windows and doors every once in a while. Using a fan within the bathroom and other parts of the home helps to lift out air along with allergens from the home. If your home doesn’t have an attic fan, now would be a good time to invest in one. However, check with a contractor whether this is a smart solution for your particular roof style.
To avoid toxic fumes, it’s best to build a home with “green” materials. An open layout of the house helps to improve air flow. HVAC systems, ceiling fans and floor fans can also help to increase air flow within the home. Using these methods, along with opening windows, will help to expel poor air, allergens and mold. Mold growth significantly decreases using this method of air ventilation as well because it reduces humidity in the home, and it provides an exit point for mold spores.
Cleaning the home with natural products also reduces the amount of toxic fumes and chemicals within the home as well. Baking soda can be used to scrub the tub, remove burnt-on residue from pans, serve as a laundry booster and effectively deodorize many parts of the home. Distilled white vinegar helps to remove stains from laundry, kill germs, clean glass, and it helps to clean a variety of surfaces.
Professional Cleaning
Keeping the home clean helps to prevent illnesses and help boost the immune system. There are many places for dirt and dust to hide. Within dust, dust mites gather, and they leave their fecal matter behind. People are allergic to this, and they are allergic to other substances if they’re immune systems are not strong. Pets and people track in dust and debris, which get trapped in the carpet. Another issue in the home is mold. Mold spores cause numerous problems for people, and it tends to hide in porous surfaces, like grout. When people suffer from weak immune systems, they’re more susceptible to illnesses. This means that an endless supply of people walk around tired, thinking they need coffee or sugar to keep them going, when they really just need their homes deep-cleaned. Hiring a professional company for carpet cleaning, tile cleaning and duct cleaning can make a drastic difference in the home.
Sunlight
Sunlight has an amazing ability to kill microorganisms that could otherwise cause problems for the family. Some of the sun’s ultraviolet rays help to kill certain types of bacteria. Sunlight also prevents mold growth, so where you’re able to allow for sunlight to permeate your home, take advantage of it. Sunlight is also helpful in killing viruses. While you’re opening up windows, keep curtains and blinds drawn. Take advantage of the sun throughout the day. You’ll say on lighting costs as well. Certain health industries have started taking advantage of using ultraviolet light to effectively kill a host of germs as an extra step in sanitizing everything.
You can’t eradicate everything harmful from your home, but you can give your immune system a fighting chance by naturally cleaning your home. Implement the steps above, and take time to boost your immune system internally as well. Eat well, drink water, exercise and get full sleep cycles in to help your body stay healthy.
by David Glenn | Nov 24, 2017 | CRESTICO
Although most people relish the arrival of the holiday season, Real Estate activity tends to grow in sluggish around this happy time of year. Many prospective buyers simply have other priorities on their minds. You’ll want to make an extra effort to attract attention to the most appealing aspects of your property now:
One: De-Clutter And Simplify
When you offer your home for sale, encourage potential buyers to envision themselves residing there. Many sales experts recommend removing as much of your personal property from the premises as possible to encourage this mindset. Naturally, you treasure your belongings. Yet to casual visitors your grandfather’s worn old chair or your son’s favorite pair of gym sneakers scream “clutter”.
Consider stripping down your household furnishings to the bare minimum. If necessary, rent a storage unit as a temporary home for any unnecessary household possessions. By simplifying your interior design, you’ll inspire prospective buyers to see themselves filling your premises with their own prized possessions!
Two: Create Exterior Curb Appeal
During the holiday season, it remains especially important to dispel any sense of mid-winter gloom. You’ll want to ensure your home appears inviting from the curb. No one enjoys taking time to tour a residence situated in the midst of a cold, dormant terrain- especially during the convivial holiday season.
Fortunately, several strategies offer assistance. To “spruce up” your grounds (pun intended), place potted evergreens near the front door or along the entrance; they’ll display vibrant green throughout the year. You might also consider using colored mulch in the garden to add rich, decorative earth tones to the yard. Consider hanging a festive wreath on the front door. Most importantly, ensure your home’s exterior lights function correctly; by late afternoon, visitors sometimes require extra illumination at this time of year.
Three: Use Aroma Power
The ability to use powerful scents in your home also assists you during the holiday season. Studies show the sweet aroma of cinnamon rolls appeals to most people. Bake some in the oven before a showing to infuse your kitchen with an alluring scent.
Pine air fresheners may also prove welcome now. Remember, some visitors particularly notice pet odors. You may wish to obtain professional carpet cleaning to remove these lingering scents from upholstery.
Four: Promote Your Home Widely
The holiday season enables you to promote your home widely to your network of friends and neighbors. At social gatherings, mention you’ve placed your home for sale. Local people often know interested possible buyers.
It remains important not to monopolize holiday gatherings with your home marketing news. Yet you should share this information. Your friends may wish to help you by contributing their own friendly word-of-mouth advertising.
Five: Create a Festive Atmosphere at Your Open Houses
Make your residence appealing by creating a festive atmosphere during holiday open houses. Even if you don’t want to set up a fully decorated natural tree, you might consider locating small white artificial Christmas trees in several rooms to create a festive décor. (Just keep the decorations simple and uncluttered.)
Offering small candies or warm apple cider to your visitors confers a party-like atmosphere during open house tours. Make sure you ask everyone to sign a guest book. You can follow up with potential buyers later to see if they have considered purchasing your home.
Many Rewards
By continuing to promote the sale of your property during the holiday season, you may obtain a welcome outcome. Even if a closing does not occur until after the celebrations end, your efforts to sell your home won’t have occurred in vain. Selling real estate sometimes requires time and patience. Your prospects may discuss your property in depth during family gatherings and bring you an offer once most businesses resume their normal operations!
