Category Archives: Property

3 Awesome Beirut Neighborhoods to Live In – Best City Life, Great Restaurants, Beautiful Views

Beirut

Every major city has its desirable neighborhoods, Los Angeles has Malibu, London has Chelsea and New York has Soho.  The jewel of the Middle East is no exception, with seemingly something for everyone on offer!

Not only are there many factors leading to their desirability of a neighborhood everyone seems to have their own opinion of what they want. A few basic rules that can be followed are:

  • The closer it is to the main action of the city, the more sought after it becomes
  • The views on offer pushes up the value
  • Availability of shopping centres and entertainment venues.

So where are the best places to live in Beirut? If you are moving / or planning to move to Beirut here are a few neighborhoods that you might what to consider checking out.

 

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Posted in Property | Tagged | 30 Comments

Selling Land – How Do I Value It & What Buyers Are After

Selling Land - How Do I Value It & What Buyers Are AfterWhen assessing the land it is of the utmost importance to keep in mind that although there are numerous internet tools which you can use to value your property, it is always better to ask for an expert’s opinion because knowing the situation on the market and the delicacy of the assessment process is part of their job. However, it is good to be familiar with some basic principles of estimating the land value which both you and the assessor have to understand and use.

First, according to the principle of substitution an individual will pay for the land the same amount of money he would have to pay for an equally desirable substitute property. This approach assumes that the buyer will collect data, make adjustments, compare the prices and buy the property that meets his needs at the lowest price.

According to the principle of supply and demand the value of property will be higher if the demand increases. Since the supply of the land is unchangeable, when the demand goes up, the prices go up as well.

The principle of anticipation holds that the present value of the property depends on the anticipated benefit the owner will have in future.

The principle of conformity states that the price of the land is likely to be higher if it is used in a way that is compatible with the use of surrounding properties.

Good assessor will take all these principles into consideration, together with other components such as gas, electricity, water, sewer and other public utilities. He will also evaluate the possibility of using rights like mineral, grazing, fishing, hunting and others.

Of course, there are other factors that contribute to the value of the land. Above all, physical attributes of the land – fertility, location and climate – are of crucial importance to buyers in search for land. Different types of buyers are looking for different qualities in property – whether or not the land can be subdivided, is it far enough or close enough to their home, will the property fit into their lifestyle and so on. The type and amount of taxation, planning, building laws and other restrictions will certainly influence the price, as well as economic and social factors.

To value your land properly, you have to take into account all of these factors and methods. You have to check the sales prices of similar properties, to calculate the price of your property by square meter, and make reasonable and appropriate adjustments based on factors that contribute to the value. Combine this price with the income the property could generate and you’ll get the idea of how much your land is worth.

However, this is all subjective. The real price of the land is the sum the buyers are willing to pay for it. So, do your homework, make a research, calculate and consult real estate agents to arrive at a final opinion of value.  And hope for the best.

Posted in Property, Selling Tips | Tagged , , , , | 167 Comments

Hunting Land For Sale In Lebanon – Current Hotspots

Whether you are looking to buy or sale land, Lebanon is a promising country. In the last decade both Lebanon and its capital Beirut started regaining their fame as tourist and financial centers, and not without reason. It is one of the most fascinating countries – beautiful coastline, snowy mountains, thousands of years of history and well developed banking and financial sector, wine production and agriculture make Lebanon a place where money works for your investments.

If you are planning to buy a property in Lebanon, it is good to know some facts. Unlike many other countries which discourage foreigners from acquiring properties, Lebanon allows foreign ownership of the real estate but only if the amount of the land in possession doesn’t exceed 3,000 square meters. Otherwise, you’ll have to obtain a special permission from the Council of Ministers. And of course, foreigners can’t own more than 3 per cents of total land in this country, except in Beirut where that limit is 10 per cents.

When it comes to buying properties, apartments and villas are good investment. But, better than that is buying raw land. It is less risky because less money is involved; still it can turn great in the years to come if you know how to choose the right location. So, let’s see what current hotspots are when it comes to land for sale in Lebanon.

If you are dreaming of your own winery, than the fertile Bekaa Valley is a place for you. Lebanon has thousands of years long wine culture, and in the last few decades the wine industry is blooming again. Grape from more than 5000 acres of vineyards is being fermented in more than 30 wineries. The best of all is that Lebanese climate is perfect for wine production, especially for varieties such as Cabernet Sauvignon, Merlot, Cinsaut, and Grenache. It seems that this area will soon become a popular destination for wine tourists therefore now it’s great time to invest.

Another great location is to buy land in Keserwan District, or its capital Jounieh. This once small coastal city 16 km north of Beirut is the fastest growing and developing city in Lebanon. This city started to progress in the middle of the 20th century, but during the war Jounieh became as important as Beirut thanks to the massive migration of Beirut traders and bankers. Today Jounieh is tourist, financial, banking and commercial center with population of more than 200,000. It has great infrastructure, and tendency to merge with Beirut so every piece of land bought here can only increase its value with time.

Keserwan Mountains are a perfect choice if you are a nature lover who sees himself in eco-tourism and eco-agriculture. Other locations appropriate for this type of business are Mountain Lebanon and the Chouf Mountains. It takes 45 minutes by car to escape from Beirut’s humidity and pollution into the paradise of the Chouf Mountains. The nature here is untouched which is perfect for those who would like to try their luck in growing organic food.

However, if you prefer purchasing a few acres in Beirut you can’t go wrong, although you will probably overpay for the land. In urban areas it makes more sense to buy a property with a house on it, but with a good idea th eland purchase can turn into an excellent investment.

Posted in For Sale, Property | Tagged , , , , , | 23 Comments

10 Tips for Buying an Apartment

tips in buying an apartmentIf you’ve decided to buy an apartment, you’re probably aware that it will be one of the major investments of your life. Really, why throw your money away on rent when you can buy your own property for the same price? Still, having a roof over your head will make your life easier and stressless only if you buy a home you can afford and, of course, a home that will meet your needs. In this article you will find ten basic tips that will help you choose and buy a perfect apartment.

  1. Before you even start looking for the place to buy – think, calculate and think again. Have you got enough money for a decent deposit? How much can you borrow? How will monthly repayments affect your budget? There are many simple tools on the internet that can help you deal with these questions – online budget planners, mortgage and deposit calculators, and so on. Use them. As for the deposit size, you will probably have to pay between 15 and 25 per cent of the purchase price, so make sure you don’t bite off more than you can chew. And don’t forget about taxes, fees, removal van, repairs, and furniture. They also cost money.
  2. Decide what you are looking for – which area do you prefer, how many bedrooms do you need, do you want a garage, are shopping malls, schools, kindergartens in the vicinity important to you? When you’ve figured this out, you can focus your search on desired location.
  3. Check sales in the area, research the market and compare the prices. Be in touch with the local real estate agents because many flats sell before they appear in the ads.
  4. When you’ve found the property that suits you, go and see it. Note down all the important information about the apartment – when it was built, how long and why do the owners sell, were there any problems in the neighborhood or with neighbors, when were electrical and gas installations inspected, what’s included in the sale, and so on. And of course, ask your solicitor to do a research on the apartment.
  5. Take pictures of the apartment so that you could compare it with the others you take into consideration.
  6. Make sure to view at different parts of the day. It might look nice and calm during the day, but you wouldn’t like a bunch of junkies shooting stuff in their veins under your balcony.
  7. Check for the mold, wet corners, rust pipes and leaking radiators. Test if all the doors and windows are working well.
  8. Think how much to offer. You can get a lot of help on the internet forums of the property search websites for people there have tons of experience.
  9. Consider auctions. Apartments selling in the auctions can be much cheaper than the ones on the market. However, you will probably need to invest some money and time in renovation.
  10. If you are satisfied with the apartment and your offer is accepted, exchange the contracts with the vendors and book the moving van.
Posted in Home Tips, Property | Tagged , , | 243 Comments

How To Furnish Your Home or Office On a Budget

furnishing your homeFurnishing your home or office can be pretty expensive – new couch, office chairs, desks, carpets – you can end up flat broke. Fortunately, there are some tricks that can save you thousands of dollars. If you want to achieve the best value for money when it comes to refurbishing and decorating your premises, you don’t need much – just some time, a lot of creativity and relatively small amount of money. And here is how:

Before you buy anything, try asking around a little bit to find out whether your friends or their neighbors have some stuff they want to get rid of. Maybe you can use a couch or a table that is lying around your cousin’s house, change the fabric or repaint it for a fresh look. Furthermore, it is possible that you already have some pieces of furniture hiding unnoticed somewhere in your house or garage so you could use them and avoid spending additional money for furnishing your house or office.

Now that you’ve exhausted all possibilities of friends and relatives, it is time to get organized. Before you start spending any money, decide how much you can or want to spend and make a list of all the things you need. By doing this you will avoid buying items which are too expensive or unnecessary.

The next logical step is browsing the internet. There are numerous websites where people sell, or even give away used and unwanted things, especially furniture, home appliances, and clothes. The truth is that it may take you some time and nerves to find what you need, but you can shop at prices that are up to 80 percent lower than the market price. The other good idea is to buy wholesale or look for the liquidation sales. Stores that are going out of business sometimes sell items at only 20 or 30 percent of their retail value.  Also, look for the factory outlets where they sell products much cheaper than the shops due to the fact that there’s no middle-man.

The next thing you can do is to paint the walls. Paint is pretty inexpensive way to change the look of your house or an office and the best thing is that you can do it by yourself. If you’ve never done wall decoration before, the abundance of tutorials and step-by-step instructions you can find on the internet can be of great help.  There are also websites where you can ask professionals for a piece of advice or download home and interior design software for free.  This way you can visualize your ideas, experiment with colors, and remodel your home or office online before you start with the real work.

Also, pay attention to lights. Take full advantage of the natural light and get some cheap lamps that will enrich the space. Just keep in mind that you should avoid cold fluorescent and over-bright light because it can cause eye strain and fatigue.

In the end, add some details – cushions, nicely framed pictures, paintings prints, flowers or other plants which will make the space look warmer and give it a personal touch.

 

Posted in Home Tips, Property | Tagged , , , , | 568 Comments

Tips on How to Save Money as a Landlord

save money as a landlordHow to Save Money as a Landlord

Being a landlord is not all milk and honey, as somebody might think. Today’s financial climate is affecting everybody, even the landlords, and new laws like EPCs (Energy Performance Certificates) don’t help them, as well. If you don’t pay attention, soon the rents won’t cover the costs of owning a rental house. But, using a few tricks can help you save some money as a landlord.

  1. Shop around and get quotes for all the repairs that need to be done. Lazy landlords will take the first offer and throw away a lot of money. But, if you shop around for parts or labor, you can save significant amounts. Also, talk to your friends and relatives. It is very probable that some of them know or know someone who knows a jack of all trades, a handyman who can take care of the maintenance for less money than the one you will find in the regular way. And don’t forget – there are many things in the apartment that you can repair yourself like changing bulbs, the air conditioning filter, checking for leaks under the sinks, and so on.
  2. Don’t get too picky over your tenants.  Also, don’t insist on keeping a high price if that means that your property will stay vacant. The worst possible scenario for a landlord is to have a rental apartment empty since it means losing a month or two worth’s of rent. As long as your tenants pay the rent, keep the place tidy and don’t destroy walls and furniture, they are good tenants. If lowering the rent for 50 dollars means that you’ll find normal people to live there, consider it an excellent idea.
  3. Don’t use letting agents. Internet is an excellent place to find a tenant for free. There are numerous websites where you can advertise for free and thus avoid paying as much as 10 per cent of yearly rental income to an agent for finding you tenants.
  4. Use tenancy deposit schemes. Tenancy deposit schemes serve as a guarantee that the tenants will get their deposit money back once they leave your apartment and it is required by the law. Although there are some tenancy deposit schemes that require a service fee, there are a few where you can deposit tenancy money for free. Choose them to put your tenant’s deposit money and save yourself trouble of paying three times the amount if you fail to do so.
  5. Check the going rental rates. The real estate market is collapsing and not many people can risk buying an apartment these days. For that reason, the rents are rising and you have to be sure that you are renting at the going rate. Check the rental websites, the newspaper ads, and ask the local letting agents to make sure the price you’re asking is in the accordance with the market’s demand.
  6. Be fair to your tenants. Not many tenants are good, and even less are perfect, so if you find good tenants who are paying on time, respect your property in the way that they are not destroying furniture, try to keep them in the apartment for as long as possible. Be kind, do the necessary repairs on time and attend to your responsibilities as agreed.

Remember that you can find someone to rent out your room right here on bey3.com & it’s completely free to use so happy hunting!

Just go to bey3.com and click on the property link for the relevant county and then click the Post An Ad button. It’s that easy!

Thanks,

bey3.com Team

Posted in Property Rental Tips, Tips For Landlords | Tagged , , , | 332 Comments

How to Rent your Property Online Quickly

Renting Property OnlineDue to shortage of time, working people are more and more turning to the modern media when in search for the apartment to rent. Indeed, webpages and social networks don’t have working hours, so whatever time people finish the work, it’s still not too late for them to check out new rental ads. Internet became the main channel when it comes to property advertising; it speeded up the good’s traffic and improved the offer of rental apartments at the market. How to make your rental ad more attractive? How to rent the unit in shortest time possible and avoid repeating the ad for weeks or even months? Here are a few simple tips on how to present your property in its best light and find a great tenant within days.

1. Learn to listen to the market.
Check out the rates of the similar-sized apartments in the neighborhood and don’t overprice it. If you ask for more money than other landlords, the possibility is that your property will stay vacant for longer time. On the other hand, if you lower the apartment rent price for just a small sum of 25-50 dollars a month, you’ll beat the competition on the market and the chances are that your property will be rented in just a couple a days.

2. Pictures, pictures, pictures!
Every rental portal has the option for uploading photos of your apartment unit. Of course, it is better to upload bright and clear photos of a tidy place, but including any picture is better than none. Make a photo of every room from different angles and upload them to the website. This way you’ll save time explaining the prospective renters the technicalities and the structure of the rental unit and you will save their time as well since they will know what to expect.

3. Provide excellent details and information.
Include as many details as you can when writing the ad. You never know what information is important to a future tenant. The easiest way is to give a link to address in Google Maps. A typical student will be pleased if there’s a night club or a café in the vicinity, but families with small children will be thankful for a park in front of the building. The key feature to some people is the proximity of the kindergarten, school or faculty; some other would like to live near their working place or tourist attractions. Besides, include the details about the rent, deposit (if you ask one), whether the bills are included in the price, number and size of units, household appliances (fridge, stove, washing machine), parking, transport links, move-in date and, of course, your details – both the phone number and the email address, so the people can contact you the way that suits them best. And don’t forget to check your inbox and to charge your cell phone battery every day.

4. Don’t be too choosy.
Of course it’s OK if you don’t want a smoker or a pet in your apartment, but trying to control when the renters can have guests and who can stay
overnight will certainly reject the apartment seekers. You cannot rent a flat and expect the people not to cook or not to do the laundry in it. No matter how much you want it, it’s a bad idea to require a drug screening or flawless character from your tenants, as well as to conduct unannounced inspections of the apartment. If people wanted to live in prison, they would certainly find some other way to get there for free. This isn’t to say take the first person who comes along but rather don’t restrict yourself to much one who you choose.

Just some free tips on how to write a good ad to help you rent out your property online quickly. With Bey3.com you can rent out your property in 7 different countries in the MIddle East for Free.

Posted in Property Rental Tips | Tagged | 121 Comments