Lockdowns cause surge on home improvement spending in Ireland

The coronavirus pandemic created many unforseen circumstances in people’s daily lives. Perhaps the biggest among these was the effects of the lockdown. People had to stay in their homes for much longer than they normally would, and many people were stuck working at home. It is no surprise, then, that a record number of home improvement projects have been carried out over the last year and a half.

Research by Aviva Insurance Ireland shows that 1.5 million homeowners have carried out work on their homes over the past year, with the total cost of these projects coming in at more than €11 billion. In addition to these numbers, another 861,000 people have plans to undertake home improvement projects, the survey says. The survey captured almost every type of home improvement imaginable, from minor fixes like painting a room or replacing windows, to large projects like building extensions onto homes or adding a home office, the latter of which was definitely popular as the country and the world transitioned to a remote work environment.

Aviva Insurance added that this surge in …

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How to get the lowest rate on your mortgage

When applying for a mortgage, you will notice that rates vary greatly. These rates determine on a number of things, including the length of your mortgage term, the size of your deposit, your credit score, and which lender you choose. With so many different mortgage lenders available to choose from, this can be a daunting process, especially for first time buyers. Securing the lowest rate is incredibly important, as it will make your monthly payments smaller, thus saving you money over the whole lifetime of the loan. Here are a few things to focus on during your application process to ensure you get the lowest rate possible.

Shop Around

You wouldn’t buy a car without driving a few first, or a mattress without laying down on more than one, right? In a similar way, if you want the best mortgage rate, you should shop around with different lenders. This process should entail researching different lenders and the products they have to offer, as every lender has different loan types, terms, and interest rates. You also should apply for more than …

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Looking to renovate your home? Here’s how to pay for it

Since the onset of the coronavirus pandemic, we have all been spending a lot more time at home. This newfound time in your house may have inspired you to make some changes around the house, such as a basement remodel or turning that spare room into a home office for your remote work. Renovating your home can be a major project, and there are a variety of ways to pay for it. Whether you are doing something as simple as a kitchen or bathroom remodel, or something major like changing your home’s appearance or adding an extension, these projects can become quite expensive. There are many ways to pay for these projects, such as cash, a credit card, or a loan.

The best and cheapest way to pay for anything, especially renovations, is cold, hard, cash. If you don’t have enough savings to complete your project, and can afford to wait until you do, there’s no better time to start than now. Start improving your bank balance by setting aside a certain amount of money each time you get paid. …

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AIB to close branches due to pandemic in controversial decision

The covid-19 pandemic and its related lockdowns have had a number of effects on the financial landscape both in Ireland and worldwide. One of the biggest effects has been the shift to contactless payments and online banking. This trend was only increased due to lockdowns, as the bank’s physical locations were closed, leading to more customers accessing their money online or through the bank’s app.

On Tuesday, Allied Irish Banks (AIB) said that it had conducted a “detailed strategic review” to examine the changes in how customers interact with banks. In the review, the bank stated that “Following the unrelenting shift in customer preference for digital banking over the last number of years, AIB is announcing the amalgamation of 15 branches in locations across the country by December this year”. The vast majority of these 15 branches being closed are in urban and suburban locations in Dublin and Cork. Accounts in the closing branches will be moved to neighboring branches, and these closures will leave AIB with 170 remaining physical branches. About 100 AIB employees will be affected by this …

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How do mortgages work?

If you’re looking to buy a home, you’ve probably already realized that this is not like most transactions. The average house price in Dublin is €396,000, and unless you’re very wealthy, you probably don’t have anywhere that much in savings. Because you likely can’t afford an expense of this magnitude out of your own pocket, you will need to finance the purchase through a mortgage, and if you’re new to the home-buying process, you may be a little confused as to how exactly these loans work.

A mortgage is a huge loan secured against the value of your house. A “secured” loan means that the borrower promises collateral to the lender in the event that they are unable to make payments, and in this case, the collateral is your home. In other words, the bank will kick you out and take possession of your house if you can’t make payments. In order to prevent this from happening, the lender will typically conduct a detailed review of the borrower’s finances in order to determine how much they can reasonably afford to …

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Buying a home vs. Renting: Which is better?

Buying your home is one of the biggest financial decisions of your life. However, it is a big commitment and there are a lot of hidden costs and factors that can make it unaffordable for some. Because of the costliness of buying a home outright, many buyers turn to renting instead, especially in expensive housing markets like London, New York, and Hong Kong. Determining which option is best for you depends on a variety of factors, and not everyone’s situation is alike. To help with this important decision, let’s take a look at some of the key differences between buying and renting.

Buying

When buying a house, it’s likely you’ll need to apply for a mortgage. To get a mortgage, you need a deposit (usually at least 10% of the home’s value) and a steady income in order to make repayments. The greater your deposit and income, the more your bank or lender will be able to offer you. However, if you live in an expensive area, or have a low salary and little savings, buying may not be for …

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Myths about Mortgage that you Should be Aware of

 

Many people often consider mortgages as a complex and difficult matter. There are also some myths that people share. These myths leave most people worried about how the mortgage will affect them. After application, some people are mostly stressed by the repayment process. This perception and the reluctance to talk about them indicate that some people could be missing out on the benefits of mortgages. 

When it comes to your finances, knowledge is very important. Therefore, if you are thinking about getting a mortgage in the future, or have one at the moment, never fear to ask questions and always do research. These are three mortgage myths that you need to be aware of. 

A mortgage payment holiday or break will cost you nothing A payment holiday is when the financial institution suspends the payments of your mortgage for a given time. The payment and the interest are then moved to the mortgage’s balance. For most people, this means that at the end of the break, the payments they make on a monthly basis will increase. Therefore, always ensure …

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Things to consider when Installing a Security Surveillance Camera

 

The security camera is one of the most beneficial technological innovations for homes, motels, and restaurants. With the rise in crime and other anti-social elements in the city, these cameras can be handy. For instance, with this tech, a homeowner can keep an eye on their home environment no matter where they are. Keeping your family and assets safe in the comfort of your own home has been made easier thanks to recent advances in camera and mobile technology.

Having security cameras on your property is vital because it helps you catch the criminal with video evidence of a crime on your property and shows you where the building’s safety system is vulnerable so you can make the necessary changes. Security camera CCTV systems are available in various integration capabilities, imaging resolutions, and use cases. Some of these cameras are used indoor security, while others use outdoor surveillance, with features such as inclines, 360 degrees, and zooming. Moreover, a thorough understanding of the indoor and outdoor home security camera setup aids in ensuring peace of mind. Here are various …

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Commercial Real Estate Investment

 

Introduction

Any property can be a good investment. In this sense, commercial real estate is a property used solely to conduct business or generate income through renting or selling. This diverse group of properties includes a single store, warehouse, offices, shopping malls, hotels, apartments, vacant land, and warehouses.

Given the current population and economic growth trends in Ireland, many people are interested in buying and investing in commercial property. Moreover, emerging market cities are becoming increasingly concentrated among Ireland’s largest urban agglomerations, resulting in increased demand for commercial real estate.

 One thing to note is that before anyone decides to invest in the commercial market, it is vital to have a detailed understanding of the industry and all of its components. Moreover, the need for well-informed investment decisions is critical. When calculating appropriate returns and risks associated with a target asset and evaluating the potential contribution to property pricing of new market trends, commercial properties are the best way to invest.

Reasons to choose commercial real estate as a way of investing

Commercial real estate provides a plethora of …

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4 Ways to Invest In Apartment Buildings

 

It is obvious that investing in real estate is one of the best ways you can earn passive income and achieve financial freedom. However, making a decision to invest in apartment buildings needs you to consider various factors. Just like other types of real estate investment, there are various ways to get funding so that you can get started. The funding source depends on your level of investment, the amount of money you have, and the amount of time you want to spend. These are 4 best ways to invest in apartment buildings. 

Buy it yourself

This is the best way to do it. Despite the fact that this requires a lot of knowledge, capital, and time, it is the most rewarding method of investing in apartment buildings. As an investor, you will have the chance to make your own decisions and develop a good plan on how you need the investment to generate revenue. It is important to note that this method is best fit for those people who are ready to face psychological and financial demands required …

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