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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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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Residential Real Estate Investment

 

It’s never a wicked knowledge to invest in real estate. It provides potential investors with various financial and personal benefits, including home appreciation, increased cash flow, and tax benefits. But knowing the type of investment deal as a beginner or an experienced investor is vital. Long-term residential rentals are one of the most common ways to profit from real estate. The choice for residential property is not an overnight decision because it requires strategies with their own set of advantages and challenges. Investors’ principal motivations and aim for choosing residential real estate investment almost always revolve around the funds, risk tolerance, and time. 

It is vital to note that people require a place to live today, which necessitates involvement in the rental market. Residential property is only used for personal purposes, and examples include apartments, apartments, and duplexes. Moreover, rents collection is not the only revenue source derived from a residential property regarding residential investment. Auxiliary property investments and real estate appreciation are also reliable sources of income when investing in residential property

In my opinion, if a stakeholder …

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4 Important Renovations to Increase the Value of your Home

 

If you are thinking about renovating your house, you need to begin by asking yourself if the project will add value to the property or not. There are many different quick and easy renovations which may change your home into an attractive, modern, and functional space. Even better, when you later sell the property, the return on investment will be really high. These are 4 renovations that will make your home more functional and modern. 

Bathroom renovations

Without a doubt, the your bathroom is one of the most important spaces in the home. When the bathroom is new, it can give off a good feeling of cleanliness. When you begin the process of renovating the home, ensure that the design is clean and that it has modern lines. Additionally, be sure to have grey and white colors at the center stage. Apart from a spacious shower, remember to paint the tiles, improve lighting, and install new fixtures. 

Kitchen remodeling

Kitchen renovation is one that adds the most value to your home since it transforms the space to a more …

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How to Buy an Apartment Building in Ireland

 

It s often very hard to comprehend how best to invest in apartment buildings. However, a good understanding of the 4 steps below will see to it that the entire process becomes more easy and successful. 

Be sure that you owning an apartment building is the right thing for you

Regardless of whether you are a novice in real estate or have already built up a portfolio, the most crucial question to explore is whether owning an apartment building is the right thing for you. There are many things to consider and these include time and cost. The costs associated with an apartment building include ongoing cash flow matrix and of course, the initial capital requirement. An apartment building requires a lot more management and involvement, like addressing issue to do with management, leasing paperwork, and dealing with the turnover of tenants. Prior to owning an apartment building, ensure that your finances and schedule are set up to cope with the change. 

Try to figure out the type of apartment building you want to buy

Apartments come in all …

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How will Payments Change After the COVID-19 Pandemic?

The Covid-19 pandemics has taught many businesses, financial institutions, and companies that digital platforms and technology can be well utilized for cashless transactions. Restrict movement and lockdown in some cities have hindered customers flocking into the street to buy stuff or eat-in restaurant, prompting many businesses to opt for online and E-commerce platforms to stay afloat.

The pandemic has highlighted the importance of digital capacity, which has served as an additional catalyst in an already fast-changing payment industry. We are confident that this new reality will persist and only progress. Following the pandemic, some experts were asked to report any trends, and the following are some forms of payment that have come up due to the pandemic;

Buy Now, Pay Later (BNPL)

BNPL’s name is pretty self-explanatory. During the pandemic, it is widely regarded as the most developing payment option. Customers can purchase items through BNPL before paying for them. Although it has been a massive success in recent years, many people have criticized this payment method. This method of payment is unlikely to go away completely. However, as …

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6 Major Steps to ensure your Cryptocurrency is Secure

An increasing number of home buyers in Ireland are investing in cryptocurrencies as a means of getting into the lucrative property market. As you shift to digital currency, it is important to understand how to protect it since there is a lingering and never-ending threat to your cryptocurrency. There are 6 major steps that you need to take to ensure that your cryptocurrency is secure.

Use strong passwords

Of course, this is the easiest and the best way to protect your cryptocurrency. You need to ensure that your password is strong and unique so that malicious individuals can have a hard tine as they try to guess it. Additionally, you need to change the password regularly since it is a good practice to protect the currency. Moreover, it is important to use different passwords for each account since if one account is hacked, it will be highly impossible to hack the other.

Use cold wallets

The digital wallet used to store the cryptocurrency can either be a cold wallet or a hot wallet. A hot wallet is …

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The Dos and Don’ts for Mortgage Acquisition in Ireland

Many expatriates relocate to Ireland for employment, education, or retirement, with many more opting for a vacation residence in the country. Whether you choose to live in Dublin or a beach town, Ireland has a fantastic home for you. If you’re thinking of purchasing a home to live in, an investment property, or a holiday home in Ireland, you’ll need to know not just what types of mortgages available and how to get one established, but also what not to do. Even as buyer from within Ireland, getting approval for an Irish mortgage has been difficult in recent years. The amount of mortgage financing in Ireland is increasing, which implies that acquiring a house loan is becoming simpler. Banks, on the other hand, are still cautious about lending money, and so you can expect to be asked for a variety of papers to verify that any mortgage loan you take out is manageable to you.

You should be able to determine whether you want acquire a fixed rate or a variable rate loan when selecting a mortgage plan. This is a crucial decision because …

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5 Mortgage tips for first time buyers in Ireland

If you’re buying your first home in Ireland, chances are you will need to finance it using a mortgage. Getting a mortgage is a very big commitment, and may seem overwhelming, especially considering that if you miss too many payments, the bank may foreclose your home. However, mortgage approval rates for first time buyers are on the rise, and if you’re feeling uneasy, here are 5 tips to make the process a little less scary.

1. Budget and save effectively

You won’t get a mortgage without having a deposit ready, so it is important for prospective homeowners to open a savings account and start budgeting for their deposit. The lender will be looking to determine your ‘repayment capacity’, assessing your current expenses and financial situation. Mainly, they will be looking to see that the amount you save each month is greater than or equal to your mortgage costs. Be sure to limit overdraft fees and excessive spending, particularly gambling-related expenses, on your bank statements, as this will look bad to lenders.

2. Have a good credit rating

It is essential …

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Mortgage arrears in Ireland fall despite pandemic’s economic effects

Over the past year, the covid-19 pandemic has caused many economic challenges for Irish citizens and people worldwide. Between level 5 lockdowns, business closures, and soaring levels of unemployment, it would be logical to believe that people may be falling behind on payments, especially mortgages, which are most people’s largest and most important monthly payment. However, recent data shows that the number of mortgages in arrears actually  decreased during the first quarter of 2021, despite level 5 lockdowns and record high unemployment rates.

Recent data from the Central Bank shows that the number of family home loans in arrears decreased by 2,838 during the first three months of 2021. During this period, the Covid-adjusted unemployment rate hit its peak of 25.1 per cent in early January, as thousands of businesses were forced to close their doors due to level 5 lockdowns. This is surprising given that the number of people behind on their mortgage payments actually decreased, while conventional wisdom would expect to see an increase in arrears. This contrast suggests that government supports, such as pandemic unemployment benefits, have …

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