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Real Estate Information |
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Make Your House Earn Its Keep
Did you realise that there is a lot you can do get an income from what is probably your most valuable asset? Not only is your property a great (long-term) investment, your home could also bring you an income while you are still living in it. Here are some ideas to make your property really earn its keep. Does your property have a spare room? Firstly, in the UK did you realise that you can rent out a room in your house and not be liable for Income Tax on the rental income up to £4,250 per year? The scheme is called Rent a Room and applies to someone who lives as a lodger in your house. The lodger would be someone who shares your facilities and would have meals provided. The scheme was set up by the government to help alleviate the huge shortage of affordable housing in the UK. As well as advertising your room in your local newspaper or newsagent's window make sure that you ask around where you work and play! This scheme is particularly suited to people who live a long way from their place of work and only need rent somewhere to stay during the week. You would have a lodger that you knew and you would also get your weekends back for some privacy. A fun way to make some money from your home is to hire it out as a film location. It does not need to be a mansion or stately home of the type seen in costume dramas. For example, the house of Harry Potter's cruel Aunt and Uncle used for the films is on an ordinary housing estate in Bracknell, Berkshire, UK, and trust me it doesn't get much less glamorous than that! Think of all the shots in TV shows that are filmed in ordinary streets - only long running soaps have their own sets built for constant use. Recently we saw the staff of a local estate agent packing up their files and moving out. Thinking that the local housing market wasn't that bad, we asked what was going on. A film company has seen their shop front and decided it was perfect for a few scenes in the film they were making nearby! The easiest way to get your home on TV is to register your home with an agency which specialises in finding properties for TV and films, most will add you to their database for free, only taking a fee where your property is actually used for filming. It may not be a regular form of income but you could have the cream of Hollywood sitting in your living room! Copyright Jacqui O'Brien 2005 Jacqui O'Brien is the editor of http://www.ahomeofmyown.co.uk, the directory of UK Private Seller property websites where you can also list your FSBO property for sale free.
MORE RESOURCES: The talk show host pays $12 million for the 4,088-square-foot house with four bedrooms and four bathrooms. The ocean-view home sits on 1.26 bluff-top acres with beach access. In one of the more talked-about transactions in town, actors Brad Pitt and Angelina Jolie have sold their Malibu beach house to daytime host and comedian Ellen De Generes for $12 million. The four-bedroom, five-bathroom house built in 1920 for industrialist James Wigmore lists for $2,875,000. A decorative cast stone entrance opens to this restored Spanish Colonial Revival-style house in Pasadena's South Orange Grove area. Built in 1920 for industrialist James Wigmore, the house retains such original details as coffered wood ceilings and arched doorways. They don't believe they can sell their property for what it's worth, so they're spending money on making their homes more comfortable. Do you fit any of these descriptions? A biennial research report by the National Assn. of Realtors indicates that a handful of real estate agents and brokers and their clients either don't know the law or don't care to follow it. When it comes to lawsuits, real estate agents and brokers tangle mostly among themselves. The president aims to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages. Â The White House hopes to help millions of homeowners lower their monthly mortgage bill with a $5 billion to $10 billion plan to set up a streamlined refinancing program for people who are current on their payments.
The Standard & Poor's/Case-Shiller index of 20 large U.S. cities fell 1.3% in November from October as foreclosures continue to drag down the housing market. Three straight months of home-price declines in the biggest U.S. cities showed that foreclosures remain a significant drag on a housing market that is entering its fifth year of deterioration. L.A. Clipper Chris Paul may be quick down the court, but he moves pretty fast when it comes to buying multimillion-dollar real estate too.
Karen Mena managed to get a foreclosure on her San Bernardino home rescinded. But she continues to negotiate with Bank of America over loan terms and could still lose the house. Foreclosure commonly represents the end of a struggle. A borrower can't pay a mortgage, loses a home and moves on. A.F. Leicht designed quirky Spanish Revival houses in Los Angeles as well as evangelist Aimee Semple McPherson's landmark Angelus Temple. His interiors often had irregular-shaped or curved walls, rooms or hallways. This Los Feliz villa, with rounded rooms, fancifully shaped living room French doors and elliptical master bathroom, captures his signature style.
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