Modern Living

Modern Living

Home and real estate topics discussed in detail

3 Necessities to Budget for in Your Business Plan

As you draft your business plan and talk to investors about opening dates, you have so many ideas about your new company. You’ve designed a logo in your head, prepared for your first sales pitch, and decided what your store will look like. While these details matter, you are also responsible for some tasks that seem mundane but actually determine whether or not you have a good opening. Make sure to leave room in your tentative budget for these necessities.

1. Water

Even if your company does not do any manufacturing, you need a reliable water source for drinking and hygiene purposes. Depending on your building’s age, it probably is already connected to your city’s water main. Still, you must contact a water company in MD and keep up with your monthly payments so that your water is not shut off.

2. Heating, Ventilation, and Air Conditioning

Heating, ventilation, and air conditioning services are essential to ensuring you and your employees’ health and safety at work. An existing HVAC system needs to be thoroughly inspected and repaired well before your opening day. If your workplace does not have one, pay for its installation immediately. HVAC systems are more important now than ever before, as they help slow the spread of the novel coronavirus.

3. Electricity

Whether you’re primarily conducting sales from your workplace or manufacturing products, you need electricity. Most power companies require you to pay your bill monthly, so make sure you balance your expected monthly invoices in such a way that you’ll have enough money. If you have extra money, consider investing in solar panels or another source of alternative energy.

As you prepare for your first day and figure out your different expenses, don’t forget about the less-exciting bills. That way, you’re not taken by surprise when your invoices arrive.

Buying A Fixer Upper

When an investor buys a house, they want to resell it at its highest value. Many times, these houses can be in rough shape. They need a lot of work which takes time, but the payout, in the end, is worth it as they could see profits landing between five and six figures. Here are a few ways to find a home and fix it up.

The Location

The location of the home is important when flipping it. There are a few things to think about that will make a house attractive on paper. The school district that it is in can be important for some families. Education is a factor in which adults will choose where to have their kids attend school. The taxes and crime rate within a town should be considered as well. This can add extra burdens to the buyer that they do not want if they aren’t very good.

The Inside

The remodel should look up to date with the newest styles. The color and themes should look neutral as more people will like it. Keep in mind that you need to fix the whole house. Make sure the attic and basement repairs are finished. People want a move-in home that is completely ready, and most of the time they are willing to pay a higher price for it.

The Outside

The roof, siding, and windows are all important components of the home. They can cost the most money to fix, but they can also add a lot of value too. Most buyers will look at these things first before walking in the house and could make a decision based on them. Make sure they are in the right condition, whether that means putting in new ones or fixing the old ones.

Flipping houses can be a lot of work. If you have the capital and the ability to do this type of investment though, it can bring large dividends down the road.

Ways to Spruce Up Your House

Renovating your house can be scary with all the decisions that have to be made. Not to worry, keep reading for a few simple tips on how to spruce up your house. You may be surprised by how easy it can be.

Outside Area

Fixing up your backyard or looking into decks and docks west palm beach can add a lot of functionality to your home. If you have a place to hang out outside, it makes it much easier to host guests, and it is nice to be able to enjoy your morning coffee outdoors when the weather is nice. There are tons of options, like a pool, fire pit or pergola that can give you a comfortable place to sit and offer entertainment for all. Corn hole could be an easy and inexpensive addition to your yard that could make for hours of family fun.

Floors

Replacing your old carpet or tile floors with new hardwood will completely change the look of your home, and they would be much easier to clean. Not only will new flooring give your place a fresh feel, but this is a great way to increase the sale price of your house if you were ever to put it on the market. Grab a few samples, and bring them home, so you can decide which options you think will match best.

Paint

It is amazing how a fresh coat of paint will brighten a room and could easily change the look of an older piece of furniture. If you have any exposed brick or built-ins in your home, painting these unique features will bring them from out of style to modern and new in just a few hours. Instead of replacing worn cabinets in the kitchen and bathrooms, save yourself a chunk of change and bring them back to life with a fresh coat of white paint.

Furniture

It is normal for your style to change as your favorite designers continue to release beautiful furniture pieces. Replacing your sofas and kitchen table is much less expensive and time-consuming than a full renovation, and it can be a fun activity to go out and shop. Changing up your furniture is also a great way to save some space and give your rooms better functionality.

There are so many decisions that go into changing up your home. The good news is, the tips above are a great way to spark some ideas.