Reducing Energy Costs In An Old Building

by Magical Penny on June 23, 2021

Old buildings are notorious for guzzling energy. This is because these buildings were built to be breathable – timber, brick and lime-based mortar allowed moisture to escape the building. While such a design reduces mould, it also allows heat to escape. You then have the added issue of old wiring and old gas plumbing (some century-old buildings still have original wiring and pipes, which have nowhere near the same energy-efficiency of today’s pipes and wiring). 

Fortunately, there are a few ways in which you can make an old building more energy-efficient. Below are just a few tips.

Insulate the loft

One of the most effective ways to reduce energy bills in an old building is to insulate the loft. Heat naturally rises – an uninsulated loft can account for 25% of a building’s heat loss in winter.  

You can insulate the loft in a number of different ways. If you want to use the loft as a room, you can insulate the ceiling of the loft with boards, blankets or spray-on foam. If you don’t plan to use the loft, you could insulate the floor of the loft and block the loft hatch – the loft will stay cold, but heat from the rest of the building will stay trapped inside longer. 

Consider underfloor insulation

A lot of old buildings also have uninsulated basements or large voids under the ground floor floorboards, which can allow in drafts and cause heat to escape. It’s worth looking into different forms of underfloor insulation for this reason. This could involve insulating the interior walls of your basement, filling gaps between floorboards or filling the void beneath. 

Avoid exterior insulation

You may not be able to get planning permission for exterior insulation on old listed buildings. However, this is not the main reason you should avoid exterior insulation. Exterior insulation boards and exterior cladding can affect the breathability of an old building. Moisture can become trapped in the building and can lead to serious mould outbreaks and dampness. This is not worth trading for lower energy bills. 

Should you replace old windows?

If a building has old timber windows, you may want to think twice before replacing. Upgrading to uPVC frames won’t add much energy-efficiency and could reduce the value of the building – original timber windows can be an important part of an old building’s character. On very old listed buildings, you may not even be allowed to replace the windows unless they’re severely damaged. 

It may be possible to still add double glazing into the original frames in some cases to reduce energy loss. However, an easier option is to simply use thick curtains in the winter or add clear insulating film to the glass. 

Explore different forms of heating

Old buildings were heated by fireplaces – often one room at a time. Buildings owned by wealthy people had large ceilings to allow better insulation and large windows to allow heat in from the sun.

Consequently, standard modern heating solutions aren’t always suited to these buildings. That isn’t to say that traditional firewood fireplaces are the best option – such options can be messy, slow and potentially dangerous. However, there are options like biomass and pellet stoves that can use firewood in a more practical fashion. Gas and LPG heating can still be used effectively in old buildings, but it’s often worth exploring options like flue heating when it comes to large house heating, old office building heating or church heating. Standard radiators and electric heating may not always be as efficient.

Check for old wiring and plumbing

Old wiring in a building could be consuming a lot of energy and could even pose a fire risk. For this reason, it’s worth getting rid of such wiring. An electrician will usually be able to tell you if your wiring is old and in need of replacing.

Old gas plumbing is unlikely to be insulated leading to heat loss. It could also be worn, increasing the risk of a future gas leak. For this reason, you may also want to consider replacing old piping. A gas plumber will be able to tell you if this is necessary.

Switch to LED lighting

What is the best way to reduce electricity consumption in an old building? If it still has incandescent light bulbs then the best thing you can do is switch to LEDs. While LED bulbs cost more upfront, they use less energy to shine brighter and last longer, resulting in much lower energy bills in the long run. You can buy LED lights that look like old bulbs if you want to keep some of the original character of the home.

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Why 2021 Is Your Year To Buy A House

by Magical Penny on June 23, 2021

2020 brought us an entire year of uncertainty and this spilled over into 2021 with the pandemic.

The whole world was thrown into lockdowns and with social distancing and COVID restrictions, house buying wasn’t at the forefront of people’s minds in 2020. 2021, however, is proving to be different. We’re halfway through the year already, and the housing market has had more sellers than it has been for the buyers, but the buyers are still there and still clamouring for a new home. Those who have put their homes up for sale have seen some huge successes, but that doesn’t mean that it’s too hard to buy a house. On the contrary, with restrictions lifted, we’ve got some of the best reasons that you should choose to go ahead and buy a house this year.

Interest Rates Are Low

Right now, there is a huge financial strain on the markets and individuals looking to buy a house. There has been some decisive action taken, though, that lowers interest rates substantially. This means that the average house buyer out there has lower interest rates on a new mortgage, and Trufe experts can explain it better to you! Since interest rates are established to meet the fluctuations of the financial markets, you could choose to lock in those interest rates right now and benefit from them. These current rates may not exist a year from now, which means that striking now while you can will give you a smaller interest rate to look forward to. This will save you a huge amount of money over the course of your mortgage, which will never be a bad thing!

Everyone’s Buying

As we said, not only is it a great market for the sellers out there, but it’s still a great market for those looking to buy. The pandemic brought most of the good things in life into freefall before hitting standstill, but that doesn’t mean that the local real estate markets closed their doors entirely. Yes, they still suffered during the pandemic, but there were a lot of buyers and sellers left waiting and now they’re all rushing to buy and sell their homes! The summer months mark the high season for home sales, and now that restrictions are easing and the weather is warming up, buyers and sellers are ready to get going with their homes. The demand is expected to outstrip supply, so you want to get in there where you can so that you don’t have to worry about missing out once again.

Improving The Economy

Everyone went through emotional and financial hardship in 2020 and now that the numbers for employment and the economy are looking good, it’s time to buy. You will find that you’re not the only buyer on the lookout for a good deal on a new house. You could end up in a bidding war, and you’ll be improving the economy by buying a new house. Those who took in stimulus checks and who did their best to plan ahead will have hopefully saved some money throughout the pandemic where possible. This can only go further to help in your quest to buy a home. Take the time to figure out whether you are able to feed back into the economy with a house purchase – then go and find the right house!

Bigger, Better Equity

Given that so many people chose not to sell their homes in 2020, they turned instead to renovation projects. These renovation projects serve to add value to their homes, so you can bet that when you are searching for the perfect house, you’re going to find one that matches your needs. The demand for home improvement goods was so high that the whole first half of 2020 saw people selling out most hardware stores in their efforts to DIY! Reinvesting time and effort into their homes, sellers have managed to create a whole new atmosphere for their house, and buyers are now in the position to take up those sellers on their genius. 

There are going to be other buyers out there, and you will not be the only ones to put in any offers. However, you should consider that you can still make a great offer and end the year 2021 on a high with your brand new home purchase. Are you ready to get started with buying your new home? Speak to the experts and figure out whether you are in the right position to be a homeowner.

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Investing in commercial property overseas can bring about a variety of different benefits, but it also comes with a range of risks and potential problems that may threaten to derail all of your hard work. It’s not as easy as purchasing a property that’s in a familiar location nearby, as each country has its own set of rules and guidelines that you must follow when investing in commercial premises, and you may even face a fine or penalty charge if you fail to abide by the law.

It’s important to know the costs associated with buying commercial property overseas, as you need to prepare yourself financially for what lies ahead. Encountering unexpected fees could put your project in danger of failing, so it’s a good idea to perform in depth research in order to plan for every possible occurrence. The first and likely the largest cost that you need to consider is the down payment or deposit, which in countries like Malaysia must be a minimum of 20%. You’ll also need to cover estate agent and legal fees, loan agreements and potentially repair or renovation costs, so be sure to factor these into the equation. If you find that you don’t have the money you need to perform each and every task, then do not go ahead with your purchase.  

It needn’t be difficult to learn more about the costs associated with buying commercial property overseas, as this handy infographic explains what you can expect to pay when investing in Malaysia. 


Infographic Design By PropertyGuru Malaysia

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Is Investing in Singaporean Property Smart?

by Magical Penny on June 9, 2021

investingSingapore is a popular tourist destination. With a beautiful climate, affordable living comparatively to the US, and English as a widely spoken language, Singapore is an excellent place for a holiday. On top of this, Singapore also sees many retirees settling down for the last section of their lives. Singapore looks like a great place to buy housing as a property investor, as the return will be great. 

However, house prices in Singapore are much higher in comparison to their western counterparts. In the US, the average house costs $320,786. In Malaysia, it is the much higher $874,372. When it comes to prime property prices, Singapore is ninth in the world. Clearly then, investing in Singapore’s property is going to be incredibly expensive. 

You may be thinking that there’s a chance the high price will be worth it for the return of tourism and retirement. However, the price isn’t the only barrier to investing in property in Singapore. Foreign investors looking to buy in Singapore don’t have access to buy all kinds of property. Most notably, new HDB flats cannot be purchased by foreign investors. To see the full extent of what you can and cannot buy, check out the infographic below. 

For those who find that the price and restriction are no barrier to buying, investing in Singaporean property can be a smart move. Looking at the Forbes 40 richest people in Singapore, many of them made their money through property investment. 


Infographic Design By: PropertyGuru Group

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How to Take Control of Your New Business’ Finances

by Magical Penny on May 31, 2021

save early, save oftenPreparing to launch a new business is an exciting time in your life. You may have dreamed of running a business of your own for a long time, so finally making your dream come true is a big moment. When you start a business, every day brings new experiences, and it can be quite a significant learning curve initially. While there are many different lessons you will learn along the way, some aspects of running a business are too crucial to leave to chance. One area of your business that needs to be managed carefully from the start is its finances. Your ability to effectively manage your business finances can make or break your company. Here are some ways you can take control of your new business’ finances right from the start:

Do Your Research

Starting your new venture with your eyes wide open and with a clear idea of what to expect is vital. Carrying out thorough research will pay off in the long run and ensure you are as prepared as possible to manage your business’ cash successfully. Gaining a realistic idea of how much you will need to spend on purchasing equipment and regular running costs will ensure you do not spend more than you need and will enable you to put together a realistic budget.

Don’t Overstretch Your Budget

Once you have established how much you will need to spend to launch your business and on regular running costs, you should be able to keep your spending on track. It can be tempting to splash the cash and spend more than you need to, but over-stretching your business financially from the start can put you under a lot of pressure. The first year of a new venture can be challenging while establishing your reputation and getting your business known. Stretching your finances to the limit puts you under even more stress to make your business successful quickly.

preparing the roadTake it Slow

If your business has got off to a flying start, it can be tempting to immediately start investing money in new equipment and planning to expand. However, trying to grow a business too quickly can be detrimental to the future of your company. Getting a fledgling business to try and support further expansion could be a step too far and jeopardise your company’s future.

Get Professional Help

There is so much to learn as a small business owner, and it would be impossible to be an expert at everything. So, it can be beneficial to gain expert help to give your business the best chance of success. Choosing to use small business accounting companies is something that many new business owners find beneficial. When you have a professional to guide you, many of the most stressful tasks that you need to tackle are a lot simpler to navigate. Tasks such as monitoring your cash flow and completing your tax return can be taken care of on your behalf and ensure your business’s finances are being monitored.

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Protecting Your Commercial Property Effectively

by Magical Penny on May 22, 2021

home insurance in the UKIf you are in the market for commercial properties, you have recently made a commercial property investment, or you have a vast portfolio of such properties, there is a lot that needs to be considered. No investment comes without any risks but there are certainly things that you can do to minimise the risks when it comes to your property investment journey.

Considering that, we have put together a collection of tips that are designed to assist you when it comes to protecting your commercial property in an effective manner so you can have peace of mind. Let’s take a look at some of the things you can do.

 

  • Make sure you invest in quality security systems – The first thing you need to do is make sure that you invest in quality security systems so that you can protect your business property from a physical standpoint. From CCTV to alarm systems, there are a lot of different approaches that you can make the most of when it comes to protecting your physical premises. You can always hire a security expert should you need a helping hand. After all, you have worked so hard to get your business to where it is today, and the last thing you want is for this to go down the drain because of poor security measures. 
  • Protect your business from a legal standpoint – Not only do you need to protect your business in terms of physical security, but you also need to make sure that is protected in terms of the legalities. This is something that you can do with the help and assistance of solicitors for commercial property specifically. They know everything that is required to secure commercial property deals and ensure that contracts are watertight so that there are no issues further down the line. You should never cut corners when it comes to this.  
  • Make sure you carry out regular maintenance to protect the longevity of your property – The final step that you need to take when it comes to protecting your commercial property is to conduct maintenance on a regular basis so you can be sure that your commercial property boasts excellent longevity and that you do not need to spend a fortune on repairs. Putting together a maintenance checklist makes a lot of sense so that you can keep on top of everything and you make sure that things do not run out of hand.

 

To conclude, there are a number of different steps that you can take to protect your commercial property in an effective manner. We hope that the ideas and suggestions that we have mentioned above will aid you when it comes to protecting your property in manner different ways. Not only do you need to consider protection in terms of security for your property, but you also need to think about the likes of legal protection too. 

Make sure you do everything in your power to reduce the chances of anything going wrong. 

 

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save early, save oftenStarting a business usually has numerous requirements that will consume your time, efforts, and finances. You need to have a solid plan to ensure you lay a solid foundation on which your business will grow. You need to check on your financiers and the resources you require regarding tools, equipment, materials, property, employees, and legal documents. 

The location of your company and the type of office or building you choose will affect your business potential. It is important if you are keen on finer details that can significantly influence your business’s success. Even though you will have done your feasibility study, further checks and affirmation will give you the confidence you need to move on with the plan. 

Here are some questions you should ask yourself to verify the company’s location and building:

Can the Place Accommodate Expansion and Growth?

You must think about the future of your business when selecting your business location. If you need to shift locations once your company grows, it may cost you extra expenses and a lot of time to build a new clientele base in the new location. Therefore, consider if the location can accommodate your business growth by providing more space or additional resources. 

How Can You Classify the Accessibility and Population of the Area?

The population of the area will directly affect the customer base and the workforce. It would help if you also considered the traditions and beliefs of the area, as it may curtail your operations. Check out the accessibility and network of the region to determine how easily you can connect with suppliers, customers, and employees. 

Do not sell yourself short by getting an office for a bargain but without any networking capabilities. Consider your business niche and choose a central location that will promote your growth.

What Is the Condition of the Building?

Checking out the condition of the building or office you want to lease will help you get a befitting business place. You need to carefully scrutinise each aspect from the lavatories, space, ventilation, and if you can upgrade or add your company’s touch. 

Warehouses and industrial operations will have additional factors like flooring, ceiling, walls, and building strength. Insist on resin floors for your industrial uses because of its reliability and performance. For office spaces, you can go for an aesthetic loo or consider the maintenance of the flooring.

How Secure and Peaceful Is the Area?

You need to consider the safety of your business location. Insecure areas will disrupt your operations and cause unnecessary tensions and stresses in your business. Even if you can insure your business against such vices or use high tech security measures, the amount of time to rebuild and investigate will cost the firm its profitability. 

The worry and concern that you will wear on your face might impact your mood and determination negatively as you will be on edge. It will also affect the reputation of the brand, thus negatively affecting your business sales. 

The ultimate aim in business is to create and generate wealth through maximising profits. Choosing a perfect business location will significantly influence the success of your firm. Therefore, you should take the necessary steps to ensure your connectivity, networking, safety, and business operations are well taken care of in your choice. 

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3 Things You Can Buy Cheaper Online

by Magical Penny on May 18, 2021

A lot of the time, shopping online is looked at as a risk, but you should be using it to save yourself some money here and there. There are many things that you can buy online at significantly lower prices than you would be able to in-store, and you have easier access to price comparisons and reviews. Online stores are cheaper to run than the stores that you’ll find locally, which naturally means that the cost of running their operation overall can be cheaper – but it can depend on the business itself.

Healthcare

These days, there’s no end to what you can buy online, and when it comes to healthcare, you have many options. Firstly, depending on where you live, you can have your prescriptions delivered to your home – which many find convenient, especially due to lockdown and social distancing. You can also browse online to find face masks, which is something that has been in high demand for over a year now. If there’s anything you need concerning healthcare, it’s worth looking online to see if it’s easier for you to get there.

Books

Buying books can be expensive, especially if you’re someone who reads fast and is constantly looking for something new. If you’ve bought books from stores before, you’re likely aware of how expensive they can be. There are many sites online where you can find those same books at a much cheaper price. Not only that, but having access to all of those different sites, means that you’re going to have a much easier time finding the best price for yourself. A lot of sites will even have reviews, like Amazon – which means it’s you can quickly see what others thought of the book after they read it.

Expensive tech

If there’s anything that you can buy online at a cheaper rate, it’s expensive technology. There are often sites having different promotions, and you can save hundreds on expensive devices. Buying from a store will often come with a lot of add-ons that you don’t necessarily need, too. Signing up for insurance, while the item already has a warranty – it’s just not necessary, and you may be being overcharged for the product you’re interested in.

Identifying trustworthy sites

Online shopping is only risky if you’re careless with who you put your trust into. It’s a lot easier to come across scams online, as you’re never in contact with the product itself until it arrives at your door. But how do you know if the product will actually make it to your door? Well, there are many ways you can figure out whether or not the site is legitimate or fake, but it can take a moment. If you’re unfamiliar with a website and aren’t sure if it’s trustworthy, always take the time to look into whether or not others have put up reviews on different sites. There are several websites where you can write reviews on sites like this, and it should give you a good idea of whether you should be trusting that site or not.

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Investing in real estate is commonplace but it’s not always a simple way to make money. While purchasing bricks and mortar is often viewed as a relatively safe bet, it’s essential to understand what buying and developing property involves. Before you sign on the dotted line, here are some factors to consider. 

Your budget

The success of any type of development relies on being able to balance the books and tip the scale in your favour. Before you invest money in real estate or you buy land with a view to building new houses, for example, always set a budget. Your budget should cover every aspect of the acquisition, including the price of the house or plot, fees and charges and any work that is required to reach the point where you let or sell the property. Analyse your finances, figure out how much you can afford to spend and assess the level of risk. Conduct extensive research, gather information about specific locations or areas and use data to inform decision-making. There are several factors that influence the value and saleability of houses and apartments. You need to make sure that the odds are stacked in your favour before you make any significant moves. 

Your plans

There are multiple options when it comes to buying property or putting money into real estate ventures. Many people choose to buy a fixer-upper and then sell it on or let it out to tenants. Buying holiday homes is also a popular choice and it’s also common to invest in a second home to let. Alternatively, there are options including buying land to develop and considering commercial or residential ventures, such as developing units for retail or hospitality or building flats. If you have plans to develop land, it’s crucial to think ahead and draw up plans. What will you do when you finish the building work and the properties or commercial premises are ready for use? You could consider selling or you could let the units or apartments and work with a block management company to save you time and stress. Weigh up the pros and cons of the options on the table, ask agents to provide valuations and figure out where you stand financially. You might decide to hang onto the development and then sell at a later date, for example. 

Your target buyer or tenant

When you invest in property, one of the most important commandments to remember is to use your head over your heart. Locating a house or an apartment for investment purposes should be a very different experience from finding a dream home. Focus on the numbers and go into your search with an ideal buyer or tenant in mind. Think about what that individual or group would look for in a property and consider the location very carefully. If you’re marketing to families, for example, proximity to good schools is essential. If you have young professionals in mind, it’s beneficial to be close to transport links and amenities like shops, bars and cafes. When you view properties, always put yourself in your tenant or buyers’ shoes. 

Property development can be incredibly lucrative but there are always risks involved. If you plan to buy land, you’re looking for a house to let or renovate, or you have grand plans for a new apartment block or commercial premises, always bear these essential factors in mind. 

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Three Ways To Save Big On Transportation

by Magical Penny on May 12, 2021

Most budgets have 15 percent of monthly income set aside for transportation. This hefty amount often seems like a necessary evil for most. By reducing this slice of the spendings pie, you’ll have more money to allocate to other bills or savings. Here are three ways you can save big on transportation. 

Buy reliable second-hand vehicles

You’ve saved a large deposit for a car, and now you’re ready to buy. Certainly, buying a used car rather than a new one straight from the dealership makes the most sense financially. Unless you’re buying classic cars for restoration rather than daily use, a vehicle is never an investment. The moment you drive a new car off the lot, it loses significant value. 

Though depreciation is a major consideration, going for the least expensive vehicle is often not the best way to save money. Though the upfront out-of-pocket cost may be higher, make sure you spend your money on a car that is reliable and fuel-efficient. You’d be surprised how much an unreliable make and model can cost you in maintenance each year. A gas guzzler will also make a big dent in your wallet. 

Some makes and models, such as the Honda Civic, also have a very high resale value. The more you can recuperate the costs of your vehicle, the better. 

Regularly shop for insurance

Most people only shop for insurance when they purchase a vehicle and then stick with this company until they go to sell. At a minimum, you should be shopping around for insurance annually. Chances are, you’ll get quotes from other insurance providers that are below what you currently spend. 

Shopping for insurance doesn’t mean you need to switch companies regularly. To avoid the paperwork, simply send your new quote to your existing provider and ask if they can do a price match to retain you as a customer. In many cases, your request will be granted. If your insurance company just doesn’t budge, then it may be time to put in that extra effort to switch. 

Use alternative modes of transportation

In this day and age, a car often feels like a necessity, and in many cases, it is. Maybe you live somewhere with cold winters and heavy snow, making an SUV with snow tires essential for your safety. Perhaps you live far from your workplace and don’t have any reasonable public transportation options. 

Though having a vehicle is non-negotiable in some situations, it doesn’t have to be your primary mode of transportation in all cases. If you have pleasant summers, why not invest in a motorcycle to get to your workplace? Though you’ll need to invest in some gear, such as BMW motorcycle gloves, the low cost of insurance and fuel more than make up for it. 

Bicycles, scooters, and roller skates are also viable transportation options. Other than the out-of-pocket cost for the equipment, you’ll spend nothing on fuel or insurance. You don’t have to use these to get to work every day, but in the summer months, they’re an excellent option for running to the grocery store or visiting a nearby family member. 

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