Mastering Money: All You Need To Learn

by Magical Penny on March 22, 2017

Money is a hard area of everyone, at the moment.

Even big companies feel the squeeze. And, nobody is comfortable. This can make it hard to be confident with your money; especially when it comes to knowing what to do with it. This leaves most people with their money in their current account, without any potential for real growth. This is a shame and waste. But, it’s also something that you can do something about. Instead standing by, you can take control of your finances. And, you don’t have the break the bank in the process. This is one of the best ways to improve your life.

financial newsEveryone talks about investments like they’re the best thing in the world.

But, they can be risky. Of course, it’s a good idea to be thinking about this sort of thing. But, you should only consider investing your money once you know exactly what is out there. Unfortunately, this can be hard. And, it will take some boring research. The services and products that companies like this offer will be different for each one that you visit. So, you need to be looking at investor services about us pages for each site that you visit. Along with this, it can be worth getting help when you’re choosing your investments for the first time. Some will even choose to keep this sort of help going long after they’ve made their first investments.

money making ideasBefore you can invest, though…

…you need to save some money. Having savings is a great way to take some stress out of your life. But, it will be a challenge to get there. If you already live paycheck-to-paycheck, the rate that you can save will probably be very low. This isn’t a problem, though; you just have the patient. Use a strict budget to make sure that you have leftover money at the end of each week or month. Once you start saving, you need a target to reach. A lot of people say that it’s wise to have at least three month’s worth of money saved and waiting. This will give you a good safety net in case things go wrong. And, it will help you to make sure that you always have enough money.

Ultimately, the whole point of making sure your finances are in order is so that you can happily spend money. This can be hard, though. For a lot of people, buying just one small thing isn’t enough. And, this is where people struggle the most. At the start, it’s best to avoid spending as much as you can. Don’t buy things unless they are absolutely necessary to you. And, try to cut down on what you need to buy. This will make it much easier for you to start saving and prepare for investment.

This should give you a good basis to start working on your own money. It can be hard to make sure that you spend as little as possible. But, remember; all of this work will lead to greater things in the future. And, you may even be able to start making some serious money if you play your cards right.

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Everything You Need To Know About Buying Property Abroad

by Magical Penny on March 21, 2017

luggageA place in the sun is the dream of many Brits across the country.

The option to jump on a last minute flight and jet off to a second home in the sun, or even leave behind the cold winters and miserable, grey summers of the UK altogether to move to warmer climates more permanently is the goal of many. On the face of it, buying a property abroad looks just like property purchases on home soil, but in actuality, it’s the differences that can cause a few problems. The language barrier, unexpected costs, and sneaky sellers are all potential unwelcome surprises, so it’s essential to be prepared to keep your money and your investment safe. Here’s everything you’ll need to know about buying property abroad.

Create an overview first

First things first, you need to decide why you’re doing this. Do you want to move immediately? Do you want to spend the summer in the UK and winter in the warmer climate? Is it an investment with buy to let in mind, and retirement in the future? Do you plan to timeshare it with another family? The reasons for your purchase will dictate many different elements of your decision making. From the size and cost, to the location and accessibility.

In these situations, lists are the future. A list of needs and wants before you even start looking at specific locations or buildings is essential to finding the perfect property for you. Before you even consider your price range, it’s good to know what is essential for you in a home abroad, and what is desirable but negotiable. What view do you want to be able to wake up to every morning? How hot would you like it to get in midsummer? Do you want a doer-upper? This then allows you to narrow your searches, and helps you to communicate desires effectively to any agents you deal with. This overview is your guidebook to finding your dream home, so the more comprehensive it is, the more effective the search will be.

 

Don’t choose location on beauty alone

You may have your dream location in mind – a luxurious North Cyprus property, a funky Marbella apartment, or a cute mountain cottage in Spain – but have you considered the implications? If you’re planning on retiring there, what is the local healthcare like, and how easy is to to travel to a major city airport to travel back to visit family, or welcome visitors? If you’re buying to rent, is the area going to be attractive to tourists? What are the local amenities like? Is there a great nightlife, a low-cost airline, and good public transport in the area? Research the area, and try to spend time there in the on and off season. Look at it through the eyes of both someone who lives there, and someone who is visiting for a week-long holiday. Speak to the locals, especially if there are people who have done the same thing as you, and ask about their experience. There is more to the location of a property in the sun than the sun, sea, and sand.

planeCreate a comprehensive budget

You wouldn’t buy a home over here without understanding all the costs involved with the transaction, so don’t fall into that trap abroad either. The difficulty can come when trying to understand hidden costs. Over here we take for granted the associated searches and taxes that come with property transactions, but it’s obviously different depending on the country. Fully research the laws and taxation that comes with property in your country of choice so that nothing comes as a surprise. You will have a good idea of the money you have available, especially if you’ve already spoken to a mortgage provider, but how you will allot that money to the various outgoings is a whole other kettle of fish.

Make sure you understand the current market conditions

The way our money interacts with the UK market is not a good resemblance of the way it interacts with housing markets further afield. Especially while all this Brexit malarky is afoot, caution is very much advised. Property markets tend to cycle, but Cyprus or France will be cycling at a different rate to us, so be sure to research markets thoroughly before committing. This is especially important if your purchase is an investment. When the pound is stronger than another currency which is also gaining strength, buying abroad can be an investment that shows great returns – it’s all about the timing, though.

Never go it alone

With the overseas property game brimming with new experiences and possible problems, you’re going to want legal representation that you can trust. Not just trust them to act in your best interests, however, but trust them to completely understand that transaction at hand. A solicitor who has experience dealing with overseas property investments and purchases will be far better equipped to safeguard you against potential surprise fees and legal issues. Ensure that they confirm that all of the required permissions, deeds, and licenses have been acquired in writing, in case of any problems further down the line.

Use independent solicitors, as you would with any property purchase, but also don’t be afraid to seek advice from independent architects, surveyors, and accountants, who understand the market in your country of choice. These people will help to put your mind at ease that everything is above board, and ensure you don’t run into any unnecessary problems after it’s too late.

 

door to your dreamsSort out the mortgage as a priority

When you’ve chosen the house of your dreams in the perfect location, don’t sign anything at all without first obtaining your Agreement In Principle from your mortgage provider. If, for whatever reason, your mortgage is refused and you have already made an agreement with the vendor, you could find yourself in a sticky legal situation, with a lot of people complaining of burnt fingers. Remember that the likelihood is that your deposit and mortgage will be payable in the local currency, which means that it is susceptible to changes in exchange rate. This concern is lessened significantly if your property is buy to let, as the rental money will likely be in the local currency and impacted in the same way by the exchange rate.

Don’t overlook the valuation

Just as you would over here, be sure to get an independent valuation before anything is agreed with the vendor. This should check for damp, subsidence, electrical or plumbing problems, and even issues with the neighbours over boundary lines. If you do not get this valuation, any issues become your own, and you are left with no room to negotiate over prices to pay for rectifying problems. It can also flag up issues that you just aren’t willing to deal with, and put an end to the process before it goes too far. A worthwhile cost, for sure.

Research the vendor

If you’re buying a new build or from a larger company, spend some time researching the vendor before making any decisions. Did they work to schedule on previous projects? Were there any complaints about the quality of their work on other builds they’ve funded? In other people’s reviews, have they always acted fairly, dealt with disputes effectively, and ensured good customer service? This will paint a picture of the vendor in your mind, and allow you to decide if you’re happy to work with them going forwards.

 

ImportantBe careful with contracts

Whatever you do, never sign anything you don’t understand! If they provide both an English language and a native language contract, ask your solicitor to confirm the two are identical before you commit – you could be signing your life away and not even know it otherwise. It’s crucial to understand every part of the contract, so be sure to go through it with your solicitor to understand points which you’re unsure on. Your solicitor should be able to ensure that the contract contains everything that is usual in this sort of transaction, including details of the deposit and how it can be refunded, as well as the time frame and any other important aspects of the leasehold or freehold.

Don’t assume everything is the same as at home

Presumably, the main reason you’re buying abroad is because it isn’t the same as what you’re used to, and this will extend to the whole purchase process too. Don’t be surprised by differences in the law, taxation, and purchase process – do your research so you’re more able to take it in your stride. Inheritance tax, capital gains tax, stamp duty, and others will differ from country to country, so don’t let anything sneak up on you. A good lawyer who is proficient in overseas purchases will be able to help you to understand the differences between your new home and your old home, as far as buying and selling goes – they truly are invaluable in this process.

A home in the sun could be your dream future, but tackling the purchasing process before can be stressful and nerve-wracking. Do your research, never agree to anything you don’t understand, and keep trusted individuals nearby, and you’ll be in your dream property in no time.

 

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The Alternative Investments

by Magical Penny on March 20, 2017

 

investingWhen you think about the word investment you may think that you need a huge amount of money to see a decent return.  Whilst it is often true that the more you invest in something, the better the return will be, you don’t have to work your money too hard to see a better rate of interest than the average savings account gives you.  Of course your money tends to be safe guarded when it is in a bank, however providing you are investing your cash into tangible assets, you might find a way of making a little extra money and bagging yourself more profit than you could have dreamed of.

Classic cars made a huge impact on the alternative investment scene…

…with traders sourcing from across the globe and better access for shipping in and out of the country.  Whilst there are a whole host of tax laws you need to get your head around, investing some of your savings in a future classic could be a really great way to see a better return.  Cars such as the BMW Z3 are super low in value now and you are able to pick one up for under $1000.  These are set to start rising in value as they are icons of their era.  The Mazda MX-5 is another 2 seater cabrio set to make a rise over the next five years.  Investing in future classics like this could give you a little bit of retro car fun for a couple of years and then see you set to double your initial investment as prices go up.

The antique market is a little harder to crack…

…as there are so many programs on TV which have made us all far more aware of the value of our grandparents heirlooms.  However there are still some great bargains to be found.  From antique barometers to larger pieces of french furniture, down to small ceramics or items of jewellery.  Keep you eyes peeled at garage sales or head out to some auctions and then squirrel them away for a decade and see how you have done.

Wine is an area the rich and famous have been investing in for a while…

…unfortunately not to drink, however those with a little more capital have been buying two crates, drinking one and storing the other.  There are companies such as Woolfsung who can help you learn a little more about wine, future trends, popular years and how to spot a future investment.  What a way to get saving!

Art has been a great investment for a number of years…

…but you do need to have an eye for up and coming artists.  Get looking around your local galleries and start talking to regular faces, you might pick up a few good tips.  Just be careful though, buy things you like and you will ensure you are never disappointed.

You don’t always need to think traditional when it comes to investments.  Research some of the new financial investments and, if you can afford it, it’s OK to take a little chance on something fun!

 

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5 Approaches To Investing Your Money

by Magical Penny on March 17, 2017

growthInvesting successfully requires a few different characteristics and pieces of knowledge, not least of all the patience and understanding of how to reach your long-term goals. Success required careful consideration and a combination of knowledge, tools, motivation, concentration, time and advice you can truly trust.

However, which approach you take is completely up to you. As such, we have compiled a list of the different approaches you can take investing so you can judge which one is right for you.

 

  1. Go It Alone

Going it alone has its ups and downs, but requires a serious understanding of how investing works. It doesn’t matter whether you are investing in stocks and shares or if you want to get into trading, of which binary trading is extremely popular, you will need to be confident in conducting your own analysis and be able to go from there. Here will be decisions that will need to be made regarding assets, which investments are the best to purchase, buy and sell yourself, carefully monitor your portfolio and understand how to be tax efficient in your handling of everything.

  1. Have An Adviser You Trust

The major benefit of having an adviser is that they will be able to steer you in the right direction across the board. This will include allocation, which investment suits your budget and needs. However, the final decision lies with you as they are nothing more than an adviser. What’s more, you will still be required to have a proactive mentality, because any advice you need will need you to make contact with them. They don’t keep an eye on your portfolio or highlight any changes. So make sure you work out a great system of operating.

  1. Co-Manage Your Investments

ftse100This approach will take a lot of the pressures off you as your advisor will take control of a lot of the aspects of your investment. Typically, these will include analysis, recommendations, implementation and monitoring your portfolio. They will also report to you periodically. This means they will be the more pro-active party and contact you should anything need discussing, such as problems, changes, tax efficiencies, re-balances, general updates and strategic opportunities.

  1. Get A Money Manager

A money manager takes most of the responsibility and decision-making and will invest according to the predetermined plan you both decided to go with. A money manager will monitor your portfolio, manage your investments and make any changes that may be required, needed or wanted. In short, you don’t have a role as an influence. Instead, you play a role that is more closely aligned to that of an observer throughout the process and the results.

  1. Commission-Based Advice

This is an approach that is often filled with conflict because your interests may clash with that of the salesperson and the financial company. Their interests don’t often align with what is best for you as an investor, and that means you should be wary of what advice you follow. The other major issue of this approach is that you pay a commission, and not just on your initial investment because, should you decide to change investments, another commission will be charged by the financial services company you are using. However, broker-dealers usually know what they are doing, which is why they have become such massive names in the financial industry. They include brokers like Merrill Lynch and Morgan Stanley.

Read more investing articles on Magical Penny

 

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Sell Membrane: Mistakes To Avoid When Putting Your Home Up For Sale

by Magical Penny on March 17, 2017

We all make mistakes. It’s big part of how we learn to improve ourselves. But making a mistake when selling your home can have dire consequences, not to mention a drastic loss of finances. There are some common mistakes that people make when settling up, try not to make any of them yourself.

window shoppingNot Hiring A Professional To Sell Your Home

A lot of people may think that by selling their home without going through an estate agent, they are saving themselves a lot of hassle and admin fees. Without going through a professional, you will take a lot longer to sell the home, and you will drastically undersell yourself. Checking out reviews for island homes, you will see the importance a realtor places the importance of honesty and positive feedback. These professionals have superior knowledge of the market. Without knowledge of the market, you won’t have any idea of whether you are underselling yourself or not, leaving you out of pocket.

 

Ignoring The Essential Repairs

Your house was an investment, and it will be for the next people who buy it. If you don’t take the necessary precautions and fix up any damage before you sell it, it will lose you money because it will go for less on the market. It will cost you a lot less to fix the damage and recoup the spend (and more) when you sell it.

ImportantSelling An Empty House

The empty home gives a false impression of space. The best approach is to use a few items of furniture to really give the impression of what it is like to be lived in. There are many people who buy a property purely on gut instinct, and while this benefits in the house being sold, it can make them backtrack on the deal at the eleventh hour. Decorate your house to give enough space, but avoid cluttering out the home, you want it to look lived in as opposed to a show home.

 

Honesty Is The Best Policy

In the long process of home selling, you need to be upfront with all the necessary information. Failure to disclose something in the early stages could mean losing money later on in the process. For example, if there are problems with the home it is better to admit these before the buyer uncovers them it could cost you a lot of time in getting the issues sorted. Buyers are going to be looking over everything with a fine-tooth comb, so make sure you are honest right from the outset.

Make Your Home Presentable Online!

Over 90% of buyers begin their search for a home on the internet, and a poor set of photos will do nothing to sell your home quickly. Instead of taking wobbly, poorly-framed pictures with a camera phone, invest in some proper camera pictures to show what the house is capable of. A house that is well-lit and inviting is going to sell much better than a couple of pictures of a garage and living room!

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A Room-by-Room Guide of Home Money-Saving

by Magical Penny on March 15, 2017

Though your home may mean the world to you, there’s no denying that it can be mighty expensive. The problem is that many people are losing money without even knowing it. Saving cash doesn’t necessarily have to involve huge lifestyle changes, but instead making some minor adjustments can really make all the difference.

So, let’s have a closer look at the house, room by room, to find out some quick and easy ways that you can save or make a bit of extra cash.

remortgage house loanLiving Room

Let’s start our journey around the house in the living room…and let’s begin by turning off the television! Not only will you save on electricity costs, you also won’t be so influenced by advertising telling you what to buy next! You can also spend this extra time doing more of the things you love, or maybe even channeling your energy into starting a small business.

Now, let’s look at that DVD, CD and game collection. With so many selling platforms available these days, it may be time to put some of these up for sale, clear some extra space and make some extra cash.

As your living room is where you spend a great deal of your time, this is where you can really rack up your lighting bills. Consider switching your traditional light bulbs for their more energy efficient LED counterparts.


lightbulb momentKitchen

It’s time to wander over to the kitchen. This is the room in which you are likely to rack up your electricity and gas bills, so why not do a quick energy comparison with Simply Switch? Switching to a cheaper provider is a great way to save money with minimal effort.

Now let’s move over to your fridge…is it disappointingly bare right now? Before you restock it, write out a clear shopping list and stick to it. This will stop you impulse buying and picking up that extra bag of Doritos that you really don’t need!

Instead of buying sugary soft drinks or fruit juices, try drinking some more of that clear liquid that comes out of the tap. Not only is it free, drinking more water has a range of important health benefits.

Bathroom

 

Though you may assume that having a shower uses less water than having a bath, that’s not necessarily true. Some power showers can be very wasteful which is why you should consider installing an eco shower head which controls the flow and spray pattern of the water.

While you’re in this room, if you can hear a drip, drip, drip, not only is this annoying, it could be money literally going down the drain. The longer you leave a dripping tap, the more money you will be wasting so don’t delay a minute longer   

Bedroom

We’ve already talked about putting your old things up for sale online, and your wardrobe probably has at least one or two things which you no longer wear. If there are some items that you feel you just can’t part with, there are even online platforms that allow you to rent out clothing just for the night. Remember, you are more likely to have success with a designer dress rather than a moth-eaten cardy!   

house mortgage UKSpare Bedroom   

If you have a bedroom that’s not currently being used, you could consider renting it out using a platform like Airbnb or similar service. Choose the dates that it is available, whether you are looking for a long term lodger or someone to come in on a more temporary basis. If you live in an area which makes it easier for people to commute, you are likely to find someone willing to pay for the room.

Attic/Basement

Now it’s time to clamber into your attic or basement. If you have some space around the home that you are not doing anything with, you may find that people are willing to pay for it. In town and city centres in particular, storage space is at a premium, so taking in a few extra things can net you a decent monthly income. Best of all, it is money for literally doing nothing!

CarDriveway

Take a loving look at your pride and joy parked out here. Doing some simple health check-ups on your car like changing the oil on a regular basis helps ensure it stays in good working order for longer. If there are times that your driveway is not in use, there are even sites online that allow you to rent your driveway. Again, money for doing nothing!

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The Investment Ideas Best Suited to People with Time on Their Hands

by Magical Penny on March 13, 2017

Are you thinking about trying your hand at investing? If this is something that you want to plunge a lot of your time into, you will need something that allows you to learn and do things in a hands-on kind of way. Below, you will find information on some of the best types of investment for people who have plenty of time on their hands. You should give them all your consideration before deciding which one is best for you as a beginner investor.

Are you leaving saving money to the last minuteProperty Investing

Investing in property is always a wise idea because it allows you to develop a portfolio of investment properties that all bring in regular income. You will be a landlord, and the rent that you charge will become your income. Or you could buy old homes, fix them up, and then sell them on for more than you paid for. Either of these options can be good for people who want to make money.

Finding properties that are right for you and able to make money can often be the most difficult part of the process. You can find out how from RPM Queensland. It’s all about putting your own thoughts and opinions of the property to one side and, instead, looking at things more objectively with your business cap on. If you can do that, you will soon find suitable properties.

 

Becoming a Partner in a Business

There are many ways to invest in businesses. But if you want a more hands-on kind of experience, it can be a good idea to invest in one business and to become a partner in it. Rather than being a silent investor, you will have a say in how the business is run and what directions it takes as it (hopefully) grows and expands. This can teach you a lot and make the most of your own knowledge and experience.

If you want the power that comes with being part of a team that owns a company, without having to come up with the original idea, this can be the ideal solution for you. Just be aware that there is a lot of work that goes into being an active partner in a business. So, make sure that you have enough time to dedicate to this. If you don’t, you will regret the decision later.

 

fluctuating marketSerious Stock Trading

Stock market investing is something that can be done in your spare time, or it can take up a lot more of your time if you want it to. If you want to really delve into the stock market as an investor, putting a lot of time into it can be really rewarding for you. You will learn a lot more about what stock trading is all about, and how to make it profitable for you.

You can track market trends, and buy and sell throughout the day if you want to. This is what the most serious and most successful traders on the market do, and it’s something that you can do too. You might know nothing to begin with, but that will soon change when you get into the swing of things.

 

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How Much Money Are You Really Going To Need For Your First House?

by Magical Penny on March 13, 2017

landlord insuranceIf you’re saving up for your first house, then you’re going to need more than your deposit and first mortgage payment to get going. Many people don’t realise just how much they need to pay out when moving into their first home. Let’s talk about how much you’re really going to need…

Some Of Your Major Upfront Costs Include:

Your deposit is the most obvious thing, and likely something you haven’t forgotten. It is one of the major upfront costs, and can be anything from 5%-20% of the purchase price. When you have your eye on a house, make sure you figure out how much you need to buy it.

Valuation Fees

The mortgage lender is going to need to assess the house so they know how much they are prepared to loan you. This can be a small amount, but it can also be thousands depending on the value of the property. However, depending on the type of mortgage you have you may not be charged for this.

Surveyor’s Fee

This will help you to understand whether there are any problems before you buy the place. If you choose a good surveyor, you’re going to save money in the long run. It’ll also give you an idea of things you may want to change later on down the line.

If you live in Australia and you plan on doing this yourself, you may need to get a 137b report. This can help to protect you and the things you choose to do.

houseLegal Fees

You usually need a solicitor to help you do all of the legal stuff before you buy a house. You’ll need to be prepared to pay them too; this is another thing that can cost hundreds-thousands.

Electronic Transfer Fee

Yep, you even get charged for having the money transferred from the lender to the solicitor. It isn’t a huge payment compared to everything else, but it all adds up. You may even encounter more small fees like this, so it’s always worth reading the small print and staying aware of what you’re agreeing to.

Furnishings

It’s unlikely that you’re going to move into a fully furnished house, so you’re probably going to need to buy your furnishings. Having things like a bed, sofa, and other essentials is important right from the get-go. Things like a TV may be able to wait. How much this costs will depend on your taste and how much you want to save (second hand stores anyone?).

ImportantHaving An Emergency Fund

Having an emergency fund is a good idea. Not only does this make it easier to get accepted for a mortgage, it gives you peace of mind. Having 6 months of living expenses in your bank will cover you should you lose your job, take a pay cut, or even have a real emergency. You can’t afford not to have an emergency fund when you decide to take on a responsibility like a house!

Bonus Tip For British Readers

If you are using a Help To Buy ISA, you will not have access to the Bonus payment until after you complete on your house sale, so the bonus money cannot be used as part of your deposit. However, as this article has highlighted they’ll be plenty of other things you will need money to buy after the house sale is completed so it’s a great source of extra funds.

Hopefully, you now see just how much you need to have saved up to get your first house. Good luck!

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How Can You Be Sure That Your Next Investment Is The Right Choice?

by Magical Penny on March 13, 2017

 

financial newsYou don’t need to be a genius to know how influential smart investments can be for a person’s future. Growing your personal wealth in this manner can be your ticket to financial freedom, especially in later life. Given the increased life expectancy throughout the west, the importance of investments is even greater.   

 However, investments do come with a risk. So if you’re going to take a leap of faith, it’s imperative that you make the right move. You cannot predict the future with 100% accuracy. Nonetheless, an educated guess is always better than a stab in the dark.   

 Here are some crucial factors to aid you throughout the process.

 The Budget

 First and foremost, you need to know whether investing is right for you. The harsh reality is that a lot of households simply don’t have the money. Meanwhile, many that have a little budget set aside may find that a high-interest ISA is the better option.

 Whatever happens, you must not leave yourself short. Even if your investments pay off, it may take some time before you start to see a return. This is a huge financial decision, so being honest about how much you can afford to invest is vital.   

 After all, the last thing you want to do is put yourself in a tighter position through a lack of maturity.

 The Timing

As well as personal situations, you need to think about society and trends in general. Those nationwide and global movements will inevitably cause a huge impact on your future investments. Researching different markets, spending habits, and financial influences is vital.

Timing is everything in the world of investment. This research will allow you to make far more educated decisions. While this won’t guarantee success, it should help you avoid entering the market during a slide. This will stop you from encountering short-term losses and can maximise long-term gains also.

 

riskThe Risks

 Investing is never free from risk entirely. However, some markets are far less vulnerable than others. For example, trading stocks can potentially bring huge returns quickly. On the other hand, you could lose a lot of money in next to no time also.

 Property is probably the most secure area. Even if the market takes occasional dips, the long-term curve will always point in a positive direction. Before rushing into the market, you should know the differences between buy to let and property development plans. The right pathway for you could be dictated by location, timing, and many other factors. So make sure you get it right.

 It’s important that you give yourself a chance at gaining big returns, but you don’t want to risk everything. Finding that balance is key.

 The Enjoyment

 In truth, financial motives should always be your main incentive. Nonetheless, investments can consume part of your free time for months or even years. Therefore, finding an investment opportunity that you can actively sink your teeth into is vital.

 Apart from anything else, your passion for the investment should give you the best chance of maximising your returns also. If that doesn’t put an even bigger smile on your face, nothing will.

Read more Investing articles here on Magical Penny

 

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Telltale Signs That It’s Time To Move House

by Magical Penny on March 13, 2017

house questionA home that seemed perfect a few years ago might no longer be a good fit, and there are plenty of reasons that can happen. When your home no longer suits your current needs and lifestyle, it might be time to move to greener pastures. While renovating is a possibility it’s not the answer for everyone. Perhaps your home has a ceiling price meaning any renovations won’t pay off when you come to sell. Maybe you can’t raise the upfront cash and don’t want to get into any more debt. Maybe you just don’t want to live on a building site while it’s being completed! Here are some of the reasons you might need to consider a new house

Your Family Has Grown

A growing family is one of the main reasons people look into moving house. If you’re living in a place that’s unsuitable such as an apartment with lots of stairs or somewhere with just one bedroom, then you will have to pack up your bags and move elsewhere. Maybe you want somewhere with a garden so they can play, or a home that’s close to good schools and parks? Perhaps your children are getting older and no longer want to share a room, or you all just feel like you need more space? Either way, moving to a more suitable home is likely to make everyone a lot happier. There are plenty of real estate lawyers out there who will be able to assist you with the tricky legal side of selling your home. From there, you’re free to do the exciting stuff- like finding the perfect new home!

You’ve Gone Freelance or Set Up a Home Business

More people than ever are taking the leap from employee to self-employed. Not only does it give you the potential for unlimited earnings, but you can work in your own time and have far more freedom than a traditional workplace. However, when you’re working from home, you really need your own space. An office with a desk, comfortable desk chair and good storage are essential. You might need to store stock, depending on the kind of work you do. If you don’t have the luxury of a spare bedroom to transform into your working space, moving might be the best option.

house mortgage UKThe Area Has Declined

Areas can change over time, and maybe you don’t like the way yours is headed. Nuisance neighbours might have moved in, or the crime rate could go up. You can change your own home, but you can’t do much about the area. If it’s something that bothers you, your only option would be to move. When you’re searching for properties, be sure to do plenty of research on the area too. Find out what the transport networks are like, the local amenities. There are sites where you can check out the crime rate and other important factors that need to be considered. You don’t want to move and end up in the same position again, so be sure there’s nothing you’re overlooking.

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