row house in vasco

Why Private Villas over Hotels?

 

This industry is changed due to the increased popularity of the travelers looking for nothing less than an amazing experience. Now, the everyday traveler is looking for a more private, comfortable place to stay. Earlier, 5-star accommodation was the mantel that attracted people towards their attractive lifestyle, entertainment, and overall experience. Nowadays, however, people like to maintain a more personal space during their holiday.

Villas are the only thing that can integrate 5-star comfort and natural splendor. Villas on the market today are nestled in exotic locations that draw people to it such as by the riverbank, beach villas, scenic view, etc.

Besides this, homeowners of these villas pack their space with a variety of modern amenities, such as a personal chef, villas with a private swimming pool, bar-café, and Jacuzzis, just to name a few that are aimed at giving you a relaxing and comfortable experience. You are in the lap of luxury with all comforts at your disposal.

 

These are some factors that villas score over hotels.

Total Privacy-

A villa offers an unbeatable level of privacy. You have the entire property to yourself when you book it, the swimming pool, the kitchen, the chef, the gym, etc. The villa becomes your very own home minus all the pesky neighbors and you can unwind and be yourself.

Hotels rates versus the villa rates-

There has been an increase in the total number of 5 starred and 3-starred hotels in Goa over the last few years. Many experts believe it is a very competitive market, and the large and surprising discounts in tariffs are mainly to attract travelers. However, these concessions also decrease the overall experience as hotels do need to cost-cut to meet lower tariff plans. When you compare the experience, it is much cheaper to rent a villa. Besides, it is indeed less expensive to rent a villa if you are a large group of friends. Villas are excellent properties that homeowners have well maintained with top-class interiors and ultra-modern luxuries and then rent out, to get your monies worth!

Spacious-

There is no comparison of the floor area of a tiny hotel room to the floor area of a villa. A Villa is a lot more spacious and a lot more elegant. Villas in Goa all have large living spaces, a large kitchen, spacious bathrooms, and very comfortable bedrooms. What’s more, is that you can enjoy the common areas all to yourself without having to stand in line or fight for a sunbed. Most hotels don’t even have airy rooms preventing fresh air to flow in and sometimes even sunlight, something that you won’t have to comprise in a villa.

Personalization-

Even the most splendid hotels offer a superior room on the same floor that resembles 20 other rooms. They sell one standard design and they pretty much have the same layout and features. When looking at villas the sky is the limit with some much variety in interior design, architecture, and styles. Personal Jacuzzis, pool, and even private spas and chefs make the stay a lot more delightful.  The open spaces, lawns, views, and food make the experience a whole lot relaxed and worth the money.

Villas are essentially residences that a homeowner has purchased as a second home or as an investment. The potential of rental income and the appreciating property rates is what attracts many to invest in one. Most villas in Goa are 3 and 4 bedroom villas curated towards a holiday experience. Homeowners spend plenty on keep the villas modern, filled with amenities and luxurious comforts that have attracted travelers to want to stay in it!

villa frontage

20 Ways to Maximize Rentals on Your Villa

You are likely to have a wave of excitement-and revenue if you have recently visited the world of vacation villa rentals, that means it is an exciting time to invest in a holiday villa here in Goa. In 2019, the Goa market for holiday rentals recorded revenues of above $17.5 million, up almost 3% from the previous year. By 2023, revenues could reach an estimated 19.5 million dollars. The benefits of holiday villa rentals and recurring revenues in the industry are growing for homeowners, with Airbnb alone providing more than 100,000 Goan vacation homes.

There are still guests who move from hotels to holiday rentals as well. Many report that this year bookings for independent home rentals will overtake hotels after many years of competition.

But this meteoric development is a sword with two edges. More holiday villa rental means more competition, and you can expect your villa listing to get swept by the competition whether the property is for up for an outright sale or even on the market as a holiday rental if you can’t match the amenities, offers, and experiences that holiday clients expect.

This is particularly true since online travel agencies are fast-growing and changing. The Mariott and Airbnb both published new luxury villa rental wings from their business since June 2019, which suggests that travelers are seeking private independent villas. So, how can I position my holiday villa to get an edge over the competition?

This is a list of 20 ways to earn more from your 2020 holiday rental, including strategies for guest experience improvement, how you can manage your turnover, how to market your holiday rental property, and a few strategies to help you stay on top of the market. These approaches can be added to not only positioning your property as a holiday home but also as a prominent listing for a potential sale of the property.

  1. Build confidence, trust, and transparency when describing your villa

A clear description of the listing will build a better sense of confidence with holiday goers and potential buyers for the villa. If the listing is that of a holiday keep the description precise to the property itself. What a customer reads in the listing information should be reflected in the property. This also eliminates any scope for negative reviews left by clientele and keeps their expectations matched with what they saw and read before booking the property.

 

  1. Keep updating the description

Look for reasons to update your property listing that then a set-it-and-forget-it approach. Treat it as a way to keep your client updated with how your property is growing. Some of the many times you can update a listing are

  • Improvisation of a rooms decors, such as a renovation
  • After adding new amenities
  • Luxury additions that improve comfort
  • Anything notable about the area such as a new restaurant, bar, or museum

Words such as warm and cozy in winter are much more attractive than words like sunshine and breeze in summer.

  1. Analyze what sites are working for your listing

VRBO or Airbnb? Which-if for you the best holiday listing site? The main difference between these two dominant players at a very high level is the fee structure.

VRBO lists the annual subscription fee for you or the pay-per-reservation fee of 8%. The best way to decide on the number of reservations is to create a projection report of booking based on the previous year’s data and adding a factored rate to account for growth. For homeowners who expect to rent their homes for over six weeks in the year, VRBO proposes an annual subscription. With Airbnb, owners pay for hosting their rental on the site a percentage of each reservation. This data is also very helpful if you plan to list the property for sale as potential buyers will be attracted to the rental incomes it can fetch.

  1. Photos are everything

Photo are a great way to create a fist impression. Remember that VRBO and Airbnb are flooded with property listings and to get your property to stand out in your locality is to improvise on the quality of photos. If you are missing the hardware consider hiring a professional to get the job done. To create brilliant and attractive photos, you need to develop an eye and if you can afford to hire a professional you might as well!.

Some ways to do this are here:

  • Learn to use composite lighting. This is the best way of displaying the lovely interior of a room AND the beautiful view outside the window in one picture. No colors washed out, no natural light blocks over-exposed.
  • Think about the assembly of your photos. The flow should help the potential guest to understand where the rooms connect.
  • Take a photograph of a detailed floor plan.

To maximize the visibility of the listing, use lots of pictures. Studies have shown that 80 percent of guests have more chance of learning about a home if more than 20 photos exist.

 

  1. Make it quite memorable

Finding unforgettable ways to help your guests make an unforgettable trip will also make their holiday rental unforgettable. A great experience will result in repeating reservations, predictable revenue, and excellent guest reviews. But this is easier to said than done. Asking the guests about their experience is very critical to the business giving you an opportunity to release how you can better the business.

One study by the University of Texas found that 73% more visitors are happy and excited about their journey before they start. Making your guests experience memorable from booking to checkout will improve the chances of making their experience memorable. It is essential to offer local suggestions, leave a small welcome gift, and print clear rental instructions to make guests feel comfortable.

 

  1. The calendars must be up to date

The guest experience begins long before they come to the property. Not only is it uncomfortable for guests to learn that the dates they desire are not available, but also could hamper ratings. A properly managed calendar will eliminate cancellations from your end and will also help you in staying organized

If you refuse stays on some listing sites, your rankings-and naturally your reservation rates-may be hit, when the same was earlier marked as available on the calendar. If you use VRBO, you will learn how to manage your schedule to ensure it is always up to date.

  1. Upgrade your outdoor living spaces

The holiday villa industry has known for years how important it is to integrate living indoors with the outdoors seamlessly. One TripAdvisor study found that 82 percent said the outdoor living spaces are the most important thing in deciding which house to book. Another 46% said that a private pool was the most important, 33% chose an outside grill, with 32% saying that a hot tub was the biggest deciding factor.

What does that mean if you have a holiday villa? Well, simply don’t ignore the outdoor living areas. Fireplaces, tables and chairs decks, fantastic hot tub, and courtyards are all investments that are fast paying off in the form of more high-dollar reservations.

 

  1. Maintain the outdoor living areas properly

More than often homeowners tend to overlook the outdoors as they completely focus on the interiors of the villa. Regular maintenance during down-time will reduce the likelihood of an emergency repair. A good focus on outdoor maintenance will increase the life span of the appliances, furniture, etc, thus reducing the cost of replacement.

  • Clean and store your deck furniture if not in use.
  • Lighting fixtures in the outdoors need to be attended to due to the continuous wear and tear by the weather
  • Racking and removing leaves, twigs, branches, etc. from decks and patios
  • Keep the windows crystal clear. Oil smudges and the strands are easily noticeable
  1. Put plenty of thought into interior design

As we all are aware that the interior of a villa can make or break a listing and hence it has always been the main focus. These may not be massive overhauls but improvising as you go along. A window can have a beautiful view, but it could fall flat if there are no accents to compliment it. Take the same window and imagine an elegant chair lounge, bold bookcases in the corner, and a unique light on a side table in front of it. This room’s appeal and comfort rose steeply with a few simple additions.

Interior design requires an eye for design and a perspective that will create a nice appeal. Guests don’t want a stalky, empty room, but also too many personal effects may be simply overdoing it. Local sights, local art, and traditional decorations can be included as a safe bet.

  1. Make investments in the kitchen space

Eighty-three percent of respondents in a TripAdvisor poll said their most significant cost savings were the ability to cook in their vacation rental. Increasing your home’s appeal employing a sophisticated aesthetic, modular kitchen design will add to the appeal of the vacation rental. One on hand you will help your customers keep their expenses lower during their stay and on the other hand, it will contribute to the long-term value of your household. It is easy to understand why a kitchen upgrade will reap immediate benefits.

11. Leave the detailed manual

The possibility of confusing guests with the electronic amenities provided in the villa such as TVs, sound systems, kitchen appliances, and hot tubes can occur, which can be eliminated by creating a book or binder that contains how to quickly operate them. A few examples such as

How to program thermostat and suggestions for the settings,

How to use the entry systems, the electronic locks and the doors,

Which remote controls are combined with which audio/visual functions;

 

  1. Identify luxury items

A few luxury items in the villa are definitely a way to get eyeballs to notice the listings and make it stand out. However, this must be in addition to the basic comforts. Travelers can filter down listings on most vacation travel portals which will have a huge impact on their travel experience. It is important to clearly identify these items of luxury and mention it in to describe the property listing.

 

  1. Generating the reviews and responding them

Reviews can make or break a vacation rental. It goes without saying. If you concentrate sufficiently on the guest experience, the property will generate positive feedback that will translate into more reservations and higher rates.

But without the work, that won’t be possible. You will have to check and answer reviews and queries regularly-good or wrong. Answering a negative review will allow you to address and improve the issue for the following year. It will also demonstrate your commitment to improving a guest’s experience and some case will hold its worth as compared to a response to a positive review.

  1. Create a financial plan and identify goals

Take a step forward to ensure your final goal of renting your holiday home is understood. All revenue-based decisions on the rental will be affected by what you decide.

Are you:

Using a second home only as a vehicle for investment? This could also translate as a business in the long run and ultimately you can place the villa for sale on the market along with the vacation rental model along with it. A huge attraction for potential buyers!

Want to cover the cost of owning your second home? Own a second home can be for a number of reasons. You could want to spend some time living there or perhaps even look to hold on to it and sell it after a while. Either way, holiday villas are income-generating assets that you can put to use to make you money.

15.Focus on what is adding value to determine the nightly rate

It may be difficult to identify your neighborhood’s cheapest home and match it to your property. Instead of opting for early investments in luxury and reduce your overnight rate, try to approach pricing by understanding the added value that will inherently lead to a reasonably higher nightly rate in your home.

  1. Static rates but dynamic pricing

The nightly rates of your holiday rental should never be static. There are so many factors that affect the demand of any listing and it is up to you to know what these are and to act accordingly. Some considerations are Special weekends, holidays, events in the city, supply and demand during the season and holiday season.

 

  1. Plan appropriately for the peak periods in the neighborhood

There is always a time that you would want to use the villa for your family as well however before you do, keep social and holiday events in the calendar that could leave guests disappointed in not being able to occupy the property. It would lead to a loss of revenue and losing out on the possibility of a returning customer.

Note, a large percentage of your annual revenue may add up to a few weeks in peak demand periods. For example, you’ll miss out on the peak period if you plan to stay in your vacation homes during Christmas and New Year, however, you can price it much lower during the monsoon months of June, July, and August.

  1. Study rates of similar listings and identify unique selling points

You might leave money on the table if you don’t put in the research. The price of the listing isn’t the only factor though, for which you must identify what makes the villa unique. The location, the amenities, and the outdoor space are some of the most popular aspects that determine the occupancy rate of a villa,

However, you may not even know that there are certain aspects of your home that attract guests. It could be a very private villa, it could be the terrace with a view and so much more. These selling points, which may not be apparent at first, need to be identified.

  1. Reassess data and build it

Set some time to study the performance of your home every week. This week-over-year, are you ahead of or behind your reservations? What is the relationship between last year’s pricing and your tickets?

You can compare month by month or even weeks if you do not have this data. Anything that helps you set benchmarks so that you can compare them in the future. Take note of all aspects of demand, where your guests come from, and any other relevant data points so that you can measure results in upward, downward, or stagnant bookings and profitability.

  1. Reinvest in the profits back in your home

Usually, we see around the 3-year mark as a great marker to analyze the stability of the business: owners see stable and repetitive reservations, steadily-increasing tariffs, and great reviews. The rental income now far exceeds ownership cost, so what should you do with those profits?

Reinvest! Reinvest!

 

 

 

goa villa market

10 Tips for Renovating your Villa Beautifully and Economically

Are you thinking of renovating your villa? Usually, you plan to renovate your house to make it more beautiful and comfortable. Consider the home refurbishment plan to be on line’s of a  business plan or a client project, setting yourself outright from scratch.

If you are planning to hire an interior designer for the renovation, he would prepare all the aspects for you, but the first step is to take control of the project yourself to add that personal touch and save on expenses as well. Below are a few DIY ideas about how one can refurbish a home on a budget. The key to budgetary renovation is mainly to plan the whole process efficiently. We will detail how your entire renovation plan can be divided into smaller parts based on the area and how you can efficiently renew your home. The end goal here is to create a space that suits your comforts keeping a close check on expenses as well.

 

1) Dividing You Conquer

As mentioned earlier effective planning is essential to efficient renovation. Keep in mind both the overall goal and on the smaller parts as well. If you heard the phrase, “the whole is greater than the sum of its parts,” a thought that can be used when strategizing a  home renewal plan too. If a hire a restructuring architect is on board, he will evaluate and refurbish your needs accordingly. However, if you are in charge of your ideas, creativity will be put to test to achieve the end goals for each space in the house.

 

2) Budgeting

Given that the goal is to economically renovate your home, you must decide the overall expenses/limit. While budgeting, it is important to remember that you cannot overestimate expenses, and preferably keep the budget undervalued, and then proceed to research what you need.

 

3) Adequate Research

When you begin your research, you will be surprised at how many options there are available. You can buy the beautiful lamp seen in an upmarket store at lower prices elsewhere too. While renovating on a budget, remember that you can find the majority of supplies at inexpensive prices, Take to online shopping to find furniture pieces, paint swatches, and decorations for the build. Alternatively, thrift shops and second-hand mechanical shops are excellent sources to find great deals.

 

4) First Impressions Begin With The Door

The door to the room is the first impression. Consider repainting the door if you can’t entirely change it. Keep in mind that doors may also influence the room’s lighting. Therefore if the room has plenty of dark palettes in its décor painting the door along with the trims and ceilings a lighter shade optimize the lighting in the area.

 

5) Paints and Lights Go Together

Lighting and lighting go hand-in-hand, and therefore if a new shade of paint is opted for it may have a counterintuitive effect to go with the lighting scheme. Conservative palettes in this instance are pastels and white palettes, it’ll give the house a sophisticated and contemporary look, and you pretty much can’t go wrong with it.

 

6) Small Rooms in the Villa do not have to appear to look small

With the help of strategically placing mirrors in a room, a room can be made to look larger than it actually is.  If the option is available, allow for more natural light to flow into the space as well.

 

7) Storage and Kitchens

While decorating always look for opportunities to improve the storage in the space and also the possibility to de-clutter. Storage can never be enough, but on the other hand, space is limited therefore being creative helps. You can reduce your storage problems by using your kitchen to its maximum capacity.

 

8) Ample Light through Windows

“Half the experience of living indoors is watching outdoors,” says Marc Appleton. So, if you have the option install large windows when remodeling the villa. And if you don’t have the option to consider exploring a variety of wall colors and opt for lighter colors on the windows to maximize the light coming through the windows.

 

9) Renovation of your bathroom

The number of inexpensive but high-quality products that you can buy to renovate your bathroom would surprise you. With a little research online you will see so many options if fixture replacement is on the cards. If the renovation doesnt permit major upgrades to the bathroom, smaller touches can be carried out by improving the paint, the lighting, a false ceiling, vanity mirror, improving the water pressure and also improving the cabinetry space.

 

10) Renovating the Floors

Renovating the floors can be expensive, but instead of the tiled floors that are present in most villas, you can opt for parquet floors, wooden floors, and even PVC inter-lockers that are very popular these days.

home interiors

Best Places to Stay in Goa

The diversity and the natural charm of attracting a variety of travelers and tourists is one of the best things about Goa, but it can also be hard to decide where to go and where to stay in Goa.   For each beach area and for all budgets we have put together a basic guide to the best places to stay in Goa.

Goa is more than 101 km long with tropical beaches and each beach and Goa area has a different atmosphere that attracts travelers.

There’s a place to stay in Goa to suit all budgets and types of travelers. From luxurious, glamorous resorts to basic beach huts, sociable and fun backpacker hostels, modern family-friendly hotels, luxury villas, yoga retreats, Portuguese mansions, and heritage hotels.

Where to Stay in Goa: North Goa or South Goa?

The first thing that you will have to decide is what part of Goa you want to be based at. South Goa is generally a quiet place that is less developed, and North Goa is where all the parties, markets, and where all the action is.

Luxury tourists and guests who want to relax and get away from all the noise and hustle-bustle are usually heading to South Goa’s where it is peaceful,  less crowded, and a whole lot cleaner. North Goa is more busy and popular, as the best of nightlife, markets, restaurants, and entertainment is here. In North Goa, there is a wide selection of lodging and dining options for all budgets.

The best beaches in North Goa

Baga or Calangute, with its vast range of nightlife, hotels, restaurants, and close proximity to the famous Saturday night market, make up the most popular and busiest destinations for Goa. Candolim and Sinquerim have much to offer, but they are a lot more upmarket.

The main areas that gather backpackers and hippies are Anjuna, Vagator, and Arambol. Home for the famous flea market held on Wednesday and psytrance parties is Anjuna. Arambol houses many yoga and alternative therapies, and every night during the season it features a hippy sunset market along with drum circles on the beach. The widest, quietest beaches in North Goa are Morjim, Mandrem, and Ashvem.

Goa’s pleasant, Portuguese influenced capital is Panjim (Panaji) situated in the center of the Goa. You won’t want to go there only for the beach, but you can spend some time exploring the old Portuguese quarters, exploring Old Goa and its temples, spice plantations or the wildlife reservoirs found in Central Goa

The Best Beaches in South Goa

Goa’s most uncluttered, almost empty beaches can be found in South Goa. The Arrosim-Cavelossim area is mainly a luxury village filled with numerous starred resorts, but Colva and Benaulim are busier and a lot more affordable. Palolem is probably the most beautiful of the many beaches in Goa featuring many colorful basic beach huts for the budget travelers, along with the neighboring beaches of Patem and Agonda.

The Best Places to Stay in Goa – for all budgets

So now, you have a better idea of where to stay in Goa, all the recommendations on the best places to stay in Goa are here. The prices vary significantly according to the season, you can check the dates online.

You can find basic and cheap accommodation from 500 rupees if you’re on a tight budget but most of these can’t yet be booked online –you will have to show up and wander around. This is not a good idea in peak season though when prices are rising and nearly everything is packed.

If you are planning a long stay, check-in for the first few days in a hotel and then explore the surrounding area and find  ‘house to rent’ signs which are posted almost everywhere along the residential stretch of the beach belt.

Best Places to Stay in North Goa

Best Places to Stay in Baga, Calangute, Candolim and Sinquerim.

The most famous and busiest beaches of Goa are the beaches of Baga, Candolim, and Sinquerim. The beaches are wide, golden sandy with numerous beach shacks and sunbeds, the water is good to swim and there are many watersports to enjoy. Calangute is known as “the Queen of Beaches.”

The resorts blend together and offer a wide variety of stay options, for every kind and budget, beach shacks and restaurants serving food from around the world, live music bars and nightclubs (including the famous Titos Lane in Baga) and near a lively Saturday night market in Arpora. The resorts offer you the best choice of everything.

Candolim and Sinquerim are much more upmarket and less crowded then Baga and Calangute with starred hotels, luxury villa, resorts, restaurants, and shops.

Best Places to Stay in South Goa

South Goa is probably home to some of the most serene beaches in Goa, as the busy, more famous beaches in the north are much quieter and cleaner. South Goa beaches are full of empty spaces of sand, stunning and peaceful resorts, and happy yoga retreats instead of the endless night-long beach parties.

Best places to stay in Arossim, Utorda, Majorda, Betalbatim

Arossim and Cansaulim, Utorda, Majorda, and Betalbatim are the ideal places to relax, hit the beach, read a book and just take it easy for a few days, or alternatively check-in into some the best luxury resorts offering numerous luxury comforts.

old house for sale

How to know a house is right for you

It is quite reasonable to be careful whenever you shop for a home. Most importantly, investing in a house is a huge investment, and you would like to be sure that you have taken a proper decision of buying a house. How can one tell that the selected a villa is just right for you? Many people do have gut instincts others need to be convinced. Here are indicators to guide you on whether you have selected the right property.

 

  1. Your reaction on arrival to the house

Part of the thrill of searching homes is that you don’t know which new home can be your new home. You arrive at the street locating the particular villa that is on the market. Which of the places strike your fancy? It could be a sign of why a particular villa appeals to you and why others don’t that could be a sign. There is always something about first impressions, go with what appeals to you.

 

  1. When the home embraces you the moment you walk in

Three seconds in and you will know if you feel warm and comforting. If would seem as if it is talking to you.  Would you like to explore it? Feels like home? If so, then probably it is.

 

  1. You do not feel fun in the bathroom

Sometimes buyers often feel incredibly uncomfortable around the bathroom area opting to stand outside, lean from the frame of the door, and poke their heads in for a minute. On the other hand, it could be a home of your liking  if you go into the bathroom and are wooed by its layout, natural light, and its ‘coziness’ factor

  1. You always feel defensive about the new house

Your agent might point out the flaw or a two or five and say, ‘ The kitchen sink is stained ‘ or, ‘ I would update this and this. ‘ It might be an indication that if you discover yourself being defensive about all the visible flaws it could just be that you won’t be willing to be living in after remedying all the flaws.

  1. You start to envision the furniture arrangement

It just might be your house if you happen to walk in the master bedroom and then immediately visualize the bed against the particular wall or a layout for a kitchen you always desired.  It is very likely that you are hooked if you find yourself thinking that the living room window is the best place for Christmas tree decorations.

  1. See if the property meets the basic needs

The property may not be included in your desired list, but it satisfies your space requirements. The number of rooms and its sizes perhaps is a large enough space for your family’s needs. Perhaps it doesn’t have a garage, but it is not essential to buy a house with a garage. You know if it turns out right, you can build a garage. A sudden drive for flexibility is a good sign that you’re right.

 

7. You choose not to look out for more houses

You no longer find house hunting appealing. You compare every new property you visit to a particular one, and thus not meeting your expectations. Your ratings for homes that were on the top of your list have begun to drop as they just happen to be pale in comparison to a particular one.

  1. You cannot brag more about it

Have you snapped several photos of your possible new house and posted them on social media? Have you told your friends about the possibility of owning a (this) new house? If you feel excited after visiting a listing that is on the market for the first time, then you might have found the right home for you.

  1. You have planned to go back

If you have already spoken to your family members and have planned your next visit to the property right before leaving the driveway, then it is likely that the property for you. You want to see it at another time of the day or the next time you bring your mother or best friend along. Ask your agent to send information to the seller to make sure it is in good condition. Probably you should also begin talking about offers because ‘your’ house has apparently been found.

Never overlook the basics

Be realistic about taking actionable steps on purchasing a home that you fancy. Before put out an offer check out the schools in the nearby vicinity if you have children and see how long you will have to travel to work.  But don’t ‘sleep on it’  as there may be other offers on a particular listing. You could discuss with the realtor on the intent of moving ahead with the sale so as to get the ball rolling. Working on budgeting for it and also finances could take some time and could cause delays as well.

patio

Investing in a villa or an apartment? The better choice

It is an excellent time to invest in real estate in Goa. From vacant plots to apartments, to row houses to luxury villas there are plenty of options to choose from. It does some a bit of skill and research on your part to find the fit for you.  Although some want apartments, others prefer self-catering homes. Real estate developers have today provided their customers with plenty of options each catering to a specific type of clientele and price range. Commonly the biggest choice a buyer has to make is between an apartment and a villa, especially when either fits in the buyer’s price range. Although each does have their own pros and cons, however, a lot depends on personal preferences as well.

The Amenities

Added values amenities such as security staff, sufficient car parking space, back-up power supply, water systems, fire alarms, and surveillance systems form a part of a medium to luxury apartment project.

An independent villa would require an additional budget to implement these amenities. A rough estimate would be 2-3% of the total value of the property which would be an average spend to have these facilities included in an independent villa. Additionally, upgrades to the property in the form of an inverter system, a back-up generator, or even a pressure pump to all bathrooms will slightly increase the cost as well.

If there is a colony of these villas, the residents can form a resident welfare association (RWA) if the villa property forms a part of the same settlement. Then the RWA will divide the expenses that are common to all residents such as having 24- hour security personnel, maintenance staff, etc. On the other hand, in an apartment complex, the developer provides all of these facilities for the first 2 to 3 years by collecting an advance from the buyers of the property. Subsequently, RWA takes over the management of services.

Cost of Maintenance

Maintenance costs on gated villa communities are a lot higher than on apartment complexes simply due to the fact that the cost is shared by a large number of homeowners in a high rise as compared to the number in a gated villa scheme. Thus the cost an independent homeowner would have to shell out is almost 1.5 more than what an apartment homeowner would.

Purpose of Investment

In Goa, a majority of investments made into apartments and villas as second homes meant to be let out as serviced homes for holiday goers. In a number of societies, there are restrictions that prevent apartments in a complex to be rented out as daily rentals. Villas on the other hand are independent structures that are gated and thus do not have these limitations.

Appreciation Value

Appreciation value for both apartments and independent villas go hand-in-hand however, the scope for achieving a better rate of return on a villa that rests on an individual plot of land remains a lot more attractive to potential buyers. The selling prices for an apartment in a complex are more or less the same however for independent villas the prices vary significantly even in the same locality.

Room for expansion

Villas on independent plots can be expanded in the future adding to the value of the property. Outhouses, covered parks, and extensions to the existing structure are common upgrades that can be carried out. In an apartment, on the other hand, there is no scope for any external modifications, and all the upgrades or remodeling is restricted to the four walls.

Independent Ownership

The ownership of the land and villa is solely the homeowner for a villa home. In the case of an apartment, the ownership of the land is divided amongst others in the complex.

Freehand in Modifications

Independent homeowners are free from any restrictions when it comes to making any changes to their residence. They have a complete freehand in deciding any changes to the façade, the landscaping, or even within the structure. In an apartment complex, there are several restrictions laid in place by the homeowners association that restrict or limit these modifications.

Privacy & Spacious

An independent villa is your very own sanctuary that separates your living space from the rest. Privacy is one of the biggest factors that influences a buying decision. Even more so when a buyer is looking for a holiday home space to just unwind and relax and be away from the crowds.

 

 

beach lawns

Things to consider when you plan to Purchase a Beach House

 

It is always an exciting feeling of owning a beachfront property in Goa! After all, that is what Goa is famous for. Fortunately, when scouting to buy a seafront property, there are quite a few coastal towns and beaches to choose from. Although selecting a right beach house isn’t a daunting task but finding the right one can take a little searching and hunting. Before commencing your search, ensure that a ball-park budget is defined along and space requirements are well understood along with a comprehensive understanding of the financial and the weather-related risks as well. Engage a professional Realtor who has extensive experience in the purchase and sale of real estate which will make things a whole lot easier.

 

As you start your hunt with of beach house, see to that you consider the below things in your house buying process:

 

  1. Foundation and Construction

If the hurricanes regularly frequent the beach town or not is a top priority to ensure that the coastal home is as weather-proof as possible. Otherwise, because of bad weather, all the hard-earned investment might get destroyed. When the area seems to have any high flood risk or plenty of potential for storms, a beach house built on stilts is a great choice. Another structural factor is the villa being wind and flood resistance build with sufficiently strong materials, to withstand high temperatures and heavy rain. Concrete and naturally durable wood are some of the best building materials for coastal homes.

 

  1. The HOA Fees or Property management

If your main residence is not the beach house, you might need a kind of property management service to look after the house while you are away. Typically these services include pest control, landscaping, maintenance, and general upkeep. The HOA may take care of such needs when the beach house is situated in the HOA community. Fees can be expensive for these services and should be taken into account in the beach house budget.

 3. Roof

Never forget to consider the ceiling when you buy a beach villa. The last you want is to buy a home only later on to find out that the roof must be replaced. Due to the harsh weather conditions in most coastal regions, roofs of beach houses will certainly wear more than the average home. It is best to purchase a beach house with a new roof built with durable weather-proof materials. A rooftop replacement can cost around 25,000 dollars.

 

4. Proximity to the Shoreline

Many consider the proximity to the water as the main factor when planning to buy a beach house. Living by beautiful shores does have its pros and cons, something that needs to be weighed-in before committing to a breach-front home. For instance, while living near the water is undoubtedly practical, and has excellent value for resale, the risks to flooding and insurance rates will certainly also increase. However, if the structure is built with the high-grade building materials and the homeowner can afford possible repairs, it may be worth additional maintenance to live close to the water.

 

5. Durability of Windows

Windows of the house should be an essential consideration when purchasing a beach villa. Durable windows will protect your investment against potential wind damage and wind-borne debris in a severe storm and hurricane. If you plan to buy a beach house that does not have sturdy windows, we strongly recommend that you install them soon after moving in. They protect your house and even reduce your insurance costs, enhance the energy efficiency of your home, and reduce the noise level in the home.

 

6. Outdoor Living Area

One of the reasons for buying the beach house is to enjoy the fantastic outdoors. The living spaces external to the house must be considered as well. Do you have the porch or a patio? How about a view of the sea? Is it quiet or crowded? It would be nice if the beach house has leisure areas where the family could just relax or unwind or even a swimming pool. Whatever aspects are considered important to you must reflect in your potential purchase to keep make your stay comfortable.

 

7. Risk of Floods

In addition to wind damage, damage can be caused by hurricanes and storms can lead to flooding.  For this reason, before you buy a beach house, also consider the potential of a flood risk to the house. Inspect the structure to understand whether it was constructed with flood-resistant materials. Do a bit of research to understand whether the house is situated in a high-risk flood zone. Even if the coastal home is not situated in a high-risk flood area, flood insurance may still be required. Also, consider whether the house is on an uphill slope or slightly high path to prevent floods in heavy rain.

8. Rental Income

The possibility of renting the beach home will make it a lucrative investment as it can generate a steady flow of income. After considering the maintenance, monthly expenses, and bills and the income from the rentals, the beach villa can independently take care of itself. If the plan is to rent out the villa for most of the year the villa also needs to be fully furnished with all modern amenities. There also could be the need to have a caretaker at the property to manage guests. Look up rental rates in the area to get an idea of the average rentals and accordingly budget for expenses.

 

9. Insurance rates

It is always advised to opt for home insurance that covers flood and burglary insurance especially at a property that will not be your primary residence. A comparison of rates should be done online before you make this purchase, the rates do differ drastically amongst different companies.

 

10. Neighbors

It is always beneficial having nice neighbors as the last thing you want is to buy a home near a frat house. A bit of research on the area will give you an understanding of what the area looks like.

 

Get Ready to move to the beach house of your dreams!

So you have found your dream beach house and are prepared to move. That’s Great. All the best and also happy about moving!

 

entrace of house candolim

The Dos and Don’ts of Renting the Villa

 

You may be surprised to see how easy it is to search, book, and take a break if you a very private vacation in a private in the sun. Something that has appealed to many real estate investors to own a villa and then list it as a vacation listing. Goa’s villa market is strongly pursued because of its swift return on investment with rental incomes.

 

A Vacation Property That is For Everyone

You do not have to be a celebrity as well as loaded with the cash to rent a  holiday villa home vacation. You can look for a property that suits your needs and there is a huge supply of villa types all across Goa.

Whether you want a private getaway with your friend or are looking for a big family or friends, you will able to find one based on your preferences. Families love villa vacations in particular as hotel rules and times do not bound children.

Weigh up all the pros and cons

You can forget about the luxury of endless all-inclusive buffets, with wait staff to attend to your requests. And you’re not going to get organized entertainment, children’s clubs, and a daily maid.

But for the duration of your stay, you are going to gain a place that is your own. No guests to struggle with sun loungers, a private pool all to yourself with the comfort of deciding when to eat, drink, sleep, party, and the ability to truly kick back and enjoy life with all the luxuries of a typical home.

Do not forget to check what all things are included

Essentially, for the duration you rent it, you get the use of a home. It usually comes with bedding and towels, a cuisine, a private or shared swimming pool, and all amenities that the house has. Many of them are also welcomed with some basic groceries stocked in the kitchen.

However, if you want cleaning or a maid service or to know if there is a refundable deposit to be left on arrival or for any other information that you need, read all the terms and conditions of the rental.

Do the research properly

How does this happen? Get online, and this is so simple. Although there is still a market to buy magazines and brochures, you can view the properties on the website in real detail.

The main villa specialists offer a range of properties, and you can search the numbers of bedrooms, prices, and even filters to select the perfect holiday villa for your party by having their sea views, private pools, and other facilities. Don’t worry too much about the villa size–you want your break and don’t want to be packed in a small house to reduce the cost.

Also, read reviews and contact the rental company for advice if you want specific questions on your property. If you haven’t heard of the company, read reviews online to make sure your reservation is valid. You can also talk to the villa owner or post an email to the site owner with all your queries.

Do not ruin the trip by getting the wrong details 

It is always advised to know of the exact location of the property and also how to get there when you arrive. If you’re not in a resort, you probably need a rental car to make the most of your stay. Lastly, you are in a fabulous house that doesn’t have easy access to restaurants, shops, or the beach therefore you must be mobile and well aware of how to get things done by yourself. Transfer time from your airport should also be taken into account.

Consider your flight schedules and arrival time and be aware of what the check-in / check-out times are. Don’t come too late or early as you either get lost in the dark or wait hours to check-in.

And, like on every vacation, from the day you book, take a decent travel insurance policy.

Do not ruin your vacations by forgetting anything important

Once you’ve booked your reservation, make a list of all the things you need to get ready. Get together all your paperwork from boarding passes to driving licenses, where to collect keys, and how you pay your deposit. Importantly, ensure that you have information about who to contact or in an emergency.

 

goa villa market

Invest in an apartment or a villa?

 

With a variety of options in property types now available on the market, a buyer’s dilemma is always between a choice of either investing in a villa scheme or in an apartment, considering that many properties could be priced in a similar price range. It is not uncommon for this to happen as in many case apartments with a sea-view for instance would be more-or-less priced equivalent to that of a row house project towards the hinterlands.

 

Question 1: What’s more expensive, an apartment or a villa?

Price is the most important factor driving a decision on a property. In many case price points fall in favor of purchasing an apartment, when pegged versus a villa. No matter how expensive a villa, it would generally be compared to the price of an apartment. Even if the apartment lies in a luxury category, it is no secret that prices are always compared between these two categories. Villas score over apartments when maintenance costs are concerned; they undoubtedly incur a higher maintenance cost. In the case of an independent house or villa, this can be quite steep and is recurring, because it does involve not only regular daily upkeep but also for the garden and common areas.

Apartments are the more convenient option in this regard as the builder/building representatives pool together a quarterly/maintenance fee to cover everyday management.

 

Question 2: City apartments or villas in the outskirts?

Location is also driving the decision and is considered on par as a pricing factor. Generally, it is the proximity to everyday life such as offices, schools, hospitals, and the center of the city that influences this factor.

Developers often float villa projects in the suburbs of the city whereas apartment projects are found commonly within city limits.

This also is dependent on whether the purchase is a second home or a primary residence. If it is a second home, many buyers prefer it to be in a location that they can relax and unwind. Open spaces and privacy are more valued in this case. A villa project that is gated and well-maintained offering amenities such as a clubhouse and a swimming pool will fir the bill.

 

Question 3: Will there a decent return on investment in the future?

Properties are bought as an investment, whether it is a primary residence or a second home. Keeping this in mind have a good understanding of the potential increase in prices taking a ten-year time horizon is essential. Upcoming areas when the population is medium and where commercial activities are just about sprouting are excellent localities to invest. The coastal cluster of North Goa is a typical example. Areas such as Arambol, Anjuna, Ashwen, and Morjim are up-coming areas as compared to Candolim and Calangute where prices are not only high but also there is very limited for a decent ROI when property values have reached their peak.  Villas have outshined apartments in terms of its value in many parts of Goa mainly due to the need for properties that are independent are on the rise. Buyers are looking to stay away from the hustle and bustle of everyday life and are opting for villa schemes.

 

Question 4: Customizing and upgrades

When it comes to improvising the comforts with upgrades and modifications, villas give a homeowner all the freedom to do so. Independent villas can be modified to suit an individual’s tastes and styles and convert the space to exactly match one’s likes and preferences. This degree of freedom not found in an apartment will remain pretty much the same as is purchased. Expansion and reconstruction isn’t a possibility which the very opposite in a villa.

Villas and apartments have a fair share of pros and cons and as a buyer, it can turn out to be very difficult to decide.  Apartments are more suited when the residence is that of a primary one. Villas are looked at more of a get-away space, an investment that can bring about a recurring rental income as well.

 

 

 

 

old house for sale

A typical timeline for purchasing a villa

What is a typical timeline that a buyer experiences when purchasing a villa? So much depends on the amount of time a buyer would spend scouting shopping for one. Whenever you have a contract, it usually takes 50 days or less to close on a house.

There are numerous steps involved in purchasing a house, and any of them could stretch out this timeline, especially in case you are not yet prepared. Her is a typical home-purchasing timeline, that you can be used as a guide.

  1. Doing the homework

It is one thing of dreaming of owning a house, and the other of making it a reality. A lot of time and effort can be saved when proper research on listings available on the market to help you figure out what your preferences are and what is it that you looking for in a villa — together with how much you can afford.

It can be common to simply fall in love with a house to find out you can’t afford it. You can mad do without this heartbreak by quickly chatting with your bank–called pre-qualifying. An indication of how much you can afford. A typical house-hunt usually takes a good 14-21 days on an average.

2.Finding the right Agent

Finding a suitable agent is essential for the purchase process. You must have a trustworthy consultant in your corner. Preferably a realtor that is well aware of the desired community having intimate knowledge of it. A realtor that is well versed with the community can bring about better deals to the table. Consider roughly about 7-9 days to zero-in on one.

  1. Getting Pre-Approved Loan

You are a serious buyer when you have a pre-approved loan readied by the bank. Most agents recommend that you have a pre-approval in hand before making an offer and that they can offer lenders recommendations. However, pre-approval goes a lot further than pre-qualification. There is plenty of paperwork that goes into it. Have all your documents organized and processed by the bank ahead of time. A typical timeline for this process usually would take 15-15 days.

  1. Shop

This is where an average timeline can stretch from as low as a few days to a few months. Numerous variables can contribute to it. It might take longer than you expect or you just might discover “The One” on the very first day of house viewing. It all depends on what is available on the market. However, a typical buyer looks at an average of ten homes for about 10 to 12 weeks.

  1. Making an Offer, Negotiating and Signing a Contract

Work on the price, contingencies, and other terms of the deal with your real estate agent. A few things to help make it proceed smoothly: Include your lender’s pre-approval letter and put down earnest cash amount which is usually 3% to 4% of the sale price. If you receive a counteroffer, get to address it as soon as possible. Do give the buyer a chance to entertain other offers.

  1. Get Approval for the Final Mortgage 

Getting your mortgage pre-approved doesn’t mean that you qualify to get a loan on your contractual home automatically. When the house is chosen, the lender has a few other requirements, such as a survey and assessment. And they would like to see a more up-to-date record of your financial documents. At this point, these steps in the home buying timeline often overlap and you may have to revisit a few things that you had previously addressed in the timeline. Consider an average time of where between a few days to 4 weeks.

  1. Get the Home Inspection done

Contact an inspector to get on to their books when your contract is accepted. It takes two or three hours for the inspection to complete,  however, you will have to work with the home inspectors schedule to schedule the survey.

You can, however, quickly receive the report. Many inspectors take photos and complete the report as they go, and send it within hours of completion to your inbox. If they are backed up though, it may take up to several days.

If there are problems with the inspection report, some delays may result. It can range from one or two days to renegotiation or longer, if, for instance, you have an FHA loan requiring specific security standards.

  1. Get the Home Appraised

The evaluation is essential to obtain a home loan. You may have to put down a larger initial payment or renegotiate the contract if the home fails to appraise to the mortgage amount. Therefore, once you have a house under contract, you want to line-up an evaluator quickly. And unlike the home inspection, this report goes directly to the lender and takes longer because the evaluator must further research into what other houses are being sold in the area. This report takes around 8-10 days.

  1. Get Title Insurance

Your mortgage company would conduct the title inspection, which means they will examine deeds and title related documents in order to make sure that the property has a clear title and liens and former claims.

  1. Get Homeowners Insurance

Your insurance company will send someone to evaluate the potential risks of the property that could take several days. Other coverages, such as flood insurance, could be needed by your mortgagers. A process that typically will take 2 weeks

  1. Closing Funds Arrangements

Your agent will inform you if you would need to present a cashier cheque, a certified cheque or to initiate a digital fund transfer. This process takes place when signatures have been put to the paperwork and you are ready to take ownership. The timeline line for this typically lasts for around 4-5 days.

  1. Conduct the Final Walk-Through

This is the best opportunity to ensure that the seller has carried out all the agreed repairs and has vacated the property as well and has left the property in good condition.

 

It takes the average home buyer approximately six weeks, involving a loan, inspection, evaluation, title, insurance, etc. to close on a house.