Archive for the ‘property delhi NCR’ Category
Buying real estate in Panama is a great investment and smart choice for savvy buyers. The land in Panama encompasses an amazing selection of choices ranging from land along the Pacific coast to wooded property in the interior to the sultry real estate along the Caribbean coast.
Panama is a tropical paradise that offers a wealth of amenities such as low crime rates, low population density, friendly natives, and very low pollution. Best of all Panama land is affordable especially when compared with other countries in the Caribbean or along the Pacific coast. The great climate found in Panama is a prime attraction to many who are interested in buying real estate in the country. The country has two main seasons. Verano is the dry season that occurs in the summer period from January to May. Invierno is the rainy winter season that extends from May to December.
The land in Panama encompasses the mountainous terrain in the interior of the country. This provides opportunities to purchase Panama land that offers cool breezes that are common in the highland areas. If tropical breezes along the coast are what you desire, Panama has a vast selection of beachfront property along the Pacific and Caribbean coasts. Land surrounding and adjacent to the numerous lakes in Panama provide opportunities for purchasing homes and developing home sites.
One of the great aspects of buying land in Panama is the 20-year property tax exemption for foreigners and nationals who purchase real estate in Panama. This law was created to encourage investment and development in Panama. However, this exemption is scheduled to expire at the end of 2009.
Since Panama uses the U.S. Dollar as its currency, this provides much more stability with the currency and exchange rates. The infrastructure in Panama is good and all services found in other developed countries can be found here. Internet access, cell phone coverage, cable TV service, and other utilities are available in most parts of the country. In Panama City, all the expected infrastructure and services are found in abundance.
Buying land in Panama is especially attractive for retirees because of the many discounts and special incentives offered to both nationals and foreigners. These incentives range from discounts on utility bills, airline tickets, loans, medicine, professional and technical services, and admission to movie theaters, sporting events, and other cultural activities.
The natural beauty of Panama land is a main attraction for those coming to Panama. The variety of outdoor activities that are offered enhances the natural beauty. Deep sea fishing off of both coasts of the country is a world-class attraction. Surfing, wild-water rafting, kayaking, and snorkeling are other activities that are available in the waters within Panama and along its coasts. In addition to the Panama land that is available for sale, the country has preserved a great deal of its lands in the many national parks in the country. There are several wildlife preserves and refuges in Panama. By ensuring that the flora and fauna of the country is protected in its national parks, this greatly enhances the value of the real estate land that is available in Panama.
We have several balance sheet accounts. We have assets, cash, receivables – rent that’s not been paid but is due – supplies, pre-paid rent, the value of your building less accumulated depreciation, and then you have equipment. There are some other accounts that in theory you could put in here, but it’s really not required.
Liability Accounts
Then we have what are called liability accounts. These are your accounts payable. These include salaries payable, taxes payable – real estate or even income taxes. If you have a mortgage on your property, mortgage payments, you would set it up as a liability.
Equity
The third compartment of all balance sheets is your equity. Your owner’s equity and the amount maybe you’ve taken out of your business.
These are a basic, fundamental set of chart of accounts that you can take and can incorporate into your balance sheet. Things like Quicken and most of these software packages will have these chart of accounts pre-populated. You don’t even have to worry about it.
A lot of times they have too much. You can start to delete some of them out, because it gets kind of confusing. In particular if you only have a few properties you want to keep it relatively simple.
Statement Accounts
The next are the income statement accounts. We talk about revenue accounts. These are obviously rent. There are late fees, application fees, and potentially interest. If you have a security deposit, then there might be some interest there, and then other. There are potentially other ways that you can earn. You might do some assignment fees and things like that. Those are our basic set of revenue accounts for most landlords to be sufficient.
On the expense side, this is the basic set that we use. There are administrative fees, bank fees, supply expenses, salary expenses, payroll taxes and fees, and things of that nature. Taxes – if you have unemployment or worker’s comp you have to file those taxes. There are rent expenses. Maintenance and repairs are going to be a big one for your buildings. If you have a property manager you would have a management fee.
Insurance
Insurance is definitely another big one. You would obviously have insurance or interest expense. You’re going to have marketing costs. You’re going to have an office, so there are office supplies, equipment, computers, a fax, and things like that. These are all expenses.
A kit home is a quality, partially assembled home that is delivered to the building site. A kit home differs from a mobile home, and the kit usually includes pre-framed walls, roof, windows, doors, siding and all the needed lumber, so it can be assembled on site very similar to a Lego toy.
Small kit homes can be the choice of those who have experience in DIY jobs. It may be also an option to those who want to build their homes themselves or with the help of friends. This way, the cost of labor will be significantly lower.
There are also other benefits: for example shipping costs are reduced, as small kits need fewer deliveries. The decisions you have to make when building a home are much easier, as there are a number of well-defined options. Building time can be reduced with a good crew, and also there is need for fewer people, so you don’t have to worry about managing the site. Costs are highly predictable with kit homes: with this type of construction, there are no “on the fly” decisions, as making changes to the original plan is more difficult.
Building a packaged home can be also challenging: every kit home has issues to correct, so don’t expect everything will be working like it is described in the manual. And, after all, you must build a home, which is not an easy thing to do. People tend to underestimate the amount of work needed for the completion of a kit home, so they often hire less labor than needed.
There are some practical advices for those who want to build a kit home: keep your home plan and size as small and simple as possible, especially when it comes to foundation and the roof. You should be using a plan that the kit home company has sold before to avoid surprises. Don’t over-extend your budget, and prepare in time for the building process: this way you can stay in control much easily. And you must prepare for the time when you will need the kit company’s advice, so make sure they have a good customer service.