IPN March 2015

island Property News

March 2016 • FREE www.ipn.bm

Buying your piece of the rock

Buying

HOT Properties

Property Tips and advice from our Realtors

How to To paint or not to paint?

It’s all in the details

Home What to look for when buying a house

island Property News

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Realtors:

Contents

Owning your Piece of the Rock

Cranfields Property. . . . . . . Pg 3

hat to look for when buying a house - Don’t be W surprised after you buy – a few tips to pay attention to when looking at a property for sale

Crisson & Co.. . . . . . . . . . . Pg 3 Related Services: Bermuda Security Group. . Pg 15

11 Steps to Property Success

BS&R Group. . . . . . . . . . . Pg 11

From Cesa Edwards of Bermuda Longtail Real Estate

Lindo’s. . . . . . . . . . . . . . . Pg 16

What to Think About After you Move In

Listed Realtors. . . . . . . . . . Pg 3

A quick checklist of things you may need

People on the Move . . . . . . Pg 5

to do after the move

HOT Properties. . . . . . . . . Pg 4-5 Rentals. . . . . . . . . . . . . Pg 13-14

To Sell of Buy First?

From Margaret Young of Rego Sotheby’s

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Island Property News Suite 1108, 48 Par-la-Ville Rd, Hamilton HM 11, Bermuda Contact: Jennifer Ward

Easy Checklist when Purchasing Your Home From Kim Sheen of Kim Sheen Properties

Is a House Right for You?

Picking out a new home can be terrifying but how do you

Tel: (441) 236-2025 Cell: (441) 335-0071 Email: advertise@ipn.bm

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pick the right house for you?

To Paint or Not to Paint............. By BS&R Group

Publisher: Jennifer Ward Circulation: 5,000 Printed by: Island Press Ltd.

We all know, when decorating, the beauty is

Space Deadline: 18th of the month of publication Artwork Deadline: 20th of the month of publication

www.ipn.bm

all in the details

Can you Afford It?

The ins and outs of buying a house

Buying a Property - The Purchase Process

From Sharon Cranfield of Cranfields Property

Brief Guide

The Non Bermudian’s to buying Property In Bermuda by Sharon Cranfield of Cranfields Property Ltd. A Non Bermudian can purchase property in Bermuda subject to certain restrictions.

To qualify, a house must have an ARV (Annual Rental Value) of over $153,000 and a condominium an ARV over $32,400. Once the buyer enters into a contract to purchase a property they will be required to submit an application through their attorney for a “License to Acquire” to the Bermuda Government along with a consideration fee of $1,416.

Currently the cost of the “License to Acquire” is 6% of the purchase price for a condominium, 8 % of the purchase price for a House and 6.5% for properties that are part of a Tourism Development.

After 31 March 2017 the license fees are due to increase to 8% on a condominium and 12.5% on a house.

As per the Bermuda Immigration and Protection Act 2007 a Non Bermudian may not buy vacant land or commercial property. Non Bermudian owners of property may be granted permission to rent their property by the Immigration Department of the Bermuda Government. Permission rarely extends to periods of more than a year and incurs a 7.25 % tax on that rental income.

If you are considering purchasing a home in Bermuda then any of IPN’s Real Estate Agents would be of great assistance to help navigate the process and suggest suitable properties for consideration.

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ISLAND PROPERTY NEWS

2 Island Property News • March 2016 • www.ipn.bm

North Shore Views

3 bedroom Family home with an income producing 2 bedroom apartment on ground level.

Located on a little lane off of Princess Estate, North Shore, Pembroke - this very well-cared for property is ready for you to move into.

The main house features generous size rooms - Entering from the lovely front porch through the front door into living room with fireplace, formal dining room, kitchen with breakfast area as well as its own entrance to the driveway, 3 bedrooms and a full bathroom.

The lower apartment was recently refurbished and features kitchen, 2 bedrooms, 1 full bathroom, living room and dining room. The apartment has direct access to the garden and the parking area.

A remarkably quiet spot with stunning views of the channel, Dockyard and St. George. The large verandah was thoughtfully constructed with shade from the afternoon sun for those pleasant summer evenings !

Lot size: 0.122 acres.

New Price: $735,000 Contact 295-0825 for more details.

6 Dundonald Street West, Hamilton, Bermuda Tel: 441 295 0826 • www.crissonrealestate.com

REAL ESTATE • SURVEYING

IPN Listed ReALTORs

Become one of our listed realtors in print and on online at www.ipn.bm - email advertise@ipn.bm for information

Bermuda Longtail Real Estate Ltd.

McInnis & Associates Ltd

P.O. Box SN 184, Southampton SN BX T. 232-2769 • C. 535-2769 E. cesa@bermudalongtail.com www.bermudalongtailrealestate.com

Suite 706, 48 Par-La-Ville Road, Hamilton HM11 Heather-Agent - T. 737 5753 Larry-Appraisals - T 704 0454 E. info@mcinnisandassociates.com

Crisson & Company Ltd.

Moongate realty

6 Dundonald St. W, Hamilton T. 295-0826 • F. 295-3221 E. crissonco@crissonrealestate.com www.crissonrealestate.com

P.O. Box 594, Warwick WK BX T. 232-2387 • C. 735-2386 E. ascott@moongatebda.com www.moongatebda.com

Fiduciary Realty

Moura & Associates

20 Tee Street, Devonshire DV 03 Heather T. 705-9538 Lea T. 505-0675 F. 232-2989 E. mail@fiduciaryrealty.com www.fiduciaryrealty.com

JBM Realty & Associates 4 Fort Hill, Devonshire DV 02 T. 234-2050 • C. 331-5532 E. info@jbmrealtyandassociates.com www.jbmrealtyandassociates.com

Real Estate Services Limited, 9 Berry Hill Rd, Paget DV 03 T. 236-0737 • F. 236-0413 E. info@mouraandassociates.com www.mouraandassociates.com

The Property Group Ltd. “Nautilus House”, 82 South Road, Warwick WK 08 T. 234-6900 • F. 234-6892 E. info@property-group.com www.property-group.com

BECOME A LISTED REALTOR By securing a listing in the Publication you will also be listed on our website!

WWW.IPN.BM GIVES YOU ACCESS TO POST AS MANY PROPERTIES & RENTAL LISTINGS AS YOU LIKE! The IPN website showcases exciting editorial features found in the printed book and is a resource for buyers and renters to find your properties.

IN PRINT

• Listed on the Realtor Listing Page • 2 FREE Rentals per month

(to be submitted by the 20th of the Month prior to issue)

• Ability to participate with editorial features • Ability to submit 1 “People on the Move” Editorial per month showcasing new hires

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ONLINE • Listing in the Realtor Section • Access to your own unique portal with login so that you can post unlimited Properties as and when you wish (Sales, Commercial, Short Term Rentals and Rentals) • Ability to boost selected properties featured on our home page at a reduced rate • Ability to purchase banner advertising at a reduced rate

BECOME A LISTED REALTOR ON WWW.IPN.BM & ON THIS PAGE 6 MONTHS $350 / 12 MONTHS $600 FOR FURTHER DETAILS AND BOOKINGS EMAIL ADVERTISE@IPN.BM

www.ipn.bm • March 2016 • Island Property News 3

Own your piece of the rock for

HOT Properties

under $1,000,000

You can also find all of these amazing properties on our website - www.ipn.bm!

$565,000

Modern Freehold Townhome $595,000

Price Reduced!

Sandys - Immaculate townhome situated in a quiet, rural neighbourhood away from the hustle and bustle! This beautifully appointed two bedroom, two bathroom townhome has been enhanced with quality finishes from the handcrafted Bermuda Cedar front door welcoming you into the entrance foyer to the Bermuda Cedar staircase leading to the upper level. The great room is a 620 square foot open-plan kitchen, dining and living room with French doors leading out to a private garden area. The bedrooms are located on the upper floor comprising the master ensuite with walk-in closet and private balcony from where views of the ocean are enjoyed. The second bedroom, full bathroom and laundry complete this level. Spaciousness and abundant natural light lend to the generous room proportions. This townhome is only one of three units.

Warwick - A well kept community minutes away from Belmont Golf course, bus line, Lindo’s Market and has a communal swimming pool. This home is located on the ground level with parking just outside the front door. The front entrance leads to the foyer with access to the kitchen and living areas. The kitchen/laundry combination has recently been renovated and included are stainless appliances. The kitchen opens up to the spacious dining living room with fireplace and sliding doors that take you to the covered patio. Both bedrooms are carpeted, have ceiling fans and air conditioning. Both bathrooms have just been renovated including new tile and fixtures. Other amenities include a storage shed, Bermuda Waterworks, aluminum windows, and landscaping.

Bermuda Longtail Real Estate Ltd Contact: Cesa Edwards Phone: 232-2769 Email: cesa@bermudalongtail.com

Roderick DeCouto Real Estate Ltd Contact: Jeff Payne Phone: 292-4990 Email: jpayne@decoutore.com

$720,000

Hamptons

Southampton - Spacious town-home located near Gibbs Hill Lighthouse. This 3 bedroom home comprises open plan living room dining room with a lovely patio for entertaining.

Cozy eat-in kitchen with laundry and rear patio.

Up a flight of stairs is the bedroom level where the master bedroom with ensuite bathroom and two additional bedrooms and full bathroom meet. And on the entry level is a large garage/storage area perfect for storing everything!

Playground, beaches, restaurants are all nearby!!

Bermuda Longtail Real Estate Ltd Contact: Cesa Edwards • Phone: 232-2769 • Email: cesa@bermudalongtail.comm 4 Island Property News • March 2016 • www.ipn.bm

$995,000

Exquisite Penthouse Condominium Southampton - having spectacular unobstructed water views, this immaculate property is being sold complete with high end furniture including some lovely Bermuda cedar pieces, artwork, flat screen TV’s, linens and fully stocked kitchen. The spacious living room with high vaulted ceiling flows onto the private balcony and the stunning water views beyond, and is open plan with the dining room. The 3 bedrooms and 2 bathrooms, modern kitchen with laundry complete the unit.

The Landmark community enjoy swimming pool, tennis courts, beachfront and a Manor House for entertaining or overflow guests. Completely ready for immediate home enjoyment Roderick DeCouto Real Estate Ltd Contact: Henry Tavares Phone: 536-1948 Email: htavares@decoutore.com

$795,000

Move-in Condition!

Smiths - Tastefully renovated, tucked away amidst four acres of immaculately manicured grounds, with access to beachfront on the Harrington Sound, The Grove community is a hidden gem! This private one-level unit is accessible directly from the covered car-port and parking areas, as well as onto a private patio garden setting. The recent refurbishments boasts warm-toned wood flooring throughout and tastefully upgraded kitchen and bathrooms. Open plan living/dining area also includes an office area or possible 3rd bedroom. The master suite enjoys a large private bathroom, wall length closets and access onto the garden area.

A guest bedroom and full bathroom are located along the hallway. The pool and pool deck is located within a few steps from the apartment.

Offering all amenities for those wishing to downsize, or readily provides executive rental income!

Roderick DeCouto Real Estate Ltd

$635,000 Imagine this View!

Southampton - Amazing waterfront condominium with outstanding ocean views, situated on over 7 acres of lush gardens, a tranquil beach, swimming pool, tennis courts and clubhouse!! This Landmark condominium located near Port Royal Golf Course can be yours! This lovely apartment comprises foyer, open plan living dining room with plantation shutters and a sliding door that takes you to the patio overlooking majestic South Shore, spacious kitchen, two bedrooms & two bathrooms. The clubhouse at Landmark can be used for private functions & also comprises 3 guest rooms in case you had visitors from overseas.

A feeling of home & luxury all at the same time. Immediately next to door is Whale Bay Park & Beach. Available to PRC. Bermuda Longtail Real Estate Ltd Contact: Cesa Edwards Phone: 232-2769 Email: cesa@bermudalongtail.com

Contact: Judy Shrubb Phone: 704-0404 Email: jshrubb@decoutore.com

ISLAND PROPERTY NEWS VISIT OUR WEBSITE

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Find your dream home!

People on the MOVE! Are you looking to sell or buy Real Estate?

Need an Appraisal?

McInnis and Associates Ltd. are happy to announce that Mr. Lawrence Sticca has joined the team as their resident appraiser.

SEARCHABLE PROPERTIES Search by location, price & size.

DIY TIPS & EDITORIAL Read exciting articles by our experts

CONNECT WITH OUR REALTORS

Find a Realtor that’s perfect for you!

Tel: 236-2025 • E: advertise@ipn.bm • W: www.ipn.bm

Larry is a qualified Canadian Residential Appraiser with the Appraisal Institute of Canada. As a member of the National Association of Realtors, he is a Certified Residential Specialist and has membership in the Real Estate Educators Association.

Larry is ready to assist you with any residential or commercial appraisals you may require.

Email: larry@mcinnisandassociates.com Cell: 704 0454

www.ipn.bm • March 2016 • Island Property News 5

Buying your piece of the rock!

Picking out a new house can be exciting and terrifying at the same time. How do you choose the best location? How do you know what you can afford? What’s the tiebreaker if you love two places equally?

The first and only way to begin the decision-making process is to grab your pen, paper and calculator. Make sure you know what it is you want, all the details of the houses you’re looking at and break down the costs and final numbers of what you can afford.

Because your new house will be your home for years and you should enjoy every moment of it. We’re here to help you with everything to keep in mind when planning, looking, and deciding when and where to buy your piece of the rock.

6 Island Property News • March 2016 • www.ipn.bm

What to look for when buying a house

By Jacqueline Ward, Island Property News

Buying a house can be one of the most exciting things in life, but these days it seems we spend more time vetting people on social media than some people do viewing a property that is going to be their home for years to come. Some buyers live to regret not taking the extra time to look over a property. Buying a house is a VERY big deal - so don’t feel bad taking your time to look over somewhere that you could be living in for years.

Don’t be surprised after you buy – here are a few tips to pay attention to when looking at a property for sale:

Structure:

First and foremost is the building structurally sound? In Bermuda we are lucky enough to have some pretty solid houses, however many of them are older and could have some issues. Big cracks are what you’re looking for, especially around ceilings, end-of-terrace walls, and windows, all of which can start to fall or bow away from the rest of the house. Also ask how old the roof is and make sure to inspect it to ensure it is sound.

Dampness:

With many of our houses made from stone, dampness can be a big issue. Be on the lookout for mould or mildew. The main giveaway signs are a smell, flaky plaster or paint, and watermarked walls or ceilings. It sounds obvious but look closely for the warning signs hat could lead to a larger problem.

Windows & Doors:

The state of the external windows and doors are a great indicator of the state of the house. Again, as many Bermudian houses are older, it’s important to check not only the quality of the windows but also the frames to make sure they aren’t rotten and that they will keep out the elements. Many older windows aren’t double pained or glazed which means they may not keep in as much heat or AC, which is good to know before moving in.

Space:

Besides the layout of the house many people don’t think about the actual size or space of a room. Most homes are staged so smaller furniture could be placed in a room to make them seem bigger. Bring measurements of your current furniture to ensure rooms will accommodate them; otherwise you could be adding thousands to the price of new furniture in your housing costs. Keep in mind storage space as well. Is there room to put all your stuff or space for shelves if not?

North or South Facing:

Which way does the house face? Many people don’t think about it at the time, but it could mean the difference between a home that is full of light and warmth or one that is frustratingly dark. This could mean a difference in your electricity bills and your lawn and garden may be affected too.

Plumbing & Wiring:

Get your hands on everything, and we mean everything. Turn on every faucet and light switch, open every window and door, flush the toilets, even taste the water. Buying a house is a big step — maybe one of the biggest — and you need to know how everything works firsthand. Check out the fuse box, ask about the water tank, and test the water pressure.

Neighbourhood:

You probably chose an area before looking for what houses are available, however if you’ve never lived in that neighbourhood before you may be in for a surprise. What’s the area like at night? Are there noisy roads nearby? Can you walk to the shops or do you have to drive? Is there public transport nearby? What are the neighbors like?

These are all things to check out and consider Take the time to ensure you look at all the details and factors before going with a house. Don’t feel bad taking your time or even looking at a house more than once. And at the end of the day the most important question to ask is: does it feel like you could make it your home?

11 Steps to Property Success realtor advice From Cesa Edwards of Bermuda Longtail Real Estate

STEP 1

Find a Realtor you can Trust

STEP 2

Preapproval from the Bank

You will be sharing some personal and confidential information, and you want to ensure you feel comfortable with the REALTOR you are working with.

Once you’ve completed the bank’s loan application, your loan officer will advise you of your lending potential. We recommend you provide your REALTOR with this information to better assist you.

STEP 3

Additional Costs

On top of the price of the property, your REALTOR will advise you of additional costs necessary to purchase. Ie Lawyers fees, stamp duties on conveyance (normally shared equally between seller and buyer), transfer fees, search fees & other possible misc fees. If you’re obtaining a mortgage from the bank, your loan officer will advise you of bank fees such as the bank finders fee, stamp duty on the mortgage note, appraisal fees & other possible misc fees.

STEP 4

Attorney

Your REALTOR will provide you with several options of conveyancing attorneys (if you don’t already have an attorney). Your attorney will walk you through the entire legal process of the transaction.

STEP 5

Viewing Property

You have your pre-approval amount and you are now prepared to look for the right property. There are many web-sites in Bermuda for purchasing Real Estate. Your REALTOR can assist you in navigating you through this process and subsequently show you all properties listed, even if listed with another real estate company. This is called a co-broke. Your REALTOR will explain the difference between freehold vs leasehold properties and discuss yours specific wants, needs & desires.

STEP 6

Offer

When you’ve found the right property, your REALTOR will provide you with an offer form to complete. Sellers review offers more readily with a pre-approval letter than without. This proves to them you are qualified. As the buyer must satisfy themselves with the condition

8 Island Property News • March 2016 • www.ipn.bm

of the property your REALTOR should recommend you hiring a structural engineer to ensure the integrity of the property is sound & will recommend this be part of the written offer. Remember, it’s the seller who makes the final decision on all offers.

STEP 7

Offer Accepted/Deposit

STEP 8

Draft Sales & Purchase Agreement

STEP 9

Bank Appraisal

Once your offer is accepted a 10% deposit must be made payable to the stakeholder of the property (usually the sellers attorney). The deposit is held in escrow until closing.

A sales & purchase agreement is drafted. The sellers attorney will send the draft to your attorney who will contact you for review and discussion of the sales & purchase agreement (spa).

Your loan officer will order a bank appraisal on the property. After the appraisal is completed, the bank will provide you with the final approval letter of which you must provide to your REALTOR and conveyance attorney which should satisfy the finance condition, but always follow up with your attorney and loan officer on such finance completion.

STEP 10 Approved Sales & Purchase Agreement

Once all parties along with their attorneys’ advice have approved the agreement, the sales and purchase agreements are engrossed (printed out) for signature.

STEP 11 Preparing for Closing

The seller attorney and your attorney work together to ensure as smooth a transition as possible for the legal transfer of property. Make sure your loan officer is kept abreast of everything to ensure a timely closing date. Your REALTOR will assist you in making preparation for utility transfer, moving arrangements, cleaning arrangements, painting arrangements, security arrangements etc.

Keep in mind that the real estate process may run smoothly or there may be some unexpected obstacles that arise. Go back to the 3 deep breaths in the beginning of the exercise and refocus until your goal is achieved.

The journey is yours and like Tennessee Williams said “Make Voyages!

Attempt them! There’s nothing else!”

Contact Cesa Edwards at Bermuda Longtail Real Estate on 232-2769 or cesa@bermudalongtail.com

What to think about AFTER you move in After the last box is moved into your new home, you might think the hardest part of the move is over. And you’re right. But that doesn’t mean there aren’t things you need to do after a move. In fact, there’s a lot of stuff that needs to get done before you can relax completely.

Here is a quick checklist of things you may need to do after the move:

1. Check Major Appliances If you moved major appliances, such as a stove, dishwasher, washer or dryer, check to make sure all appliances and electronics are working to ensure nothing was damaged during the move. This is particularly true if the mover prepared your appliances for the move.

Your insurance policy may have a limited time in which to make a claim. Since these are big-ticket items, you should make sure they’re all working.

2. Check all Boxes and Furniture To make sure nothing was damaged during the move. You should

also make sure everything arrived and nothing was lost. You can do this by conducting a home inventory. Again, if you find your stuff was damaged at all, contact the mover. It’s important to do this immediately upon moving in or they may not reimburse you.

3. Get your Utilities Set-up Before you can check your electronics, make sure all your services are up and running.

There’s nothing worse than arriving at your new place, late at night, and the lights don’t work.

Make sure before you move that you have all of the information on setting up or swapping over the major utilities.

To Sell or Buy First?? realtor advice From Margaret Young of Rego Sotheby’s International Realty I imagine many of you have been enjoying your large homes but holding your breath hoping that the time would come again when you could downsize but not downgrade and have some additional money with which to enjoy your retirement.

A few years ago, maybe 9 or 10, many of my transactions were selling homes ranging between 2m. and 3m. to young upwardly mobile families. These sellers would then find a nice townhouse or condo in a good location for say 1m. or 1.5m. Then just in a flash all that stopped – there weren’t so many young upwardly mobile families in the market at that level so owners couldn’t move.

Now that has changed. We have many more people active in this sector and not enough homes in that category to sell – which of course means that in that segment it is more of a seller’s market. But the same thing hasn’t happened in the executive condo market and there are a few good buys to be had – so you’d be selling high and buying low. Who doesn’t like to do this?

There are Bermudians spending at this level as well as new individuals who now have an opportunity to purchase as Permanent Resident Certificate holders.

Of course it is a chicken and egg sort of thing! Do you sell first or buy first?

Every individual’s circumstances differ and this is a conversation you should have with your real estate agent when you first consider putting your home on the market.

Contact Margaret Young at Rego Sotheby’s International Realty on 534-9393 or myoung@regosir.com

4. Register your Vehicle If you’ve moved, your car needs to move with you. Make sure you fill in the necessary form with TCD to transfer your car over to your new home’s assessment number.

5. Register to Vote Again, if you’ve moved constituencies, it’s important to make sure you’re on the voter’s registration for your local area.

6. Forward your Mail Make sure to fill in a new address form with the post office to have any mail forwarded to your new address so nothing is misses while you are changing over your address.

7. Get Connected to your New Neighborhood Connect with your neighbours – meet them and say hi – introduce yourself, your family and any pets. These are your best allies in keeping your home and neighbourhood safe and secure. Building a good relationship from the start will help to alleviate any issues that may arise.

8. Take Care of your Finances Make sure to contact your bank and have then change your address on all accounts and Credit Cards (typically separate things). Also be sure to order new checks with your new address if needed.

9. Contact your Insurance Company Including household, auto and health. Make sure that they have your new address associated with your accounts. It’s also important to check if any new coverage is needed with your new home. Perhaps upgraded Contents or Wind/Storm coverage is needed based on where you are now living.

www.ipn.bm • March 2016 • Island Property News 9

Easy Checklist when Purchasing Your Home! realtor advice From Kim Sheen of Kim Sheen Properties

1. Get APPROVED by the Bank!

This is most important. There is nothing worse than finding your dream home and you can’t purchase it. Go to the Bank and have them pre-approve you not pre-qualify. There is a difference.

They must run everything through - knowing your income, debts, employment (how long have you been at your present job), back account balances, do you have money for a down payment and how your credit is. This will insure you have the right amount that they will lend you. It also assists in negotiations. Being a preapproved buyer is ALMOST like purchasing with cash. It gives you an upper hand in negotiating! After pre-approval PLEASE do not make any major purchases as this will change your debt to income ratios. Also, when looking for a home please don’t get upset when an agent asks if you have been pre-approved this only assists in how serious a buyer is and making sure they are not wasting the time of the seller.

2. Work with an agent you can TRUST!

An agent will look out for your best interests and advise you on what & what not to do. They are the middle-man and can calm you down when things get stressful as they will. This is the biggest purchase of your life and you need to know that someone is truly looking out for your best interest.

3. Decide where you want to live!

Where do you want your children to go to school, how far do you want to be away from work, do you want to take the ferry or drive?

What kind of home do you want something that needs work or move in condition? A condo, multiunit or single family?

4. You have found your new home!

This is the exciting part – best advise STAY CALM! You will be experiencing some ups and downs. Don’t get frustrated work through it and know that your agent will take care of any issues.

Remember this - “everything happens for a reason & good things come to those who wait”! I have been in this business for over 25 years and I have seen it over & over.

Contact Kim Sheen at Kim Sheen Properties on 734-1264 or kim@kimsheenproperties.bm Choose a floor plan, not the finishes: You can change out finishes, such as tile, paint and countertops, for less money than changing a floor-plan. Choose a house with a dining room, kitchen and living area that are the right size for your life, then tweak the finishes later.

Is a house right for you?

Picking out a new home can be terrifying but how do you pick the right house for you?

Here are some basic tips to think about when looking at homes: Set your priorities: Before taking a look at any houses, sit down and write out everything you want in a home, with input from all members of the household.

Then choose your top five, or even top three, must-haves. Use a comparison chart to remember all the details between houses you view.

Don’t expect perfection: It’s nearly impossible to find a perfect house.

So think in terms of how you can make this your perfect home by making few changes to the things you don’t like.

Don’t choose based on investment: For most people, a house is also a home—a source of comfort, safety, happiness, entertainment and well-being. A home that’s a great financial investment is only a smart choice if it satisfies your need for home comforts, as well.

Choose the neighborhood, not just the house: If you have to decide between a great house in an area that doesn’t appeal to you, or a house that’s slightly less appealing in a neighborhood of people with similar values, interests, and ages, choose the latter. It can mean great social opportunities for the entire family.

Don’t just buy for right now, plan for the future: Think about not just what you want today but what you might want in the future. If down the road you were to decide you wanted to add a deck, an extra room or a backyard studio, would that be possible?

Are you planning a family and will that home accommodate that?

Buy a life, not an address: No matter how lovely a home is, if it doesn’t fit your lifestyle, it won’t make you happy in the long run. If you’re a hiker, a charming house near the city’s center won’t be a good match. If you love to cook, a lovely house with a tiny galley kitchen will eventually disappoint.

And if you’re big entertainers, a house without decks, a big yard, and lots of room to park will become a frustration.

Sourced from www.forbes.com

BS&R How To: Paint or Not to Paint Expert Advice from BS&R Group We all know, when decorating, the beauty is all in the details. Choosing to finish, paint, glaze or leave wood alone makes a big difference in your home as well as in the longevity of a piece.

To Paint or Not to Paint?

It is true, there are some types of wood that are beautiful on their own. Leaving them alone allows them to age naturally and beautifully. Wood such as Accoya, Cedar and other hardwoods can be left with a simple sealant and stand on their own as stunning natural pieces.

But if you’re after a certain look for your home, finishing and painting can be the best option to get your piece to integrate with your home. Using quality sealants, finishes, glazes and hardware not only complete a piece beautifully, but also can give them durability, dimension and personality.

Stains, finishes, and glazes can be color matched to your desired effect and décor. Even faux finishes or combinations such as ‘peel off’, rub through, crackle, glazed and distressed finishes can be chosen to create endless custom finishes particular to your interior design.

Examine the surface for loose and cracked paint that’ll need scraping and use a spackling putty for chips and scratches. Finish up the prep work by lightly sanding all areas. Use 180-grit paper or a fine sanding sponge. This will smooth out previous brush marks and scuff the surface to help the new coat of paint stick. Then wipe down the whole surface with a damp cloth to remove all the dust.

It’s All in the Details…

If you do choose to paint, you have to pay attention and take your time. Good surface preparation and good brushing technique are essential.

Finally don’t undermine all the time and effort you’ve put into the prep work by using cheap brushes and paint. When painting, the longer the paint remains wet, the better it flows and flattens, leaving a smooth surface. We recommend that you use an additive that slows down the drying process and helps the paint lie smooth. (Floetrol is one common choice). Here’s where the good brush pays off. The paint will flow smoothly onto the surface with little effort on your part.

You can’t just slap on paint and call it a day. A coat of paint won’t fill or hide cracks, chips and other surface defects, and it won’t smooth an existing rough surface. To start you have to fill and smooth the woodwork first and wash the woodwork with a TSP solution (or TSP substitute) to remove grease and grime.

Whatever you choose, make sure you know what you’re doing or consult with a professional. We promise, we know what we’re doing and may have ideas and options you haven’t thought of. So take your time and do the research because the devil is in the details.

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www.ipn.bm • March 2016 • Island Property News 11

Can you Afford it?

The ins and outs of buying a house

You may think you’re ready to be a homebuyer, but have you done your homework? Buying a house requires a lot of thought and planning especially when it comes to the financial side of things.

In the end purchasing a house has to make sense to your financial goals and shouldn’t bankrupt you in the process.

price you will need. Building your savings is something you should do over and above saving money for the down payment and closing. Your lender wants to see that you’re not living paycheck to paycheck. If you have 3 to 5 months worth of mortgage payments set aside, that makes you a much better loan candidate.

The first step is to figure out what you can afford. You want to get a home that is financially comfortable and isn’t going to put you in the poor house. There are various tools and rules of thumb that will help you get an idea of how much home you can afford. For conventional loans, a safe formula is that home expenses should not exceed 25-30% of your gross monthly income.

While buying a home is a major financial accomplishment, it’s unlikely that it’s the only one you ever intend to make. What other goals do you have or major life transformations coming up? Break it all down into steps and see how a home purchase will affect your pursuit of these other goals. Become clear on the numbers and prioritize from there.

Before you start looking for homes you can calculate the mortgage payment for the home in your intended price range. You can also factor in increased expenses (such as taxes, insurance and utilities) that come with a new home. Then you can see what you can afford and also start banking the difference between what you pay now and what it would be to see if this is something you can maintain before you commit.

What ever you do, don’t buy a house based on emotions. If you fall in love with something that’s not best for you, you might end up making some pretty bad financial decisions. There’s a big difference between your emotions and your instincts. Going with your instincts means that you recognize that you’re getting a great house for a good value. Going with your emotions is being obsessed with the kitchen or the backyard. Make sure you’re ready to be a homeowner and that you can afford the responsibilities that go with that. It’s an investment, so stay calm and be wise.

Depending on your credit and financing, you’ll typically need to save enough money for a down payment – talk with your bank to determine what percent of the homes

Buying a Property - The Purchase Process realtor advice From Sharon Cranfield of Cranfields Property

First contact your bank if you need to borrow money to purchase a home and find out how to qualify for a mortgage. Ask for a preapproval so you know what your buying power will be.

Then select a real estate agent that you are comfortable with and discuss what you are looking for - where you would like to live, what you can afford as well as what your needs and wants are in a property. A good realtor will recommend suitable properties which will save you time by filtering out properties that look & sound right but don’t fit your requirements.

Once you have found the right property it is best to make a written offer which covers the main terms and conditions under which you intend to purchase the property.

Take advice from your realtor as to what you should consider including in your offer.

Your realtor can provide you with an idea of the closing costs on the purchase price so that you can 12 Island Property News • March 2016 • www.ipn.bm

insure that it falls within your pre-approved mortgage amount.

If your offer is accepted a Sale and Purchase Agreement will be drawn up and sent to your attorney for approval. At this point you will need to ensure you have funds on hand for the 10% deposit. Your attorney will review the contract details with you & if it is acceptable will make an appointment for you to sign the Sale and Purchase Agreement & lodge your deposit.

Once both Purchaser and Vendor have signed the Agreement & the Purchaser has lodged the deposit it is said to be “In Contract” and neither party can withdraw unless the specified conditions are not met.

The sale closes on the completion date specified in the contract once a property search is carried out and conditions are met.

At completion the Funds are transferred to the Vendor’s attorney.

The conveyance document is signed by the Vendor & returned to your attorney completing the sale & you become the new owner of the property.

Contact Sharon Cranfield at Cranfield Properties on 305-8074 or sales@bda4sale.com

Rental Listings FREE for any advertiser or $30 per listing • Deadline is the 20th of the month Prior Publication

$2,650/Month – St George’s

$2,950/Month - Warwick

$3,600/Month – Shelly Hall

Cup Match fans and eastern parish lovers, welcome to your new home! An immaculate split-level 2 bed/2.5 bath home for those desiring tranquility, security and a comfortable living space. Within close proximity to a convenience store, playground, St. George’s Cricket Club and Town Square, you’ll have entertainment and playtime at your fingertips! Quality fixtures and fittings throughout.

Reverse air conditioning. The unit has tile and hardwood flooring throughout. Laundry facilities are shared. This unit shares a tank with another apartment. Assessment number. To view, please contact the Listing Agent Ambika Scott of Moongate Realty at 232-2387, 735-2386 or ascott@moongatebda.com.

Furnished upper apartment located near Riddells Bay Golf & with views of Riddells Bay. This modern apartment comprises living room with fireplace, dining room, spacious kitchen with granite counter tops, gas stove & stainless appliances, master bedroom with ensuite bathroom, 2nd bedroom & powder room. Shared laundry on site. Located right on the bus line & walking distance to grocery, gas stations & restaurants. Lovely patios off of the living room & master bedroom, along with enclosed gardens for a great bbq. Call 232-2769 Bermuda Longtail Real Estate or email cesa@bermudalongtailrealestate.com.

This lovely 2 bedroom, 2 bathroom furnished Shelly Hall unit makes quite the impression. The upper unit is close to both of the pools at the Shelly Hall complex. The Living /Dining Room open plan concept features exposed beamed ceilings. Off of the living room is an elevated patio perfect for just relaxing or entertaining. The kitchen boasts wood cabinetry, major appliances and washer/ dryer stackable. The smaller bedroom is light and airy with double closets. The hall bathroom is a tub/shower combination. The en-suite master bedroom is spacious with double closets. Perfect Place to call Home! To view contact Johnette McNeil of JBM Realty on 331-5532 or email johnette@jbmrealtyandassociates.com.

$2,850/Month - Close to Hamilton

Fully Furnished - Located on a quiet lane off of Richmond Road on the immediate outskirts of Hamilton - a very easy 5-minute walk to the centre of Hamilton. Delightful ground floor apartment featuring a large private garden with terrace for outdoor living. This apartment is fully furnished with a queen sized bed in master bedroom, complete dining room and living room furnishings and everything else that you need to move right in! Kitchen has lots of storage space and stainless steel appliances including a dishwasher. Washer and dryer inside the apartment. Designated parking. Contact Crisson & Co. on 295-0826 or email crissonco@crissonrealestate.com.

$3,500/Month - Warwick

$3,800/Month - Smiths

2 bedroom/2,5 bathroom modern townhouse in excellent condition is conveniently located on Keith Hall in Warwick.

Walking distance to grocery store, bus stop and ferry terminal. This small development of 11 was built approx.

8 years ago featuring granite counters, all hardwood cabinets, split ac units and tiled throughout. The open plan kitchen, dining and living area and powder room are located on the ground level. Two bedrooms with bathrooms ensuite are on the upper level. There is a large communal garden area for kids to play. In addition, this unit has a private outdoor area for entertaining. Available May 1st unfurnished or furnished at an additional cost.

Contact Debbie Moura of Moura & Associates on 236-0737 or debbie@mouraandassociates.com.

2 bedroom/2 bathroom, lovely stand alone cottage in a quiet Smiths Parish neighbourhood. Cherrydale previously rented as tourist accommodation, therefore, this fully furnished single level home is move in ready and hasslefree. Consisting of an entrance foyer, den/office, laundry room, kitchen with gas stove, living room, dining room, master bedroom with bath ensuite and second bedroom with guest bathroom. Additionally there is a covered patio, which looks out on a private garden setting. This home is ideal shared accommodations or a family new to island who is looking for an easy transition. All utilities are included (except Belco but can be added for an additional cost) as well as housekeeping every 3 weeks.

Available immediately. Contact Debbie Moura of Moura & Associates on 236-0737 or debbie@mouraandassociates.com.

Do you have a Rental Property available?

You do not need to be a realtor list your property here for Only $30!

OR FRee for any advertiser.

www.ipn.bm • March 2016 • Island Property News 13

Rental Listings $5,500/Month – Sandys

$6,250/Month - Seagull Lane Lower

$8,500/Month - Hinson Island Rental

Charming split-level standalone home in Sandys. This lovely three bedroom, two bath home features living room with fireplace, dining room, eat-in kitchen and garage with plenty of storage space and laundry facilities. On the upper level is the master bedroom with ensuite bath.

The ensuite bath features a Jacuzzi tub and separate shower. Leading from the master bedroom is a balcony to enjoy the distant water views. Tiled and carpet flooring throughout and split system a/c. The home boasts a lovely garden area for entertaining and young kids to enjoy. To view contact Johnette McNeil of JBM Realty on 3315532 or email johnette@jbmrealtyandassociates.com.

Prodigious 2 bedroom 2 bathroom apartment with resplendent views overlooking the north shore. Walk inthrough the double French doors off a massive covered porch into the great room: an open plan kitchen(with island and stainless steel appliances), dining and living room with ceiling fans. Tiled floors and high ceilings lead to the oversized bedrooms both with large walk in closets - master with bathroom en-suite and a separate utility room. The building is well maintained and there is easy access to the water allowing prime viewing of the yachting spectacle coming to our island! Please contact William Kempe of The Property Group on 777-9449 or email wkempe@property-group.com.

Spectacular views. Beautifully renovated modern kitchen with stainless steel appliance and built in coffee maker and wine cooler. Separate dining and living area with living room opening out onto the patio and the views.

Three nice size bedrooms with en-suite bathroom in the master. The bonus room could be used as a fourth bedroom or den. Separate laundry room. Spacious dry storage area below. This property sits on half an acre and includes a private dock and boat. This property comes with many upgrades and use of the community areas on Hinsons Island which there are many. Please contact Lisa Fraser-Smith of The Property Group on 705-1807 or email lisa@property-group.com.

$8,000/Month – Southampton

$12,000/Month – Standalone Cottage

Furnished or Unfurnished Executive 3 Bedroom Main Home With Private Pool. Located in the desirable neighborhood of South Whale Estate is this lovely home which comprises spacious foyer, living room that leads you to the private swimming pool and patio, open plan dining room kitchen with eat-in granite counter tops & stainless. The long hallway takes you to the master bedroom with large walk-in closet, ensuite bathroom with separate shower & jacuzzi tub. Two additional bedrooms share a spacious full bathroom. Enjoy the spacious yard & gardens outdoors or take a walk to the estate beach (beach at low tide). Minutes from Port Royal Golf Course, & Rockaway Fast Ferry to the city. Contact Bermuda Longtail Real Estate 232-2769 or cesa@ bermudalongtail.com.

Glenbervie has four bedrooms, four bathrooms, a swimming pool, basement and one bedroom apartment.

The garden is completely fenced in as is the pool, making it safe for children and pets. Mature shade and fruit trees (loquat, peach, and lemon) add to the beauty and functionality of the garden. Supermarkets, pharmacy, post office, gas stations, schools, restaurants, churches and recreational activities such as golf, horse-back riding, bowling and walking/running trails area a stone’s throw away. Tamarind Vale is a safe neighbourhood and blessed with excellent neighbours. To view this lovely home, contact Listing Agent Ambika Scott of Mooongate Realty at 735-2386 or ascott@moongatebda.com.

$6,000/Month – Harbor Views

Overlooking Hamilton Harbour and conveniently located in Highwood Estate, Harbour Road, Paget, “Eastshore” is a 2 storey home consisting of living room, dining room, kitchen with stainless steel appliances and pantry, master bedroom suite on the upper level. On the lower level there is another bedroom suite, a family room or t.v. room, and a den (or 3rd bedroom). There is a sheltered lovely brick patio in the back yard and a covered porch at the front, which overlooks the Harbour. Across the street, there is a shared dock that provides water access. A boat moorings can be made available. Conveniently located near the Lower Ferry stop and also within walking distance to the A-1 Marketplace Grocery on Valley Road. This property is available now - Unfurnished. Contact Crisson & Co. on 295-0826 or email crissonco@crissonrealestate.com.

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www.IPN.BM 14 Island Property News • March 2016 • www.ipn.bm

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