During this time of financial uncertainty, when it comes to buying a new home especially for those who are just starting out, affordability is an issue. Buying a detached single family home might be costly or too much to handle if they have to squeeze monthly mortgage payments into their budget.

The most attractive option would be to buy a condo unit. Condo ownership offers new home buyers a chance to own a residence and build equity at a lower cost than a detached single family home. It offers them a title to the space of their own living quarters with minimal running cost. It is because maintenance cost is reduced and fees are shared among the owners. Condo owners will only pay a fraction of the whole maintenance cost which is more affordable than single detached home’s monthly mortgage payment.

Owners are entitled to use the building’s facilities, amenities and green areas. Most condos offer many modern amenities such as pools, Jacuzzis, tennis courts, fitness centers or clubhouses. There are also condominium buildings that offer golf courses and more traditional recreation rooms with billiards, libraries, card rooms and others. These are part of the ‘perks’ that go along with owning a condo unit and part of the condo homeowners’ association fee.

Many condominium complexes today are very ‘family friendly’ and are ideal for raising children. Aside from facilities for children, condo homeowners are assured with 24/7 protection within the building’s premises. Cameras are installed in the lobby and even in elevators to provide homeowners with maximum security.

In today’s real estate market, condos are highly sought after homeownership because of affordability, low maintenance cost and resort-style facilities. Of course condo homeownership is not cut out for everyone, however in this ailing times, a more practical solution is needed.

Kevin Clayton, President of Clayton Homes - one of America’s largest manufacturers of mobile and prefabricated homes gave his architects a free hand instructing them to create a new house incorporating as many green products as possible to produce a home that is supper energy-efficient.

The result is the Clayton I-House, a modern prefab home that can be powered for only a dollar a day.

It has a Low E- windows, high-efficiency appliances, solar augmentation and superior insulation. The solar insulation in the roof cut the electricity in half. There is also a tankless water heater and a cistern which collects rainwater from the roof for use in car washing, gardening and other outdoor uses.

The core unit can be expanded by adding additional rooms in different configurations to suit the homebuyer’s needs and the character of the lot. Placing rooms above one another to accommodate larger families is possible. Clayton Vice President Chris Nicely said “the goal is to allow as much customization both in configuration and interiors. It can be set on a traditional foundation or it can sit on piers driven into the ground.”

As innovative the green house features are, it is the design that draws attention. The interior and exteriors are attractive looking like a high-end home. Clayton is even exploring a partnership with IKEA and let prefab home buyers design their own I-Houses from the IKEA website.

The basic I-House is 992 square feet. Its design is a blend of indoor and outdoor space which makes it seem bigger. Though final prices have not been set, Clayton hopes to deliver it for $100,000.

With energy costs certainly to climb in coming years, the market for a small but stylish house that has many high-end amenities with a low energy bill is a big hit in the plummeting housing market.

After only spending a few days in your new home, What if you discovered a leaky ceiling, pests or rowdy and noisy neighbors?

To avoid having to face these undesirable events, follow these few surprise-less home-picking tips:

First tip is to do research on the town where you have chosen to live. An online search will usually lead you to an official city site or a chamber of commerce website. These sites can provide you with a lot of useful information. However, do not stop your research there because these sites normally “sell” the city to viewers. You can always find a local newspaper or city news online to back up the informations.

The second tip is to check out your soon-to-be neighborhood. After checking out the town or city, you might want to check out the neighborhood as well. Visit a local bar and ask residents about details like how fast or slow homes are selling and whether there are criminal gangs and more. More importantly, drive around town. It will help you get a good feel and first hand experience for where you might want to live.

The last step is to check out your chosen home. When you are sure you like the home, walk around the area. Converse with neighbors and interview them about possible roof-tearing storms or try to get some information on every little thing that may affect your lifestyle.

Follow these few simple tips and erase those unpleasant surprises.

Thinking of a home renovation? Be sure to consider these tips for what home buyers will be looking for a home 5 to 10 years from now. Otherwise, when time comes for you to sell, you may be left with a heap nobody wants.

According to the U.S Census Bureau, the median age of an American home is 36 years and like many homeowners, you should also find yourself in the midst of house “future-proofing” so it does not become an outdated edifice amidst fast-changing new building science and static home-sales market.

New Regulations, such as California’s recent move to reduce formaldehyde emission from composite wood products such as those used in most Californian kitchen cabinets is a great upgrade for your house renovation project. Turning green is helpful too, though back then, “energy efficiency” and “green” building were still environmentalists’ lingo and housing prices seemed likely to only go up.

“5 or 10 years ago, people did not wonder, What can we do to insulate or what sort of lighting to use to save energy?’” says Gary Drake, owner of Los Angeles-based Drake Contractors Inc. “It was more like, ‘Why am I spending all this money on insulation?’”

Now Drake said that almost a quarter million of remodeling clients are requesting for energy efficient lighting, appliances as well as paints and cabinetry made with less volatile organic compound or VOC which are solvents that can cause environmental and health problems.

Here are five home remodeling “future proofing” tips that experts recommend to ride in the new trend in 2^nd -3^rd generation home-sale market.

1. Consider a tankless water heater or going solar

Tankless hot-water heaters fire up only when you turn on the hot water tap. As water runs through the heater, it is warmed instantly. Such appliances are considered to be more efficient than a standard water heater tanks which continually consume energy to heat and store water you do not use most of the day.

Hawaii is beginning to mandate tankless water heaters in new homes. Residents who have installed solar water-heating system in the US can qualify for a 30% federal tax credit, while tankless hot water heaters can earn up to $1,500 federal credit and some state incentives too.

2. Upgrade your home’s insulation

Today there are multiple forms of home insulation; many promoted as “green,” including soy-based foams, denim and loose-fill cellulose (recycled newspapers). You should use the highest R-value or thermal resistance- the bigger the number the better the insulation.

3. Use formaldehyde-free kitchen Cabinets

Inquire whether the material used for your kitchen cabinets has urea formaldehyde which is used in adhesives of certain pressed-wood products. WHO and National Cancer Institute recommend that “buyers should ask about the formaldehyde content of such products” Formaldehyde is considered to be the human carcinogen.

4. Use low or no VOC paint and finishes

Products that contain low or no-VOC paints and finishes are healthier for your family while painting is going on. VOCs are solvents that disperse into the air as paint dries and is responsible for that new-paint smell. VOC can contribute to smog as well as kidney and liver damage, respiratory and memory problems particularly in children.

Spending a bit more on such upgrades can pay off immediately in terms of energy saving and a higher resale price. In fact, according to study, most 2^nd or 3^rd generation homebuyers are willing to pay a premium of $20,000 or more for a green home.

Philippine real estate transactions are sometimes a cause for worry because of the many unavoidable problems in the system. Having stress-less or worry-free real estate transactions would be an absolute blessing!

The first tip is to make sure to deal only with Titled property. Dealing with untitled properties or properties evidenced only by a Tax Declaration will only force you to investigate the chain of property ownership. With titled property you can be sure of the fact that the owner of the property is exactly who is stated in the title. Also make sure that you meet with the actual sellers of the property and not another party that the original sellers appointed to handle the transaction.

The next tip is to secure a certified true copy of the title from the register of deeds. There is a chance of an “involuntary liens” annotation that would mean the property is still under question or the ownership is transferred. This can only be seen behind the title on file with the register of deeds.

The third tip is to have the property identified by a licensed surveyor to verify that the property is exactly what is being stated in the title. This way, you can be assured of the meters and bounds of the property and not be afraid of giving up your money for it.

The last and most important tip is to never forget to have your deed of sale, contract of sale or other document over the land annotated on the copy on file with the register of deeds. This should be clear enough to be sure that your records are correctly stored and your property properly transferred to you in official government documents.

Remembering these small tips would help you achieve the best real estate transaction that you deserve.