Стоит ли сейчас покупать недвижимость: Стоит ли сейчас покупать квартиру или лучше подождать до осени? :: Жилье :: РБК Недвижимость

Стоит ли покупать жилье, когда нефть и рубль падают. Что важно знать :: Новости :: РБК Инвестиции

Рынок жилья кажется неплохим прибежищем для инвестора, желающего переждать очередной кризис. Рассказываем, как стоимость недвижимости меняется в условиях падения цен на нефть и что ждет этот рынок в ближайшее время

Фото: Scott Blake / Unsplash

Фондовый рынок штормит из-за резкого обвала цен на нефть, вызванного коронавирусом и развалом нефтяной сделки ОПЕК+. На неделе с 9 по 13 марта котировки падали до самых низких значений со времен 2016 года. К завершению недели баррель марки Brent стоил около $35.

Рухнувшие цены на нефть потянули вниз курс рубля: евро закрепился выше ₽80, а доллар — выше ₽72. В таких условиях многие обращают внимание на жилую недвижимость — возможно, не самый доходный, но один из самых надежных активов. В этом тексте мы расскажем о том, как именно падение цен на нефть повлияет на стоимость жилья.

В краткосрочной перспективе цены вырастут, в долгосрочной — упадут

В России цены на нефть опосредованно влияют на рынок недвижимости. Как объяснял в 2014 году профессор кафедры экономики и управления городским строительством РЭА им. Г. В. Плеханова Геннадий Стерник, именно они определяют платежеспособный спрос и стоимость жилья посредством нескольких факторов.

Во-первых, это макрофинансовые условия — изменения курсов валют. Во-вторых, макроэкономические условия — темпы роста ВВП, промышленного производства, уровень занятости, инфляции и дефляции. В-третьих, объемы строительства и жилищного кредитования.

Падение цен на нефть по-разному может повлиять на недвижимость в краткосрочной и долгосрочной перспективе. В начале кризиса многие стараются вложить капитал в жилье — это относительно простой и надежный способ защитить дешевеющие активы. Это активизирует покупательский спрос, что двигает цены вверх.

Однако затем экономические показатели в стране ухудшаются, покупательная способность населения падает — а вслед за ней падают спрос на недвижимость и цены на нее. Обычно они сперва снижаются на вторичном рынке. Колебание стоимости нефти приводит к коррекции  цен на жилье, однако динамика может стать заметной лишь спустя шесть месяцев.

По прогнозу руководителя отдела городской недвижимости «НДВ-Супермаркет Недвижимости» Елены Мищенко, цены начнут падать уже в апреле.

«Повторяются сценарии 2008 и 2014 годов. Если сейчас не удастся договориться по нефти, рынок недвижимости начнет падение по ценам. Март еще продержимся, так как те, кто планировал купить доллары, снимут с продажи квартиры. Но уже в апреле жилье будет дешеветь», — считает Мищенко.

Жилье в новостройках может подорожать

На первичном рынке предпосылок для снижения цен меньше: издержки девелоперов и так выросли из-за недавнего перехода на эскроу-счета. Более того, рост курса валют приведет к удорожанию импортных стройматериалов и техники, а также транспортных расходов. По разным оценкам, в структуре ценообразования квадратного метра доля стройматериалов составляет около 40%

В кризис темпы и объема строительства неизбежно снижаются. Прежде всего он ударит по застройщикам, которые заключали контракты, рассчитанные на прежние курсы валют. При высоком и нестабильном курсе расходы и риски ощутимо вырастут. В таких условиях некоторые девелоперы могут отказаться от реализации некоторых проектов, что снизит предложение на рынке.

«Падение курса рубля вследствие отказа от соглашения с ОПЕК сложно называть обвалом или кризисом, скорее, это временная корректировка. Тем не менее это может сказаться на рынке жилой недвижимости, в частности повлияет на стоимость квадратного метра, рост которого может составить до 10% в среднесрочной перспективе», — сказал «Интерфаксу» первый заместитель генерального директора компании AFI Development Евгений Поташников.

Цены на жилье напрямую зависят от действий ЦБ

Если на фоне падающего курса рубля Банк России примет решение поднять ключевую ставку, то ипотечные кредиты подорожают тоже. В этом случае некоторые потенциальные покупатели откажутся от займов, а для части населения они вовсе станут недоступными. Кроме того, банки могут сохранить ставки, однако ужесточить требования к заемщикам.

Все это, в свою очередь, уменьшит число покупателей жилья, снизит спрос на рынке и уменьшит количество сделок с недвижимостью, что приведет к снижению цен. Больше всего в цене обычно теряет малоликвидное жилье вроде хрущевок.

Насколько серьезно нынешняя ситуация повлияет на рынок недвижимости, станет ясно после реакции ЦБ. Плановое заседание Банка России по вопросу изменения ключевой ставки должно состояться 20 марта.

По мнению руководителя аналитического центра ЦИАН Алексея Попова, рынок жилья ждет падение спроса в случае повышения ставки до уровней, при которых ипотека станет дороже 10,5–11%.

Генеральный директор Рейтингового агентства строительного комплекса (РАСК) Николай Алексеенко считает, что сценарий 2014 года вряд ли повторится: «Если и произойдет коррекция, то максимум на 1,5–2%. Если же отталкиваться от одного из основных индикаторов для банков (с точки зрения доходности ипотечных ставок) — доходности десятилетних ОФЗ, то стоит ожидать, что уже в ближайшее время ипотечная ставка может повыситься на 0,5–1%».

А по мнению управляющего партнера компании «Метриум» Марии Литинецкой, повышения ставок в ближайшее время не стоит ждать по политическим причинам: «Последние месяцы президент и премьер неоднократно заявляли о необходимости сокращения ипотечных ставок, и разворот на 180 градусов может быть воспринят очень негативно накануне голосования за поправки в Конституцию 22 апреля».

Как кризисы влияли на стоимость жилья в Москве

Кризис 1998-–2000 годов: после обвала рынка ГКО и цен на нефть (c $22 за баррель WTI в октябре 1997-го до $11 в декабре 1998-го), а также колебаний на азиатских рынках цены на жилье в Москве в долларовом эквиваленте рухнули на 30–35% — до $700 за 1 кв. м. В первую очередь пострадал рынок вторичного жилья, так как большинство москвичей получало зарплаты в долларовом эквиваленте.

Динамика средней стоимости жилья в Москве, $ за 1 кв. м (Фото: «РБК-Недвижимость»)

Кризис 2008–2010 годов: ипотечный кризис в США, кризис ликвидности в развивающихся странах и падение цен на нефть (со $145 до $91 за баррель) привели к снижению цен на 30–35% в долларах и 10–15% в рублях. Некоторые крупные девелоперы с большой долговой нагрузкой обанкротились.

Динамика средней стоимости жилья в Москве, $ за 1 кв. м (Фото: «РБК-Недвижимость»)

Кризис 2014 года: на фоне падения цен на нефть с уровня $105–115 до $60, обвала курса рубля и введения антироссийских санкций цены на московское жилье снизились на 55% в долларах и 15–20% в рублях в конце 2014-го — начале 2015-го.

Динамика средней стоимости жилья в Москве, $ за 1 кв. м (Фото: «РБК-Недвижимость»)

Подготовлено с использованием материалов «РБК Недвижимость»

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От латинского Сorrection — Выправление. Изменение котировок ценных бумаг в направлении, противоположном основной тенденции движения цен. Примером коррекции может быть рост котировок после постоянного недельного снижения цен на акцию. Зачастую коррекция вызывается массовым исполнением стоп-приказов, после чего, как правило, возобновляется движение котировок по направлению основной тенденции. 90000 What I Wish I Knew Before Buying Rental Property 90001 90002 In early 2006, my husband and I decided to purchase our first home in my hometown of Greenfield, Indiana. After shopping around for a few months, we decided on a 1,300 square feet home with three bedrooms, an open kitchen and living room, and a fenced back yard. 90003 90002 Since we had moved there from a one-bedroom apartment with only two windows and a total of 500 square feet, it felt like a mansion to us. All of a sudden, we went from sleeping, eating, and living in 2-3 rooms to having more rooms than we needed.90003 90002 Still, our plan was not to live there forever. You see, we had somehow set our sights on becoming landlords at a young age in order to reach our dream of financial independence as quickly as possible. And that’s exactly what we did. 90003 90002 A few months after the purchase of our own home, we put 10 percent down on a brick ranch nearby and turned it into our first rental. Shortly after that, we converted our «starter home» into a second rental and purchased a larger home for ourselves.90003 90002 We learned most of what we knew about finding and screening tenants, creating and signing leases, and managing our properties on the Internet. Everyone we knew thought we were crazy, until they finally realized that, despite our lack of experience as landlords, we were, in fact, making it work somehow. 90003 90012 Here’s What I Wish I’d Have Known 90013 90002 Fast forward almost ten years, and our properties are still standing and as profitable as ever. One of our properties has been paid off for around a year, and the other one has a small mortgage that is set to be paid off in 2-3 years.90003 90002 Of course, family members and friends who once thought we were crazy have changed their tune over the years. Once both our properties are paid off, we’ll have at least $ 2,000 per month in somewhat passive income on a monthly basis. All the while, our tenants actually paid off the properties 90017 with their money 90018 — not ours. 90003 90002 Still, it has not been a painless experience, and we made many mistakes along the way. And there are plenty of things I would do differently if I could.Unfortunately, it’s true that some things need to be learned the hard way. Here’s what I wish I would have known 90017 before 90018 we became landlords: 90003 90024 Your Property Taxes Might Explode 90025 90002 One of the first lessons we learned about owning rentals came as a huge, scary surprise and ended with a night of tears and weeks of stress. I’ll never forget the day I opened our property tax bill for our first rental and realized that our property taxes had gone up 300 percent overnight.90003 90002 I actually knew that our property taxes would go up somewhat — my state offers a homeowner’s exemption on your primary residence, and I knew that it would not apply to any properties we did not live in. Still, I was unaware that property tax caps on rental properties were a full percentage point higher than those on homesteads and your primary residence. 90003 90002 The problem was, I had based the rental price on our old mortgage bill — not the new one. So, for the first year we rented that home, we merely broke even instead of pulling in a profit.Fortunately, we were able to readjust the rent and raise it to take the higher property taxes into account once the first year’s rental lease came to an end. Lesson learned there, 90031 but it was definitely learned the hard way. 90032 90003 90024 Renters Can Do More Damage Than You Realize 90025 90002 If you talk to anyone who has owned rental properties, you’ve likely heard a few horror stories about the kind of damage they can leave behind. I was fully aware that these things happen, but not quite prepared or expecting to live through it myself.90003 90002 Unfortunately, I would soon find out how stressful it can be when one of our tenant families broke their month-to-month lease abruptly and moved out in the dead of winter. When I showed up at the house to do the final walk-through of the property, I honestly could not believe what I saw. 90003 90002 All of the doors in the home were missing — 90017 gone 90018. The carpet, which had been new when they moved in, looked as if someone had poured a giant can of motor oil all over it.The front door had been broken into and the door frame had been haphazardly glued back together in an attempt to hide it. 90003 90002 90017 But the worst was yet to come. 90018 The giant picture window in the front of the house had been broken — and replaced with a window that did not even fit and did not match the rest of the windows in the house. 90017 What?!? 90018 90003 90002 I could not believe what I was seeing. The house had been in great shape the last time we visited, which was only eight months before.Unfortunately, I later found out that the mother of the family had packed her stuff up and left several months before, which left the father and kids to figure things out on their own. He worked long hours and left the two teenage boys alone during that time, which led to the total destruction of the home in a relatively short amount of time. 90003 90002 We ultimately fixed and replaced everything in the home, and even got the tenants to repay us for most of the damage. Still, I learned a valuable lesson from the experience: A lot of damage can happen in a short amount of time if you allow it to, and the only way to prevent it is to visit your properties frequently.90003 90024 Good Tenants are Worth Their Weight In Gold 90025 90002 Spending $ 6,000 to repair our rental property taught us that we needed to be more careful when selecting tenants. However, it also taught us to appreciate the really good renters we have the pleasure of doing business with. You know the kind, and maybe you are one yourself: The renters who take immaculate care of the lawn and keep the home clean. The ones who decorate for the holidays and take pride in their rental as if it was their own home.90003 90002 One of our homes has been rented to the same family for eight years at this point, for example, and I have grown to be very fond of them. We only drop in once every six months or so, and the property is always immaculate inside and out. 90003 90002 We hardly hear from these particular renters. The last time they called us it was because they want to stain and upgrade the deck. 90003 90002 Because they are such good tenants, I’ve pledged to never raise the rent as long as they are there.And, even though we’re losing out on some revenue by not raising rent, we get the peace of mind that comes with having a tenant that takes excellent care of our property. To me, that feeling is worth more than the incremental rent increases we could charge as time goes on. 90003 90002 I also wonder if we will end up ahead anyway. After all, excellent tenants like them tend to require fewer repairs and will leave far less wear and tear behind when they do finally move out. 90003 90024 Repairs Will Be Expensive and Unexpected 90025 90002 In the ten years we’ve owned our homes, we’ve replaced a furnace, an air conditioner, a refrigerator (twice), and a stove.We’ve paid for a new sump pump and underwater drain system in one of our crawl spaces. We’ve spent hundreds of dollars on drywall repair, paint, and carpet. And that does not even include the $ 6,000 we spent repairing the property our renters practically destroyed one year. 90003 90002 Fortunately, most of those funds have come straight from our renters themselves. Since both of our properties bring in a tidy profit each month, we are able to use the overages to pay for things like repairs and upgrades and whatever else comes up.90003 90002 Still, some of the money has come straight out of our own pockets, and those surprise repairs always seem to come at the most unexpected (and worst) times possible. When we first became landlords, we did not have a huge emergency fund to deal with unexpected repairs and would often need to dip into our personal savings to pay for anything that popped up. 90003 90002 Everything always worked out fine, but I definitely realized over time that we needed to set some funds aside for what we knew would eventually happen.And now that we have an emergency fund big enough to handle nearly anything, I no longer stress out about those things — like the roof that needs replaced in the next year or two, or the 17-year-old furnace that will eventually die. 90003 90002 Instead of 90017 letting the unknown control us 90018, we’ve learned to take control of the situation ourselves over the years. Stuff happens. The difference is, now we’re prepared. 90003 90024 It’s Okay to Set Rules and Stick to Them 90025 90002 One of our tenant families was constantly five to 10 days late with their rent for two years straight.And even though the lease said I was technically allowed to charge a $ 10-per-day late fee, I never did. 90017 Not once. 90018 What happened? I was simply being too nice. 90003 90002 It all started with the first month they were late. It did not seem like a big deal to me, so I told them not to worry about it. «Just pay when you can,» I said. And that’s exactly what they did. 90003 90002 Unfortunately, they continued to pay when they could, every month after that. And because I had been so nonchalant about it those first few months, it became harder to put my foot down as time went on.I was also non-confrontational at first, which is almost the worst thing a landlord can be. As a result, they were late with their rent for two years and I spent countless hours stressing out over the situation. 90003 90002 I’ve learned since then that it’s okay to stick to the terms in the lease — even if those terms end up costing someone else money. In fact, setting firm ground rules is the best way to let tenants know that the rules matter, and that there are consequences for late rent payments, damages, or anything else.90003 90012 Buying Rental Properties Was an Excellent Choice … For Us 90013 90002 Although we were far from experts when we got started, I strongly believe that buying rental properties is one of the best financial moves we have made. First of all, we bought our properties near the bottom of the market which means they have already increased tremendously in value. And second, we’ve secured a future income stream that is separate from all of our other retirement accounts and not necessarily subject to the same risks.90003 90002 Although our properties do bring in a monthly profit, we currently use that money to pay for repairs and maintenance. Meanwhile, any overages go straight toward the loans in order to speed up their potential payoff dates. Our properties currently rent for a little under $ 2,000, but I do expect them to rent for significantly more in the next 10 years. Once they are paid off, all of that money is earmarked to help our girls pay for college and finance part of our early retirement dreams.90003 90002 Further, because of our penchant for real estate, we do plan on buying at least two more rental properties in the coming years. While I’m not quite ready to pull the trigger yet, I think we could benefit from having a few more paid-off properties in our portfolio by the time we retire. 90003 90024 Becoming a Landlord is Not for the Feint of Heart 90025 90002 Buying the right rental properties is a challenge in itself, but the act of being a landlord is by far the hardest part.However, owning rental properties can be the key to a great deal of profit and financial freedom if you do things the right way from the start — or at least learn from your mistakes along the way. 90003 90002 I would not change anything about our story, but I do wish I had known more about the business before we got started. If you are considering buying rental property, I hope you can learn from my mistakes 90031 instead of learning things the hard way. 90032 90003 90002 My best advice is this: Screen your tenants carefully and keep an eye on your property at all times.Do not be afraid to lay down the law if needed, yet be respectful of your tenants and their families — especially the most reliable ones. Also, save for the repairs you know about … and for the ones you do not. 90003 90002 Because, when it comes to being a landlord, anything that can happen probably will. 90003 90002 90017 Holly Johnson is an award-winning personal finance writer and the author of Zero Down Your Debt. Johnson shares her obsession with frugality, budgeting, and travel at ClubThrifty.com. 90018 90003 90002 90031 Related Stories: 90032 90003 90002 90017 Have you ever considered becoming a landlord? If you’re a landlord already, what do you wish you would have done differently? 90018 Tell us in the comments. 90003 .90000 Property investment: Is it still worth it? 90001 90002 Who’d be a property investor in 2019? 90003 90002 A capital gains tax might be off the table but there are still several changes happening that make it less appealing. Properties will soon have to be brought up to higher standards of insulation, ventilation and heating. Losses on rental properties are now ring-fenced, so they can not be used to offset other income. The bright-line test, applying income tax to capital gains, has been extended to properties bought and sold within five years.90003 90002 With the prospect of capital gains slimmer for the time being in many major centres, it might make you ask whether it’s a sector worth dabbling in, at all. 90003 90002 But many New Zealanders still cling to property investment as the best way to «get ahead» and prepare for retirement. 90003 90002 90011 READ MORE: 90012 * Did my real estate agent rip me off? 90012 * Property investors told: Worried about CGT? You’ve only yourself to blame 90012 * Trade Me: More Kiwis looking for homes in regional NZ 90015 90003 90002 Last year, 313,596 taxpayers — excluding companies — filed returns that declared rental income for residential, industrial and commercial property investments.90003 90002 Property investment is more tangible than shares. The fact you can borrow from the bank to get started also amplified potential gains (although it would also magnify losses). 90003 90002 Rental returns are getting better: Corelogic data shows since the start of 2018, rents have risen at almost double the rate of house prices across the country. 90003 90002 If you’ve been thinking you’d like to get stuck in, here’s how you might do it. 90003 90002 90011 Starting out: 90015 90003 90002 The easiest way to get started is probably to buy your own home first, build up equity in it (as prices rise, you pay down the mortgage, or both) and borrow against it.90003 90002 When you are buying your own home, you can use your KiwiSaver money and might be eligible for other grants — these are not available for investment property purchases. 90003 90002 At the moment, the banks are required to ask for at least a 30 per cent deposit from all investor buyers. 90003 90002 That’s a significant amount if you’re buying in Auckland, where the median price is now $ 856,000, according to the Real Estate Institute ,. 90003 90002 But if you bought a house five years ago, when the median in Auckland was $ 570,000, you might have built up enough equity to borrow against to buy another place, particularly in a cheaper area.90003 90002 Broker Glen McLeod, of Edge Mortgages, said banks would allow buyers to increase the debt against their own homes to up to 80 per cent of the property’s value. They could then use that money as a deposit on an investment. 90003 90041 90002 90043 SUPPLIED 90044 90003 90002 Graeme Fowler: If you have a safe investing strategy, you do not need to worry about short-term price movements. 90003 90002 If you do not have a hope of getting that much deposit together, McLeod said there were other ways.90003 90002 «We have a couple of non-bank lenders that will enable customers to borrow up to 80 per cent or 85 per cent [of the purchase price] depending on the circumstances.» 90003 90002 He said this would sometimes mean paying a higher interest rate. 90003 90002 McLeod said banks would look more favourably on an application from a new investor if there was no short-term debt or the borrower could consolidate it with the new loan. 90003 90002 Banks include 75 per cent of projected rental income in their calculation of whether you can afford to pay back the mortgage.90003 90002 90011 What to buy 90015 90003 90002 Investors usually approach their purchasing decisions with one of two aims: Either buying a place where rent will more than cover the mortgage, and give an ongoing stream of income, or picking somewhere where they expect capital gains . 90003 90002 Generally, more expensive houses have yielded better capital gains but poorer rental returns. 90003 90002 If you bought a Southland house, which Massey University’s latest survey shows are the most affordable in the country, and it increased in value by 10 per cent you’d make about $ 30,000.90003 90002 But if you bought a Wellington house, you’d make just over $ 60,000. 90003 90002 Property investors solely seeking capital gains might hold off in the current market where prices are showing weakness. 90003 90002 But those looking for income can probably find opportunities, regardless. 90003 90002 Corelogic data shows that someone who bought a house at the average value in Wairoa would get an annual return of 9 per cent on their investment at present — about three times what you might get in a bank savings account.90003 90002 «Add in the growth that some of these areas have also seen in property values ​​over the past year and the total returns look even more impressive — typically at least 20 per cent for the areas in this list,» said researcher Kelvin Davison. 90003 90002 He said while the lowest-yielding suburbs, all in Auckland, had «depressing» yields as low as 1.3 per cent and property values ​​sliding, that was after huge capital gains in recent years. 90003 90002 90011 Strategy 90015 90003 90002 Over recent decades, investors have ridden capital gains to increased wealth — seemingly without having to do a lot.90003 90002 Economist Cameron Bagrie, of Bagrie Economics, says that situation has changed and many will need to reassess their strategy. 90003 90002 Graeme Fowler, a property investor and mentor, said it was harder to use property to create wealth quickly in a slower market. People would usually do this by buying, renovating and selling for a profit. 90003 90002 «This is far more difficult to do in a declining market because when it comes to sell the property maybe a couple of months later, prices may have dropped even further.Also, there are a lot less buyers around to purchase properties in a down market and the property trader may get stuck holding these trade properties for a very long time. «90003 90002 But he said those who were buying and holding — a strategy he called «wealth retention» — could benefit in a declining market. 90003 90094 90002 90043 STUFF 90044 90003 90002 Remuera is the site of good capital gains, poor rental returns. 90003 90002 «When the supermarket has a sale, people rush in to buy way more than what they normally would — as they’re getting a bargain.When the property market has a sale, most investors run away from it like a scared cat, however the smart investor would be like the smart shopper and look seriously at buying more. 90003 90002 «So, if you can purchase rental properties at a bit of a discount with good yields, above 7 per cent gross, then it does not matter at all what prices are doing. What the property may be worth 20 to 25 years later when the mortgage is fully paid off is of very little importance. » 90003 90002 He said some investors would try to use buy-and-hold strategies to create wealth, hoping to ride house prices to big gains.90003 90002 «For these investors, they are always concerned about what property prices are doing, trying to guess what’s going to happen and waste a lot of their time thinking about something they have no control over. By having good safe strategies in place — what prices do over a five-, 10, 20-year or longer period has no effect on their overall plan, as it will work well no matter what property prices are doing. » 90003 90002 He said investors should build a solid foundation and a safe strategy, paying down mortgage debt each year.90003 90002 «By sticking to the basics, I mean buying properties that are the typical type of property that tenants like to rent in your chosen location. Where I live in Hawke’s Bay, the easiest and most popular properties to rent are three bedrooms, a good size section, post 1960s and preferably have a garage as well. » 90003 90002 He said investors with yields too low could hit cash flow problems if they had to pay for maintenance or to meet new regulatory requirements. 90003.90000 Is it worth buying a leasehold property? 90001 90002 In leasehold limbo land! Check leases carefully before you buy a property as freeholder abuses will not be sorted overnight 90003 90004 90005 90006 Thanks to random hikes in ground rent, thousands of properties are now potentially unsaleable 90007 90008 90005 90006 The Government has promised to put an end to this abuse on future new-build homes, and to cut ground rents on new flats to as low as zero 90007 90008 90005 90006 But this will not happen overnight 90007 90008 90017 90018 By Angela Epstein for the Daily Mail 90019 90018 Published: 90021 11:37 BST, 4 August 2017 90022 | Updated: 90023 16:01 BST, 4 August 2017 90022 90019 90018 Welcome to limbo land — the undesirable place now occupied by countless home owners caught in the eye of the leasehold scandal.90019 90018 It’s where, thanks to random hikes in ground rent, thousands of properties are now potentially unsaleable. 90019 90018 Though the Government has promised to put an end to this abuse on future new-build homes, and to cut ground rents on new flats to as low as zero, this will not happen overnight. 90019 90032 90032 90018 The Government said that it wants to ban leases on new houses restricting ground rents to as low as zero 90019 90018 As well as escalating ground rent, there is the fear of unexpected maintenance costs.For example, contributions to the purchase of a new lift in a block of flats — even if your apartment is on the ground floor. 90019 90018 ‘When you go for a viewing, look at the state of common areas such as the entrance hall or gardens,’ says Danielle Clements, a property lawyer with Gorvins solicitors. 90019 90018 ‘If it looks shabby, it could be that the landlord will do major works or decoration to bring the property up to standard. They will recoup such costs through the service charge. ‘ 90019 90042 FACTBOX TITLE 90043 90018 The Government said in the housing white paper published earlier this year that it wants to ban leases on new houses.90019 90018 The Communities Secretary Sajid Javid followed this up by outlining his plans that also included restricting ground rents to as low as zero. 90019 90018 He said: ‘It’s clear that far too many new houses are being built and sold as leaseholds, exploiting home buyers with unfair agreements and spiralling ground rents. 90019 90018 ‘Enough is enough. These practices are unjust, unnecessary and need to stop. ‘ 90019 90018 This means if you buy the property, you could receive a huge service charge invoice next year or the year after.90019 90018 The varying cost of ground rent — the annual payment made by the buyer of the property to the leaseholder who owns the ground it is built on — is largely responsible for the current crisis. 90019 90018 ‘It may be a «peppercorn» amount — effectively nothing to pay — or a very large sum, with the possibility of future escalations,’ says Anthony Essien, the chief executive of LEASE, the Leasehold Advisory Service. ‘In some cases the ground rent could double every ten years.’ 90019 90018 To avoid getting caught out, read the lease carefully, or get a solicitor to help you.90019 90018 ‘If ground rent is payable, it’ll usually be spelt out in the first or second page,’ says Mr Essien. ‘Alternatively, it may be set out in a «schedule» towards the end of the lease.’ 90019 90018 But unexpected costs do not stop with ground rent. 90019 90018 ‘In leasehold flats, which are usually on a shorter lease, in addition you will need to pay a service charge and potentially insurance rent [a contribution to buildings insurance put in place by the landlord],’ says Ms Clements. 90019 90018 To avoid getting caught out, read the lease carefully, or get a solicitor to help you 90019 90018 These are the fees that owners pay to cover their share of the cost of maintaining the building and usually cover repairs and maintenance to shared areas and the outside of the building (such as the roof and drains), buildings insurance and freeholders ‘administration or management charges.90019 90018 They can also be used to pay for shared services, such as a caretaker or cleaners. 90019 90018 If work needed on the building looks likely to cost more than £ 250 per leaseholder, there should be a consultation procedure which starts with the service of a notice by the landlord. 90019 90018 If this has already taken place it ought to be disclosed as part of the sale or purchase process. 90019 90076 90076 90018 One, two and three-bedroom flats at Orchard Wharf in East London — via Galliard Homes — all have a 175-year leases and are on the market from £ 456,000 90019 90080 90080 90018 This five-bedroom penthouse in a Grade -II listed building in the grounds of Southampton’s Royal Victoria Country Park comes with a share of the freehold and is being sold via Hunters for £ 695,000 90019 90018 Another key point to remember is that as a leaseholder, you have to ask the freeholder’s permission if you want to make changes to the property, such as installing new windows or adding a conservatory (this is on top of planning permission) — something which can cost as much as £ 2,500.90019 90018 ‘Above all, go over the lease before exchanging contracts and make sure you get the right advice.’ says Mr Clements. 90019 90018 In limbo land, it really is a case of let the buyer beware. 90019 90090 90090 90018 This second floor flat in Chislehurst in Kent has a 99 years left on the lease and is being sold via estate agents Yopa for £ 375,000 90019 90018 90019 90042 Share or comment on this article: 90043 .90000 Here’s Why Ingevity (NGVT) Stock Is Worth Buying Right Now 90001 90002 90003 Ingevity Corporation 90004 (NYSE 🙂 is an attractive play for investors seeking exposure in the specialty chemical space. The company has seen significant upside to its stock since its shares started trading on the NYSE in May 2016, following its separation from the WestRock Company. Its shares have also popped around 39% year to date. 90005 90002 Sustained earnings outperformance, strong execution, cost discipline and organic and inorganic initiatives have contributed to the growth story of this producer of specialty chemicals and activated carbon materials.90005 90002 Ingevity has an impressive earnings surprise history, having outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering a positive average earnings surprise of 19.8%. 90005 90002 The stock is expected to continue its upward momentum based on strong oilfield business recovery, growth in activated carbon demand and significant synergy capture from Georgia-Pacific’s asset buyout. 90005 90002 Ingevity currently has a Zacks Rank # 2 (Buy) and a VGM Score of B.Our research shows that stocks with a VGM Score of A or B combined with a Zacks Rank # 1 (Strong Buy) or # 2, offer the best investment opportunities for investors. You can see 90003 the complete list of today’s Zacks # 1 Rank stocks here 90004. 90005 90002 Let’s delve deeper into the factors that make Ingevity stock an attractive investment option at the moment. 90005 90002 90003 Price Performance 90004 90005 90002 Ingevity has outperformed the industry it belongs to over the past year. The company’s shares have shot up 24% compared with roughly 3.5% decline recorded by the industry. The company has also outpaced the S & P 500’s gain of 4.5% for the same period. 90005 90024 90002 90003 Upbeat Outlook 90004 90005 90002 Ingevity, in October, increased the mid-point and narrowed the range for its 2018 guidance for adjusted EBITDA to $ 306- $ 314 million from $ 302- $ 314 million. The company reaffirmed its sales guidance of between $ 1.10 billion and $ 1.13 billion for the year. 90005 90002 Sales growth in the oilfield industry on the back of higher U.S. drilling and production is driving revenues in the company’s Performance Chemicals division. Moreover, sustained adoption of the company’s solutions geared to meet the U.S. EPA Tier 3 and California LEV III emission regulations is contributing to the growth in the Performance Materials unit. Ingevity is poised to benefit from an expected rise in activated carbon demand on the back of the anticipated early adoption of China’s new gasoline emissions standards (the China 6 national standard) by some municipalities and regions.90005 90002 The company is also well placed to benefit from its buyout of Georgia-Pacific’s pine chemicals business. The acquisition contributed to strong growth in sales of the Performance Chemicals division in the third quarter. The acquisition is expected to create net synergies of roughly $ 11 million through manufacturing optimization, lower logistics costs and leveraged procurement costs. 90005 90002 The Performance Chemicals segment should also benefit from higher adoption of tall oil fatty acid (TOFA) -based products.Healthy TOFA pricing is also providing support to the margins of the division. 90005 90002 90003 Healthy Growth Prospects 90004 90005 90002 Growth prospects for Ingevity appear encouraging. The Zacks Consensus Estimate for earnings for 2018 for Ingevity is currently pegged at $ 3.85 per share, reflecting an expected year-over-year growth of 49.2%. The same for 2019 stands at $ 4.77, indicating a year-over-year growth of 24%. Moreover, earnings are expected to register a 73.3% growth in the fourth quarter.The stock also has a long-term expected earnings per share growth rate of roughly 12%, higher than the industry average of 10.6%. 90005 90002 Revenues for Ingevity for the fourth quarter is projected to rise roughly 15.4% year over year as the Zacks Consensus Estimate for the quarter is currently pegged at $ 264.9 million. Revenues for 2018 are expected to increase 14.9% year over year as the Zacks Consensus Estimate for the year is $ 1.12 billion. Ingevity’s revenues are also expected to register a 10.1% growth in 2019. 90005 90002 90003 Rising Estimates 90004 90005 90002 Earnings estimate revisions have the greatest impact on stock prices. Stocks with rising estimates have significantly outperformed the year after year. 90005 90002 Annual estimates for Ingevity have moved north over the past two months, reflecting analysts ‘confidence on the stock. Over this period, the Zacks Consensus Estimate for 2018 has increased by around 3.5%. The Zacks Consensus Estimate for 2019 has also moved up 2.1% over the same timeframe. 90005 90002 90003 Shareholder Returns 90004 90005 90002 Ingevity is also committed to deliver value to shareholders leveraging healthy cash flows. The company continues to examine options for utilization of cash. Last month, its board authorized an additional share repurchase worth up to $ 350 million. The share repurchase is in addition to the $ 100 million share repurchase program approved in February 2017. 90005 90002 Ingevity generated $ 110 million of free cash flows at the end of the third quarter.The company has raised its free cash flow guidance for 2018 to $ 120- $ 130 million (from $ 105- $ 115 million) factoring in strong operating performance of its segments. 90005 90002 90003 Other Stocks to Consider 90004 90005 90002 Other top-ranked stocks worth considering in the basic materials space include The Mosaic Company (NYSE :), CF Industries Holdings, Inc. (NYSE 🙂 and Ashland Global Holdings Inc. (NYSE :), each sporting a Zacks Rank # 1. 90005 90002 Mosaic has expected long-term earnings growth rate of 7%.Its shares have surged 52% in the past year. 90005 90002 CF Industries has expected long-term earnings growth rate of 6%. Its shares have gained 14% in a year. 90005 90002 Ashland has expected long-term earnings growth rate of 10%. Its shares have gained 12% in the past year. 90005 90002 90003 Wall Street’s Next Amazon (NASDAQ 🙂 90004 90005 90002 Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.90005 90002 90003 Click for details >> 90004 90005 90002 Ashland Global Holdings Inc. (ASH): Free Stock Analysis Report 90005 90002 Ingevity Corporation (NGVT): Free Stock Analysis Report 90005 90002 The Mosaic Company (MOS): Free Stock Analysis Report 90005 90002 CF Industries Holdings, Inc. (CF): Free Stock Analysis Report 90005 90002 Original post 90005 90002 Zacks Investment Research 90005 .