Kevin & Sharon Kennedy's Blog
WHY THE NAUTILUS?
We chose the nautilus shell as our logo for many reasons, including the connection to the water with our proximity to Long Island Sound. Additionally, the spiral shape is cool. The nautilus shape follows the geometrical pattern of the Fibonacci Sequence. So not only is it beautiful, it is logical and has a smooth flow. What ever spiral comes your way while buying or selling a home, we will use logic to make the transaction as smooth as possible.
Is investing in a second property the best decision for you? If you've found yourself with a little bit of extra liquidity, you might be considering investing in additional property, a startup company, or adding to your general investment fund. What makes a second home or property a good move for your future?
If you have the opportunity to purchase a second home, consider a vacation house for your family. Do you have a favorite family vacation spot that you visit every year? Buying a second home in this area instead of renting a house or cabin every year for the next 20 years is an investment in a second home that starts earning equity from your vacations. Establish a place for your family to make countless memories together. If you vacation with your extended family, consider co-investing with your family members to get more use out of the space. You can take turns using the house and have a wonderful place to gather everyone together for holidays and special events. If you decide to invest with other people, make sure you designate how the property will transfer to your heirs and consider establishing an LLC that oversees the transfer of property. If you purchase the home yourself, you can rent the space to your relatives for their vacations, or (bonus!) turn it into a vacation rental during the time you aren't able to use it. See more ideas for cash flow returns on a second property investment below.
If you don't see yourself establishing a vacation home, but you think you want to use your funds to invest in another property think about the different opportunities to create an income property for yourself. Purchasing a rental home or multi-family building can be a significant cash flow option if you're able to manage the ongoing mortgage commitment, tax responsibilities, and upkeep. Find a property that you can successfully manage and start reaping the benefits of your new investment. Your investment property can continue to serve you for years and may even be the right solution for your retirement plan when you go to resell it.
Things to Consider
There are a few aspects of your current situation you should review before committing to your second property. Will your financial situation remain stable for the foreseeable future? Will you be able to continue managing payments and upkeep if your job changes or if you don't live in the area of your investment? Is the property in an area that vacationers or renters find desirable? Will you be able to maximize cash flow if or when you aren't using the property? If you determine the answer is yes to these questions, then investing in a second property might be just the next move for your portfolio.
Before you invest, speak with your trusted real estate professional to make a plan for securing the best investment for your life and future.
Has your house become someplace that doesn't quite feel like the home you want? Maybe it’s dull or dreary or just not your style anymore? Perhaps you’re on a tight budget, or don’t feel that you have the time to go out and redo your entire space — no worries you don't have to re-design the whole room to freshen it up and breathe life back into it.
Start with a vision
What about your space bothers you or just doesn’t feel like you anymore? Are there certain colors that you would like to see? Or maybe some that you wouldn’t? Determine if the furniture that you have fulfills your needs. If not, this may be the place that you splurge a little since proper functionality is essential to help you enjoy your environment while you are using it. Also, consider if you would benefit from rearranging the current set-up in your space. It may look like it is stuck where it is, especially if it has been there a while, but measure out what you have and see if you have other options. If so, then give them a go. It is a good idea to move the larger things around, even if you don’t think it will remain that way, as this will give you a chance to clean under and around anything that hasn’t been moved recently and may give you new ideas once you see it from a different perspective.
Bring on the accent pieces
Once you have the furniture figured out, the easiest way to change the appearance of a room is with accent pieces. These include throw blankets, accent pillows, bedding, art, lamps, plants, and even candles. Throw pillows are one of the least expensive and easiest places to start. New cushions, or different pillow covers, change both the color and style of your space. If it is the bedroom, then the bedding is a good starting place considering the bed probably takes up most of the room.
Plants are a great way to update your space and also an excellent source of fresh air and, depending on what type you choose, pleasing aroma as well. Art and lamps don’t have to be grand but can significantly impact the appearance of your setting dictating the tone in both style and coloring. Keep in mind the sizes and shapes that enhance the furniture, arrangement, and room where you will be putting each of these.
Once you have determined all of these variable factors and decided where you want to take your décor, the only thing left to do is to shop for the new elements that you have chosen and put them in place. Online, resale shops and your local antique, department or outlet and clearance stores are great places to find the treasure that re-imagines a plain, old space into your own again. Have fun with the process and enjoy your home once more!