Factors to Consider when Investing in Real Estate

Friday, August 1, 2014

Do you want to get in on the action of the red hot Vancouver real estate market? Don’t rely on pure instincts and inexperienced agents as you search for your investment property. With the help of a seasoned local Realtor®, you can find the house or condo where you’re sure to recoup your expenses, plus profits.
Here are some factors to consider when investing:

When investing in condos
First and foremost, look for an advantageous location like the middle of the business district or somewhere close to the suburbs. Find a reliable developer who has been to known to produce units with quality craftsmanship and attractive design. Crunch the numbers, such as the price of the unit and maintenance expenses versus the rent you can collect or the projected appreciation rate if you will sell it.

When spotting investment houses
Look for a new or well-maintained house in an in-demand neighbourhood, so you have better chances of receiving multiple offers or selling over the asking price. Be sensitive to inflation rates and real estate trends to know the perfect time to sell or hold on to your property. Aside from Canadian residents, market to foreign investors.

When flipping properties
Make sure that the property is fairly priced even if it seems like a bargain already, and have your agent negotiate with the seller’s agent. Plan the renovations based on the remodels that actually add value, such as those that make a home more suitable for retiring boomers.


Popular Posts