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.
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