Using Options To Buy Langley Real Estate!

Ever find yourself asking what the best way to reduce risk is Well there are many investment strategies that are used to meet the increasing demands of the sellers. So structure a deal to fit the goals of the buyer, and the seller. The best single strategies to use is the use of options. When you use an option you maximize potential of profit, and reduce risk to your purchase. You are essentially buying time to allow a right for purchase at today’s agreed upon price in today’s market. In exchange for this right you must give some consideration. Here’s the advantage. If you use an option you have one hundred percent control of the situation. For example, if you pay a property owner $10,000 for the option to buy his or her property at the end of 18 months, you shall truly benefit from this arrangement. In today’s Fraser Valley Real Estate market there’s a good chance it will go up in value. You will cash in on this price increase. Options give you time. Clear, clean and simple! In real estate, you want to have time on your side whenever possible. You’ll only need to come up with a small amount of money in order to gain with limited risk.

What if you don’t have five or ten thousand for a down payment

You can use sweat equity to purchase real estate with zero cash. What is sweat equity This is when you are a skilled individual and you are doing something to improve the value of the property you want to purchase. Say you find a house that needs some cosmetic work done. For Example, if you paint the property, that improvement will likely increase the value of the property. Understand that mostly any investment property in the Fraser Valley, Lower Mainland and all other area’s of Greater Vancouver are capable of adding value to a property through some from of sweat equity. Ask yourself what your talents are and what you can accomplish. You can use this form of equity to capitalize on using it as part or all of your down payment. When you approach the owner of a property you must assure him or her that the work will be done quickly. Simple fixing up, new paint, new landscaping, Front Door and other added changes can boost the value of the property overnight! Selling your sweat equity talents might require you to be a good sales individual. Remember you must have confidence in what you are doing. However, and aggressive sales person is often a turn off. Often the low-key approach works well. If you have examples of your past work, this is the time to show it off! If you agree to fix up the sellers apartment building, paint the walls, redo the landscaping, give the option to buy at the end of 18 months at today’s price. Ask him or her, “what do you have to loose”. The answer is nothing! This is just one way to show a win-win situation. If your ready to risk your time and effort to increase the value of the property, the seller will sometimes see your point of view.…

Things to Consider When Purchasing a Condo in Toronto

Buying a condominium seems like the perfect thing to do when you live in a city like Toronto. Single family stand alone units in big cities like Toronto are often incredibly expensive, and come with all the hassle of upkeep and property taxes. Houses in the suburbs come with the same concerns, and although they might be less expensive they tend to cause more aggravation, especially for people who need to get into the city frequently for work or even for entertainment.

Buying a condo can mean all of your needs are addressed in one solution. Condominium complexes are constantly being developed all over town, so the odds are very good that there is a complex located within a reasonable distance of where you work. Condos are also close to all that the city has to offer in terms of entertainment, from hockey games to restaurants to theatre. There are several things that all buyers should keep in mind when it comes to purchasing a condo in Toronto.

Investment?

Often condominiums are bought with the idea that they are good starter homes, and that when the purchaser is ready he or she will move out and buy a suitable family home. There is debate within the real estate market, though, about how close to truth this concept really is.

Condos are not usually cheap, although they may be less expensive than a single stand alone dwelling in the same neighbourhood. In order for your purchase to be considered a good investment, it has to rise in value and keep pace with houses outside of the city, so you will have the equity you need when the time comes to upgrade. Condos, however, are not noted for their resaleability. Just drive around the city and see how many new developments are going up. This trend is bound to continue, and that means that you will always be competing with newer units in the same area when it comes time to sell.

Another financial consideration is membership fees. Sure, you are saving in property taxes, but membership fees are just as constant and will rise over time, sometimes dramatically. Factor this in carefully if you are buying a condo as an investment.

Facilities

One big draw for a lot of condo purchasers is the leisure facilities provided in the building. In large part, these are what your membership fees will go towards. It is important to consider realistically if and how often you will be using the facilities yourself. If you buy in a building because of the great fitness and pool facilities, you will have to use them the entire time you live there or else the fees just are not worthwhile. It is not the same as getting a gym membership and then deciding not to go anymore; you have to pay membership fees regardless of the frequency with which you use the facilities.

Location

One of the great things about a big city like Toronto is that you can find a condo in just about any neighbourhood you want. If you lean towards historical parts of town, hot spots, ethnic enclaves, artsy districts, entertainment or financial areas as the places you are most likely to be found, you can find a development close by. No more long trips, all you have to do is walk down the street to find your favourite pastime. Alternatively, if you prefer a quieter location still within reach of the city, there are neighbourhoods like The Beaches that offer a casual atmosphere just a little way out of the action of downtown.

Don’t be rushed into buying into the latest condo development simply because units are going fast. The best way to buy a condo is to make sure of your reasons for getting one in the first place, and then selecting the neighbourhood where you would like to buy. There is enough development in Toronto to ensure that your dream purchase will be available sooner or later.…