Are you Buying a Home?
If you are investing, surely you do not want to have a home that does not offer you any revenue as time passes. However, in reality, people end up buying a home that offers them no returns even after 20 years! Whether you want to live in a house, put it on rent, or you are buying the home as an investment, you need to be careful in your selection. Ultimately it is all about maximizing your returns and purchase a home that will appreciate. If you are worried or unsure how to make a good purchase, we got you covered! Here we are sharing the top 4 secrets to finding a home that will appreciate and will give you the leverage of making an informative decision when buying a home.
Find a Suitable Area
When you make a purchase, do not fall for the lower prices and buy in areas that have fewer developments. While you may be able to afford a big house in a less well-to-do area, if you are a smart buyer, you should settle for an average size house in a stable area where you do not risk any depreciation to the property. Make it a point to assess the location and its strong points before buying the property. Homes that are near other residential and commercial projects, and close distance to schools, hospitals, entertainment options, will give you better return compare to buying homes in slow areas with no development in sight.
Ensure Proper Maintenance
If you want to sell your home after a few years, it is better to keep the collection of your maintenance records in hand! People are more comfortable in knowing that you have kept your home maintained and will be willing to pay a premium for homes that are well-kept over the years.
Take Advantage of Offseason Purchase
If you can wait, it is in your best interest to buy during winters, the offseason for property dealing. You will come across sellers who are in a hurry to sell, old listings that are still pending, and some lower interest mortgage options for the end of the year. Overall you will be in a position to bargain more and find a right home at a lower price that you would have pay in peak seasons.
Choose your Financing Wisely
Unless you are willing to pay the full price, you are most likely to look at mortgage options. Always make sure you go for a lending option that meets your requirements. You will have to pay interest over the borrowing, and you need to have a full understanding of your objectives before you get the financial backing to buy the home. Consider your options such as the number of years you see yourself in your new home, the number of renovations you can afford, and when do you prefer to sell the house. It would be best if you also sat down with a financial advisor to guide you in your financing options. Not only borrowing will help you in purchasing your dream house, but if you borrow right, you will end up making good money when selling the home.
Do not get hasty in your
decision when looking for a new home. Play it safe and work with financial
advisors who can assist you in making a sound decision that will pay off in the
Find an Affordable Mortgage Solutions
With a career spanning over 30 years, Jacques Poujade is a financial expert serving as a Managing Partner at LendPlus. Mr. Poujade holds a degree in Finance from McGill University and a Bachelor’s Degree with a major in commerce, from Concordia University, Loyola Campus. He has vast experience in financial, mortgages, and loan management, and he is one of the most sort out advisors for lending and alternative debt options. He and his team at LendPlus are ready and willing to help everyone to buy their dream home and find affordable mortgage solutions.