With the economy on a slow rise back to normalcy, many are still unsure of whether they should be buying or selling a home. Despite the uneasiness you may feel, you don’t necessarily have to stay put.
For people looking to buy, now is a very good time, especially if it’s your first-time as a buyer, investors and existing homeowners who are looking to upgrade to purchase a property or just looking to liquidate their investments to increase their cash flow.
The hard fact is that waiting to buy that property isn’t a wise decision as thr costs are predicted to rise in the coming year so you’ll want to move fast.
Weather the unsteady economy and live your dreams with the tips below.
Think about location
Whether you’re a first-time buyer, investor or existing homeowner, you need to understand the best locations for your investment, buying the smallest house on the best street versus the largest house on a less preferred street will reap big rewards when it comes time to sell in the future.
Think about a condo
There’s a surplus of inventory in the condominium market, so your realtor should be able to negotiate a good deal for you when it comes to buying a condo. If you’re buying as an investor, rather than a first-time homebuyer, you will want to consider leasing out your suite for the next four to five years before selling.
Know your pocket
It’s best not to just assume your purchasing power is in order. To avoid getting any surprises before you meet with a lender, check and be sure you have enough to buy a house in the first place so you have time to resolve any issues that might stand in your way of buying.
Know your price range and stick to it
Once you know how much you can spend it becomes easy to narrow down your choices. It’s safer to buy within your budget, no matter the economic situation.
Think of getting a house on the outskirts
Sometimes it pays to go further out of town to purchase a property. Although this is always subject to your taste or what you’re looking for. If you want more space and more property, but have a budget to stick to, a downtown location won’t do. You have to widen your circle of prospective locations.
Our team at Osekemi Properties would be glad to assist with your needs. Get in touch with us today for expert advice and properties that up for sale / lease.