If you have money in your bank account and want to put them to good use instead of leaving them to catch dust, it would be a wise financial decision to consider investing! There are many places to put your money in when it comes to investing, but even with the number of promising investments to choose from, you can never go wrong with real estate.
Investing in real estate can sound overwhelming and complex, but it doesn’t have to be! The first thing that might cross your mind when you think of having a real estate business may include apartment buildings or other types of multi-family homes, but your choices aren’t limited to only these kinds of properties.
Not everyone has to own a sizable residential establishment to make a worthwhile investment. You see, sometimes, smaller is better. With that said, you may want to consider investing in single-family homes instead.
Now, don’t be fooled by the size of the property! Although single-family homes are considerably smaller than apartment buildings, starting with this kind of property proves to be the perfect real estate investment to begin with.
If you’re still not convinced in hunting for a single-family property for sale near you, then these reasons below may change your mind:
Becoming a successful real estate investor doesn’t just involve owning rental property; managing the place is crucial for being an investor. For beginners dipping their toes into property investment, we recommend single-family homes as they are much simpler to manage and maintain than apartment buildings.
Instead of taking care of an enormous undertaking, you only have to mind a small area, so you’ll have fewer headaches. Moreover, with single-family homes, you only have to deal with one tenant at a time—you’ll have the chance to do the right diligence and find the perfect tenant to rent out your property to.
The great thing about investing in a single-family home is that you get the best of both worlds—on top of receiving rent from your tenant, the value of your property increases the longer you own it!
Compared to multi-family homes, single-family homes appreciate at a much faster and higher rate. Instead of worrying about rents and market conditions affecting the value of your property, you only have to be concerned about the supply and demand.
Unlike multi-family homes that can only appreciate if rents were to rise, single-family houses are always in top demand, so they’ll sell much quicker and have more liquidity.
If you’re looking to earn passive income from real estate investments, then investing in single-family homes is the best investment strategy to have. With the help of a professional, you can turn your investment property into a source of passive income without doing much work. As long as you do everything right, you’ll get to sit back and reap the profits from your property investment!
When it comes to starting a real estate investing career, you’ll never go wrong with a single-family home! Of course, even with the advantages single-family homes bring, there are no guarantees of success. To increase your chances of a worthwhile investment, make sure to work with an expert to guide you through the process.
Are you looking to invest in a single-family house for sale near you in Manitoba? Then, let me, Chris Low, help you find the perfect property for you! While at your side each step of the way, I will make the process of purchasing a home easier, more enjoyable, less time-consuming, and less expensive than if you undertook this challenge on your own. Connect with me today to get started!
The things that run in your head are as big as the house you are looking forward to calling your home. You can’t wait to take a tour and see the neighbourhood. But after the excitement of touring and cherry-picking the best property, you are left with the biggest decision of whether to buy it or not. What’s the next step? How long will it be before you are holding the set of keys and opening the doors of your new home?
As a first-time homebuyer, you need to know the basic steps in buying your very first home. Consider hiring a home value estimator to guide you in making an offer—they are one of the few professionals you will need to consult with during this process.
Below is a checklist of what you need to look into before making the final decision.
It is wise to get a realtor on your side to help you narrow down your choices and find the right home for you. As experts in buying and selling properties, realtors can guide you through choosing a house and all the complex steps involved in the process of buying it.
What’s best with having a realtor with you is you are assured that your best interest is their priority, and your budget preference is at the top of their list!
You need to determine how much you can afford by identifying your debt-to-income (DTI) ratio. This is how lenders gauge your ability to pay back your mortgage loan. Basically, your amount of debt is compared to the amount of your income.
You can calculate your DTI ratio by getting the sum of your current monthly expenses such as rent, loan payments, credit card dues, etc. Your monthly payables that vary in amount should not be included in the sum. After getting the sum, divide it by your total monthly pre-tax income. If you have a high DTI ratio, you may have a difficult time getting your loan approved.
Now that you understand your DTI ratio, the next step is to partner with a mortgage lender and get preapproval for a mortgage loan. When your loan is preapproved, the negotiating process with your potential seller will go much more smoothly!
You can now get to choose a home based on your working budget. You can ask your realtor to look for homes for you or suggest some properties and schedule you for a view. When viewing a property, don’t be content with just looking at the house superficially. Check its parts to see if they are working well. Test the electrical system, check the plumbing, ask about the roof’s condition, you know the drill.
If you think you have found the one, make an offer. This is tricky, as it can be hard to gauge the exact amount you will offer. This is where your realtor steps in. Realtors usually compare sales data and other property values to help you come up with a reasonable price offer. Your realtor will take care of presenting the offer to the seller.
When the seller agrees on the offer, the house is yours! The next step is to conduct a home inspection to check the property from top to bottom and an appraisal to get an estimate of your home’s value.
The last part of the process involves the signing of documents for your mortgage and all legal papers. After a successful property title transfer, you can now move into your dream home!
Arming yourself with the correct information when house hunting is the key to finding your dream home. The steps mentioned above will surely do you good in your quest for your home. So, choose wisely and seek the help of a realtor to help you make sound decisions.
Buy or sell a commercial property with the help of a realtor. Chris Low is here to help. Whether you want to see a listing in person or just have a simple question, you can contact me at any time. Reach me through email: email@example.com or phone at (204) 573-5699.
The Canadian real estate market scene is seeing substantial growth lately as it bounces back from the economic downturn experienced in 2020. Brandon, one of the country’s centers for agriculture, is one particular city that’s giving way to several prime investment opportunities for savvy entrepreneurs. On the other hand, if you’re looking for a new place to settle in and start anew, Brandon might just be the perfect place for you with lots of housing options. Let’s dive in on the current state of Brandon, Manitoba’s real estate market, and why it’s a great place to invest in.
As far as any city in Manitoba goes, the city of Brandon is enjoying record-breaking sales activity and prices as it experiences steady growth this year. As public health restrictions are starting to ease, that growth is more likely to continue and improve in the coming months. Some of the highlights of the Brandon housing market include:
Recent data on the real estate market shows that there’s steady growth in the city, very much like all markets across the province, with few roadblocks on the horizon to quell this heated activity. Whether that can be sustained or not remains to be seen, but looking at how many cities are opening up and upscaling their vaccination drives, there really is nowhere to go now but up.
With the demand for real estate increasing, residential sales of single-detached homes have advanced significantly. According to the Canadian Real Estate Association (CREA), it enjoyed a 133.3% year-over-year increase in February, totalling 56 units. Overall, in the first two months alone of 2021, home sales in the areas surged a whopping 111.4%, with 93 real estate transactions.
In terms of prices, houses in Brandon have recorded double-digit growth. The median sale price for single-detached homes increased at an annualized rate of 23% to $309,900. On a year-to-date basis, which industry observers consider to be more comprehensive, it rose 14.2% to $274,000.
One of the biggest concerns of many people in Canada and the rest of the world is how the real estate markets could become largely unaffordable due to the fallout of the coronavirus. This is due to the increase in supply with little to no demand in the markets in 2020. This year, however, many of Canada’s housing markets have already bounced back while still staying within the range of families’ budgets.
Despite being Manitoba province’s second-largest city, Brandon still possesses that small-town charm that many of today’s homebuyers are looking for. It is, in its essence, an agricultural town dubbed as the "Wheat City of Canada" where life is a little simpler than bigger cities. If you’re interested in the residential and commercial real estate of Manitoba, particularly in Brandon, now’s a great time to invest.
If you’re a home buyer or an entrepreneur who wants to buy or sell commercial property, you’ll need a reliable REALTOR® you can trust. Chris Low is just the person you need who has the experience and technical know-how to help you buy or sell a house in Manitoba. When you are ready to see a listing in person, or just have a simple question, contact Chris Low REALTOR® today.