With the continued growth in luxury living, new properties are coming up every other day with better designs, modern finishing and integration of technology into such inventories. This has pushed prices upwards. But even so, great properties are still out there for varied budgets. We are convicted that investing in real estate can be made easy.
In this piece, we offer you 3 smart tips that will help you see that it is possible to acquire a dream property for your budget.
Consider investing in real estate properties that require renovation (fixer-uppers)
Fixer-uppers are properties that have been listed in the market but require repairs. It is easy to ignore them given their conditions, but they could just be the properties you want to invest in.
Most fixer-uppers will be priced below your budget for a new property.
By purchasing a fixer upper, the rest of the money saved up can go into upgrading the property to your liking. That means you are able to redesign it and transform it to your preferences, which might have otherwise been expensive to execute in a new property.
However, be careful to avoid fixer-uppers that have red flags say a crumbling foundation.
Do not ignore old listings
It is easy to ignore old listings because the general assumption is that the listings have issues. Most often this is not the case; it could just mean that the pricing of the properties were just too high from the start.
Some sellers will take some time before lowering the price, causing the properties to just hang out on the market. Don’t just search new listings, you could miss out on great properties that have had price adjustments.
Position yourself for information
Real estate agents are always seeking to sell. Even if a property is not on the market yet, your agent will have everything to gain by sharing the information about what is coming up. That means, with proper follow up, your real estate agent can give you an inner scoop on what to consider, 3 to 5 weeks before they get to list.
There you have it, choose a real estate consultant to walk you through this process to save up even more. We are happy to help!