Keeping you updated about what's happening in Real Estate and in the Fraser Valley!

Whether you’re a single or double income household busting at the seems trying to balance a cheque book and a nocturnal infant, or trying to figure out new ways to toss your alarm across the room everyday at 6 am, our lifestyle choice is a determining factor as to what purpose purchasing a second home would satisfy. 

 

 A second home can be utilized as an income earner throughout the year.


Most of us rent for many years before owning our first “standard home” and after some time may wish to sell it in order to purchase a second one. 

Assuming that the kids aren’t piled into one room and the roof isn’t leaking, why wouldn’t we consider

purchasing a rental property and adding to our portfolio? Think about this:

With the extra income you can jet set around the world. Ok,  maybe not the world… but it may just allow you the financial freedom to take your friends to the movies and spend $62 on popcorn and Twizzlers.

 

 

Real Estate is one of the smartest long term

investments you can make with your hard earned

cash and current equity.

 

So as you look at all your financial options for the upcoming year, ask yourself first and foremost; what results do I need from the investments I plan to make? Then analyze your options in the context of your goals. If you choose real estate, simply stick to the fundamentals, take action while others worry over headlines of global chaos, take advantage of the low rate environment and use leverage wisely. Invest and don’t speculate and both you and your children will be glad you did in the years to come.

 

Don’t pay for another hotel room.

We tend to leave the vacation home owners alone in their pleasures because we just can’t grasp how to incorporate that luxury into our own lives. But having a little cottage getaway where alarm clocks lay dormant may not just be the daydream we have during these gloomy West Coast winters.

 

Vacation properties can come complete with groundskeepers and maintenance men. From Cultus Lake to Whistler, Ucuelet to the Okanagan, B.C. has some of the most beautiful vacation spots on the planet to choose from .

 

Here's a superbly written article written by Peter Kinch who is the author of The Canadian Real Estate Action Plan and co-author of the Canadian Bestseller - 97 Tips for Canadian Real Estate Investors.

MORTGAGE MINUTE: Looking ahead to investing in real estate for 2012

http://www.bclocalnews.com/business/132558663.html

 

While I can’t promise that it will get you that Ferrari or put your kids through Yale, owning a second home-whether it is for vacation or to generate a rental income-is an upgrade in lifestyle.  The good with the bad and the bitter with the sweet is indeed the plague of many second home owners, but the satisfaction and pride in owning two homes for these very same home owners, is priceles

 

Happy Investing!!


 

 

 

 

 

 

 


 

 

 

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Realtor's don't decide how much your home is worth. The price your home will realize should be determined by market conditions, which is ultimately a direct reflection of supply and demand.

 

What's the difference between a “Buyer's Market” and a “Seller's Market” and how does it affect the price of your home?

 

In a Seller's Market, inventory is lower in comparision, therefore Seller's often have the benefit of pricing power. There are fewer purchases which result in properties staying on the market longer and median sales are on the downward slope. Buyer's tend to find themselves in competition with eachother, therefore putting pressure on home prices.

 

On the other end of the spectrum, the opposite is true in a Buyer's Market where Buyer's have an unambiguous advantage due to the higher volume of inventory available.

 

During a phase such as this, homes stay on the market for longer periods of time and Seller's feel the heat to price their home more competatively with the waning levels of urgency for Buyer's to purchase.

 

Selling your home in today's Buyer's Market is not a matter of perception but a matter of how realtistic you are at pricing your home.

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Keeping you updated about what's happening in Real Estate and in the Fraser Valley!