January 22, 2015
Guide to Investing in UBC Real Estate Property
College communities offer some of the most stable, predictable property investments anyone could make. They have a reliable market base that is anchored by the presence of the campus. Students always need off-campus housing, and universities like UBC are constantly providing growing demand.
Add these factors to the swelling Vancouver real estate market, and you have ripe opportunities for solid financial gains. To help you make the best financial decision possible, here are some tips:
Get Familiar with the Market
Just because college housing markets are revered as dependable does not mean you can enter a purchase decision blindly. Research your market thoroughly first.
One of the key factors is to get a feel for market demand. Learn what types of houses are preferred by students and faculty, as well as the preferable areas for them to live. A common mistake is to purchase a home that would be considered an abnormally high price for its neighborhood. Some buyers also buy homes that are difficult to resell or rent because of features like too many bedrooms or not enough parking.
Hire a Knowledgeable Real Estate Agent
You should perform your own research, but you should also hire an experienced agent to “have your back.” They will be able to fill you in on details that take years to realize, like what neighborhoods work best for multi-family property purchases. An agent can also keep you informed of new inventory availability, including great deals on hot properties.
Another important reason to hire a good agent is that they can help you out again when you decide to resell. They can aid you in developing a marketing strategy to reach the best possible client base.
Identify Your Target Market
Before you can do marketing, you must be aware of what your intended market actually is. Will you be renting your properties to students? Are you going to try to convince parents to purchase a temporary home for their kids that they can rent out later? Are you anticipating a faculty member moving in? A retiree?
Selecting demographics such as these help guide your purchase decision, as well as your revenue-generating actions in the future.
Get Active in the Community
There are countless real estate investor clubs and conferences for any given area. Participating in their gatherings can help give you insight into making purchase decisions.
Another important way to participate in the community is to actually visit a few campus events. Attend a hockey game, a concert or just simply take a tour. Getting a feel for the lay of the land allows you to anticipate your target market. It also gives you more credibility, helping shed your “out-of-towner” status.
UBC homes for sale are certainly a golden opportunity to build wealth and engage in a vibrant campus community while doing it. For more advice on buying or investing, take a look at our buyers page.
January 12, 2015
Should I Let an Investor Buy My Home?
When selling your home you may be surprised to learn if one of your interested buyers turns out to be an investor. The investor may even be working through a broker who will not disclose the identity of his client.
All of this unfamiliar territory can feel daunting, but there are many great reasons to entertain an offer from an investor. Deciding what you will do next depends on your situation, your preferences and ultimately how fast you want your home to sell and for what price.
Why Would an Investor Want My House?
An investor would be interested in your home for only one reason: they think it will make them money. There are a lot of different ways investors profit off of homes.
- They are interested in the home as-is, and will make a few minor improvements and then “flip” it for a profit.
- They think the home would make a good rental property. This plan makes a lot of sense when looking at UBC homes for sale, since the proximity of the university could provide ample tenants.
- They like the location. They could demolish or gut the house and create a property they think would get attention.
- They are building a property portfolio to hedge their other investments.
No matter what the logic is behind their offer, you can be certain that they will try to purchase your home for as low of a price as possible. If this number happens to be close to your asking price, it might be a signal that your home is listed for cheaper than how they perceive the market.
Advantages to Selling to an Investor
An investor will not make an inquiry unless they were serious. They also will not need financing. Both of these factors equal a quick, easy sale.
Another great reason to sell to the investor would be if you had mitigating circumstances that might deter other buyers. For example, if you were in danger of having your home foreclosed upon investors are sometimes willing to take over the mortgage as part of the sale.
Investors are also looking to buy your home “as-is” meaning you will not have to worry about its condition if there happens to be something less than ideal about it. This flexibility mean that if you have a worn-out deck or an extremely dated kitchen then you will not have to renovate these problems before a sale.
The biggest disadvantage of selling to an investor is that their offer will likely be well below the market price for your home. You can always counter to see how high they will approach your ideal closing price, but they are in it for the money and not the house per se.
You must also verify their legitimacy to avoid getting scammed.
For more advice on how to find the right buyer for your home, take a look at our sellers page
January 8, 2015
Tips for Moving in the Winter
Moving is a chore no matter when you do it. Getting people to help load up and carry your things, packing and unpacking can be exciting, but also frustrating. People are even less likely to want to brave the cold, snow and ice in the winter months than they are the summer heat.
On the up side, because fewer people move in the winter, it can be cheaper. Here are some tips for making the most out of your winter move.
Make sure your utilities are on before moving day. This will ensure that your new UBC real estate is warm and well-lit when the big day comes. Get the heat turned up and the water running a few days before you move in, to give you a chance to troubleshoot any problems. Even more so than in the warmer months, you will want the utilities running the first time you sleep in your new home during the winter.
Clear the Ice
Make sure that your driveway, sidewalk, parking areas and walkways are all cleared of snow and ice. The last thing you want is a friend, relative, or professional mover slipping and falling on your property to damage your furniture or hurt themselves.
Check conditions the day before and the morning of the move to be sure all is clear. If the weather is inclement on moving day, it might not be a bad idea to put one of your moving crew on clearing duty. They can focus on keeping everything clean throughout the day.
Protecting the Interior
Water, ice and mud can do a lot of damage during the process of moving. Consider using plastic, cardboard or tarps to keep those areas of high traffic clear of snow, sand, mud and moisture. Using duct tape to secure the protective materials can minimize accidents from slipping and sliding.
Hot Drinks and Food
A cooler full of beer is not going to cut it for winter moves. Keep coffee and tea handy. If you want to provide cocktails after the move, consider setting up your stove and doing mulled cider or wine. For food, get the crock pot going and put on a soup or stew. Hot drinks and a hearty meal will have your crew thanking you while you thank them for their help!
Despite the cold, snow and ice, a winter move can actually be fun. The end result is you settling into a new home in a time of year when the warmth of the hearth allows you to really connect to your new home. Follow a few simple tips and you will find that moving during the winter is not all that bad. If you are ready to purchase a new home in UBC, give us a call today.
January 5, 2015
Protecting Your Home When You Travel
We are entering the long, cold dark of winter; this is the time when many people begin to plan vacations. Escaping the frigid months of winter for warmer climes is fun and exciting, but you can never be too careful these days when protecting your belongings.
UBC real estate is located in a very safe area, but many still worry about being away from home for an extended period of time. Here are some tips to keep your home safe while you are on vacation.
Handle the Mail
Never let your mail pile up in your mailbox. That is a sure-fire way to alert unsavory types that nobody is home. If you will be away for more than a few days, consider calling the postal service to have your mail delivery suspended. They can hold your mail and deliver it when you get home.
If you have a friend or neighbor you trust, have them check in while you are away and grab the mail. Not only will this ensure those letters and packages do not stack up, you will have the peace of mind that comes with someone actually watching your home.
As the early days of spring arise, grass and weeds grow like wildfire. Consider having friends, family or a trusted landscaper handle the yard work while you are not home. Keeping your lawn neat and your garden weed-free will give the illusion that someone is at home taking care of business.
The Smart-Home Solution
Many home security companies provide options for allowing you to remotely run and monitor your property. By downloading a “smart home” app, you can link up with your security system to view cameras, turn lights and appliances on and off, generally providing the appearance that someone is around at any given time. You can also have the peace of mind that comes with being able to monitor your house, even while away.
Never Have a Key Outside
The biggest no-no you can commit while being away is to hide a key in your yard. While those rock-garden cubbyholes may seem like a great idea, thieves know how to look for them. Just remember, if you are smart enough to think of a hiding place, someone else may be smart enough to find it. If you must have a spare key that is not in your home, leave it with a trusted neighbor, friend or family member.
As you prepare to escape the doldrums of winter for a warmer climate, consider these basic tips for keeping your home safe while away. If you have any other tips or tricks for home protection while on vacation, leave a comment below!
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