Are you looking for property in the Collingwood area? If so, I’m happy to help & show you potential properties, that would be a good match for your lifestyle and budget. However, being a smart buyer is everything in real estate.
When you’re investing hundreds of thousands of dollars -or more- into a property, you need to make sure you’re making the smartest purchase possible. As always, educating yourself is going to be the best policy.
Here are three rules to follow.
Three Vital Rules for Investing in Collingwood Real Estate
- Buy in neighborhoods with a growing population.
For some buyers, there’s a temptation to buy in a shrinking area because of the lowered prices. However, to borrow a phrase from the stock market: “never try to catch a falling knife.” If a neighborhood is in a downturn, you have no way of knowing if that trend will reverse itself.
So, buy in a booming area. It will cost more, but your odds of seeing your investment pay off are much higher as well.
- Look for neighborhoods which have maintained their value.
Do some research into the assessed value for property in an area you are interested in. Are the prices rising, staying steady, or decreasing? Obviously, avoid any property where the prices seem to be on the decline. You can spare yourself a lot of grief by doing some research into the property values beforehand!
- Whenever possible, buy properties with an existing cash flow.
As a real estate investor, you don’t want to be buying raw land and building on it. The costs are large, and the risks are even larger. You want properties or buildings which already exist and, hopefully, will already represent some sort of income flow. If not, they should at least be positioned to grow in value, rather than shrink.
To Learn More About Collingwood Real Estate, Contact Me
As a long-time resident of Collingwood, 15-year veteran REALTOR® and former municipal councillor, I can help you start your journey to a new home.
Contact me today to schedule an appointment.