5 things to consider when looking for an investment property


Buying your first investment property is a big step in real estate. There's so much to think about...

➡ Location, Location, Location.

➡Down Payment Differences. You will typically need to put down at least 15% to 20%.

➡ Fixed and Variable Expenses. Property taxes, homeowner's insurance, property management expenses, HOA fees, and general upkeep costs.

➡ Property management. Whether you choose to serve as a landlord, or pay a management company to do it.

➡ The risks. The local market economy may change, property taxes can increase, bad tenants, repair costs, etc.


If you're not sure how to navigate buying a worthwhile investment property, feel free to reach out with any questions.



Comments:
No comments

Post Your Comment:

MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.