A Few Key Points – From our Buyer Spring Training Seminar
Know your requirements. Understanding the difference between what you want and need, helps you focus your search and gives you a better picture of what your budget allows in a certain neighbourhood. Don’t forget that is this an investment, so consider your timeline (i.e. 1 yr, 3 yrs or 5 yrs+), if you are looking for immediate equity/ROI, a monthly/yearly cash-flow, or a long-term hold, flip, land.
Working backwards goes hand-in-hand with Knowing Your Requirements.
Indeed, you should work backwards from the money you have to invest and not from what you want out of it. The numbers will dictate the most appropriate/realistic path. Remember that money’s time-value is real and more important in growing markets like Toronto’s, as your money depreciates over time.
Find, understand and maintain your requirements, keep changing them will NOT work in your favour.
Consistency is the key. Seeing homes on a regular basis keeps you in the game and helps you understand what you’re truly looking for and how much your budget gets you. You may do your own research, but consider that working with someone who’s always “in the know” helps.
Take advantage of the cottage/Christmas effect. Remember to always consider what’s more important to you during this process. Look when and where nobody else is looking and you will have a wider range of homes to choose from and less competition.
Remember. A picture is NOT worth 1000 words: Realtors are hired to MARKET & SELL homes. What you see in a picture may not represent what you experience during the showing, but not always in a negative way. Therefore, remember: Seeing is believing! You must see to know and have a basis for comparison for a good investment.
Other Seminar Notes:
Ready to get started with your next investment?