So, you think you’ve found your South Florida dream home? It’s an impressive property that’s within budget and checks all your boxes. Did you hit the homebuyer jackpot, or are there red flags you’re overlooking?
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COVID-19 Real Estate Investments
Although people are quick to compare the 2008 global financial crisis – that originated in the property market – to the current COVID-19 downturn, experts have come to the consensus that the housing market will not be impacted the same way. In this case, short-term pain means undervalued assets, which in turn will produce long-term gains. So then, is COVID-19 a great opportunity to buy an investment property? Absolutely. Now is the time to invest. However, in order to do so successfully, one will need a well thought out plan, critical thinking skills, a healthy degree of liquidity, and a decent comprehension of the highest return market.
Buying a house is a huge investment and can be very overwhelming if you are a first-time buyer. The process of buying a house is not as simple as just knocking on the door and telling the seller you are interested, and there is a very intricate plan that you must follow to properly purchase your next house.
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A good South Florida real estate agent, also known as a real estate broker, will assist you in selling/buying houses, land, offices or buildings quickly and efficiently! They will make the buying and selling process smooth and easy for you. Picking a good real estate agent is important for your overall selling and buying experience. You should do some research before choosing your agent.
You can greatly benefit from using a real estate agent to sell your home. Good real estate agents sell homes every month which makes them very knowledgeable of real estate housing and market trends. They will tell you the highest and most realistic price that you should sell your property for. They base this off of how much other properties on the market are selling for and on how well the condition of your property is in. They are also experts when it comes to negotiating with buyers. They will make sure you get the most money in return and sell your property quickly. A good real estate agent will save you time, money, and stress.
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Owning a home offers many benefits but may not be for everyone! Buying a home is 5-10 times more expensive than renting a home initially. That being said, your financial situation will determine if you are ready to buy a home or not. Another driving factor is how long you are planning on staying. Renting is a better option for you If you are not planning on staying in a specific area for long. A lease lasts for about a year and it is not guaranteed that you can renew the lease once the lease is up. Buying a house is more permanent and is a better option if you are trying to settle down. You will also begin building equity and making up costs once you live in the home you own for at least 3 years. Buying and renting both have their upsides and drawbacks. An individual should look over their situation and living preferences before deciding whether buying or renting is the best option for them.
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Shopping for a house can be a very challenging task, especially if you are unaware of the proper statistics and analytics to look for. Some real estate agents may end up taking advantage of the buyer and raising the price of the house if they notice the client is without a real estate agent present. When shopping for a house in South Florida it is important to have the accurate statistics on the South Florida real estate market and a real estate agent by your side. If you show up prepared when buying a house it will be a much easier process and there will be less of a chance for a bad deal to be made.
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