So, you’ve bought a new property intending to rent it out. How do you determine the price of a rental property as a first-time landlord? Determining the price of a rental property can be challenging. If your rent is too low, it could be detrimental to financial goals. Setting it too high could leave your property vacant for an undetermined period. Charging the right price can help find reliable tenants that won’t struggle to make the monthly payments. Finding this balance between the best rental cost and a dependable lessee is where it gets tricky. There are options to explore ...
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Investing in Unpaid Property Tax Auctions and real estate in general, is thought of as a great way to increase your portfolio of assets and your net worth. It offers passive income with long-term wealth. There are, however, several ways to invest in real estate. I suggest the following: Purchasing real estate Rental Management Flipping houses Investing in real estate trusts Investing in unpaid property tax auctions or property tax lien investing can increase your real estate wealth. If you’ve knowledge of the real estate market and are confident in what you’re doing, buying liens can generate a lucrative amount ...
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Why You Should Think About the RRSP Home Buyers Plan A Registered Retirement Savings Plan can be an important method of making your down payment on your mortgage. The home buyers plan offered by the Canadian Government enables first time home purchasers to borrow as much as $25,000 from your RRSP tax rate to make your down payment. In the event that you are eligible to purchase a home with another first-time home buyer, you can both tap into $25,000 from your RRSP for a total of $50,000. Since the HBP is classified as a loan, however, you need to ...
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Additional Costs of Buying a Home That You Should Be Aware Of Many fees may surround the process of purchasing a home, and it’s valuable to know the other costs of buying a home in advance so that you are fully prepared when you identify your dream home. Most people are familiar with some of the basic costs of buying a home, such as paying for any inspections or the closing costs. In addition to the standard closing costs associated with the property, there may be additional costs of buying a home assessed to you, the purchaser, when you buy your new condo or ...
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What to Think About When Buying a House from a Builder When buying a house from a builder, you need to be aware of several key things to expect and look for, so that your interests are protected from the outset of the transaction. Satisfaction and customer service are critical when buying a new house from a builder. This means that the builder should make each step in the building and buying process as simple as possible for you. You should always be treated like a valued customer even after you move into your new home. Expect that your builder and/or ...
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What Exactly is Title Insurance? Most people today, when purchasing a home, are unaware of what title insurance is, why they should buy it, and if they do buy it, who they should purchase it from. This type of insurance is a product offered by your real estate lawyer on behalf of various title insurance companies that protect your ownership interest on a property you are purchasing from losses that may result from unknown title defects at the time of closing. Why it’s Important For example, imagine shortly after you bought your home, you found out that there are two outstanding building permits ...
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Real Estate Closing Costs Overview Understanding all of the real estate closing costs associated with your transactions can help prepare you more effectively for this final meeting. It is important to identify an attorney with real estate experience well in advance of moving forward with a real estate transaction. Your attorney can help review all of the relevant documents associated with this transaction and guide you through what can sometimes be a complicated process. Closing costs typically range from between 1.4% to 4.1% of the selling price. These are the administrative and legal costs that you will have to pay ...
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