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Your home as an investment.

by Anne Barnes

Your home as an investment.
 Long term your home is clearly an outstanding investment and one of the very few avenues for increasing your net worth tax free.
 Things to keep in mind location,type of home,effective use of leverage,asset improvements time.
 location
Think of the resale when buying a home in a certain location.
What makes locations more desirable. Schools, close recreational facilities parks etc.
 Type of home.
Single-family homes are the best for improving Financial appreciation over other types of property.
Effective use of leverage.
A home is a good debt. In Canada all capital appreciation on your primary residence is tax-exempt. 
Asset improvement
We all know someone who's made a lot of money by buying old homes in good locations and upgrading them to enhance the property to add  value. You can do the same.
Time

Just since I've been in real estate in 2003 till now.prices on homes have gone up more than 60 percent. Buying a home is good investment.

Communication is the key to successful home purchase

by Anne Barnes

Communication is the key to successful home purchase. This is where the benefits of a Realtor’s come in. They should discuss the type of size style location and kind of home that you are interested in purchasing. After e research on the type of property you want and can afford, the agent will prepare a property value study, present properties on MLS and for sale by owners. Through constant communication and the benefit of the newest technologies homes can be emailed to you as soon as they hit the market. Realtors should promote and protect the interest of the buyer at all times. Advise the buyer even if it means pointing out reasons not to buy the property. Disclose all research about the properties history (drug house, murder in the home, crime in the area, etc.) Disclose if the property has liens or if it is in foreclosure. Negotiate best price and terms in favour of the buyer. Recommend they get the home inspected. It is to make sure the biggest purchase of their life is in good repair and no surprises after purchasing the property.    

What does the new mortgage rules mean to you?

by Anne Barnes

What does the new mortgage rules mean to you?

 If you qualified for $200,000 a week ago next week you will qualify for $160,000.
 Will be interesting to see how the new rules will affect the market.

 Will it drive the prices of homes down? Or will this stop real estate selling in your area?

 It will mean that the first time home buyers will be buying starter homes.

 Lots of starter homes on the market have not been selling as most first time homebuyers are going straight for a destination home. With the new mortgage rules coming in making it lot harder to qualify for these prices. This might get a lower priced and homes selling. Making this home buying a two-step a beginner home and a destination.

 Time will tell.

Displaying blog entries 1-3 of 3

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The Barnes Team
RE/MAX Real Estate Lethbridge
107 - 50 AVE. WEST
CLARESHOLM AB T0L 0T0
Anne Barnes 403-393-1922
Fax: 403-328-2221