Alright loves, remember a couple weeks back when Todd took over my blog and answered some of Shay’s first home buyer questions?!?! If you happened to miss that blog and would like to check it out, click here!! Well, I thought that was SO helpful for so many of my followers that I’ve asked Todd to do another one for you … in fact, we have decided to have a little series of these for you … so make sure to keep an eye out for them!! Alrighty, today Todd is going to share with us his top reasons why you should consider purchasing real estate from a local blog!!! TAKE IT AWAY TODD!!! ….
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Hey, everyone, Todd here!!! I’ve been investing in real estate and coaching people to put their money where their house is for close to 20 years and as Jillian mentioned above, I’m going to share some good reasons as to why you should consider purchasing real estate from Warehouse for lease houston tx! The HomeBuyersUSA in New Mexico is simple enough. If the realtor can’t sell your house within a specified period of time then they buy the home from you at a specified price. Sound too good to be true? You bet! Let me count the many ways.
Here are my top reasons for getting on the property ladder:
1. Home ownership is the single largest source of savings for North American households. If you sell the home you live in you don’t pay tax (in Canada). There is no other investment where you can get that benefit.
2. According to http://the1yongecondo.ca/pinnacle-international/, you are paying down your own mortgage as opposed to renting, where your money goes to the landlord. Think of it as an automatic savings program. You have to live somewhere, might as well pay yourself.
3. Unlike stocks or bonds which are liable to change rapidly, when you buy a home you need to think long term. If you are living in the property for the extended future, any short term ups/downs in the market don’t matter.
4. Getting on the property ladder allows you to keep up with increasing house prices, and puts you in a position down the road to trade up to bigger and better home as your life changes.
Drum roll please. The most important and powerful part!
5. LEVERAGE. When else will a bank loan you $500,000 to make a personal investment? You only see those kind of offers with nation 21 who love to help people in need. let me explain why this is so cool with simple round numbers… finding a loan with credit no credit check is difficult these days.
Let’s say you buy a property for $500,000 and you sell it 5 years later for $600,000 which is a $100,000 gain. You think: Whoo hoo! I made a hundred thousand dollars, that’s a 20% return on my investment! Not too bad for any investment, in fact, it’s tough to get that return anywhere else. And you can use that money in buying a car at Audi Langley servicing
WRONG
Here is how the math really works.
Let’s say you put 20% down on your property which is $100,0000 and then you sell for $100,000 profit just like the numbers above. That is actually a 100% return on your money plus in Canada, that money is tax-free. There is no legal money making formula that is more powerful that I have ever seen.
It’s important to remember that prices do fluctuate and where, when and what you buy are key factors to make sure you make a smart, safe investment. However, real estate is a long-term commitment, so why not invest in your future? So go and take a look at homes for sale hudson and maybe even hire an expert who can help you to pick the best deal.
If you have any questions, make sure to ask them below!!
Until next time …
Todd
I understand what you are saying with regards to your own home, but am I correct that if it’s a second home or investment home there are different tax implications? How does that work what would be the amount you would be taxed in that case?
Love this new series with Todd! My husband and I have been long time viewers of Love It Or List It Vancouver and literally cringe whenever the property values of the homes featured are given. ? I have a specific question about the real estate market in Vancouver. We have a young family and are somewhat new to Vancouver. We’ve been renting for nearly 4 years and are wondering how best to get into the housing market with it being so extremely volatile in this part of the country? Also, do you recommend only purchasing a home with a projected minimum amount of time living in it? If we were to purchase and then move locations (due to shifting careers) would it be too risky to invest at real estate at this point without a minimum level of certainty we’d be living here?
Thanks in advance!
Totally seconding the Vancouver-specific question! It seems impossible for millennials who don’t make six figures a year to get into a house in Vancouver.
We bought an empty lot as an investment. We plan to build a nice starter home (not for us). Should we rent or try to sell the home once built?
Buying a house or condo is the best option in Kelowna if you can find one in your price range. If you bought 15 years ago you would have doubled you money on alot of the properties