Stating the Facts About Real Estate

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Stating the Facts About Real Estate

Buying real estate can be a really good investment. There are a few different approaches you can take. Many people choose to simply buy themselves a home and pay into the mortgage over time, building equity. You could also buy an apartment community or a couple of homes to rent out, profiting from the rent, and then profiting again when you sell the homes. Regardless of which approach you take, it is important to know the facts. This blog is a good place to find them! We state the facts on real estate, and we cover a wide range of topics for your benefit.


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3 Questions To Ask Your Real Estate Agent Before Buying A Property

Finding the perfect property can, at times, seem overwhelming. There are dozens of factors to consider, and it may be difficult to mentally balance them all at once while making such an important decision. Fortunately, knowledgeable and experienced real estate agents can help you reach that decision. That said, it is always best to ask good, specific questions before purchasing any property. Take a look below at just three of the most important questions you can — and should — ask your real estate agent.

How Long Has the Property Been on the Market?

While this may seem irrelevant information at first, the fact that a home that has been on the market for substantially longer than other homes may be for good reason. There may be some structural damage that is not apparent at first glance, or the owners may not be willing to concede on important points of the sale. Whatever the potential issue, your real estate agent can help you figure it out.

What Are the Relevant Taxes and Fees?

The monthly payment on your property is bound to be at or near the top of your list of things to consider when shopping around. That said, if you're looking only at your mortgage, you may be underestimating the true extent of expenses. Ask your real estate agent to sit down with you and go through all the relevant taxes associated with your property, including everything from homeowners association fees (if applicable) to local and state property taxes. Doing so may reveal that one property you previously thought was more expensive than another is actually less costly in the long run because of taxes. 

What Is YourProperty Zoned For?

Zoning is an often overlooked issue when it comes to buying a property, but it can be invaluable to understand exactly what you can and can't legally do with a property before purchasing it. For example, you may find that one residential property is not zoned for an in-law unit, but that another is. In more urban areas, you may find that the attached storefront you've been hoping to open is actually not permitted under municipal law. Whatever your future plans for your property, not asking about zoning laws can come back to bite you in the future if not thoroughly explored in the present. Luckily, your real estate agent should have no problem quickly and easily explaining all the zoning laws associated with your property. 

Contact an agent who can show you real estate for sale in your chosen area.