Factors to Consider Before Venturing Into Real Estate
Kevin Bratch – A Seasoned Real Estate Investor in BC always advises on the consideration of time before doing anything. Just like there is time to eat and time to sleep, investing in real estate has factors that you need to consider before making the decision. This does not only apply to real estate but also your personal life. Before you purchase your piece of land or house, here are crucial things to consider.
According to Kevin Bratch Real Estate is an Enormously Competitive Field. The stability of your income should be your foremost consideration before wearing investment boots in real estate.
It’s always a temptation to invest in real estate whenever one is earning a good sum of money. However, ask yourself Is the income stable? If you are unsure of your financial fate in the next up to 12 years, do not put all considerations in real estate.
You should wait for at least six months to build your savings a little more. Your credit score should not be abandoned when planning to venture into real estate investment. This will determine the interest you will get out of your mortgage upon approval. Ensure your credit score is at where you want it to be. If not think about ways of raising the score.
Is the real estate market in your area favorable? Have the housing prices gone up or down in recent years? Once you know the answers to these questions, you will find yourself in the right position to make informed decisions on whether to venture into real estate investment or not. Kevin Bratch has for years offered advice on real estate investment with a track record of success.
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