Ray Werger Real Estate

🏦 Deciding to be a real estate investor is a substantial choice resulting in countless investment opportunities. It takes a special person to follow this path, and we’re happy to walk it with you.

1. Closing costs
Separate from the purchase price of the property, closing costs are a part of every real estate transaction.

2. Taxes
You will probably pay your taxes once a year, so it’s important to set money aside for the expense.

3. Unanticipated repairs
It’s your obligation and financial responsibility to address them, so having extra funds set aside is always a good idea.

4. Hiring property management
Hiring a property management company to assist you with the daily tasks of managing your rentals is an option.

5. Vacancies
If you anticipate ahead of time the probability of vacancies due to time needed for repairs or lack of tenancy, you can put aside a nest egg that covers the costs until new tenants move in.

Ray Werger | Royal LePage West Real Estate Services
[email protected] | (604) 830-3557
http://www.bcrealestatesales.com/

5 Costs New Real Estate Investors Need To Consider Ray Werger

💭 Thinking about buying a home?

👀 Read these 5 ways to become responsible homeowners before you do.

1. The legal side of things
If you’re planning to build a home from the ground up, it’s your responsibility to make sure you have the proper permits in place to do so. Every community is different, so it’s up to you to find out what they require.

2. Dealing with homeowners’ associations
The best way to know what your hoa responsibilities are is to read the hoa agreement closely before buying or renting in the neighborhood and attending regular hoa meetings.

3. Paying the mortgage
Responsible homeowners pay their mortgages on time, plain and simple. Failing to do so can result in harassing phone calls and letters from the lender, as well as legal action and/or foreclosure.

4. Dealing with neighbors
As a responsible homeowner, you should be polite when you see your neighbors, and you should go out of your way to remedy any situation your neighbors may find disturbing.

5. Understanding the mortgage
Mortgages can be complicated, so it’s a good idea to understand yours completely so there are no surprises when it comes time to make your first payment. Find out what your payment includes.

Ray Werger | Royal LePage West Real Estate Services
[email protected] | (604) 830-3557
http://www.bcrealestatesales.com/

5 Ways To Become A Responsible Homeowner Ray Werger