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Home Buying Blogs – Victoria

Home buying advice for Victoria, BC residents by Ron Neal & The Neal Estate Team.

Found 7 blog entries about Home Buying Blogs – Victoria.

Buying a Home: How to Get StartedBuying a home demands a lot of a person's attention and care, and may take several weeks or many months. Buying real estate is often the most significant way a majority of people define their personal wealth. With these basics, home buyers can prepare for all the steps they need to complete.

Inspect Finances and Research Mortgages

For many people, getting a mortgage is one of the biggest loans they will ever have. This often means that those who want to buy a home need to have their finances in top condition. Months before they plan to buy a home, people should take a thorough and honest look at their credit, income, and debts. They can start thinking about the kinds of mortgages available, and which loans would be most appropriate for their

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5 Things To Keep In Mind When Buying a Fixer-UpperA fixer-upper can be a perfect home for some people because it gives homeowners a fresh canvas on which they can build the home they’ve always dreamed of. However, finding the right fixer-upper home isn’t just as easy as buying the first one available and expecting it to be completely fixable and changeable. Here are five things all homeowners interested in a fixer-upper home should be on the lookout for before putting in an offer.

1. Is the Location Right?

This is one of the few things that can’t be changed in a fixer-upper home. If the buyers don’t like where it’s located, then it isn’t worth all the time, effort, and money spent to make the home perfect for them. When seeing homes for sale, buyers should be sure to ask their real estate

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Understanding the Most Common Types of MortgagesDeciding on the right kind of mortgage requires knowing what is out there. With this information, potential home buyers will understand the differences between several popular types of mortgage loans.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Amortization and Loan Terms

Sometimes, people can get the amortization schedule of the loan confused with the loan term, particularly if they are new to the process. Loan amortization refers to the amount of time a set payment of principal would need to be paid in order to completely pay off the loan. The loan term may be the same amount of time, or it could be shorter. While the loan might take as long as

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Options For Home Down PaymentsHome buyers looking to purchase a home often understand that this process is one of the largest financial decision they will make. Buying a home requires a down payment. Although the standard is 20 percent, buyers may qualify to make a smaller down payment, depending on the size of the loan and their credit history. This guide shows buyers the common down payment options, and how they can get the money.

What Is the Minimum Down Payment?

Asking a number of different people about the minimum down payment for a home might yield a variety of answers. For decades, people have considered 20 percent to be the preferred amount to put down on a property. However, with average home prices what they are, having to put down close to $100,000 or more to

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I get it. I understand you may have doubts and concerns about the viability of investing in real estate. It seems so risky, maybe even out of reach. For those of us who live in Victoria, we have seen property prices skyrocket in the last few years. The number of homes available to buy are limited, and of those, many need a LOT of work – maybe more work than you feel comfortable putting in or spending more on. New provincial and municipal tax regulations are in the works regarding short-term rentals and vacant properties. And these are just your concerns about investing locally.

If you are considering investing in communities in another market, whether across the country or across the border, suddenly the prospects of dealing with out-of-province or

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A Short Course on Real Estate InvestmentAlthough new real estate investors sometimes make all the right decisions simply on instinct, it pays to know about the different types of real estate investment that are possible. Having a firm grasp on the advantages and pitfalls of each type not only increases opportunities, but broadens the field and makes it more likely that the return on investment is in line with expectations.

Real estate, in general, is considered one of the more reliable and stable asset classes, but there are unique advantages to certain types of real estate. Finding a niche may require some trial and error or a period of experimentation before settling on a specific type. Experienced investors also note that there is some value in diversification, and they welcome

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What to Expect from a Home InspectionBuying a home usually calls for a home inspection in the middle of the process. This inspection is a good time for buyers to get a sense for the condition of the home before they are on the hook to buy it. Knowing what to expect before, during, and after the home inspection helps buyers prepare to take the next step be that anticipating future home improvements, or backing out of the contract altogether.

Home Inspection Basics

A home inspection involves a routine examination and test of the home's major structure and systems. The inspection usually happens shortly after both parties have signed the purchase contract, as a way to identify and address obvious problems quickly. Some of the tests are dependent on weather. A home inspector may not

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