Use Creative Finance Strategies for Your First Brantford Investment!

Given the high number of distressed and affordable properties on the Brantford real estate market, many buyers are looking to break into the investment aspect of the industry. There’s no doubt that money can be made off of investing in real estate. Using the right Brantford real estate agent to help you find the right investment properties is a great start to breaking in to the industry, but there’s one obstacle that leaves some Brantford property investors a little bit puzzled: financing.

While the current state of the market is healthy and interest rates are low, lending restrictions have gotten tighter across the board. This leaves many who are interested in investing in Brantford real estate at a stalemate: how are they supposed to make money off of investing in properties if they can’t get the financing to buy these homes in the first place? As a Brantford real estate agent, I have two words in response to this question: get creative. In order to make it as an investor in this real estate market, you need to think outside of the box when it comes to obtaining financing. Here are a couple ideas that should help you get the loans you need for your first investment.

•    Get yourself a new home. This might sound a bit backward. If you’re looking to break in to the market, then why would you invest in a brand-new Brantford property? The answer is that interest rates are currently at an all-time low, and many lenders are only requiring 5% down payment on a property. If you can put that money down and rent out your own place, then you’ve successfully broken in to the investment business and are starting to get a cash flow on your old property that you’ve rented out.

•    Get a HELOC. “HELOC” stands for “Home Equity Line of Credit.” A HELOC is similar to any other line of credit. You use the equity of your home as collateral, and as you start to pay off your mortgage, your credit limit increases. You can withdraw credit and make payments whenever you want. This is a great way to come up with the funds for your first investment property and still be able to keep your old home.

Using some of these creative tactics to obtain financing for your first investment will help you break into the Brantford real estate market. Once you get your foot in the door, you can build up your investment portfolio and start seeing a profit from your purchases. The key is to educate yourself. Do your research on any and every option possible and proceed with the one that best fits your situation. Doing this will help you learn the ins and outs of Brantford real estate much faster. The sooner you dive in to your first investment, the sooner you will see the profits start to come in.

As always, the most important thing about starting a new real estate venture is to make sure that you have the right industry professional by your side. As a Brantford real estate agent, I can help you navigate your way through the properties on the Brantford real estate market and find the ones that are right for investment. I’m always looking to help new investors get started in the business, so if you have any questions, don’t hesitate to contact me! I’d be happy to give you some advice and give you the names of some of my contacts in the business. I hope to hear from you soon!

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage
515 Park Road North | Brantford, ON N3R 7K8
Direct:  (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400

Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!
 

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Just Listed: 186 Ontario Street - Four Bedroom in Brantford - Great for First Time Home Buyer or Investor!

Front View

Offered At:      $159,000
Bedrooms:     4
Bathrooms:    1

Excellent value!! First time buyers or folks looking for - inexpensive property. Great investment. Owners bought this home because of location. Close to schools, Grand River Trails, Parsons Park and quiet area. Solid 4 bedroom home with many features. Huge deck 15'x14', 100 amp service, new shingles approx. 3 years ago. Could be a cozy home or as a rental investment.

Property Features

Central A/C, Central Heat, Fireplace, Vaulted Ceilings, Hardwood Flooring, Tile Flooring, Living Room, Dining Area, Basement, Interior Laundry Room, Large Deck, Newer Roof, Nice Yard

Front View

Living Room

Living Room

Dining Area

Kitchen

Bedroom 1

Bedroom 2

Bedroom 3

Bedroom 4

Full Bathroom

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage
515 Park Road North | Brantford, ON N3R 7K8
Direct:  (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400

Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!
 

Connect with Me

"Like" Me on Facebook

"Follow" Me on Twitter

Find Me on LinkedIn

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Read My Active Rain Blog

It Pays to Pre-Inspect Your Brantford Home!

Did you know that more than 85% of homebuyers who apply for a mortgage also request a home inspection? This can hardly be considered a surprise, as inspections can reveal pricey flaws and much-needed improvements that need to be made on the home. As a seller who plans on putting your home up for sale on the Brantford real estate market, this should make one part of your selling strategy very clear: get your home inspected BEFORE putting your home on the market.

Most sellers wait for the buyer to request a home inspection before having one. Given that a home inspection can make or break your Brantford real estate transaction, a smart strategy would be to pre-inspect your home, so that the homebuyer’s mind is at ease and you can be up-front about any and all issues with the home. As a Brantford real estate agent, part of my job is preparing home sellers for listing their home and helping them to come up with the best selling strategy. One recommendation I always make is to get your home pre-inspected. Here are a few reasons why this approach might pay off:

It reassures prospective homebuyers. When an interested buyer does the initial walkthroughs in your Brantford home, the only flaws that stand out will be the obvious ones. A home inspection helps homebuyers see the issues that they may have initially overlooked during their first few viewings of the home. Getting your home pre-inspected shows that you took the initiative to find out what was wrong with the house and that you are being honest and up-front with interested buyers. This will put the buyer’s mind at ease and make them feel more comfortable about working with you. It will also avoid the frustration that occurs when various deals fall through due to home inspection.

You can use the outcome of the inspection to buy more time or save money. If you know about your home’s red flags and areas of improvement ahead of time, then you can choose to renovate the issue immediately or adjust the sales price to reflect the outcome of your inspection. It gives you a few days to find a solution that will satisfy both your needs and those of Brantford, ON home buyers. If you choose to make repairs ahead of time, you will also have some time to shop around for the best deal from various contractors. In other words, you won’t be pressured to fix issues on your home quickly. This can save you both money and additional anxiety.

You can set your asking price based on the outcome of the inspection. There’s nothing more frustrating than finding a Brantford homebuyer who is willing to pay your asking price, only to have the final figure drop due to the results of your home inspection. Getting pre-inspected will allow you to set a fair and realistic asking price and know where you stand in the market.

Avoid repeat repairs. Getting a home pre-inspected will help you find out the source of all of the issues of your home, so that you won’t waste money on fixing seemingly obvious problems only to find that the cause was something entirely different during the inspection. In other words, getting pre-inspected will allow you to use a professional to pinpoint the problem and get the right repair, instead of doing initial improvements before listing your home and finding out post-inspection that it wasn’t the source of the problem.

Getting pre-inspected may sound like a hassle, but in the long run, it will save you both time and money during your Brantford real estate transaction. As the area’s real estate and community expert, I consider it a large part of my responsibility to help Brantford home sellers come up with the best marketing strategy for their home. Something that I highly recommend is to get your home pre-inspected. As always, if you have any questions about the Brantford real estate market, or if you want to know more about the area, don’t hesitate to contact me. I am always happy to help in any way I can. I hope to hear from you soon!

Wally Dufrat
RE/MAX Twin City Realty, Inc. Brokerage
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Why Have Brantford Housing Prices Gone Up?

One of the benefits of working as a RE/MAX real estate agent in Brantford is that I have the confidence that the national organization I belong to knows their industry. RE/MAX agents are knowledgeable, experienced real estate professionals who make it a priority to stay on top of the latest market statistics and analyze real estate trends. That’s why when people ask why home prices in Brantford, ON have gone up, I can utilize the information given to me by RE/MAX to give an informed answer. Being a part of RE/MAX is part of what makes me credible as an agent.

Given that the rest of the world is seeing a struggling real estate market, it comes as a shock to many that in Canada, the market it booming. Canadian real estate has had a fantastic year. There are a number of factors behind this, and in this recent article in Canadian Real Estate Magazine, the author uses a RE/MAX report to explain what they are. As a RE/MAX agent in the Brantford-Brant County area, I make it my responsibility to share the latest market news and statistics with my clients. Here are a few reasons why home prices have gone up so much in Canada:

New construction is booming. Many countries, including the United States, are seeing a huge hit in their home construction sector. In Canada, that is not the case. Many of the cities in Canada have aimed to revitalize their communities, and with that comes an increase in construction. For example, during a time where the average homebuyer was flocking to condos instead of homes, many major cities constructed multiple new condominium complexes. From the luxury to the entry-level, the new units fulfilled the needs of a wide array of homebuyers. With the boom in condo construction came an increase in home prices, revitalizing the Canadian real estate economy.

Home improvement has become very popular. Did you know that an estimated $450 billion has been spent on home renovations in the past decade? With more home improvement comes an increase in home prices. As a result, the average value of a Canadian home doubled from $163,951 in 2000 to $339,030 in 2010. The interest in revitalizing and renovating that hit Canadian communities caused people to invest more money in making their home modernized, updated, and impressive to potential buyers. The surge in remodeling projects was a strong contribution to the healthy state of our national real estate market.

Many other factors, such as boosted jobs and low mortgage rates, also played a strong role in the increased housing prices in Canada, but these two are the ones that were most overlooked. New construction and home improvement efforts played a strong role in making the Brantford real estate market healthy and steady. The information given by the RE/MAX report from this article demonstrates that now is both a great time to sell AND buy a home in Canada.

As your Brantford-Brant County real estate and community resource, I always strive to keep my service area updated on the latest findings and statistics for our local real estate market. If you want to see a market report for your community, don’t hesitate to visit my website or contact me! I’d be happy to let you know what’s happening in Brantford real estate. I hope to hear from you soon!


Wally Dufrat
RE/MAX Twin City Realty, Inc. Brokerage
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How to Choose a Neighborhood in Brantford

When searching for that next place to call home in Brantford, there is more to think about than just the price and condition of the house (a lot more). One huge factor in home searching is one that goes unnoticed far too often: the neighborhood. When it comes to the house, you might be spot on. But you are risking your happiness and comfort if the neighborhood doesn’t fit. You know what they say, location, location, location. This goes beyond the zip code, and boils down to the exact location of the neighborhood itself.

As your Brantford real estate agent, I am here not only to help you find the home of your dreams, but the neighborhood, as well.  A neighborhood should fit your personality and lifestyle, and also entertain your needs when it comes to your overall quality of life. Whether you’re well into your home search or just starting, it’s never too late to backtrack and consider what really matters.

So how do you find the right neighborhood? It’s easy. Become a bit of a detective. Decide what you are looking for, do some research and find the neighborhood that fits your description. With that said, consider these five crucial steps to choosing a neighborhood in Brantford.
 
1. Profile Your Ideal Neighborhood: Start off by thinking about what you are really looking for in a neighborhood. It’s hard to find something 100% perfect, so you will probably need to make some compromises. Make a list of what you are looking for starting with the “must-haves” at the top and the “would-like-to-haves” after. Some main factors you might want to take into consideration are as follows:  
    - What is the schooling system like?
    - Do you want a historic vibe or a new development?
    - How far are you willing to commute?
    - What is your current neighborhood lacking that you would like to see in the new one?
    - Are you ideally traveling mostly by foot, car or bicycle?

2. Get to Know the Area: If you are relocating within the same town you already reside in, chances are you have a good idea of the surrounding areas and neighborhoods. If you’re moving to a new city, you will have to conduct some research. Pick an area of the town you are interested and really zone in on it. Talk to current residents, visit local restaurants and coffee shops and peruse through the neighborhoods and scope out the demographic.

3.  Compile Background Information: When searching for your next home, ask your Brantford real estate agent for recommendations and to gather a cohesive package of information regarding the neighborhood. This should include school information, crime statistics, parks and recreation information, tourist attractions and neighborhood associations. 

4. Visit and Visualize: Once you’ve done your background research, it’s time to visit the neighborhood in person. Make sure that the neighborhood fits the needs of all senses. Does the look of the neighborhood appeal to you? Is it too loud or too quiet? Does the atmosphere change with different times of the day? Most importantly, can you visualize a future for yourself?

5. Lock it Down: Once you have chosen your neighborhood it’s time to get down to the nitty-gritty: finding a house you love. How? Contact me, your Brantford real estate agent, of course!

Bottom line? You will never love your house if you don’t like your neighborhood. Luckily, there are plenty of great neighborhoods in the Brantford area, so choosing the right one for you won’t be too much of an obstacle. Whether you’re buying or selling a Brantford home, contact me to begin a stress-free real estate experience, and I will be more than happy to guide you through the entire process.

Wally Dufrat
RE/MAX Twin City Realty, Inc. Brokerage
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