Chris Landry of VERICO Shares Tip to Follow When Buying Real Estate

Chris Landry Verico MortgageA major concern among those in the market to purchase a home is if the property in which they’re interested is going to appreciate or depreciate in value over the course of the years. The following paragraphs, from Chris Landry of VERICO Mortgage Group, contain some helpful hints and tips on this subject.

If you have or are planning on having kids, you need to find a home that will be big enough for everyone. You are more likely to buy a safer house if you purchase from parents who raised kids there.

When you are interviewing agents to represent you, ask this person the length of time he or she has resided in the area. If they have only been around for a short while, roads, neighborhood restrictions and the general community.

Be flexible when you have to make. You might not have the financial resources to buy your dream house in your dream neighborhood, but you can afford another one. If you can’t find the perfect home in the correct area, shop for the type of home in a different area or vice versa.

A lot of Realtors have ready made checklists of purchasing a home, shares VERICO Mortgage Group broker Chris Landry. The checklist can help you organize everything is taken care of when it needs to be.

Try to buy houses that have fireplaces in locations other than the family room. It can truly be a pain to keep up with cleaning multiple fireplaces clean.

When using real estate as an investment, you should keep your goals in mind. Determine if your goals are short or farther on the horizon. Don’t invest in any property that don’t meet your pre-determined criteria. A lot of investors don’t do this due diligence and buy something that does not satisfy them or even lose money.

Collect data about your local housing in the area. Look at some websites such as to get information about average selling prices, the average selling price, how many houses are on sale, and other sources of information. A prime location may help a property rise above other problems with the trends are down.

VERICO Mortgage GroupYou should ask questions about their track record. The agent should be ready to answer any of these questions in a professional manner.

If you are looking to purchase real estate as an investment, find a broker or real estate agent to help.These people have resources that may not be directly available to the general public. Many brokers will use special software to sort through MLS listings much easier and other listing services.

You should invest in the real estate market at this time. Property values and interest rates are now at a low since the market has crashed. The housing market will rebound, which will make your investment more profitable.

You need to know what’s on your credit report prior to applying for a new home.Once you get your hands on your credit report, check through it for any issues or red flags that may be present, and be sure to report any mistakes.

You must understand how mortgages work prior to buying a home. For more information about finding the right mortgage for you or getting approved for a mortgage it is important to speak to a qualified mortgage broker. Chris Landry of VERICO Mortgage Group is a 14 year veteran of the mortgage industry in the Vancouver, BC area. Contact Chris Landry at VERICO today for more information!

Buyers typically figure out their closing costs by totaling the down payment, any points that they pay to the lender, and the real estate taxes that are pro-related. In most cases though, the closing costs include additional items, school taxes, and other things that depend on your area.

Don’t hire a real estate appraiser unless they have five years experience or more. Hire an appraiser instead of any real estate agency. There could be a conflict of interest there. The appraiser you decide on should have certification granted by the state.

Research the available properties and do due diligence before buying them. There are several issues you should be aware of features to look at when buying rental property. Is this property in good condition and is it going to stay that way with minimal upkeep? The next key factor you need to consider is location. Location is very important if you have a rental property. The third is the average income of the property’s area. This differs from the location; you should know that an area that has high rent areas are better than those with lower rent.

The majority of people buying homes do not realize that the process will be so complex. Use this advice, from Vancouver mortgage broker Chris Landry, for help when looking to buy property.