Creative Real Estate Purchases

October 9, 2008 at 11:05 am Leave a comment

If you are looking to purchase affordable real estate, there are many creative ways to find great properties. Some ideas are very common, others not so much.

The choice is up to you, but regardless of your method of finding a home to buy, make sure you save money. Lenders will definitely want to see a substantial down payment before approving homeowners for a loan.

Consider:

  • Finding a fixer upper that is not in the best condition.
  • Buying a two family house that needs some work. Rent the one half out to a tenant, use that income to pay for all the repairs.
  • Move in with your/your spouse’s parents. Eliminate the cost of renting a place and save for a down payment on a house. In today’s market, even previous homeowners with great credit are required to put down around 20% of a home loan, much different circumstances than during the housing boom of a few years ago.
  • Open up a high-interest savings account. Come up with an amount that you will have to deposit in that account every month, and use that towards a down payment.
  • Look into listings of foreclosures. If projections are accurate, foreclosure listings will be on the rise over the next year.
  • Consult with a real estate agent to find a home.
Advertisements

Entry filed under: Home Values, Real Estate Evaluation, Real Estate Investor. Tags: , , , , .

San Antonio Texas House Valuation Research Comparative Market Analysis

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


Find Your House Value


%d bloggers like this: