20 Common Real Estate Questions New Investors Ask
- How do I determine the value of an investment property?
- What is the best real estate investment strategy for me?
- How do I find a profitable investment property?
- Can I begin investing in real estate with no money?
- Is real estate investing easier if I already own property?
What happens when you sell an investment property at a loss?
If the sale of your investment property includes depreciating assets, the proceeds of these will give rise to income or deductions rather than being included in your capital gain or loss. If you make a capital loss, you cannot claim it against income but you can use it to reduce a capital gain in the same income year.
What questions should I ask before buying a condo?
Below are some of the most important questions to ask and things you need to know when buying a condo!
- What are average monthly condo fees?
- What do condo fees cover?
- Are the homeowners association’s finances in order?
- Is there any pending litigation?
- What does condo insurance cover?
- What are the HOA’s rules?
What are good questions to ask when buying a house?
To weed out the duds from the diamonds, here are 15 questions to ask when buying a house.
- What’s my total budget?
- Is the home in a flood zone or prone to other natural disasters?
- Why is the seller leaving?
- What’s included in the sale?
- Were there any additions or major renovations?
- How old is the roof?
How do I choose a good condo?
7 tips for buying a condo
- Consider your lifestyle. Hate to mow the lawn and trim the hedges?
- Work with a Realtor with experience in condos.
- Decide what types of amenities you want.
- Find an FHA-approved condo.
- Research the property management company.
- Review association fees and regulations.
- Ask about special assessments.
- Pros.
How do I choose a good condo unit?
What should you look for to get the best units?
- Consider the unit facing.
- Which floor the unit is on.
- Proximity to entrance, gates, and quieter facilities.
- Keep a distance from bin centres, substations, and certain facilities.
- Look for efficient layouts.
- Check the number of units per floor.
- Look for “bonus floor space”
Do condos go up in value?
Yes, condos generally appreciate in value. But, if you’re trying to decide between a condo or a house, keep in mind that a single-family home is usually going to grow in value faster than a condo will. For example: From 2017 to 2018, the median price for condos grew by 3% while single-family homes grew by over 5%.
Who checks a house before you buy it?
Hire a general contractor or home inspector to inspect all major house systems, from top to bottom, including the roof, plumbing, electrical and heating systems, foundation, and drainage. This will take two or three hours and likely cost you $300 or more, depending on the location, size, age, and type of home.
