Monday, December 21, 2009

How to find a a great piece of real estate

Here are eight basic questions that you should ask your self.

1. What kind of real estate do you want to buy?
Commercial or residential?
Fee simple or condo?
House or town house?
Small or large?
Investment or enjoyment?

2. Who is buying the real estate?
Is this for yourself?
Do you need to include someone else in the decision making?

3. What purpose are you buying a property?
To start a life or fulfill a goal?
For long term or short term?

4. Where do you want to buy?
Where is your job?
Where are your friends?
Where are your activities?

5 When do you want to buy?
Are you trying to sell your house?
Are you in a lease in an apartment?
Can you stand you roommate one more month?

6 What is your price range?
How much can you afford or how much do you want to spend?
Do have a financial plan or have you talked to a banker?
What kind of financing: Conventional financing with down payment

7 How will you search for a property?
On the internet or word of mouth?

8 Who will help you buy your property?
A friend at work or a professional?

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