Buying

Small Town Properties

1. Is now the right time to buy?

The economics on commercial and residential properties varies by market. It’s critical to remember how each area can be affected by different market conditions. Considering if now is the right time to buy, we need to factor in the reality of our financial situation. Are you prepared for the associated costs of a new commercial endeavour, or residential property?

Small Town Properties

2. Do I need a Real Estate Agent?

You can always try to find, negotiate, and complete the buying process without a Realtors help. But be warned, it’s often more difficult and costly. When you choose to use a licensed Realtor, you get the benefits of their knowledge of the market, and community. As well as access to their professional team, network and historical sales data! They also have unrestricted access to all available and up to date information on all Real Property listed. This is all to ensure that your property buying experience is positive, organized, and stress free. As a buyer, there’s no cost to you.

Small Town Properties

3. What type of mortgage do I need?

There are several types of mortgages to choose from. In order to choose the right one for you, you must understand the difference between them.

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Fixed Rate Mortgage

In a fixed rate mortgage you agree on an interest rate with your lender and this rate gets locked in for the term of the mortgage. Pros: You won’t pay more if interest rates go up. Cons: You won’t pay less if they go down.

Variable Rate Mortgage

In a variable rate mortgage your interest rate is the current rate indicated. At specified intervals, your interest rate may change to reflect the current rate at that time. In that case, your monthly payments do not change for that time period. Pros: If the interest rate falls, more of your payment goes towards the principal and less goes towards the interest. Cons: If the interest rate rises, less of your payment goes towards the principal and more goes towards the interest.

Small Town Properties

4. Should I Buy?

This is the biggest question of all. Buying property, whether residential or commercial is one of the most exciting and important moments and investments of your life! Evaluate your financial situation. Ensure you’re educated on the real estate market in your area. Always remember, don’t buy if you can’t afford to! But if you can, then the timing might be just right!