FREE HOME EVALUATION….$495 VALUE

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A BEGINNER'S GUIDE TO REAL ESTATE INVESTING

Your time is the most valuable asset you have. This is one of the many reasons why real estate investing is so popular among shrewd property investors: once you find the right conditions surrounding a viable option, your purchase's value could easily skyrocket over the coming years. Here are a few factors to consider when buying an investment for the first time.

Before you invest

Before you begin even looking at properties, you need to turn your potential investment into a business venture, which means not listing it under your own name. This is for very simple legal reasons: if anything were to go wrong, you yourself as an individual need to be considered as a separate entity from your business so you can therefore protect your finances and your credit rating. Speak to a lawyer about setting up a Limited Liability Company or a Limited Partnership. Taking this step and opting for business insurance will help protect you from any costly legal processes.

What can you invest in?

You can roughly split the world of real estate investing into two types: commercial and residential. Residential real estate investment is where you either buy property to renovate or wait for its value to appreciate, or you can become a landlord. For the latter, you can either get involved as the first point of call for your tenants, or you can employ an agency or a manager to maintain the tenancy for you.

On the other hand, commercial real estate might be a row of shops or a mall, which you let out to retailers. It could also be a warehouse that you rent to a company for distribution, or just a storage unit – the size of your investment is up to you.

What do I need to know about the area?

The location you choose to invest in will affect the type of tenant you attract and how often your property is vacant. Look for an area with a low crime rate and where residents often remain in place for the long term. Areas with high-achieving schools are not only attractive to a certain demographic of tenant, but they also tend to yield higher rents. Amenities nearby also help to boost prices thanks to their ability to drive up local demand and maintain a lively market.

Finally, do thorough research on the state of the local market and taxation rates as a wise property investor. Even within countries, property taxation is not always fixed – for example, they vary significantly from state to state in the US. The number of vacant properties and listings provides an insight into the state of the local market. If there's an unusually high number, it’s worth checking if this is a seasonal issue or whether the local market has slowed over an extended period of time. If so, it's time to take your investment elsewhere.

How's The Market In Park City Utah.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insights report reveals that home prices have appreciated by 6.2% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.1% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have already increased by half of a percentage point, to around 4.5% in 2018. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by half a percentage point to around 5.1% by this time next year.

An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home which you can then tap into later in life. As a renter, you guarantee your landlord is the person building that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

        

 

Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.

Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.

 

Insure that you have the best representation when buying and/or selling in The Colony. Contact Paula Higman Real Estate Park City at 435-602-8228 For a property tour and more information about Heber City and the surrounding areas.

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Pendry Park City Residences Modern Luxury on the Mountain.

Pendry Park City will be conveniently located in the heart of Canyons Village at the entrance to Park City Mountain. Construction is set to begin early summer 2019 and be completed for winter 2021.  Pendry Residences will offer a spectacular luxury ski-in, lift-out resort will be developed at Park City / Canyons Village, one of the largest ski areas in the United States

Scenic beauty, convenience, countless recreational activities and fresh air all rolled into one stunning destination - Park City, Utah.  It’s here you’ll discover a new Pendry resort rising at the base of Park City Mountain Resort in the heart of the revitalized Canyons Village.

Opening winter of 2021, Pendry Park City will be the ideal base for outdoor adventures in every season. Our prime ski-in/ski-out location offers 7,300 acres of exceptional terrain paired with all of the services of a luxury resort, including ski valet, Spa Pendry, fine dining and a rooftop bar and pool. During the warmer months, hiking, mountain biking, and outdoor concerts are equally enticing endeavors.

A modernist take on a traditional alpine lodge, the resort will feature 150 guest rooms and suites, along with fully serviced Pendry Residences Park City ranging in size from studios to four-bedroom homes. Pendry Park City beckons with views of the Wasatch Range, clean design and the coziest of beds. A mere 35-minute drive from Salt Lake City International Airport, this stunning mountain getaway is easily accessible from either coast.

The resort is being developed by Pendry Hotels and Columbus Pacific.  

Although I am not a member of the Pendry Sales staff, I do work hand in hand with them and can provide you with the most up-to-date information on Pendry Park City Residences. I would be representing you as an unbiased Buyers Agent on this development or other areas of Park City.  Contact Paula Higman - Engel & Völkers at 435.602-8228 for more information on Pendry Park City.

FREE HOME EVALUATION….$495 VALUE

From Paula Higman

890 Main Street 5-101

Park City, UT 84060

435.602.8228 Call or Text today...

FREE HOMEEVALUATION….$495 VALUE