John Bendall owner of Re/Max Classic Group offers some ways to take advantage of the current Real Estate Market.

There is a lot of potential opportunity in the Real Estate market today, but what is the best way to take advantage of it?  Even if you are not interested in moving to a new geographic area there are still a couple of things that you can do.  Your first option, if you are interested, is to up-size.  If you have been thinking about getting into a bigger home, now may be the time.  The challenge with this option may be selling your current home.  If you price aggressively, this shouldn’t be a problem.  You may get slightly less than you would like to get when selling in this market, but on the upside you will be spending less on your purchase. 

Another potential opportunity that this market presents is the possibility of a second home.  You may not be interested in buying a property strictly for rental purposes. However, if you are thinking of moving to a retirement home within the next couple of years you could buy a second home now and rent it out until you are ready to make the move.  If you can swing it, this could be an ideal scenario.  You may be able to purchase something at a lower price now, and potentially wait to sell until the market has changed.    Of course there are no guarantee’s that the market will change significantly by the time you are ready to sell.  The opportunity to use the home before you live there will be of some value.  This will allow you to have confidence that you’ve made a good decision and to make changes before you have to live with your decision full time.

One last alternative that could allow you to take advantage of the current market without making a move is to provide some help to a family member or loved one who may be considering purchasing a first home.  This could mean helping your children make a down payment, or purchasing an investment property for college age children to live in while they attend school. 

If you are interested in pursuing any of these options or you would like to discuss others e-mail me at john@bendallgroup.com.

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.