Nov 30, 1919, 12:00 AM
Post #3 of 35
I have bought and sold many houses in Canada over the
Some basic rules for buying is to first analyse the reasonable and eventual selling price ...
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past 20 years quite successfuly and more recently have bought and
sold two houses (at profit) in the Chapala area over the
past two years. My rules have never changed and they
remain the same to avoid costly mistakes
1. good location that would attact eventual buyers,
2. establish what has been the selling price for similar or
almost identical houses in the same neighborhood and
establish the prices on a square foot basis. (good resaleable,
recently built houses with NA features sell in the $ 50. per
3. look for the likely future (modern) features to attact eventual
buyers i.e. open concept, high vaulted ceilings, good views, security,
modern kitcen and bathrooms, well landscaped grounds and allways
in a good neighborhood - location etc)
4. Don't "fall in love with property at first sight
before the deal is done. The seller and broker can detect
this which can be costly.
5. If the house has costmetic renovation prospects to
add value is an added - plus.
6. Always remember before buying, you should look at
its value first as a good and easy re-sale property.
The last house we bought was re-sold within 6 months
with a 20% profit - an easy "flip".
But, yes do rent in the area first before making the