Canadian Second Home Buyers

By
Real Estate Agent with Lockhart & Associates Real Estate

The Canadian real estate market is at the end of a boom cycle.  Many citizens may have home equity or investment gains that they can invest in our extreme buyers market.  Below are some things to consider when buying a Florida property.

  • If you are not in town, ask your realtor to preview properties of interest.  Ask for additional pictures.
  • Contact a lender and obtain pre-approval.  One lender we have used is RBC Bank, a Canadian bank local to our area.  They can typically approve loans and fund them in less than a week.
  • Ask your realtor for the applicable rental minimums, rent comps, occupancy rates for properties you are considering.  Rental income is a great way to offset the expenses of a great beach property investment.
  • Ask your realtor for property managment company contacts.  Consult with the property management group to verify rental possibilities and typical maintenance costs.
  • Ask about appicable foreign taxes - consult an accountant.
  • Ask your realtor for detailed information about the area and any amenities.

Purchasing a second home in Florida's paradise may be a great investment in today's marketplace.   Sell High......Buy Low!

 

 

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