When I started investing in real estate over 15 years ago I had no experience and didn’t really know what I was doing. As a result, I made a few mistakes. But since then I’ve learned a lot and had great success. And you know what? I still use the tips and tricks I learned back when I first started. Here are 5 of my favorite real estate secrets that I still use today to get the best bang for my buck!
Houses listed on Monday or Tuesday typically sell for less than those listed on a Thursday or Friday. I always try to get in on a Wednesday so I can take a good look and put in an offer before the weekend traffic hits.
Check out homes that don’t have photos in the listings. People often assume that if a listing doesn’t have photos the place must be terrible. Not true. I’ve found some amazing deals because I went to see houses that other people skipped. Mine was the only offer and I got a great deal because of it.
If you live in the city and you’re looking for a little extra privacy try to find a house that’s one or two in from the corner. The placement of these houses usually means that the backyard looks out over the backyards of the houses on the adjacent street. So you look out over other yards instead of the back of a house.
If you live in a northern climate a south-facing house means the snow and ice will melt faster in the spring, leaving you with less shovelling and possibly even lower heating bills. Most people don’t think about this when they’re shopping in the summer but you’ll be glad you did next spring!
When you’re putting an offer in on a home – and particularly if there are multiple offers – I highly recommend writing the sellers a letter explaining why you want the house. Selling a home can be a very emotional time – especially if a seller has lived in that home a long time. Being honest and heartfelt about who you are and why you want the home can go a long way. It’s remarkable how often a strong emotional connection can mean more to people than selling to the highest bidder.
For more real estate advice check out the following articles:
Photo courtesy of CBC (The Play Exchange)