Because it offers year-round recreation, investing in South Central Vermont real estate can be quite profitable and safe. Such a transaction can also be challenging, especially for first-time investors, and requires prior planning, a time commitment, realistic goals, and careful consideration of the following factors.
1. Selecting a property. First decide on a location and the type of property you are interested in. You will want to consider proximity to good schools, public services, shopping centers, highways, recreation, etc.
Another decision will deal with the type of property you want to own–a single family residence, a multi-family unit, or a vacation rental home. Discuss with you realtor and tax advisor the pros and cons of each to decide which will be most advantageous for you.
2. Examining your finances. In addition to a monthly mortgage payment, investment property expenses can also include taxes, property management fees, utilities, insurance for fire and floods, repair and maintenance costs, condo fees, and periods of vacancy. Be prepared to have cash on hand for a 20% to 30% down payment (or investigate other options). A helpful tool to assist you in calculating costs and probable financial outcomes is www.GoodMortgage.com.
Also keep in mind that long term (5 to 10 years) ownership is usually best for the average investment. The shorter the length of time you hold the property, the greater the risk.
You are selling your South Central Vermont home and the first Open House only a week away. The house is filled with clutter and things you don’t want to throw away. But the clutter is not appealing to potential home buyers. What do you? Here are staging tips for an Open House.
8 Staging Tips For A South Central Vermont Open House
1. Remove the clutter.
Having a garage sale is out when removing clutter because the Open House is only a week away. You don’t want to stuff the garage or closets to the gills either. One solution is to rent an off-site storage facility or stack boxes neatly in a basement or crawlspace.
2. Stage each room.
The first thing to do is clean from top to bottom. Make sure windows and light fixtures shine and are in working order. If the room is crowded, put some furniture in the storage facility. Finally, pick a focal point that will attract buyers when they see the room. For example, the focal point of a bedroom is usually the bed, and for a music room, it’s the piano.
3. Use the rule of three.
First, remove everything from counters and table tops, including coffee tables and side tables. Then re-accessorize using the rule of three…using 3 items of varying heights. For example, on an end table you can place a lamp (high), a small plant (medium), and a book (low).