The Buying Process
Calculating Value
True Value
This is the value that you as the buyer are actually willing to pay for the property. All of the factors listed above should be factored in. The most important thing to understand is, what is my purpose?
If you are going to retire in ten years and would like to rent the property for income until then. Find out the short term earning potential of property in the region and understand how ready the property is for you to begin renting upon purchase.
If you will be spending your winter months there then you must make sure the quality of life suits you. Can I live here? Will I enjoy it? Can I do the things I need to do? Is it accessible for visitors from home?
If you are speculating on future value. What are the past trends? How do the enabling factors stack up in the property value forecast? Infrastructure improvements, stability of the region, other large investors, airports and other transportation?
