How to Buy Property: 5 Steps for Making a Valuable Investment

How to Buy Property: 5 Steps for Making a Valuable Investment

Welcome back friends! Winter is full swing and us Rocky Pointers have been enjoying the sunny days. Plus, I get to do one of my favorite activities—sending pictures of me on the beach to my snow-pummeled east coast friends. I don’t even get any flak, since their fingers are too frozen to text me back. The gorgeous year-round weather is just one of the many things that attract families, students and retirees to Rocky Point. Some of them—like me—get hooked. Today, we’ll go over how to buy property in Rocky Point. Investing in property here lets you enjoy the wonderful beaches, people, and culture whenever you want. However, there are steps to take to get the best deal.

1. Find the Best Location

Rocky Point is the destination, but there are plenty of different areas to buy property. Location is key for getting the most value out of this special place. There are a couple questions you should ask yourself while doing your research.

What do I want access to?

Rocky Point offers a ton of stuff to do. There is golfing, beaches, nightlife—whatever you love to do, your property should provide easy access.

How much privacy do you want?

There are plenty of locations where you can enjoy the quiet and just listen to the waves. If you want to be closer to the action, you can look into a condo closer to the city. Some months—like spring break—bring a lot of energy to town, but also a lot of noise.

2. Find the Best Realtor

Of course, I’m a bit biased (and so are my clients). But a trustworthy realtor is essential for walking you through how to buy property. Most realtors will have reviews on their personal website or on review websites. If they don’t, that’s a big red flag. Unfortunately, there are always people who are more concerned about themselves than the customer. Do a lot of research—this is a big long-term investment, and you want someone who is invested in you.

3. Thoroughly Examine the House

Go through the house and check if anything needs to be replaced or repaired. Even houses that are advertised as being brand new can have hidden damages. This is especially important If you’re looking to flip the house for profit. A fixer-upper is one thing, but being upsold on a dud is another. Ask a lot of questions: Look at everything yourself, even if you’re told it is already fixed. On top of that, bust out the tool belt and be handy! If you have a landlord, their repairs will be a lot more expensive than doing it yourself.

4. Check the Local Rules and Regulations on Property

As the last step showed, an important rule for how to buy property is caution. Buying a property is exciting. However, some houses lure you in with their siren’s call—they seem perfect, but they’ll splinter your boat on the rocks of dodgy deals. Each place has certain housing regulations. If someone unloaded a house on you that doesn’t meet the requirements, you’ll be left dealing with aftermath. Luckily, a good realtor will know all of the local laws. It’s not bad idea to read up on them yourself, though.

5. Figure Out a Payment Plan

Back in the good ol’ days you could buy stuff with salt or livestock or an arranged marriage. If that was how to buy property today I’d own half the world. However, for property in Rocky Point you’ll either need to make a down payment or set up a mortgage plan. One option may be better than the other based on your finances. This is something that you’ll need to go over with your realtor. Sometimes there will be more flexibility, but others the choice will be one of the other. Go into your search knowing which option you’re looking for. Counting on having either option may waylay your search if you have to start over.

Welcome to your new place in Rocky Point! And welcome to the wonderful community that I fell in love with. If Rocky Point captured your heart when you visited, learning how to buy property is an important step to finding your perfect getaway. Luckily, there are kind, reliable experts that can guide you towards beachside serenity. If you’re ready to take the next step in buying property in Rocky Point, contact me today for a realtor you can trust!