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Kathy Mendham-Meathrel
Realty Executives Elite Ltd
7-515 Wellington Rd South
London, Ontario, N6C 4R3
Office: (519) 649-6900
Cell: (519) 854-1974
Buying homes below market | Print |

Can you buy homes below market?


While a typical buyer may look at five to 10 homes before making an offer, an investor who makes bargain buys usually goes through many more. Most experts agree it takes a lot of determination to find a real "bargain."

There are a number of ways to buy a bargain property:
*Buy a fixer-upper in a transitional neighborhood, improve it and keep it or resell at a higher price.
* Buy a foreclosure property (after doing your research carefully).
* Buy a house due to be torn down and move it to a new lot.
* Buy a partial interest in a piece of real estate, such as part of a tenants-in-common partnership.
* Buy a leftover house in a new-home development.
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Rent vs. Buy Calculator

Am I better off renting or owning? This calculator will show you the financial differences between the two.
$   Current Rent
  % Est. tax bracket
$   Purchase Price
  % Down Payment
  % Interest Rate
    Mortgage Term (Years)
    Your Monthly Payment
$   Yearly Taxes?
$   Yearly Insurance?
    Total PITI
    How long will you own (typ. 7 yrs)

$   This is your rent over the period
$   This is mortgage over the period

REAL calculator

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Term of loan: years

Total interest:
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