If you’re trying to decide how to invest, consider investing in Alaska real estate. While a piece of property is a more significant investment than, say, shares of a company’s stock, the return on a real estate investment can be significantly higher. There are also plenty of affordable real estate investment options in the Anchorage market. But how to prepare for your investment property search? Here are 3 tips from our team…
Boost your credit score.This takes some forethought. The two most contributing factors of your credit score are your on-time payment history and total debt, each of which takes some time to improve. However, a strong credit score will help you get prequalified more quickly and smoothly, so we recommend taking the time to boost yours!
Save, save, save. Want to forego a large loan altogether? If you’re able to, save up enough money to buy an investment property with cash. Obviously doing so requires a tremendous amount of money, but it also means you’re not getting into debt with your property, which keeps you freer financially.
Be willing to buy a fixer. Whether you’re buying a property with cash or using a more traditional financing option, consider buying a fixer upper. Often these properties need only cosmetic fixes – new paint, carpet, appliances, etc. – and are sold at a discount because of their condition. Certainly you’ll want to consult your Realtor and a home inspector, as some properties need more work than you might be willing to do, but buying a fixer upper can save you a good chunk of change.
As you think about investing in Alaska real estate, we recommend using www.AnchorageHomeSearch.com, a one stop shop for all your real estate needs. Wherever you are in the buying process, and whatever type of property you wish to buy, our team is here and ready to help you! Visit us online today, or get in touch with us at email@example.com or (907) 248-9653. Talk to you soon!