Is it time to consider a joint purchase?
In the ever-changing ebb and flow of Vancouver Real Estate, a new trend is starting to emerge that serves as both an excellent investment option as well as an entry point into the market. Welcome to the table, the Joint Purchase option.
“From an Investment standpoint, it makes total sense”, says Matt Henry, Vancouver Remax Realtor. “You get a small group of like minded people who are essentially treating this as an addition to their existing portfolio mix. As far as longevity before seeing returns, this is relatively short as groups can see profit in 2-3 years”.
“But”, he says “this is also a great play for entry into the marketplace. Which a lot of young, successful Vancouverites are still struggling to break into, despite having great careers and even some capital saved up. You could essentially use the profits from the sales in this kind of joint purchase situation and add that to your savings. From there, many first time buyers are now in a position to put a down payment on their dream home.”
The process seems fairly simple, so long as you have someone like Matt Henry onboard. He comes ready to vet each person in the group to ensure a cohesive endeavor. He will mediate for the group in times of personality conflicts or emotions on the buy/sell part of things. He has the leads on homes suited for this venture, lawyers, developers, stagers and anyone else needed to ensure a smooth transition from purchase to sell to profit.
So whether it be a sound investment deal to step up your Portfolio, or an opportunity for you and some friends to all get into the Vancouver Real Estate Market, perhaps a Joint Purchase might be right for you.
For further information on Joint Purchase please contact the Matt Henry Team at Remax Realty Vancouver*