The ultimate real estate investment checklist

The ultimate real estate investment checklistInvesting in real estate is a major step that requires meticulous preparation, and our teams have prepared the real estate investment checklist to help you along the way.

Here’s the real estate investment checklist to help you navigate through the process:

Real estate investment checklist #1 – Financial evaluation :

The first essential step in sizing and evaluating your project:

• Budget: Draw up a realistic budget, taking into account all the costs associated with buying a property. Make sure you have an emergency fund to cover unexpected expenses.
  
• Financing: Explore your financing options and make sure you’re pre-approved for a loan.
  
• Additional costs: Take into account inspection fees, property taxes and insurance costs.

Contact our team for full support with your budgetary questions.

Real estate investment checklist #2 – Understanding the market :

As the market is constantly evolving, it is essential to know its current state, trends and developments.

• Local market analysis: Study local real estate market trends, including average prices and vacancy rates.
  
• Price trends: Analyze historical real estate prices in the region.
  
• Expected returns: Estimate rental yields and potential capital gains.

Read Kyle’s latest article for market insight and analysis:

L’Immobilier à Montréal : Au-delà des Taux d’Intérêt Actuels

Real estate investment checklist #3 -The choice of property :

• Property type: Determine the type of property that meets your objectives (condo, duplex, single-family home, etc.). Discover our current properties!
  
• Location: Choose a strategic location based on your criteria. Proximity to amenities, schools and public transport can add value to your property. Find out more in our neighborhood fact sheets!
  
• Condition and value potential: Evaluate the property’s condition and value potential. A professional inspection can reveal hidden problems.

Real estate investment checklist #4 – Visits and inspections :

• First visit: Prepare a list of questions and items to check during your visits.
  
• Professional inspection: Hire a home inspector for a technical evaluation. Find a qualified home inspector.
  
• Find a qualified home inspector.aEstimate the work: Get quotes for any work you need done. Learn how to estimate renovation costs.

We talk about it in our articles:

Real estate investment checklist #5 -Legal and administrative aspects :

• Title check: Make sure title is clear and undisputed.
  
• Permits and local regulations: Check local permits and regulations relating to the property.
  
• Contracts and protective clauses: Draw up solid contracts with protective clauses.
  

Les documents pour une préautorisation hypothécaire

Follow our Linkedin content to discover the definitions of technical and real estate terms.

Real estate investment checklist #6 – Management planning :

• Rental management: If you want to rent after you’ve bought, plan for rental management, either by yourself or through an agency.
  
• Maintenance and renovations: Plan regular maintenance and renovations. Discover our tips for effective maintenance management.
  
• Contingency management: Set aside a fund for contingencies and emergencies.

Real estate investment checklist #7 – Exit strategy :

• Resale: Assess resale potential and market conditions. Find out how to optimize the resale value of your property.
  
• Long-term leasing: Consider long-term leasing as an option for generating passive income.
  
• Valuation and refinancing: Explore valuation and refinancing options.

Investing in real estate is a journey full of opportunities and challenges. This checklist is your ally in tackling this investment with serenity and success. For a more in-depth analysis, don’t hesitate to consult our experts at Lacasse Shapcott.