HOW CAN YOU REALLY GET TO KNOW YOUR LOCAL REAL ESTATE MARKET?

Your local Brampton real estate lawyers and real agents have one thing in common: they know their real estate market very well. They can give you detailed responses to any questions you ask and sound legal advice in regards to real estate in the city.

To improve your chance of having success in the current real estate market, you will have to put in some time and effort in understanding your local real estate market.

 

THE CITY OF BRAMPTON 

Brampton is a city located in the Ontario province. The city is has a population of 656,480 residents. The city has a good real estate market as well as the best legal council always ready to assist new or old home buyers. Hundreds of people move to Brampton each year in the hopes of integrating into the social life of this great city. Aside from the large number of real estate the city has to offer, there are also great facilities like schools, theme parks as well as good infrastructure. 

 

LOOKING AT THE BROADER PICTURE

The real estate market is without a doubt influenced by many external factors which include, political factors, socio economic factors, as well as broader economic factors that affect pricing as well as the movement of the real estate market. 

 

FACTORS THAT SHAPE THE REAL ESTATE MARKET

Demand: this includes the quantity of homes the buyer wants to buy, the requested prices, and the specific time as well as how motivated a buyer is and they’re purchasing power.

Rarity: this simply refers to the limited supply of a property in a giving location. In such instances, the buyer of the property might be ready financially to purchase the property however, the property might be off the market.

Utility: This is to determine if the commodity is suitable for use. In cases the buyer is ready and the property is up for sale, however if the house is riddled with some kind of infestation, the sale of the house will not take place until the problem is solved.

Transferability: this is the ability to swap the old home owner for a new home owner.

COMMERCIAL REAL ESTATE (CRE): WHAT IS COMMERCIAL REAL ESTATE?

Commercial real estate properties are usually used for commercial purposes. Commonly, commercial real estate properties are leased out to tenants to conduct business. Examples of commercial real estate includes, hospitals and other health care facilities, malls, hotels, office spaces as well as restaurants. Unlike residential real estates, commercial real estate requires large amount of capital from investors. 

 

COMMERCIAL LEASES

Commercial properties are usually listed between one to ten years. There are four types of commercial property lease. These include;

1. A single net lease. This type of lease requires for the tenant to pay property tax.
2. The double net lease. The tenants of this property type are usually required to pay for property taxes and insurance.
3. The triple net lease. The triple net lease requires the tenant to pay for the property taxes, insurance as well as property maintenance.
4. Gross lease. This type of lease requires the tenant to only pay rent and the pays for the maintenance of the property, taxes and also insurance.