Investment

How to calculate closing cost

With Real Estate prices soaring high, home buyers are concerned how much money they need to have to cover their closing cost. In this crazy bidding war, home buyer is putting more money into buying real estate and often forget about money required to close the property which is significant amount. In this article we’ll try to simply for you to calculate closing costs. Major cost contributors towards...

How to calculate approx. cost of interim occupancy

The occupancy period starts when your municipality declares the building as “fit for occupancy”. During the occupancy period, builders charge occupancy costs or interim occupancy fees, which are monthly payments to your developer. Interim occupancy fee consists of three things: Interest on Outstanding balance due to builder Approximate Property Tax Approximate Maintenance Fee To give you...

Importance of having permission to lease clause during interim occupancy

The occupancy period starts when your municipality declares the building as “fit for occupancy”. During the occupancy period, builders charge occupancy costs or interim occupancy fees, which are monthly payments to your developer. If you’ve “permission to lease or rent clause” during occupancy that means you can now rent the unit to cover this fee and possibly generate positive cash flow. Hence...

Things to check before signing a preconstruction agreement

This is one of the most important one for investors, the assignment clause allows you to sell your property before it's even constructed. Before signing an agreement, double check if there is any cost associated with the use of assignment clause in future. Capped Development Charges: Development charges are paid to the city by developers and builders further charge it to the buyer and amount is...

How to pick right investment project

Here are some of the basics things to look for in any upcoming projects, this will determine your Return on Investment. Price per sq ft: Always check comparable properties are sold in the area - Price per sq ft = Sale price/total sq ft. This will give you the current market price. Remember new projects are usually sold on future value so expect premium but pick the project with a reasonable premium,...

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