Kirkland homes are hot commodities in a seller’s market. If you are a real estate investor, chances are that you are looking for great deals to boost your portfolio. Properties such as foreclosures are great steals if you know where to look. Here are some Kirkland real estate tips that may come in handy –
If you have ever set your eyes on Kirkland waterfront homes, you know that they make great investment properties. Properties in areas such as Lake Washington are an investor or buyer’s dream. However, there is more to Kirkland real estate than meets the eye. Here is what you should know if you are thinking of investing in Kirkland waterfront homes –
Sure waterfront properties do look gorgeous. Who wouldn’t like to live in one or rent one as a vacation home? But what if the weather turns for the worst? It is possible for such properties to flood during high tide or when there is a flood. Real estate that is located near water sources like lakes have high winds.
Of course, this doesn’t mean that you shouldn’t invest in such properties at all. Invest in a good roof. Also make sure that you have the chosen property inspected before you put it up for sale.
By now, you might have realized that Kirkland homes that are near a water body also come with safety hazards. This might be an issue for families who have kids or pets. You cannot gate off a large water source like you can a swimming pool, so it’s best that you fence the yard instead. If your chosen property is near a lake, you need to determine whether the water level in the area remains consistent throughout the year. If it doesn’t, it’s best that you take appropriate safety measures or look for other Kirkland waterfront homes.
Put up a sign that cautions owners about the possible dangers to prevent any liability.
If you are investing in such properties for the first time, you need to know that they cost more to maintain as compared to regular properties that you are used to. For example, the roof of a waterfront property might need to be replaced every 10 years instead of the 20 years it takes the roof of a typical home to wear down.
Look into the insurance before you invest. Some states require additional insurance policies for waterfront homes and not all through the same insurer.
If you plan on making additions to the property such as a boat deck, make sure whether it can accommodate them. Start on the additions early. Find out what type of activities are allowed on the water. You do not want to advertise a waterfront property with a jet ski on your ads if the area does not allow anything of the sort.
If there are other waterfront properties nearby talk to the neighbors and ask if they like living there. Take note if they say that they have any problems living in a waterfront property.
Waterfront properties have value in the Kirkland real estate market. However, make sure that you keep the aforementioned factors in mind before you invest in Kirkland waterfront homes.
If you have interest in Kirkland waterfront properties
We’ll talk soon
The state of Washington offers a plethora of promising investment opportunities for buyers. But which type of property will give you the best returns? Ah, there is the rub. It doesn’t matter if you are a pro investor or an individual looking for a second source of income. You don’t need a real estate agent to tell you that investing in Kirkland homes or rentals depends on your own preferences as well as a host of other factors. Here is what you should know –