The interest rates are low, the properties are on the market, but you are still on the fence. It is time to get off the fence and invest in your first home. There is no reason to keep throwing dollars in to rent. It is time to build equity. If you are concerned with your low bank approved lending amount, do not be. There is an option that may work for you. However, you may have to put some work into the Foreclosure Marco Island FL. Most properties available will require some amount of renovations. However, if it will get you out of your rental home and into a home that you can call your own, it is worth it. In fact, with the interest rate so low you may be paying less for a mortgage than you are paying in rent.
Location is always important in real estate. The right location will add value to a home simply by where it sits. In fact, many first time home buyers purchase the worst property in the best areas. They do this because, in most cases, they can purchase it at below market value. After they make the renovations, the property will quickly go up in value. Some of the lowest prices homes in the best areas are found in Foreclosure Marco Island FL. An experienced agent will show you what other homes in the area have sold for. From that information, you will have a better understanding of the true worth of a property when renovations are made.
Though buying low is a good way to invest, be careful. If there are structural issues, plumbing problems and electrical problems then a first time home buyer is wise to pass. Those costs can quickly grow out of control. When a first time home buyer looks for a property to renovate he needs to look for properties that need cosmetic changes. A realtor will find the best Foreclosure Marco Island FL that will work for first time home buyers. For example, look for properties that need new carpeting, paint and have out-date kitchens. The kitchen can be fixed over time. However the carpeting and paint will not be a costly expense compared to structural issues. A professional agent will guide a first time home buyer to the right Foreclosure in Marco Island FL. Visit to find the best deals on foreclosures or other properties for sale in Marco Island, FL and the surrounding areas.
