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Guam, an island territory of U.S is known for its rich culture, heritage, beautiful beaches and lush tropical terrain. In past few years, the real estate market has received strong interests from buyers as well as renters. The number of families interested in relocating to the place has increased, and Gaum real estate is expected to observe a rise in next couple of years.
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Important Things to Consider Before Purchasing Guam Real Estate Properties Guam, an island territory of U.S is known for its rich culture, heritage, beautiful beaches and lush tropical terrain. In past few years, the real estate market has received strong interests from buyers as well as renters. The number of families interested in relocating to the place has increased, and Gaum real estate is expected to observe a rise in next couple of years. In between all these, any buyer can find it difficult to find the right property. Here are some tips. Picking the right realtor It is the first remarkable step that decides the result. Look for a realtor who works in the field as well as the office. It will help you understand what is going on in the market. A realtor who is out on the field perfectly understands what customers want. Do your research Often many people moving to Gaum doesn’t understand the challenge of finding a property in their price range. Whether it is rental or sale, it may take some time to find a Gaum property. Supply and demand People looking to buy a property in a popular area should be ready to pay more. As there is the disparity between demand and supply, one may have to wait for the preferred property. Home inspection A home inspection is always very important before you decide to give your consent to an offer. You can even hire an inspector to go through the inspection of roof, electrical system, foundation, walls, ceilings, etc. In many cases, it may become a turning point. If you find out a major structural problem, it will incur a heavy loss from your pocket. If the house needs some maintenance work but no structural work, it is a good deal. Setting up a budget Another major thing to consider before making an offer is budgeting. Ask potential contracts to give their renovation estimates in writing. Add 10-40% of your budget for unseen costs and last-minute realizations. Making an offer
Obtain the sale prices of 3-4 homes sold in last 3 months in the area of similar style and size you are interested in buying. Figure out the cost of renovations including actual cost, the time required, and popularity of the neighborhood. It will give you an idea about the worth of the home after renovation. Once you complete all these steps, it is time to move-in.
