On today's Real Estate of Mind, Realtor Kalama Kim of Coldwell Banker explores some affordable alternatives for potential home buyers who feel home ownership is out of reach. Check out the video of his interview and read his bullet points below.
Finding Affordable Alternatives:
· Purchasing Leasehold
o Look for Leasehold properties where the fee is owned by the AOAO
o Be aware of the monthly expenses (Leasehold Rent, Maintenance fees) and when they may increase
· Distance from town – Find homes in Waianae, Ewa Beach, Windward Coast for affordable prices
· Condo instead of home – There are town homes which may feel like a home and are spacious enough for a family
· Avoid Fixer uppers or foreclosures as they are fool's gold for buyers who need to finance and move now