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How to Become a House Owner For Free and Make a Fortune |
Is it possible to own a property without spending one’s own money? Yes. In fact almost everyone likes to own a property, a place of living which can call his own. It is not difficult as it seems. It all depends on having an information or knowledge of the property market. Almost everyday new properties are being built up and down the country by large established property companies. They would not be building these unless there was demand for them. The builders have lot of investment tied in such building projects, and hence, they like to realise the returns from theses as fast as possible. They need to sell the properties to get back money locked in projects. To do, that, they offer incentives to public to buy the properties. These are often in the form of: 10-18% discount in the market value, giving an immediate equity Deposit paid i.e. the buyer does not have to pay any down payment to own a property. A normal deposit of at least 5 % is required by lenders, subject to one’s income. Stamp Duty paid. This is another expense associated with the property purchase, with a minimum of 1% of the house price. Fully Fitted Kitchen, bathroom,etc. So what else one needs? Imagine a property offered at, say £200,000. Normal purchase would require, the first time buyer to meet the following major costs: Initial deposit e.g. 5% = £10,000 Property valuation (survey) fee, say £300 Broker’s fee, lenders arrangement fee, etc., say £2000 Solicitor’s fee, search fee etc., say £1700 Stamp duty 1% = £2000 Total cost of owning a property = £16,000. If you do not have that kind of money, then you cannot become a house owner, except as explained above. Suppose you bought a new house from the property company, at 15% discount with deposit paid, then you have, not only become a property owner, you have taken a profitable leap into the future financially. How? Look at the fortune you have amassed: Immediate Equity (15% discount in price) = £30,000. First year rise in the price of the property, say 10 % = 20,000. So are financially well off by £50,000, without spending a penny of yours! Are there any other ways to make a fortune from property or from some other options - maybe faster? Yes, ofcourse. Read all about it in ‘Articles’ at www.shmazco.com
The author, a financial consultant, loves writing after working abroad for years. One of his books, which has helped many, is now sold on all Net Bookshops. See www.shmazco.com for link.
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