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There's one thing about the property you buy that you can never change, so consider it carefully


Transcript


What I'm about to share with you might seem like a statement of the obvious, but it's remarkable, to me, how few people really give this the consideration that it deserves when they're purchasing real estate.


So, first of all, what is real estate?


Well, real estate is the land and the improvements on the land. If you were buying real estate to farm, you'd look for a property that has rich, fertile soil and an appropriate level of moisture, so that you could grow good crops. If you wanted to buy land for a commercial space, you might look for something with good drive-by traffic. When it comes to residential real estate, only you can decide what utility you expect to get from your property. But it's important to understand that land and improvements on the land, that the land really is the only permanent part, right?


Houses will come and go, and a good house that's well built and well maintained can last for centuries, but your land is forever. It'll be here as long as we are. So it's important to be thinking about it in that context.


As you look forward, what utility do you need that land to provide for you? And, for residential real estate, it's primarily going to be location, right? The one thing about the property you purchase that you cannot change, it's permanent. It's always going to be in that location. So be thinking forward. How is your life going to change over the next five or 10 years? And does the location that you require change with that? Because, again, you know, you can throw an addition onto your house. You can change out the kitchen. You can do lots of things to improve it and adapt it to your changing needs over time, but you can not change the location.


And if the location no longer serves you, you will have no choice but to sell and move somewhere else.



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I’ve upped my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.


I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com


Norm Fisher

Royal LePage Vidorra

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Norm Fisher, TeamFisher

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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