Should I put off buying real estate because of current economic conditions?

[daring dragoon]

If you really want to get the usd out you can pay the 8 and 8.5 conversion rate. There are many persons who will sell you usd for that and wire it abroad.

This is akin to selling your house at a 25% discount though but I guess it depends on the individual circumstances one may take that route.

In my wife's family's case they have been living Canada a long time so its not like they needed seed money to get started across there.

You could do alot more with 100k usd than 850k TT.

best advice i hear in months. no sense in beating a dead horse.

[The_Honourable]

2022 Emerging Trends in Commercial Real Estate

3 hour webinar for those interested. Recording is below.

Commercial Real Estate Webinar titled 'Current Global Economic Trends & the Impact on T&T's Commercial Real Estate Market' hosted by G.A. Farrell & Associates Limited, held on Thursday 27th October 2022.

[ruffneck_12]

yeah bmt

Inflation due to war and manipulated food markets gonna mean nobody gonna buy houses

Which means prices gonna drop just now. Buy low sell high

[ProtonPowder]

real estate does not drop in trinidad, it only stagnates

Too much purchasing power from money launderers and monopolies, the middle and working classes do not factor into this equation in TnT.

[paid_influencer]

trinidad in a different position now than ever before tho. we in a nosedive

[hustla_ambition101]

real estate does not drop in trinidad, it only stagnates

Too much purchasing power from money launderers and monopolies, the middle and working classes do not factor into this equation in TnT.

Exactly, the underworld is fuelling a lot of the economy.

[eliteauto]

If you can buy, in un(der)developed areas at lower rates and wait it out, that's the way to go, that's assuming you don't want property for live-in purposes right away. A 15000sqft unapproved at sub-agricultural prices is a nice buy, hold until the area develops, sub-divide if you can, and sell some to finance your construction, alternatively, the new valuation in 5-10 years with a reclassification can be the collateral for a mortgage or you can even sell the parcel and given the market at least triple your investment.

[hover11]

Alot of ppl waiting for the "housing crash" but I don't think that will apply to us. Our economy could be in the gutter but prices remain the same or even worse escalate. Imagine during covid when everything was basically closed property value escalated the law of economics does not apply to Trinidad. Demand and supply does not thrive here.

[pugboy]

correct, we also don’t have the credit finance crashes

[adnj]

Housing prices in the US and the UK increased about 8% to 25% after the start of the COVID lockdowns.

[ruffneck_12]

If you can buy, in un(der)developed areas at lower rates and wait it out, that's the way to go, that's assuming you don't want property for live-in purposes right away. A 15000sqft unapproved at sub-agricultural prices is a nice buy, hold until the area develops, sub-divide if you can, and sell some to finance your construction, alternatively, the new valuation in 5-10 years with a reclassification can be the collateral for a mortgage or you can even sell the parcel and given the market at least triple your investment.

Good talk

Housing prices in the US and the UK increased about 8% to 25% after the start of the COVID lockdowns.

damn wtf

[SuperiorMan]

For long-term, is real estate investment in the US safer than Trinidad?

[bluefete]

For long-term, is real estate investment in the US safer than Trinidad?

Stick with T&T. Real estate prices do not really drop here.

[SuperiorMan]

For long-term, is real estate investment in the US safer than Trinidad?

Stick with T&T. Real estate prices do not really drop here.

Is it less liquid/harder to sell if you plan to migrate/or are living abroad though?

[The_Honourable]

For those interested:

G.A. Farrell & Associates Limited - 2024 Residential Webinar titled 'Property Insights 2024'

Our speakers:

- Dr. Indera Sagewan: Impact of Macroeconomic Factors on Real Estate Prices

- Ms. Sally Singh: Changing tastes of buyers and the types of properties that are increasing in demand

- Ms. Dawn Glaisher: Spotlight on Tobago Residential Real Estate

- Mr. Ryan Chin: Updates & Developments in Residential Real Estate Values

[shake d livin wake d dead]

Buy property on my ends....the state views you as living in the bush and charge you next to nothing for property tax...

Tune in again for more advice

[Mmoney607]

3m, Mendez drive, champs fleur

https://www.dynamicrealestatett.com/pro ... s-for-sale

[redmanjp]

right now i cud barely qualify for $0.9m and that's before i took a car loan

[adnj]

3m, Mendez drive, champs fleur

https://www.dynamicrealestatett.com/pro ... s-for-sale

The building was started 20 years ago.

[ky1e]

If you're feeling uneasy about the economy, it might not be a bad idea to hold off a bit. Real estate can be a big commitment, and if you're worried about the market, waiting could give you more stability and better options down the road.

[Thomas 007]

At the same time it can eat you if the prices are going down. Best tactic is to see what's the market price and decide from there if you want more for it try and wait, but if you're happy go for it.

[j.o.e]

I say buy … but buy smart if you not ready to commit to a place long term. A plot of land, a fixer upper. Those ‘luxury’ condos/ gated communities are over priced in this market.

[Chimera]

I say buy … but buy smart if you not ready to commit to a place long term. A plot of land, a fixer upper. Those ‘luxury’ condos/ gated communities are over priced in this market.

But easy to get loan

[timelapse]

The old injun adage applies now more than ever.
Buy land and hold on to it

[AlphaMan]

Can anyone explain how Rowley got his hands on 8 properties while the average trini can barely afford 1 home in a lifetime.

[timelapse]

Can anyone explain how Rowley got his hands on 8 properties while the average trini can barely afford 1 home in a lifetime.

Easy answer:
Kyamalah tief out all de morney

[Dohplaydat]

Can anyone explain how Rowley got his hands on 8 properties while the average trini can barely afford 1 home in a lifetime.

Easy answer:
Kyamalah tief out all de morney

Lol it's a lot lot more than 8

[screwbash]

when an ad for land state " Cash buyer only" what does this mean? i realize it means they want cash but is there something wrong with the land such as it is lease land or crown land or is the land already in a mortgage so it cannot be mortgage again ??? anyone knows

[The_Honourable]

when an ad for land state " Cash buyer only" what does this mean? i realize it means they want cash but is there something wrong with the land such as it is lease land or crown land or is the land already in a mortgage so it cannot be mortgage again ??? anyone knows

It means the land has no town and country approvals so you can't get financing such as a mortgage to purchase.

Since no mortgage from any financial institution, you can only buy with cash.

Doesn't always mean the land is bad. There are examples where the seller doesn't have the funds to get approvals so the buyer purchases in cash and takes on the burden to get approvals. The buyer then sells at a higher price or obtain financing to build.

[Chimera]

when an ad for land state " Cash buyer only" what does this mean? i realize it means they want cash but is there something wrong with the land such as it is lease land or crown land or is the land already in a mortgage so it cannot be mortgage again ??? anyone knows

It mean u hadda walk with cash and the seller will walk with the land and meet yuh laventille a night and u buy it straight cash.