What Top Achieving Real Estate Professionals Have On Their Websites Part 4

March 26, 2010

For instance, in some Toronto neighborhoods you can find homes that were built with separate accommodations for horses (coach houses).  Some wealthier homes have separate quarters once designated for butlers that are now rented out.  People living in older homes will often be interested in knowing the pedigree of their home, and your site can provide that.

You don’t necessarily have to re-invent the wheel and create your own content.  There may already be people in your area who have created a website for the area’s local history.  You can link to these sites or use their content, but be sure to credit it to them – don’t try passing it off as your own if it isn’t yours.

Calculators – there are a variety of tools (some turn-key) you can provide your website visitors to aid them in their home buying decision.  Some are common such as mortgage calculators.  Some are more interesting and not found on many sites.  One calculator I found determines whether it’s more economical to rent or buy based on several factors the user can input.  I put in the following numbers to the calculator:

Monthly payment if you bought: $1300
Down payment: $30000
Annual Property Taxes: $2136.95 (based upon a $250,000 property for Toronto in 2009)
Interest Rate: 4%
Home value will increase annually by: 5%
Monthly rent: $1100
Years Of Comparison: 5 years

This is the report this site gave me:

“You Should Buy!

It looks like you should Buy based on the assumptions you have given us.

Why? If you buy for $243284.74 (the maximum you would qualify for) you will pay down your mortgage of $213284.74 by $27612.02 over 5 year(s) with your Principal and Interest payments of $1121.92 per month, plus your property will increase in value by $67215.09 for a total investment growth of $94827.11.

This total is greater than your total investment growth from renting, which is approximately $9419.55 after 5 year(s). This was calculated by growing the monthly savings from renting ($200.00) plus your current downpayment of $30000.00 at a standard after-tax rate of 4% per annum.”

A short, punchy analysis like this can obviously put in perspective for renters how beneficial it is to buy a home sooner rather than later.

I also saw a calculator designed for investors (and the more analytical home buyers) where they can put in more detailed information such as the various operating expenses to determine return on investment.  Professional real estate investors who buy regularly and strictly based on numbers will value this feature greatly.

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