4 Essential Reasons to Consider Purchasing a Duplex

The vacancy rate in Chittenden County has dropped from 4.4% in December to 2.7% in May, according to Allen & Brooks’ latest market report. With a rate this low, it is an investor’s market! Very low vacancy rates may cause rental prices to dramatically increase with demand.

If you are looking to start building equity, owning a duplex offers the perfect blend of both personal and business investment. The clear advantage over single family home ownership is the income revenue stream that a duplex generates. Here are Mike Conroy’s 4 essential reasons to consider purchasing a duplex:

1. Own a home AND have some cash flow!
A duplex allows you to occupy one side and gives you the ability to create a cash flow source. Investment and utility all in one.

2. Home equity FASTER!
Use your rental income to leverage your mortgage payments. Use the rental income as an extra monthly payment on the mortgage and effectively half your mortgage term. You’ll reduce the interest paid and accelerate your home equity- which can be borrowed against if needed.

3. A unique living situations for caregivers
If you need to take care of someone in your family who needs close supervision, but both parties prefer a bit of privacy, the space a duplex is a simple solution.

4. Future rental options.
After owner occupying your unit for some time you can build equity and when you’re ready to move to your next property, you’ll have a rental property. By that time, you’ll completely understand running a property and have perspective as both the landlord and tenant.

Browse a sampling of duplexes for sale:
Chittenden County
Franklin County
Grand Isle County
Addison County

Contact Mike Conroy with any questions about buying and selling real estate at 802-363-3356 or mike@conroyandcompany.com.

Conroy & Company is a Keller Williams Vermont team of Realtors located in South Burlington, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003.

Helping First Time Home Buyers with the Process (An Interview)

Buying a home for the first time can be stressful. In the following interview, Dave Kleh, Realtor at Conroy & Company – KW Vermont Real Estate, provides some of the advice he gives his first time homebuyers when they’re going through the process as well as his advice to them for the future.

What is it like working with buyers who are purchasing for the first time?

Buyers may know what’s on their wish list such as “location, number of bedrooms, and a garage.” However many first time homebuyers don’t know about the important things like the roof, windows, and furnace. I want to make sure they know if they’re going to buy an old house with old windows, they need to have a budget to replace them. That’s the type of thing that they really look to a professional like me for. A lot of people don’t realize there are different types of heating systems – forced hot air, baseboard, radiant… and even different types of heat like gas, electric, or propane.

A lot of education is involved. I often times feel like a teacher or a parent to some of my buyers. I do everything I can to make sure they don’t buy a house that may have too many unforeseen repairs that they can’t repair.

What advice do you give first time homebuyers about their future?

I always consult with them about their exit strategy. If they’re finding issues with a house, for instance, if it’s next to a busy highway, chances are, you’re going to have issues with buyers when you go to sell it. The average American family moves every 7 years. Start with something small, built up some equity, and build up to your next house.

On average, how long does it take to buy?

It all depends on the buyers. Some folks buy right away while others take a bit longer. I’ve had some buyers lose their job mid-search and they called me 2 years later when they were able to begin looking again. It’s rewarding to be a part of their journey.

What should buyers do prior to beginning a home search?

They should first meet with me to consult about the home buying process. They then should go to a bank and get pre-approved so they can find out how much they can afford.

What to you like most about working with buyers and sellers?

The best part is when the closing is done and the people own a house. They’re euphoric – they have butterflies. They’re happy and excited to be starting a new life in their new home. All along the way, I’m their “property manager”, “psychologist”, Realtor, etc… but at the end of the day, when they’ve gotten their keys and deed, it’s just the nicest feeling when you’ve helped them get to that point.

How did you get into real estate?

I owned a local business, Pizza Putt, for 13.5 years and decided to do something different at 47 years old. After I sold the business, I acquired my real estate license. I was always interested in real estate, and several friends encouraged me to become a Realtor. I got the study books, took the tests, and passed both the national and state tests with high 90’s.

For over a decade, Dave has been selling real estate in the Greater Burlington area. He began selling real estate in 2005, joined KW Vermont in 2010 and Company & Company in 2012. You can ask Dave any of your real estate questions at dave@conroyandcompany.com or 802-363-1820.

Conroy & Company is a Keller Williams Vermont team of Realtors located in South Burlington, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003.

Conroy & Company is Bringing Our Listings to Life with 3D Matterport Technology

MatterportConroy & Company Real Estate at Keller Williams Vermont is using Matterport’s cutting edge 3D technology and is changing the way buyers are interacting with their listings. This new technology is supplementing traditional video and photography, and it is allowing buyers to be digitally immersed in a property – to walk-through and experience the home as if they were actually there. For sellers, this is revolutionary. According to REA Group, Matterport customers report that they receive 95% more calls and 65% more emails about properties online with a Matterport 3D tour.

What is Matterport?

Matterport DollhouseMatterport is a technology company, based out of Sunnyvale California, that uses its 3D software to stitch 360-degree photos together to create a new experience for digital marketing. Their proprietary camera and software captures 10 million points per second and then produces 3D-dollhouse renderings, floor plans, and an immersive tour that can be viewed normally or in virtual reality across any device.

Every 3D Showcase is a completely immersive 3D representation of a space. The “dollhouse view” provides a total understanding of how a property fits together, while the “inside view” lets anyone navigate a 3D space.

Floor PlanAccording to Matterport’s CEO, Bill Brown, the company’s mission is “to give people the freedom to experience any place at any time… establishing 3D and VR models as a primary medium for experiencing, sharing and re-imaging the world.”

Conroy & Company’s cutting edge approach to marketing real estate is motivating serious buyers to interact with our listings. Call us today to learn more about our strategy and discuss how it can help you. With inventory incredibly low, now is the time to list your home.

Experience Our Listings:

67 Pinnacle Drive, So. Burlington
14 Messenger Street, St. Albans
453 So. Willard Street, Burlington
55 Cushing Drive, Essex Junction
290 Cemetary Road, Richmond

 

Conroy & Company is a Keller Williams Vermont team located in Colchester, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003. Questions? Contact Mike Conroy – mike@conroyandcompany.com or 802-363-3356

Pinnacle At Spear Street, South Burlington for sale

Our newest listing in South Burlington is a beauty!  Just off Spear Street with peeks at Lake Champlain, this home offers so many options for today’s home owning needs, you will truly be amazed, and prone to dreaming!  Need an in home office – or two – check.  Someplace private yet integrated for the in-laws or extended family – check.  How about an au pair suite, or maybe an international student living/sleeping quarters – check.  Entertaining space on the first, second and lower levels – yes!  Chef’s kitchen with a grand dining room framed with tray ceilings above and cherry flooring below – of course.  4 bedrooms includes the Master suite on the first floor with views and access to the rear deck and its southern light, and on and on………..

Truly, there is too much to write about.  We invite your to click on any photo below and take our Matterport 3 D virtual tour and click your way through every little detail you want, or let the YouTube version do the exploring for you!  The contact us for a showing and see for yourself.  A remarkable, intimate and warm and oversized contemporary in South Burlington.

And click right here to get the MLS data!

 

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Market Update for Northwestern Vermont

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We’ve said it before…and we will say it again. Real Estate is about Life. If you want to know what is going on in your state, town, or even in your neighborhood look to see what is going on in the Real Estate Market. If you know what to look for there are great insights to be gained. This page will always contain the most up to date stats for Northwestern Vermont.  You can come back again and again As always should you ever have any Real Estate related questions feel free to give us a call 802.863.9100. We’re here to help!

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Just listed: Colchester, VT duplex

375 Belwood Ave, Colchester VT

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Invest today and start earning immediately! Great 2 unit with existing leases (Unit 1 May 2015 and Unit 2 Aug 2015.) Located in a convenient Colchester just 10 min from downtown Burlington. Newer furnace, 2 new hot water heaters, and upgraded septic system. Solid rental history here!

 

 

Burlington Vermont Elementary Schools

Sustainability Academy at Lawrence Barnes, Integrated Arts Academy at H.O.Wheeler, C. P. Smith Elementary School, Champlain Elementary School,JJ Flynn Elementary School, Edmunds Elementary School, Burlington Schools, Burlington magnet school
School is OUT! But if you are a parent looking at making a move it is on your mind!

Summer has arrived and school is out-and the last thing on the minds of many. For parents considering a move school is heavy on their mind. If you are a parent considering a move to Burlington Vermont relax a bit-we’ve got you covered!

Here are a few key details to paint the picture of schooling in Burlington VT. School choice is great benefit of living in the Queencity! Residents of Burlington Vermont are free to choose the Elementary School their child/children will attend. We have wonderful Traditional Schools and even a couple of  unique Magnet Schools. Enrollment is ultimately determined by school capacity. Below are links to Burlington Elementary Schools which will help you to establish what  your school choice will be.  CLICK HERE For additional information on how to register for any of Burlington VT’s schools.

Elementary

Edmunds Elementary School

JJ Flynn Elementary School

Champlain Elementary School

C. P. Smith Elementary School

Burlington Magnet Schools-Elementary

Magnet schools are schools of choice with an   academic/social focus on a chosen theme.

Integrated Arts Academy at H.O.Wheeler

Sustainability Academy at Lawrence Barnes

More details at Burlington School District

 

Colchester Duplex Just Listed

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71 Sand Rd, Colchester ,VT-This property is more than just a pretty face. First time investors may want to consider owner occupancy here. Seasoned investors will be happy with this as a straight investment. Those just looking for a cool home in Colchester can invite guests to stay in the downstairs apartment. Great location with lovely grounds and serene view of the pond. Many reasons to see this one!

 

Just Listed: Burlington VT-2 bedroom condo

Charm and urban convenience. This turn of the (19th) century condo in the heart of Burlington features distinctive details including 9’ceilings, crown molding, and beautiful wood floors – you will love the warmth and open floor plan of this home! Totally renovated in 2007, it’s light and airy and just a short walk to the lake and Marketplace. Basement storage, off street parking and lovely green space including garden complete the package. Bring your pets, too! Click for More 

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