Secrets of Investing in Real estate
The secrets can be listed as :
- Choosing the right location
- Buying for future appreciation
- Renting the property
- Buying Commercial property
These secrets are continuing in the market since years. You only need to harness it in right manner. For example, if a property is available for low cost, you are at advantage. But if that property is rumored to be haunted at night, then you won’t get a dime in future for the same property. So, be alert and implement the secrets attentively.
Property value must get appreciated
The property must be located in an area where developments are taking place. This help in the appreciation of the property as more people like to move in such developed areas. You need to analyze the area with respect to future advancements. For example, if an IT park is to be established within 5 years, then employees would like to rent or buy flat in that area.
Land is not an exception to the rule
Open plots can also be purchased in the current areas. As builders are trying to establish houses and commercial properties on large scale, the open land will be in greater demand in the future. You might have to wait for at ten to fifteen years as the development doesn’t occur in a flick.
Rent your property
You can even rent your property to bachelors or families. In this way, the property is also maintained. You get a stable monthly income in the form of rent. You can also adjust your EMIs in it if you have obtained home loan for buying the property. For example, if you are giving your house at rent of Rs.3000 per month, you earn Rs. 36000 annually. In addition, you do not have to pay for the cleaning or maintenance. But make sure that the tenants are reliable and will take good care of your house.
Location of the property
The property must be located in an easily accessible area. All the amenities such as schools, colleges, departmental stores, medical stores, hotels, jobs are in the close proximity of the location. The tenants and the future buyers always keep this in mind while analyzing the house. The property must not be located in sensitive areas like risky for women, thieves or earthquake-prone.
Renovating the property
For getting the best rent, you can add home improvements such as water storage facility, inverter backup, furniture and electrical appliances. If you are offering a full or semi-furnished flat, then you can charge higher rent.
In order to gain substantial profits, you can invest in commercial property. The rent received or the appreciated property is much higher than that of residential property.
Thus, if you follow the secrets of making money in real estate, you can earn a great deal of profits. Analyze the property, know your budget and forecast the future scenario of the area in which the property is located.
Recommended Read :
- How to Become a Successful Real Estate Investor?
- What is Real Estate Investing?
- How to Find Hotspots in Real Estate Investment?
- Basics of Real Estate Investing
- Secrets of Making Money in Real Estate
- Things to Know Before Starting Real Estate Investment
- Why Should We Invest in Real Estate?
- Future of Real Estate Investment in India
- What is Real Estate Bubble?
- Real Estate Vs Mutual Fund
- Risks Involved in Real Estate Investment
- What is a Commercial Property?
- What is a Residential Property?
- How Interest Rates Affect Real Estate Business?