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Monday, November 21, 2016

Tips to Find the Best Location for Real Estate Investment

1. Think of your future in real estate investment
Your plans to invest in a property will fetch you money in the future. The municipal planning department in an area keeps track of the upcoming development.
This is actually a good sign when choosing an area for investment. Be careful as this development could pose a threat to the neighboring properties.
Also, the idea of having condos or apartments in your surrounding areas can make things hard for you. It might become difficult to find tenants.
People might not provide the rent you are expecting if they could find condos or living spaces for cheap. Here are the five things you should know before renting out your house. Here are the five things you need to know before renting out your house.

2. Who are your neighbors?
Your neighborhood is one of the important aspects that attracts tenants. Also, it will determine the frequency of vacancies that you will have to put up with.
If you own an apartment or flat near to the university, then your tenants would be teachers and students.

3. Educational institutions
This is a common scenario in most places as bachelors or spinsters are least preferred by home owners.
There are many reasons to why people prefer families. If you are focusing on families, then you need to take into account certain factors. Educational facilities are one of the most important aspects of the lot.
Excellent and reputed educational organizations that are accessible attract many tenants. Also, this is another factor that would get you a better sale value when you sell the property. Here are the things that buyers and sellers need to know and realtors will never tell.

4. Do your research
Before you set out, you need to check for advertisements on the vacancies. If you could find a large number of listings then there is something fishy going on and you need to find out.
It could be that the neighborhood is not a proper residential area. Also, when the number of listings is high, it shows how difficult it is to attract tenants.
This means you can cancel the plan to get a property in this particular area.

5. Criminal activities
This is another factor that needs consideration before buying an apartment.
The rate of criminal activities, its growth or decline, and the related statistics. Also, check how often police patrolling happens in the area. You have to consider these top 7 things before buying an apartment in Kerala

6. Facilities and amenities
People prefer areas which are close to the city’s major organizations. These includes hospitals, Railway stations, airport, malls, theaters, gyms, educational institutions, religious places like Vadakkunnathan temple, St. Thomas Syro-Malabar Cathlolic Church etc.
Examine whether all these amenities and facilities are available at a hand’s distance.

7. Job opportunities
Tenants migrate into a new area because they are in search for job opportunities.
This has been attracting many people from outside in search of better job opportunities.

8. Visualize the future
Why are you renting in the first place? You need an extra income as simple as that.
But, what if your rent is too low and insufficient to cover even the taxes? Research the area and the prices before you buy.
This is an important task because you have no idea where you will be heading to in future. Consider the future and then make decisions.

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