Real estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all security and about the only indestructible security. – Russell Sage
Are you looking for you dream house?
Then you need to read this before buying or investing in your house.
These simple guidelines can help you choose your dream house and they can get you high ROI.
1. Buy or Finance?
Should you be buying the property with cash or should you be financing it?
Well it depends, Buying can give you various benefits like it helps you generate positive cash flow.
By renting your apartment you can generate monthly returns.
On the other hand financing can give you better returns. You need to invest less amount of money. With returns you can pay the interest bills easily.
2. Right Location
Finding a right location can be difficult task but not Impossible.A city or locale where the population is growing represents a potential investment opportunity. If you are looking for returns form the apartment that you are buying, then this condition should be satisfied. Having a house at a good location can give you long term benefits too. Location can also include a decent school district, and plenty of amenities, such as parks, malls, restaurants, and movie theatres, public transportation, and a growing job market may mean a larger pool of potential renters.
3. Invest in Landlord Insurance
Protect your new home by having a full landlord insurance, in case of any physical damages like fire, electricity serge. Though insurances does not cover any act of god claim. But securing your investment by having an insurance is a good deal. It can also cover property maintenance so in case of renovation it can be used as a good asset.
4. Know Your Legal Obligations
Owners should be familiar with the laws associated with real estate. One should be familiar with the contract and property law if they are thinking of renting the apartment.You should be knowing about your rights likesecurity deposits, lease requirements, eviction rules, fair housing, and more in order to avoid legal hassles.
5. High-Interest Rates
The cost of borrowing money might be relatively cheap in 2020, but the interest rate on an investment property is generally higher than a traditional mortgage interest rate. If you do decide to finance your purchase, you need a low mortgage payment that won’t eat into your monthly profits too much.
Be realistic in your expectations. As with any investment, rental property isn’t going to produce a large monthly pay check right away, and picking the wrong property could be a catastrophic mistake.
For your first rental property, consider working with an experienced partner like Shriratnam group projects
Contact – Shriratnam groups projects
9772567444 – 9772589444