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Rabu, 26 Julai 2017

You only need these advices for your property investment

Assalamualaikum...(^ ^)

Investing in property can be intimidating. Often thought to be a "rich-man’s game", ordinary people like you and me can benefit too. It basically comes down to strategy, as well as only implementing suggestions and ideas that suit you and your property investment needs. In this article we will break down some of the best real estate investment strategies and suggestions.


1. Location, location, location
As you can probably already guess, location is very important in ensuring the success of your Penang property investment. Whether you are buying the real estate for yourself, your family, to rent out or even to flip, it’s important to purchase in a desirable location. Even if you aren’t planning to sell anytime in the near future, if the day comes when you need to, you’ll wish you had chosen a better location in the first place. Good locations make a huge impact on the potential growth of the property as well as the price. Even though more desirable locations can come with a higher price tag, you will also be able to charge a higher rent. 

You may be wondering: What makes a good location? 
Well, for example if you’re purchasing a house to rent out, take a look at the surrounding businesses and neighborhood. Is the property near a good school? Is the property near a bus stop? Is there a grocery store within a reasonable distance? Things like these can make a huge difference in whether someone is willing to rent from you. If the location is less than ideal, does the property make up for it in amenities? If it’s 20 miles away from the nearest town, is it located on a nice amount of land? Does it have a pool or workout room to occupy residents? By taking all of these things into consideration, you will be able to choose the property right for you. 


2. Find a good property manager/real estate agent
Whatever the reason for investing in real estate, the real estate agent you hire to work with you is going to play a huge role in finding you a solid property. If you’re planning to rent out the property, hiring a good property manager to handle the day to day operations as well as to deal with the tenants is key. A good property manager should make your life as easy as possible, allowing you to focus on your own life as well as potentially investing in more real estate. 

Note: Most property managers are also licensed real estate agents. This means they should have at minimum a basic understanding of property laws, local and otherwise, as well as what your rights and duties as a landlord entail. Many real estate agents and property managers can also provide professional contacts that you might not otherwise have access to. 


3. Before you purchase, make sure to have the property thoroughly inspected
Ensuring the property itself is solid, before you purchase, can save a lifetime of hassle later down the road. Even if the property is cheap, factor in the cost of repairs to make sure you still come out ahead. Hire a good property inspector to check the age and condition of the entire property. In addition to an initial inspection, make sure your property inspector inspects the building at least once a year to ensure everything remains safe and functional for any prospective buyers or tenants. When conducting the yearly inspection, make sure to give the proper notice to any current tenants, saving any legal hassle. Take note of laws in your area that protect tenants against unlawful inspections. Happy tenants make your life easier. 

Standard inspection checklist items include: 
(i) Ensuring there is at least one working smoke alarm on each floor of the property, several spaced out on each floor if possible.

(ii) In addition to smoke detectors, there should be a functional carbon monoxide detector in any room that has a fuel-burning device in it.

(iii) Make sure that heating, water, electricity is adequate. Heating in colder regions is very important.

(iv) There should be several entry/exit points in houses, as well as at least one emergency exit in apartment buildings. In case of an emergency, tenants and residents should be able to evacuate the property as quickly as possible.

(v) Check to make sure all appliances are working properly and are safe to use. This generally includes at the minimum a stove/oven, refrigerator, shower, toilet and sinks. Also check all electrical components like outlets and cable jacks to make sure those work as well. 


4. Choose the type of property wisely
While houses can be a more attractive real estate investment, if your budget is thin, consider purchasing an apartment complex instead. There are pros and cons to both properties that you should take note of. Houses and other landed properties tend to be more expensive than apartment complexes, however can be in higher demand depending on the area. In addition, they also appreciate in value much more than apartments. On the other hand, apartments are ideal for renting out, and are generally a cheaper investment overall. It’s important to work with your real estate agent and find something within your budget that will suit your needs. 


5. Make your property attractive to potential tenants
This is really only applicable if you’re planning to rent out your newly purchased property. If this is your end goal, make sure to make the property as attractive as possible. This includes exterior as well as interior. It can mean repainting the outside of the building or working with a landscaper. It also means keeping the interior walls, primarily in the kitchen and bathroom, a soft neutral tone. You want the space to be inviting. It sometimes helps to picture yourself living in the property. If you wouldn’t want to live there, chances are any potential tenants won’t either. 


Hopefully this article helped you get a closer look at what all real estate investment entails. It can be a stressful industry for sure, but also an extremely rewarding one. If you think you’re ready to take on a new challenge, call your real estate agent today. 

13 ulasan:

  1. Agreed - location is very important when buying property, especially if plan to rent it out

    BalasPadam
  2. Benar...lokasi dan kemudahan sekeliling...kalau ada kawasan berdekatan sekolah, pasaraya dan mall ia jadi mudah untuk disewakan...

    BalasPadam
  3. Dulu xde la nk siasat lebih2 sgt. Sbb fikir takde depo.. tu yg grab. Hahaha.. next time nak beli kena fikir la. Sbb nk fokus utk sewakan pula.

    BalasPadam
  4. Totally agreed.. Location is the most important things to considered..kan.. Good sharing..

    BalasPadam
  5. betul gak tu .. aritu pernah nak beli rumah dekat dengan University , tapi tak jadi.. skrg nyesal pulak.. hahaha harga tu dah naik !! ermm rugi kan... kalau lah dlu beli awal2. tp not bad gak rumah yg baru beli awal tahun ritu ... corner and dekat dengan sekolah hehehe ....

    BalasPadam
  6. Location memang the most priority la selalunya. Good tips!

    BalasPadam
  7. good sharing about properties. =)

    BalasPadam
  8. tips yang cukup menarik... hihihi

    BalasPadam
  9. property ni kalau nak cari kena nengok lokasi jugakk..

    BalasPadam
  10. I like everything about property investment..
    Good tips to share..

    BalasPadam

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