Property shopping There is a huge financial decision, but a lot of people do not consider an important question before taking this major decisions whether the property (house, flat) he is taking is to live or for investment? It is very important to understand the basic difference in both these objectives before putting money in the property. Investing without making a difference, you may have to face many problems. Let us understand what is the difference between ourselves to live or for investment and what should be taken care of?
Buying for investment: –
- Buy small size property: If you are buying property for investment, do not take the size big. There is always a demand for small size flat. The price of property also increases rapidly. Rental also earns well.
- See Return on Investment (ROI): See the Return on Investment (ROI) before purchasing property for investment. Find out how much the price of the location in which you are buying property will increase in the coming 5–10 years.
- Find Rental Demand: For investment, please assess the rental income in the property. This will benefit you double. Increasing the price of a property will give the benefit of capital application. The second rental will continue to have income.
- Know who Buyers: Before purchasing the property for investment, check the demand of the property in that area. This will easily sell your reception when needed.
Buying houses for yourself: –
- Must see emotional value: The house is not a thing to buy again and again. So understand your need before buying a house to live yourself. What a big house you need. If parents stay together, it would be right to take home on which floor. How much can the budget be stretched. After this, take a decision. Always remember that the house will know your dream and permanent.
- See location and connectivity: If you are looking at the flat to live yourself, then first of all see its location and connectivity. Do check connectivity with office, school, hospital, market.
- Pay attention to infrastructure: If you are buying a house to live on your own, then definitely pay attention to the infrastructure development. How is the condition of road, drain, electricity, water etc. Avoid buying if infrastructure is developing or bad.
- Commuting and safety Prioritizing commuting and safety in buying your own home, as it will affect daily life.
Latest business news
