Top 5 Features of a Profitable Real Estate Investment
The time has come when a mere salary is not enough to provide for a comfortable living of a family. Each one of us needs to think about some ways of making our money work for us. Investments are definitely a clear and feasible option for most.
Having a diverse investment portfolio is a must to ensure future security. In recent times, the real estate sector has proven to be one of the dependable options available to us, by showing steady growth and increase in value in most countries around the world. If you are thinking about having a profitable investment to your name, this is a sector worth looking at. Here are the top 10 features your real estate investment should have in order to guarantee profits in the years to come.
It is said that location is the key to a profitable real estate investment, regardless of whether it is in the residential or commercial sector of the industry. This cannot be emphasized enough. Starting from the type of space you buy, the building you invest in, the location of the building, the direct vicinity alongside it, the neighborhood and its surrounding, all factors impact the type of tenants you attract, how often you face vacancies, and what kind of price you get on resale. A good property more than often is situated in a clean a beautiful neighborhood, in a building that is well-maintained and aesthetically appealing.
It is no secret that these days most families that are looking for rental housing or buying a home are young families, either with school going children or in the midst of planning a family. And, education is one of the top priorities for this segment of society. This translates into many buyers looking for homes near renowned schools and educational institutions. Hence, it may be a good idea to invest in property that is located in close proximity to well-known schools and colleges.
Amenities and convenience in terms of commutation play a very important role in the potential of appreciation of a property. No matter how beautiful a house is, nobody wants to drive 20 minutes just to buy groceries or watch a movie. It is important for amenities such as parks, malls, gyms, cinema theatres, activity centers, etc to be available in the neighborhood or close by. A good property is located accessible to such amenities in addition to transportation hubs of the city or town.
Safety is an extremely important factor for buyers and tenants. This means that investors have to be careful about the locality’s reputation and crime rate. It may be wise to check with the local police station about the overall crime complaints regarding the particular area well before you decide to buy the property, because the crime rate affects the rental income and value of the investment to a great extent, especially over time. Just think about it, would you want to move to a locality that is known for break-ins?
There was a time when areas used to be either commercial or residential, but this does not hold true anymore. Today, most commercial areas have residential buildings, while most residential localities boast of commercial activities. And, people want to live close to work to save on travel time. In most cases, the housing spaces in booming commercial hubs are expensive compared to exclusive residential areas on the outskirts of the city like properties in Ghatkopar. This also means higher rental income for the investor.
Whether you are buying properties in Ghatkopar or New York City, you will need to employ the expertise of a real estate broker to ensure you have a profitable investment on your hands. So, make sure you contact the best.
Bio – Jack Dawson is a freelance writer for the Internet. He also works for a local real estate agency dealing with properties in Ghatkopar. Jack enjoys writing articles and blogging on a wide range of topics from real estate to fitness and lifestyle.