It takes lots of considerations, before purchasing a real estate property. Given two situations:

 A. Buying a property to rent out to tenants;

 B. Buying a property as an owner-occupier.

As such, here are the factors needed before acquiring a real estate property:

  1.     Cost of the Property – Ensure to work out on a budget that fits on hand, whether paying in cash or in a form of a loan.
  2.     Target Market of the Property – search ideal property that will influence ideals tenants like students, professionals, or families with children.
  3.     Location of The Property – The location of the property should be in demand. Bear in mind that the ultimate goal of this investment is to generate profit.
  4.     Physical Condition of the Property – choose a property that are good condition. Ensure the materials and construction strictly adhere to the standards.
  5.     Property Management – if the property is intended for rent-out, decide whether to manage it or have it manage by a property management company. Remember, having a property manager will entail additional cost however it can save the owner’s time.
Share this post