‘Buy and hold’ real estate property investment is the most common and safest way of making an investment in real estate. As the property which is the best for ‘buy and hold’ strategy possess dual potential as earns monthly rental income, as well as property value, goes up with the time.
But it is essential to buy a property which is suitable for buy and hold strategy. As the location of the property is very important as because property in the right location could help to find good renters and buyers i.e help you to earn profits.
Here we are sharing what to look for while buying the property for ‘buy and hold’ investment strategy. Though it is good to take advice for expert property valuers WA to get the valuable advice.
1. Choose neighbours wisely – While buying the real estate property for an investment purpose you must check the location with the amenities with schools, shopping communities. Choose the location where public transportation is near, parks and social clubs are close to the property. Overall, an ideal place which liked by the majority of middle-class people. Thus you can easily get the tenant for the property.
You might get property in a bad location at cheap rates but always remember you have to pay in long run and eventually your profitable strategy will turn up into loss game. As you would not be able to find the good tenants for your property in a bad location. Even property at luxury or posh area is not right for “buy and hold” strategy.
2. Type of property – Once you choose the right location on its time to choose the right property type for this investment strategy. For instance multi-family homes, single-family homes, apartments, commercial buildings. Though it has been observed that making an investment in a multi-family home is much better at least you would get rent from another renter if one space is vacant. But in the single family home, no renter means no rent i.e you would not get any money.
Even check the condition of the property. If it demands more improvement and it is too old then one should not invest money in such properties for “Buy and hold” strategy.
3. Make your financial calculations – Overall you are adapting all these strategies because you want to make money. So you should make calculations before buying the property for the ‘buy and hold’ strategy. Invest money where you can get tenants easily where in future you can buy the real estate property.
These are some smart techniques to invest your money in real estates. Hire valuers Perth to know the value of the property. Enjoy investing money in real estate under the guidance of Perth property valuers.