Buying property requires a careful planning, especially if the goal is for the investment. Do not choose the wrong property. Rather than make a profit, you could actually lose. Most people will buy a home because of its price. But you should not be easily tempted by low prices. Low prices must have consequences which typically are not expected by the property purchaser.
Consider the home location
When you want to start a property investment, you should know that the home you buy is located in a good location. The term good here not only refers to the facilities and infrastructure around it. You also need to consider the social environment. Make sure the location of the house is not in the path of where natural disasters often occurs, such as an area which is often flooded. Home prices in this area may be cheap, but its value would be difficult to develop.
The best home location is the one that has the potential to grow. Thus, a home location near cities become a very lucrative location for property investment. But it should be noted, the residential location is also quite favorable. Although the value is not growing rapidly, these locations tend to be much sought after by home seekers. Therefore you also need to know the direction of the development of the residential area.
Consider the home condition
Now you probably already have an idea of any favorable location for property investment. But you should also consider the condition of the home to be purchased. At this stage you need to pay attention to the condition of the house. When buying a used home, make sure whether the house is still pretty good. If there is damage, make sure the damage is not severe. At least you’ll still be able to fix it. If you buy a new home, considering the home will be easier, because it is new.
Also consider the numbers of rooms available. At least make sure that the house has sufficient rooms to accommodate your entire family members. Living room, bedroom, bathroom and kitchen should be there. It would be better if there are still empty land that can be used to build new building/rooms. In addition, also consider the waste disposal facilities.
Consider the price
Price also needs to be considered. But do not be easily tempted by the low prices. Choose a home that has a reasonable price. To find out this home, of course you have to know the market value. Find information on home prices around the area. Furthermore, consider the condition of the home and its location as well. If the price is reasonable and will be beneficial for investment, you can buy it.
You can try to bargain the price of the property that you will buy. If it is a second hand property, it will be easier to bargain. But you still have to have a maximum price standard. If the price offered is too much above your predetermined standard, you can start looking for another home for property investment .
Image credit: investorsedge.com.au