Choosing a condo investment requires the right steps. Otherwise, competition and other investors’ offer attract more tenants or condos buyers. Aside from that, perhaps you need to take a look at the recommended stirling residences as well.
The following steps, for example, should be known if you are interested in investing in the condominium sector:
In order for condominium targets to be right, an investor knows the purpose of his investment. Therefore, investment interest must be seen, ie long term or short term.
Short-term condo investment means that investors are interested in buying before the construction will be resold after the unit is finished. While in long-term condo investment, investors will buy for later sale again in 5 – 10 years.
Condo investment is currently supported with unlimited occupancy. Consumers are not just expatriates. Local consumers in the big cities are currently shifting to vertical housing due to the limited supply of affordable homes. There are also consumers who are accustomed to living in an apartment or condominium while still studying abroad. To that end, an investor needs to see who his target is tailored to the location of his property.
Select units and developers
For investors, the successful steps to invest in condominiums cannot be separated from the importance of location. A premium location with the right target is definitely an absolute requirement. In addition, investors need to consider how the condo developer’s achievements. Instead, investors do not buy condos from developers with the construction of the number of units very much. Due to the proliferation of condominium sales, the number of units that are too much will be more difficult when resold.
To gain profit, condo investors buy units at pre-sale. Then, the unit is sold when the condo is ready. For condos that are sold 2 – 3 years after completion of construction can benefit 80%.