Crucial information for first timers: Real estate investment
Buying real estate is about more than just finding a place to call home. Investing in real estate has become increasingly popular and has become a common investment vehicle thanks to the torrential rises in real estate prices these past decades. It can be overwhelming for a first-time investor, as the real estate investment industry is riddled with various scenarios and situations that can decimate your returns.
Here are few vital features first-time investors should evaluate and consider when hunting for that perfect real estate investment property.
As the rule of thumb to any real-estate property, location is a key factor. When it comes to investment houses, location plays an even more important role. Location as a key factor shall affect the percentage of price rise, the future rental income, future infrastructure development, taxes and insurance etc..
When it comes to investing in condos and apartments or even houses sometimes, one of the key features the investor has to take into consideration is the amenities that are available. This may include gym facilities, swimming pool, in-suite laundry, sauna, concierge etc.. The rental value of properties with good and up to date amenities will have good future rental value.
One of the top considerations for your renters may hinge on the school district and specific schools that they want their children to attend. Researching the local schools will be a key variable which can increase your renter pool as well as significantly impact the overall appreciation of your investment property.
What attractions are nearby that will both be a draw and requirement for renters? Things that must be considered are shopping malls, parks, movie theatres, gyms and access to public transportation.
No one wants to live in an unsafe neighbourhood. You can inquire about crime rates. Again, Statistics Canada is a great resource, and even the local police department can tell you whether the neighbourhood is safe and secure
Conclusion: There’s no magic secret. Become a successful real estate investor takes time and dedication. But acquiring real estate investing skills can have a life-changing effect. If you’re ready to put in the work and learn, ReVa can help you in every step on your way to real-estate success.