Real estate has always been considered as lucrative and juicy in terms of investment. No matter which class a person belongs to, the urge to invest in a real estate is something like a dream of everyone. But on the other hand, there are some serious points of concerns when real estate investment is considered. Just buying the property is insufficient for the generation of income, one wrong decision can become a loss of a life time. So let’s roll on to some basic important to consider for real estate investment:
Area of the property: area of property for any real estate investment is essential, otherwise things may not go in favor in terms of cash inflow. This is important to select the area of property wisely for example: try not to select any property in some affected area, there are some areas where trespassing is quite common (and this is common in so many countries). There are so many cases registered under the umbrella of trespassing, where anonymous persons capture the property of someone and try to claim as theirs. Go here for more information about investment properties.
Paper work: certainly for any or every investment paper work is quite important, otherwise things may get messy in no time. It is important to understand the significance of the paper work, not in terms to prove the ownership, but also to check and re-check if there is any dispute against that property. In some countries this has been recommended by so many people to advertise before buying a property (which means that the buyer is letting everybody know that the property is being bought and if anybody has some reservation let the buyer or seller know before the actual agreement takes place). In short the prospective property must not be disputed.
Formalities: Try to hire a professional if necessary in order to understand the paper work, without which the owner could be contestable. If the ownership cannot be proven there is no point of buying a property, as no further agreement can be established without the proper documentation of ownership.
Wear and tear of the property: it is as important as paperwork that after the property is bought. Maintain the health of the property means any or every issue related to the overall maintenance of the house must be addressed timely. In order to prevent any serious damage to happen, yearly maintenance, house paint once in 4 to 5 years (depends on the area of the property is a must.
The aforementioned are some basic rules for anybody who wants to invest in real estate, investment property advice of money in a real estate is something serious and deserves a lot of thinking and investigation. Otherwise it may become a sunk cost or a bad debt or worst scenario an irrecoverable amount of money.