Reasons to Invest in Real Estate

There are many ways of earning money through investment, stocks and real estate being two of the most popular ways. While investment in shares comes with heavy risk, real estate is a safer option. People have been investing in property for years and reaping the benefits. Though the rules of real estate investment are unlike the stock market, it can help you earn a lot if done wisely. Even if you are a successful entrepreneur going sturdy with your primary business ventures, you should probably consider rental real estate as a crucial part of your portfolio. The following article discusses about why you should invest your money in real estate.

real estate
real estate

1. Get more leverage – Real estate is among the few investment tools where using a financial institute’s money is very easy. The have the power to make a down payment, optimize your capital, and ultimately maximize your overall return on investment.

2. Grow, tax-free – Purchasing rental property on the basis of speculation of its future value can be a risky tactic as cash flow is involved. But appreciation in the long run is more realistic and you should be contemplating a tax-deferred plan. You can even consider charitable trust, an installment sale or a 1031 exchange to further decrease your tax liability.

3. Tax-free cash flow – You should be aware that due to mortgage interest deductions (if you optimize your capital) and depreciation, your cash flow becomes tax-free. A majority of the time, the investor will not pay taxes on his or her cash flow and should wait for capital gains that can come from the sale of the asset in the future.

4. Tax write-offs against other earnings – Based on your categorization as a Real Estate Professional or an Active Investor and your income slab, there is a bright chance that other than your rental property generating tax-free cash flow, it will also create an many tax deductions that can be used against your other income. Make sure you discuss this with your tax professional or advisor before making an investment to keep your expectations realistic.

5. More tax deduction strategies – Rental real estate investment provides the investors with yet another option to convert personal expenses into possibly viable business deductions. Remember that rental property and related activities are a part of business, which means that the travel expenses to make payments to relatives who look after your real estate or a trip to simply check on your properties can be deductible and can boost your tax benefits when talking about cash flow and the property’s future sale.

6. It becomes a forced retirement plan – It is an incredible investment option for those who can’t save. Some people may lack the discipline to make regular deposits into retirement or pension plans. Thus, acquiring a rental property is a major commitment that will compel you to stash away money for the future. You will see how it helps you in the long haul and shall be grateful if you don’t sell it. You can generate future cash flow and huge wealth from it later.

Making profits in real estate sector may not be easier than in the stock market, but the less volatility and high appreciation are major factors why you should invest in it, even when it demands heavy research, patience and sometimes luck. Real estate does not promise an overnight “rags to riches”, but you get a security for yourself and your family. Real estate is a long-term investment and making it a part of your diverse portfolio will certainly produce high returns.

Devika Arora has been writing resourceful articles for the avid readers who wish to learn more about real estate in the global context. The above article by Devika discusses about real estate investment and its benefits. Ample research has gone into presenting the reasons why real estate is a profitable investment.

How to Protect Your Home without Breaking the Bank

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As the economy begins to rebuild, budget cuts in many police departments across the country are creating a spike in crime. In 2012, Palo Alto California saw a 63% jump in home burglaries. Detroit Michigan cut its police department’s budget by $75 million for 2012-2013, resulting in a loss of nearly 380 employees. With fewer officers to serve and protect, what should homeowners do to remain safe while still keeping an eye on your budget?

Joining the Neighborhood Watch

When you need to keep your family safe, can you have too many eyes watching your home? Joining the local neighborhood watch group or spearheading the first group in your area is one of the easiest and most cost effective methods of keeping your family and friends safe. In 2009 Jerry Borbon of Miami, a member of the local neighborhood watch, called to police when he noticed a man breaking into a neighbor’s home while they were away. Aside from the obvious, there are a lot of benefits to joining a neighborhood watch program. Just a few of these benefits include:

  • Increasing the number of people watching your home
  • Up-to-date information on local criminal activity
  • Instruction on how to prepare for emergency situations
  • Enhanced communication with local law enforcement

Keep Your Yard Under Control

No matter how many eyes are watching your home, they can only see what you allow them to. Overgrown bushes, shrubs, grass, hedges, and cluttered yards offer many places for criminals to hide. By keeping your landscaping under control, removing large pieces of clutter and decreasing hiding spots, a thief is more likely to be seen when entering your property, rather than when it is too late.

Flood lights and Security Systems

We have all seen the commercials for the leaders in security systems. For many families, the expensive equipment is out of reach. However, there are low cost options available through many of the national security providers such as ADT. Before completely dismissing these well-known security providers, speak with a representative to discuss your options and budget.

My Broken Home

If you are looking for an easier low-cost option, there has been a lot of success with light timers and motion activated flood lights. Although the lights are not meant to notify the police of an intruder, many thieves have been deterred when the light popped on. It is a simple method of removing the cloak of night and showing their position. The average flood light runs between $15-$150 depending on the size of the area you need to monitor.

Increase the Toughness of Doors and Windows

Thieves are only effective if they can get in. If your home is still using the standard glass and doors, you may be at a higher risk than you need to be. Reinforcing your home with security bars, high security window locks, glass-break sensors and security screens can help keep unwanted intruders out. If you don’t like the Fort Knox look for your home, there are reinforced glass and doors that may be installed to keep the look of your home clean while increasing security.

Dogs and Car Alarms

Ask any thief what they hate the most and they will tell you it’s loud dogs and noises. If you have thought of getting that puppy for your kids but haven’t gotten around to it, it may be a good time to stop procrastinating. Even the smallest dog can have a loud enough bark to keep intruders away and let you know someone is there.

Home Invasion Robbery with Shots Fired at 26th and Jefferson

Many new cars come standard with an alarm system, for homeowners this is can save the day. Rather than keeping your keys in the bowl next to the garage door or the entry way, take it to bed with you and keep them on the bedside table. If you hear a noise downstairs in the middle of the night, set off your car alarm and keep it going until you are sure the intruder is gone and every nosy neighbor is on watch. This trick is often used in dark parking lots, but if highly effective when deterring a burglar.

As crime increases, especially in suburban areas, keeping your family safe should be a priority. Create a safety checklist, get involved in the neighborhood watch, find out about home security options and stay smart about how you run your home. The smallest details can mean the difference between keeping intruders out, or inviting them in.

Chelsea McCary is a frequent home security blogger offering tips and tricks to keeping your family safe. Follow her on Twitter @ChelseaMcCary.

Different Types of Property

Real estate agents are very territorial when it comes to their real estate location and type. Even if the location is only a town away from other real estate agents in town, each can still specialize in the same type of property. Luckily, for many real estate agents there are different types of real estate properties they can choose to show and sell; however, they must need the proper education and license to do so.

home property
home property

AGRICULTUAL PROPERTY – Agricultural property is farms, ranches, land, orchards, and timberlands. This type of property requires a licensed agricultural real estate agent in order to sell to buyers. In addition, churches, cemeteries, schools, and government owned land are “special-purpose” properties.

INDUSTRIAL PROPERTY – Industrial property, confused with commercial property, is warehouses, factories, power plants, and land in industrial districts, industrial property also has special real estate agents who specialize in industrial property.

COMMERCIAL PROPERTY – Commercial property gets confused with industrial property because sometimes businesses start their business in a building that is considered industrial property (however, the city must approve of this). Commercial property is shopping malls and centers, offices, parking facilities such as parking garages and car pool stations, hotels, motels, and theaters. With commercial property comes zoning laws and certain restrictions, which is why anyone looking for commercial property should hire a professional commercial real estate agent who can answer any questions for commercial properties.

RESIDENTIAL PROPERTY – The most common throughout the real estate industry would be residential real estate. Residential real estate is exactly how it sounds, anything where a person can live; townhomes, single-family homes, multi-family homes (if less than five unites in the building), duplexes, etc. Apartments are not considered residential property because there are more than give unites in the building (any building with more than five unites is considered commercial property). As many people already know, residential property is for sale in rural, urban, or suburban areas.

As you can see, you must do your research before diving into a property of any sort. Many laws and restrictions come with buying a property, whether the property is residential property for sale, or agricultural property for sale.

Keep Your Home Value By Changing Your Pool Liner

A swimming pool adds great value to your home. If you’re looking to sell, a pool can be a major appeal to potential buyers— if it’s in top shape. If you’re looking to hire a seasoned professional to replace your pool liner, you should brush up on what you should know and ask, so you don’t get taken in by fraudsters. Take the recent case in New Jersey, where a a con artist swindled a homeowner out of nearly $600 after she gave it to him as a “deposit” for work that he never did. The man is still on the run, according to CBS Philly.

But it’s not just scams you should worry about when it comes to pool products and liners. Finding a seasoned professional with the tools and know-how to get the job done can be a frustrating experience in of itself. And when you finally find a trusted professional, it’s important to look out for the upsell and many other tactics used to bump up the price of a simple pool liner installation.

Why Hire a Professional?

Although you can install your own pool liner, it’s a time-consuming task that requires precision and careful measurement. The amount of prep work needed alone turns off many DIYers. Most pool liner products have to be custom-installed to fit a variety of indoor and outdoor pools.

Simply put, a seasoned, trusted pro will get the job done right the first time. Plus, you’ll have someone to turn to if anything goes wrong. Estimates usually include the cost of the pool liner itself and the cost of installation. While the pool liner ranges from around $400 to $1500, the labor costs can easily double that price.

What to Look Out For

Some unscrupulous companies will use temporary workers or subcontractors with little to no experience with pool liners. Be wary of paying contractors upfront, as some may suddenly abandon the project at the halfway point with no explanation. A recent news story from east Texas detailed how one homeowner was scammed out of $800 when a contractor failed to finish a pool liner installation.

swimming pool

Most pool liners come with a vinyl thickness of 20mil. Geddes Pools notes that some installers will try to upsell you with a thicker 27mil liner—however, the extra thickness doesn’t make much of a difference in the long run. The warranties are also usually the same for both.

Don’t worry about choosing a professional based solely on scheduling. It’s better to deal with scheduling issues than to deal with a professional that prefers speed to quality. Also, make sure the professional you’re dealing with has a brick-and-mortar business location. As mentioned at the beginning, our scam artist had nothing but a name and a reference to go by.

Last but not least, take a close look at the warranty that comes with your pool liner. According to Aqua Pools, a pro-rated warranty covers the total value of the pool liner for a short time, only to reduce that coverage as the product ages. Over time, you’ll end up bearing a greater portion of the repair bill. The lifespan of the average pool liner is 10-15 years, although it’s common to find warranties that last for 20 years.

Condominium Amenities for Higher Return on Investment

Investing in a condominium property is an excellent financial vehicle for increasing personal net worth if you choose the right location and consider the tenants. Today’s large-scale investors find lucrative opportunities in urban redevelopment projects, such as Chicago’s 1225 Old Town Highrise. Complex rental rates draw the second-highest net rental income per square foot in Chicago, and the property also holds the distinction of having the highest sales price per square foot in Chicago’s history, according to Curbed Market Watch. Property owners should consider the amenities and built-in benefits for renters in order to stay competitive in the investment arena of condominiums.

Condominium Amenities

Management companies are telling clients to adjust marketing strategies in response to emerging demands from today’s metropolitan tenants. While 24-hour gyms and temperature-controlled parking still attract qualified tenants, there’s a developing penchant for mixed-use buildings that combine high-rise living spaces with healthy, organic food stores, according to Forbes.

Inner-city neighborhoods are seeing dramatic surges in urban revitalization as retailers and developers team up to meet the growing demand for living spaces in metropolitan areas. A one-bedroom luxury apartment in Chicago’s Old Town development with all the “bells and whistles” and a long list of other amenities beyond the first floor market rents for $2,725 monthly, according to Luxury Living Chicago Realty.

Another city building with jaw-dropping amenities and luxuries to draw tenants is Manhattan’s 455 Central Park West. The duplex building features an on-location grocery, children’s playroom, extra storage, and a myriad of other modern conveniences. Bi-level designs boast four bedrooms and six baths and have a 1,110-square foot living/dining area with 37-foot cathedral ceilings, according to Manhattan Scout. Selling prices for two-bedroom units start at just under $3 million.

Trending on a Smaller Scale

Although these partnerships that merge living spaces and retail markets are in considerable demand, not every property owner can afford to build a multi-story housing unit above a full-service grocery store. Full-scale apartments aren’t necessary, according to a real estate professional in Chicago. The agent points out there are 12 complexes in downtown Chicago that have some type of food outlet built on the property, ranging from ice cream parlors to pizza places.

Amenities for Condominium Properties

Investing in the inner-city revitalization projects supports the economy and the environment. Investing in multi-tenant properties that meet consumer demands for more convenience offers investors a healthy return on investment. However, investors that opt to purchase smaller properties can also increase return on investment by concentrating on updating in-house amenities for tenants.

Incorporating outdoor spaces for hiking, biking, golfing, and picnicking increase resale value as much as 14 times over initial construction cost of these amenities, according to National Trails Training Partnership.

Tenants are looking for convenience, safety and access to transportation. The following list of amenities will draw tenants to every property, regardless of the size.

Car Elevators

In addition to amenities on the property, tenants value peripheral services such as discounts for dry cleaning, a paid-with-lease membership at a nearby gym or leasing options that include a Direct TV deal.

Consult a Real Estate Specialist

Consumers are looking to find new ways to invest 401K savings. Market analysts often recommend caution when investing in new trends, but the condominium market bears some further investigation.

Consider the facts: The population is growing. Available space for new building homes, apartments, and condos are becoming scarcer daily. Building up, rather than out, in metropolitan areas appears to be the only way to add more living spaces. Tenants want to live close to shopping and dining establishments, grocery stores and work — having it all under one roof satisfies all those desires.

What are your thoughts on condominium investments? Share them in the comments.

Image by OiMax pursuant to the terms of his Creative Commons license.

For Sale By Owner: Rent-to-Own Properties

If you have bad credit or are otherwise unable to obtain an actual home loan, there are many “For Sale By Owner” houses that could peak your interest. These FSBO properties usually entail payment directly to the owner until a predetermined amount is paid off. There are a variety of ways you can do this all of which should include a contract to purchase the lot. How do these FSBO properties differ from paying a mortgage to a bank?

property apartment
property apartment

1. Understanding – Historically, those who sell their homes themselves are more understanding to dire circumstances than banks are. If you are laid-off or are otherwise unable to work, the bank doesn’t really care. They may have payment plans and options to help you, but the bank is in the business of money. Private sellers may devise a plan to help you get back on your feet, and many of them will be more lenient about payment scheduling. However, this doesn’t mean you can live in the house for free. Eventually, the property owner will exercise his or her right to evict you if you don’t show some kind of effort.

2. Escape Plans – Private property owners are more inclined to develop an “escape plan” into the contract of the property. These plans usually consist of a clause that allows a person to be able to back out of buying the property should he or she not be able to pay for the home. Essentially, this just turns the experience into a rental and the owner looks for another buyer. In essence, it’s much like a rent-to-own situation where you are renting an item with the option to keep paying until the total amount is covered, at which point it becomes yours. However, if you continue to pay for a property and move out three months before it is completely paid off, then you no longer have rights to it and the owner can “sell” the home to someone else.

3. Insurance – In most situations, banks will demand an insurance policy be upon the property in the event of damage. Some private owners will have his or her own home owner’s insurance policy that covers the lot that you may or may not be responsible for in paying. This is entirely up to how the owner has the property set up. In any event, it is always best to have insurance on your property to help pay for repairs should the wind knock down a tree onto your home or a flood destroys the base of your walls. If the owner of the property does have an insurance plan, make sure you know what is covered in case of emergencies.

There are many aspects to buying a home that you need to be aware of whether you are using a bank loan or not. Always get as much detail about the responsibilities and the management of the property in a contract in order to reduce the risks. Most honest FSBO sellers will have detailed contracts regarding the property that both parties can be secure with. If you are ever in any doubt about the legality of a private contract to purchase property, it may be in your best interest to seek council to determine if the contract is in fact legal.

This article is contributed by Madoline Hatter. Madoline is a freelance writer and blog junkie from ChangeOfAddressForm.com. You can reach her at: m.hatter12 @ gmail. com.

Calculating ROI in Canadian Real Estate

Real estate is a lucrative investment, thanks to the promising opportunities that have cropped up in many places around the world. Though many real estate investors tend to focus on the growing economies of China, India and Brazil, there are some serious opportunities in developed countries like Canada as well. In fact, the Canadian economy is seeing higher levels of growth because of its oil deposits. Also, its stable infrastructure and strong currency are contributing to its growth.

Canada real estates
Canada real estates

Despite this booming economy, the big question is whether real estate scores over other forms of investment such as stocks and bonds. To get the answer, you simply have to calculate the Return on Investment (ROI) of real estate and compare it with stocks and bonds. Two types of returns are used to understand the potential of an investment and they are nominal and real returns. The big difference between the two types is inflation. While nominal return does not take into account the inflation that occurs over the period of investment, real returns do.

This difference is huge in financial planning. For example, a nominal rate of 20 percent may sound exciting at the first glimpse. However, if the country’s inflation is 16 percent, then the net ROI is only 4 percent.  In such a case, a real rate of 5 percent is a better choice. Understanding this difference is important to recuperate the highest ROI investing in Canadian acreages or any other real estate market. Ideally, the ROI from a real estate investment should cover your monthly expenses. It is a good idea to look for investments that give a ROI of 10 percent or more as this will give you a little additional savings as well. In fact, Warren Buffet recommends a nominal ROI of 15 percent or more that includes inflation and taxes.

Another criterion you should consider is the savings rates of banks. If the ROI is greater than the savings account rate, then you can confidently invest in real estate. Comparing with the ROI of stocks also helps to make the right financial choices. Besides ROI, there are other surrounding factors you should consider too such as tax advantages, leverage, volatility, health of the economy and government regulations. These aspects can impact your property in the long run, so it is important to get a comprehensive view.

The above-mentioned numbers are mere guidelines to help you make the right choices. This is because the purpose of investment varies greatly from individual to individual. The ROI depends to a large extent on the expenses, savings, amount of money available for investment and the location of the real estate property. Based on these factors, you can determine the ROI that would work best for you.

To recuperate the highest ROI investing in Canadian real estate, you should do a lot of research. Identify the locations that are likely to give the highest ROI by understanding the local economy, what drives it and what it is going to look like ten years from now. The emphasis should be more on the future because any real estate investment you make should be long-term. There is currently a lot of debate going on about Canadian real estate. In fact, the Canadian Association of Accredited Mortgage Professionals predicts a 30 percent drop until 2015. But, as an investor, this is your buying opportunity provided you do your homework. You can look for areas that have the highest potential to grow in the future including up-and-coming neighborhoods of major cities such as Toronto and Ottawa. You can also explore many rural areas rich in resources which can bring in huge profits in the future.

In short, when you want to invest in the Canadian real estate market, start with research. Look for potential areas that will fetch you the ROI you want and then make your choice.

Author Bio

This article was written on behalf of Dignam, Canada’s most trusted source for country acreages for sale and vacant land in Ontario and across the country.

6 Ways To Get Rid Of Your Home For A Great Price

You have finally decided to get rid of your home. Maybe you have enough money to trade up, or you could even be moving to an entirely new city to start your life again. It’s an exciting time and you’re going to be busy for the next few months, or possibly even longer if things don’t go to plan. You have to deal with the move, but before you can do any of that you need to see about selling your old home. In this market it definitely won’t sell itself.

home property
home property

When you want to get rid of your home you want two important things. The first thing is as much money as possible and even if you get the asking price I’m sure you’d be happy. The second thing you want to do is get rid of it fast, because there is nothing worse than having to put your life on hold until you can get rid of your old home. We’re going to look at a few techniques than can help you solve both of your problems.

Shoot a video

Nowadays you will find that lots of people get their information from many different forms of media. If your home is listed on a website it would be a very good idea to upload a video and you can take people on a guided tour. If you have a lovely home you will end up getting a lot more people who decide to put in an offer and you will sell it much quicker.

Pick the right realtor

Don’t make the mistake of choosing the wrong realtor because they will cause you nothing but problems. You want a company that has a proven track record of selling homes at close to their market value, or even higher if you should be so lucky. They should also have sold homes recently because everyone goes through slumps and you don’t want to catch them in one.

Cheap upgrades

You definitely don’t want to spend much money before you move out, but sometimes it can be to your advantage. If you make your home look better there is a chance you will get more money for it. You can just carry out some simple job like painting the doors and windows, shampooing the carpets, and putting up new wallpaper. None of those are too expensive, but they will make your home look great.

List your home early

We’ve already mentioned getting your home sold as quickly as possible and that means putting it on the market straight away. It’s even better if you put it on at the start of the year. This is because most people will want to get everything out of the way before the new school year begins. If it’s already started there is nothing you can do about it now, so all that is left is to list it.

Free home warranties

People always feels like they are about to be stung. You can’t really blame them because everyone is trying to make a quick buck these days. If you have an old home it might worry some people because the roof or water heater could pack in at any minute. You could offer a free home warranty on a number of items for the first few years after the sale and it would help calm their nerves.

Hide in the cupboard

When someone is walking around your home you want them to feel as comfortable as possible. You should really make yourself scarce and leave the realtor to do their job. If you’re walking around breathing down the viewer’s neck you will be affecting the way they think. You don’t need to hide in the cupboard, but just disappear for an hour and it will increase the chances of your home being sold.

Today’s guest post is contributed by Nick Sampras, a well known property lawyer in Brisbane. Many people approach him on a daily basis for advice on property matters and he obliges them by giving quality advice. He also shares his knowledge on these issues via his blog.

Basics of Real Estate

All over the world, real estate industry is growing at an impressively rapid pace. Accommodation is the basic need of people and having a nest that they can call of their own is a dream for them. Due to population explosion, apartments and flats are high on demand. This demand will go up with the passage of time, thereby implying that the real estate property will cost you dearer in coming days. All these point out that venturing out in real estate market is a lucrative proposition.

real estate investment
real estate investment

People invest in real estate market to fulfill either of two purposes. They purchase a real estate either to live in or to make money out of its sale. In this article, we will restrict out discussion to the real estate investment that is made only to make profit and not just to move to a new location.

Know the Fundamentals of Investment

Before you buy, always make it sure that your present sacrifice in terms of investment will ensure a handsome payout in future. Location is an important consideration for property purchase. If your real estate is located in a developed area that is well connected to highways has some good facilities like medical service, university, colleges etc, you will get a good price for it in times of sale.

A property with positive cash flow is a worthy investment. By positive cash flow, we mean what remains after deduction of property related expenses. These expenses include mortgage payment, operating cost, taxes and other necessary expenditures related to real estate business. The amount of positive liquid cash flow depends on three important factors such as operating cost of the property, mortgage payment size and amount of rent.

It is crucial for any real estate investor to analyze the above-said factors before taking any investment decision. The best way to ensure positive cash flow is to make a small down payment but avail a long tenure mortgage with low interest. If you get an option of low mortgage payment, do not let the chance slip away as it will result into good cash flow.

A simple example will help in clarification of the above-said point. Let us suppose, you have bought a 4-storey apartment at $125,000 and rented it out for $600 per month. Then you will receive $2,400 every month from your rented apartment. So with $300 for operating expenses and less than $625 for mortgage payment, you will end up gaining $1,475 as positive cash flow. However, if the mortgage payment goes up to $925 per month, positive cash flow will plunge to $1,175 every month. This simple calculation explains why you should try to get low payment and keep the operating cost at minimum margin to enjoy higher cash flow.

An alternative way to get positive flow of cash is to avail an interest-only loan. It is a short-term loan that extends for 5-10 years. After the lapse of loan term, you have to either refinance or sell the property. The flipside is such loans often come with an obligation of high periodic payment. However, by ensuing positive flow from real property, you can utilize the cash for more prospective investment opportunities.

Guest Article by James, who is a finance advisor and author. To know more about him visit   Basic finance Care.

 

 

4 Things To Know Before Investing In Real Estate

Real estate investment is one of the many complex decisions in life that one has to make. It involves a lot of intricate details which have to be taken care of. It is important that a lot of thought and consideration is given to the subject in order to increase the chances of making a good decision. Below are some things that you should know before investing in real estate.

invest in real estate
invest in real estate

Know your Needs

Before starting to look for a real estate property, you need to first know your needs. You should take into consideration your family size before deciding how big a house you want. Also, determine if you would like a house built on flat land or on sloped terrain. You also have to take into account the location of the house. This may include the distance of the house from your workplace and the presence of other amenities in your area like a school, a hospital, a superstore, a park, etc. All these are important facilities which, if near your home, will be very beneficial for you and your family.

You can determine your needs by asking yourself different questions and making a checklist to ensure that the majority of your needs are being met.

Determine Your Budget Limit

You have to set a specific budget before you start looking for real estate properties. It is no use wasting time in surveying properties that lie out of your budget. Do prior research and make a list of areas which you prefer to live in. Then on the basis of your budget, you can narrow this list down. Check with mortgage experts and see if you can afford the mortgage payments of the property you are willing to buy. If the expenses fit well in your budget, you can go ahead with your purchase decision.

Know the Right Value

To know the right and fair value of your property, carry out an independent valuation to know if the asking price is fair and close to the market value. Visit the property yourself and check for details such as the plumbing system. If you come across any damages that need repair, you can negotiate with the current owner of the property. Either you can ask them to bring down the price a little or complete the repairs and then transfer the ownership of the house to you.

Finalize the Deal

When signing the agreement and transferring the deed, you need to be knowledgeable enough to understand all the minor details mentioned on the document. It is better to hire a lawyer to help you with the procedure as he/she, being an expert, will be able to guide you better. The lawyer will explain to you all the clauses mentioned on the document and will also offer sound advice while you are finalizing your deal.

These are some of the things that you need to know before you take the major decision of investing in a real estate property.

Mark is a real estate consultant working in Cyprus for Globalserver Properties, an agency that can help you find the best price for a villa in Cyprus