Buying a real estate property is one of the most significant financial decisions you would ever make in your life. However, it is important to state that you need to consider some factors before you successfully go through this journey. They include:
𝟏. 𝐏𝐔𝐑𝐏𝐎𝐒𝐄: This is the reason you want to buy the property, i.e what you want to do with it. Is it for residential or commercial or agricultural purpose, etc. Your answer to this would determine the property you’ll go for.
𝟐. 𝐁𝐔𝐃𝐆𝐄𝐓: Make sure that you’re working with an attainable budget. You know your income, how much would you be able to pull out to pay for the property within a certain time frame without feeling pressured?
𝟑. 𝐓𝐇𝐄 𝐏𝐑𝐎𝐏𝐄𝐑𝐓𝐘 𝐂𝐎𝐒𝐓 & 𝐎𝐓𝐇𝐄𝐑 𝐈𝐍𝐂𝐈𝐃𝐄𝐍𝐓𝐀𝐋 𝐅𝐄𝐄𝐒: You need to confirm not only the actual cost of the property, but also if there’s any other fees to be paid, what the payment plan is, to determine if it’s okay by you before you make even an initial deposit. There properties where the owner will have some hidden cost attached. Before making payment ask if there are hidden cost attached, this is to save yourself from exploitation from greedy landlords.
𝟒. 𝐖𝐇𝐄𝐍 𝐓𝐎 𝐔𝐒𝐄 𝐓𝐇𝐄 𝐏𝐑𝐎𝐏𝐄𝐑𝐓𝐘: Do you want to live in or rent the property immediately after purchase? Do you want to leave it for some years before developing it or to resell much later? Your answer here would determine the property to buy or not. It is always advisable to buy a land and wait ie buy land in a remote area and give it time it will develop and appreciate.
𝟓. 𝐋𝐎𝐂𝐀𝐓𝐈𝐎𝐍: Property location is paramount, it most times determines the price of property, the property appreciation, the rental value or the investors Return on Investment (ROI). Making a right choice of location is key in real estate investment. You can contact us to make such choice for you.
𝟔. 𝐓𝐈𝐓𝐋𝐄:You don’t want to buy a property that has a questionable title, or under government acquisition or is encumbered in any form. That’s the easiest way of losing your hard-earned money. Always confirm the property title, do not take anybody’s word for it, go the extra mile to conduct all necessary due diligence with regards to the available documentations before you make any financial commitment. In case you don’t know how to go about this, you can contact us. This one of the things we do for our clients.
𝟕. 𝐔𝐒𝐄 𝐀 𝐒𝐄𝐀𝐒𝐎𝐍𝐄𝐃 𝐑𝐄𝐀𝐋𝐓𝐎𝐑: A
real estate professional knows the right steps to take, the right questions to ask you even if you omit or forget to consider any important point, get the right property based on what you need and help you to seamlessly go through the journey.
We are here to serve you. Just reach us on 𝟎𝟗𝟎𝟓𝟒𝟒𝟒𝟎𝟏𝟓𝟔. We will answer all your real estate questions.
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