There are several investment instruments where you can put your money. From stock investments to franchising small businesses to putting up your own business, you have an array of options to invest your money. However, each investment instrument has its own risks and associated factors that you need to consider. But there is one more form of investment where with proper and careful strategy; you can make a lot of money – real estate investment. Real estate investment is one of the most profitable and successful industries when it comes to investing. So if you are interested, here’s how to invest in real estate to make your money grow and build wealth.
Evaluate Your Finances
Before you engage in any form of real estate investment, make sure that your financial house is in order. This means that you need to carefully build and establish your own payoff consumer debt, emergency fund and automated retirement savings. As mentioned, real estate investments have some risk associated on it. That said, it is recommended to be prepared and ready at all times.
Invest in Real Estate Investment Trust
REITs or real estate investment trusts are pool of fund or money intended to fund the development, purchase and management of real estate properties. Real estate investment trust is usually designed to focus on a particular real estate type like hospitals, hotels, malls, or apartment complexes.
Study the housing market
One of the effective ways to start your plan on purchasing your win investment property is to know the local housing market. You can ask for recommendations from locals, real estate agents, leasing agents and other people who can help you analyze the reasons of moving so you can analyze the price history. Midwood Hong Leong Group has an exemplary service in determining the overall market of an industry in real estate.
The development of high-rise condominiums and apartments are very fast especially in Singapore and it is definitely a good way to invest. If you are a foreigner or an expat looking to invest on Singapore real estate you’ve probably heard of their Residential Property Act which allows foreigners or expats to purchase apartment or condominiums without the need of approval from Singapore Land Authority.
There is also an option to acquire a bigger property like vacant lands, house and lot, and other residential property upon the approval of Singapore Land Authority. Real estate purchasing is a really good income opportunity. You can do several things with your acquired property and some of it is listed below.
- Property Rental
The most common target customers for this kind of business are the Singaporean residents who don’t afford to buy their own house. It is also possible for Singaporean workers or students who need a place to stay closer to their school or work. This can become a great monthly income opportunity especially if you are looking to earn immediately.
- Transient House
It is somehow the same with property rental although; the transient house is for short-term lease only. The target customers for this are the foreigners or tourists who will be staying for short term business purpose or for purely tourist purposes. This is the best way to earn fast and see the product of your investment. You can easily attract customers by promoting it to your friends or the friends of your friends who want to visit Singapore.
- Office Space Lease
Freelance and outsourcing are most common these days and along with that the working space is not just found on common business areas where other firms are located most business owners also prefer getting a small flat that can fit their few employees this way it is more efficient for their business.
You can visit Piermont grand pricing to see what fits your budget!
Are you aspiring to buy a condo? Well, condos are plush residential units and these have always drawn investors, courtesy their cutting-edge ambience. There are some excellent perks of buying a condo. But there are certain limitations as well. The post below offers a brief on both the advantages & disadvantages of buying a condo so that you can take an informed decision.
Perks of buying condo
A condo assures stress-free maintenance. From mowing the lawn to maintaining the swimming pool, everything is taken care of by Condo Community Association. You will simply have to pay a monthly fee and everything will be taken care of seamlessly.
Lower price and carries grants
You will be delighted to know the purchase price of a condo is always lesser than single-family homes. Moreover, some new condos come with CPF grants for buyers. One great example here is the Piermont Grand EC in Singapore. Besides, as a condo owner you won’t have to worry about dwelling insurance. Moreover, condo landlords are not even liable for the contents of tenants residing in their condos.
A beautiful aspect of a condo is that it hosts and is surrounded by lavish amenities. From swimming pools to clubhouses to exercise rooms- you have everything here. Moreover, most condos guarantee 24/7 security.
Limitations of buying condo
While condos assure less maintenance hassles, these properties often command hefty Condo Community Association fees. If one condo unit owner is unable to pay his part of the fee any time, the fees will rise and others will have to bear the cost.
Difficult for short-term sell
If you are planning to sell your real estate investment in a short while, condos won’t be the right choice for you. Unlike homes, these properties are difficult to sell in a short term.
Condos make great investments. But you should consider the pros & cons first before rushing to buy a condo.
They said that purchasing condo units are just for those people who have no plans having their own family but actually that’s the kind of mentality that everyone needs to change, several number of condo units are owned by families because they have learned the advantages from living in such shelter. Home buyers are more concern of their convenience and the environment especially when they have kids to raise that’s why most of them prefer to invest on condo units but do take note that weighing the pros and cons is still necessary before purchasing. Here’s the question, is condo living suits you? Let me share the list of the benefits from buying a condo unit.
Parents are really overprotective when it comes to their little rascals, so before they decide to live next door they always make sure if the environment is safe. Living in a condo unit guarantees 24/7 surveillance cameras and guard patrols, visitors can’t just easily get in they have to pass through the security and provide identification before you’re able to go the unit no.Moreover, the buildings also provide emergency measures in case of climatic disasters.
Lower Price Down Payment
The sales agent of a certain condo agency company will allow the home buyers to choose the percentage of their down payment. Home buyers can pay the down payment at a lower price or the lower than the average price of the unit depending on the location and the condo unit types. To assure the exact payment and calculation for the units, always do your costing first and never hesitate to ask questions to the sales agent to avoid confusions.
Home buyers are also particular with the places around it, the distance they have to drive to do grocery shopping or driving their kids to school. Most of the condo units offer community amenities such as pool area, fitness gym, clubhouse, riviere by frasers or even recreational activities.