Choosing a real estate property certainly requires tact and a thorough understanding. This is one kind of an asset that has an appreciating value. Hence the ROI or the resale value in this case will depend on the type of choice that you make. So, in this article we will discuss on those factors that play an important role in determining how good a real estate property is. So here’s presenting the essential factors that must be considered carefully before paying and signing on the dotted lines.
Location of the place – Location plays a pivotal role in deciding the cost of the real estate property. A well furnished plush property located at an unfavorable location might generate a lesser resale value than a not so plush property which is situated at a great location. Hence, make sure that the property that you choose is located at a favorable place and has a good connectivity to other parts of the city. Usually when you resale a property, buyers check how easy it is to get to that place, the distance of schools, multiplexes, hospitals, airports and bus terminals from that place and other details. So make sure that when you choose a property it suffices all these factors.
Room for improvement – Always check whether the property has free spaces as it will allow you to work on it in the future. Moreover properties with free land on its surroundings would definitely offer a great resale value in the future and will also look quite great. Studies have shown that properties with substantial amount of free spaces will generate 30-40% more value than a property that does not have any such spaces.
Is there a Garden inside – This is somewhat similar to the point mentioned above. Real estate properties that have a garden get a better value than those that doesn’t. Besides that, a garden will certainly help in boosting the aesthetic value of your house and add a wow effect to it.
Materials used – The materials used for constructing the house should also be checked. This is one tricky point to check. Therefore, what you can do is hire a professional who has a thorough understanding of these stuffs. A building material advisor can be hired for this purpose. They will examine the materials that have been used to make the building and help you to decide what exactly should be a good or rational price to buy it for.
Legal obligations – The legal obligations should also be checked. You should also make sure that the building that you are looking forward to buy is not constructed illegally as that might lead you to legal hassles in the future. For this too you can resort to the help of a specialized professional who will help in ascertaining any such issues.
Keeping these factors in mind will definitely help you to find the best property that yield a good selling price in future.
The author Dan Young is an avid blogger of repute. He is associated with writing as a freelancer on various topics for numerous online Moving sites. He shares his knowledge about International movers in london. You can find his other writings about International Moving and Shipping on Google+ and twitter.