Real estate is the biggest in thing right now in the country. Huge amounts of agricultural land are being converted to residential and commercial spaces. Townships are being introduced to rural areas and thousands of hectares of land are bought just to provide the new and upcoming generations quality and affordable living spaces. May it be vertical, or horizontal, people flock to where the newest and most “hip” addresses are.
But what is real estate investing? Other people say that is is when you buy a piece of land or real property for your immediate or future use. Whether it be for one reason or the other, investing in a real property is the hype nowadays.
So how do we invest in real properties? Simple. Look for properties in the business section of the morning paper. You can choose from a lot of different price ranges, locatons, type and market values. First and foremost, before buying real property, one must take steps to know the condition of the sale and the real estate. As we all know, a lot of miscreants have been selling and offering properties for sale without the proper and legal papers to back it up. Let us be vigilant to avoid complications we do not want.
Consider the price range: Most buyers are very particular about the pricing of the real property they want to buy or invest in. Sometimes, there would be haggling and misunderstanding and more haggling. This usually happens in a private selling where the seller offers his property for a price and the prospective buyer or client is convinced that the value of the property for sale is below the asking price. But in a project selling scenario, haggling seldom happens since the prices of the properties for sale are finite and packaged. Chances for clients to get a lower pricing for the property is when developers of the said projects offer discounts or freebies. These, however, change from time to time depending on the target or goals of the company.
Location: This is the most important characteristic of a real property. Your property might be near schools and other institutions making it easy for the buyer to access his needs and where he needs to go.
Property type: One must also consider the type of property one is buying. Whether it is for residential, commercial, agricultural, or industrial, buyers should be vigilant in buying property for their purpose. If one wants a residential type of property, one should check with the necessary departments before one makes a final decision. Sometimes, you have to be careful because you might be a victim of other shady personas selling properties with different classifications than that indicated in the HLURB (Housing and Land Use Regulatory Board).
Know the Market Value: Knowing the category and the market value of a property helps us understand its true value, purpose and use. Sometimes the market value is lower than that of the price indicated in the listing of a property and sometimes, not. But investing in the right property with a higher market value, allows you to sell it at a higher value than its current allowing for profit and gain.
I hope this is brief and concise enough to understand even the simplest of terms. Just these four key property characteristics allow you to determine if a property for sale is worthy or a dud. Just be sure to be vigilant and always double check or triple check.