By buying a house, you can get 2 benefits at once, namely rental income and capital gains. However, to get these 2 benefits optimally, there are several things to consider when deciding which house to buy. If you are interested in this business, Shapoorji Hadapsar Annexe can be your choice.
1. Consider Financial Conditions
Considering the financial condition before buying a house is very important when deciding to buy a house. The main purpose of buying a house that you make is to make your finances healthier by the flow of income from the house for rent.
2. Determine the Location and Type of House
A location that is not good and not strategic will find it difficult to attract tenants and also the price development can be very slower than the average property price. Besides that, you also have to consider the facilities around the location, transportation facilities, public facilities, and strategic locations. If you are targeting tourists as house tenants, you should choose a property location that is close to various tourist attractions around you.
3. Prepare Capital
Where can you prepare a down payment to buy a house? Do not save money on your savings to prepare a home purchase down payment, as the time it takes to collect it can be very long and time-consuming. The best solution to choose from is to invest in investment instruments that offer competitive returns.
4. Consider Other Methods of Financing
Instead of borrowing money from the bank to buy a property, you should consider borrowing money from friends or family. Financing options like this, of course, have advantages and disadvantages that must be considered carefully.
5. Determine the Rental Price
Before determining the rental price, you must take it very carefully. Don’t let the rental fee that you set to fail to cover the costs that need to be paid for the needs of the house. Also, you can apply some rules for tenants, so that they will take care of the property you have.
6. Prepare Home Insurance
There are 3 ways to manage existing risks, namely avoiding risks, transferring risks to others, or minimizing these risks. Insurance is one of the best ways to transfer risk to third parties when a problem occurs with the property you have.
Some of the risks that can occur are fire, natural disasters such as landslides and earthquakes, and others. With insurance, of course, this can make it more comfortable and calm when owning property. Because you have a claim when a disaster occurs or an unwanted problem with the property.
Those are the 6 steps you must take before buying a house for investment.