The 10 Real Estate Tips for Successful Investing in 2017
With the market in full process of normalization and stable prices, 2017 has all the ingredients to mark a milestone in the real estate market after years of hardship. Investment in real estate has ceased to be the exclusive preserve of large national and international funds and has become attractive to the small and medium-sized investors, who have regained their purchasing power thanks to the opening of credit by banks.
Of course, it is not gold everything that it seems and that is why the General Council of Schools of Real Estate Agents has drawn up a decalogue of recommendations to carry out a real estate investment with success in the year that has just begun, already whether to buy a home, a place or a house to rent.
Alfredo Cano Boluda, member of the General Council of Real Estate Agents’ Colleges and advisor of the Valencia API Council, explains that it is very important to get away from the rush and make a very well-thought-out investment. “We are talking about operations that move very important economic amounts, so we must carefully study all the factors before buying,” he says.
In addition, it does not hesitate to ask the prospective buyer “not to be emotional, but rational” and encourages to analyze “every aspect that may affect future profitability, such as price, comparative with other neighborhoods or if the type of property is adequate for the rent claimant that exists in the area.” If you want to get more idea about investment, here you can go investment mentorship.
Here are the 10 real estate agents’ tips for successfully investing in real estate in 2017:
1. — Firstly, investment in residential housing is usually more profitable than the investment in commercial premises or offices in smaller cities, although this second option is more attractive in large population centers.
2. — Choose a good area with revaluation prospects, as it is the fundamental factor to make a successful investment. The location of the house is the key factor since the ideal is to be in a dynamic area, modern and equipped with all services (green areas, shops, public transport, educational centers …).
3. — It is essential to study carefully the expectations of rent or sale in the area, depending on whether the investment is a long or short term, respectively.
4. — In the case of betting on an old house, it is necessary that the purchase price is sufficiently low and the reform affordable, so that it is possible to obtain the desired profitability.
5. — It is advisable to invest in an area within the same nucleus of population in which you reside. In this way, minor issues can be managed personally. In the case of major problems, it is necessary to leave them in the hands of the expert, ie the real estate agent.
6. — The areas near university centers and the neighborhoods of expansion of the cities have a high guarantee of success when acquiring a house for rent.
7. — It is very important to take into account aspects such as the number of bedrooms, the availability of elevator and garage, the age of the apartment, its general condition, the orientation or sunlight it receives and whether the area is quiet or noisy. A house in good condition, perfectly equipped and with good lighting has many more possibilities to be rented or sold.
8. — The buyer is facing one of the best moments of recent history to obtain a mortgage loan under advantageous conditions due to low-interest rates and the mortgage war unleashed. It is necessary to consult as many banks as possible and negotiate to get the best credit offered by the market.
9. — It is necessary to avoid investing in communities or urbanizations where the community expenses are very high, are distributed among a few neighbors, or have luxury services, as it represents a significant reduction of profitability.
10. — To ensure the success of the investment, especially among investors who are not experts in the sector, it is advisable to have the advice of a Real Estate Agent. This professional is an expert in the area in which he wants to invest, he will help avoid unnecessary risks and will allow completing all the real estate operation without mishaps and in the desired term.