There are many ways you can invest your money, Tips for choosing one of them being in the real estate sector. Yes, buying a rental apartment is a great opportunity to earn a new source of income. Here at Edifica , we’ve gathered the best tips for investing in a property .
Is buying an apartment a good investment?
Apartments can be a good option for rental property buyers because they tend to be more affordable than single-family homes and are often centrally located.
Additionally, lithuania phone number library apartment buildings often have fewer maintenance demands because owners are not responsible for maintaining common areas or the building’s exterior.
Below are some tips to keep in mind when looking for an investment property.
1. Choose the right location
Location is one of the most important variables in real estate investing . Rest assured, the consequences of choosing the wrong area can be serious enough to ruin your entire investment relatively quickly.
Therefore, attracting and retaining students in the digital environment it’s essential that you choose a location that has all the essential amenities. This is because apartments located in these locations tend to be highly attractive to tenants and are also more likely to experience high capital growth.
Here are some of the amenities that should be present in the area you plan to invest in:
- Public transport
- Schools and Universities
- Health centers
- Recreational facilities
2. Type of financing
Is it better to buy with cash or finance your investment property? That depends on your investment goals. Paying with cash can help generate positive monthly cash flow. On the other hand, bgb directory opting for financing can provide a higher return.
3. Make a long-term plan
Investing in property is a sure path to long-term wealth, however, it should be considered a medium- to long-term investment, so you’ll want to make sure you can maintain your mortgage payments over an extended period of time.
You should be very careful with this aspect, as you don’t want to have to sell your property because you can’t continue to cover its financing!
Once you own an investment property, it can be quite economical to maintain and repay the loan because you earn money from the rent and get a tax deduction on many of the expenses associated with owning the property.
Also, remember that rents tend to increase over time, as does your own income, so be confident that your investment will be sustainable over time.
You might be interested in: 5 easy ways to invest in real estate
4. Work with a property manager
A property manager is typically a licensed real estate agent who is a professional in their field, and their job is to keep things running smoothly for you and your tenants.
They can help you with ongoing advice, manage your rental, and get the best possible value for your property. A good agent will let you know when you should and shouldn’t review your rent.
This agent should also be able to advise you on property law, your rights and responsibilities as a landlord, and those of a tenant. They will also handle any maintenance issues, although you should approve all costs incurred (apart from certain emergency repairs) in advance.
Plus, they’ll help you find the right tenant, conduct reference checks, and ensure they pay their rent on time.
5. Learn about the real estate market
Consider what other properties are available in the immediate area and talk to people who live there, as well as to various real estate agents. They can inform you about property values in the area.
6. Review many options
After establishing your selection criteria, it’s recommended that you look at at least 8 or 10 apartments before choosing an option. Many novice real estate investors make the mistake of rushing into this process!
The right approach is to check out as many listings as possible to get a complete picture of what the real estate market has to offer. Furthermore, broadening your search scope increases the likelihood of finding the perfect apartment for your needs.
Below are some of the options you can choose from:
Apartments in Lima
Grimaldo – Apartments in Miraflores
We all want a home close to the city’s main institutions and services. Grimaldo offers just what you’re looking for.
The project is located at 247 Grimaldo del Solar Street , very close to Benavides Avenue and Paseo de la República. It also offers apartments from 59 m2 with one, two, and even three bedrooms.
High – Apartments in San Isidro
Living in the city’s financial district is quite attractive, especially with the Alta project. Located at 207 Dean Valdivia Street and the corner of Rivera Navarrete Street, it is just steps from Javier Prado Avenue and surrounded by green spaces.
The building has apartments from 45 m2 to 60 m2 with 1 and 2 bedrooms.
The Park – Apartments in Lince
If location is the most important factor for you in an apartment, this project offers just what you’re looking for.
Located at 2821 Rivera Navarrete Avenue , Lince , The Park offers an exclusive yet urban lifestyle. Here you’ll find apartments ranging from 45 m2 to 75 m2 with one, two, and even three bedrooms, as well as fully equipped common areas.
Bohemian
Edifica presents Bohem, a unique and environmentally responsible project. An apartment building in Miraflores , a short distance from the district’s most important commercial, gastronomic, cultural, and entertainment venues.
And you know the best part? At Edifica Inmobiliaria, we are committed to developing environmentally friendly projects. That’s why our Bohem project will be LEED (Leadership in Energy & Environmental Design) certified. This certification supports Bohem’s eco-efficient design, which is based on achieving up to 30% reduction in energy consumption and up to 40% reduction in water consumption.
In addition, at Bohem you can enjoy various common areas that will fill your life with comfort and joy, including: a lobby, pool and deck, a bar, a BBQ area, a gym, and a bike zone. Therefore, if you’re looking to reduce your carbon footprint and live more consciously, you can choose to purchase an apartment in one of the two projects we’ve presented.
Remember that Edifica Real Estate has 15 years of experience developing projects in the most established districts of Lima and other cities.