How to choose an apartment for investment
Today, the real estate market is at its peak. As before, investing in real estate is one of the most profitable and reliable ways to make your money work. What kind of apartment to choose for these purposes? In this article we will try to answer this question.
Secondary or new building
A frequently asked question. If the purpose of purchasing an apartment is its subsequent rental, then you can consider options on the secondary market. If you expect to sell it in the future or still doubt exactly how you will use it, it is better to pay attention to apartments in houses under construction. Yes, now the difference in cost at the start of sales and during the delivery of the object is not as significant as a few years ago, but you can still make good money on it. In addition, this difference is fully compensated by dynamically growing real estate prices in general. An apartment in a new building can be rented out, while receiving a large profit, but in the more distant future, because you will be able to start repairs only after putting the object into operation. Do not forget about the renovation of an apartment purchased on the secondary market. To get a really decent profit, you will have to invest no less money and time than in repairing a new apartment, and sometimes even more.
Location of the building
Location is the main criterion that you should pay attention to first. The popularity of the housing located in the area will largely depend on how well the infrastructure of the area is developed. Having studied the prices of apartments in buildings of the same class and the cost of rent for similar apartments, you can deduce the amount of future profit. Consider how a particular area of the city is developing, what objects and directions are being built and developed. All this will affect the cost of square meters in a few years.
Quadrature and number of floors
There is a way to select the area depending on the area. If this is a central busy place, then apartments of a small area up to 50 m2 will be a good option. They are suitable for young energetic people, especially if it concerns renting. Apartments with a square from 50 m2 to 100 m2 are better to buy in quieter areas. They are a target for couples with children. Housing of a larger area for the purpose of investment should be purchased with caution. It will be somewhat more difficult to rent or resell such an apartment. As for the floors, they are traditionally average. Usually in a building, the price per square meter increases with increasing number of floors and is divided into several groups. Try to get the highest possible floor in such a price group, but take into account the layout and the view from the window. An apartment on the seventh floor with a view of the river or park is much more profitable than an apartment on the eighth, but with a view of the industrial zone.
Study the developer
Before buying space from a developer, you should make sure of its reliability. Study his reputation, how long he has been on the real estate market, what projects he has implemented, whether there are problematic objects. Options will be extremely useful when the developer offers the possibility of assignment and installments.
If you have any additional questions about investing in residential complexes under construction, our specialists will always be happy to answer them. Contacts can be found on our website and on social media pages.