Real estate investments, though a lucrative option, pose a lot of questions. The major one is “location” after all; how do you decide the perfect, idyllic, and unanimously archetypal real estate property without having to rendezvous with developers around the city? Indeed, that sounds hectic, and we know all about it! So, here we are with some tips and tricks that will make your long-term investment decision easy.
Why Is Location Important?
Most buyers decide to buy a property based on how much they like the real estate, but they forget that there is a plot of land that comes along as well. The house that is being looked at can be renovated or remodeled, but the area cannot. This factor becomes more prominent as one moves towards suburban homes where the limits of a property are clearly demarcated. However, even if you make an investment in the city, the block you choose can be a “good” or “bad investment depending on the neighborhood, and investors need to consider this factor.
How To Choose The Perfect Location?
Certain factors will help you make the right pick for your future real estate investment. These include;
The Buying Trends
Before making an investment, check out the buying trends in that area as, through these, you can maximize profit. Questions related to the popularity of the locality, if other people are investing in that area, and if the property prices are going higher or lower can help you make the right decision.
Wherever you’d decide to invest or live, whether it’s a three-bedroom villa or townhouse, the location will undoubtedly impact the price you pay for the home. Land is a finite commodity, and thereby, cities like San Francisco do not have room for more growth as compared to other cities which have too much room to expand.
The majority of the communities in the area have uninhabited homes and areas that fall into disrepair. This urban sprawl often occurs due to extensive population growth. This fundamental aspect of property value has an impact on the location you choose.
The Home You Purchase
Looks can be deceiving; the same is the case with real estate that you choose to invest in. Suppose you have the option of buying one of two houses in the same neighborhood. One may need repairs and updates while the other is in tip-top shape but covers a lesser area than the other; choose the former. The reason is that the house which needs repairing is a depreciating asset. If you maintain it, the land that comes with it will have an additional value.
Safety And Crime Rates
There is no denying that in these times, safety is one of the most crucial aspects of investing. Before you dive into the market, inspect the crime rate in the area and ask the neighbors if any robbery or theft has recently taken place. Does the neighborhood have cameras and security checkpoints? The security of an area/locality plays a crucial role in the real estate business.
Invest in an area that has easy access to job opportunities and offices. People often tend to move to an area closer to their office. This is the primary reason why property prices are often higher in cities located in the center than in the suburbs.
Middle East – The Hub Of Real Estate
Before diving into the real estate market in a specific region, let’s talk about different real estate properties and prospects that you can find in the hub of real estate business, the Middle East.
Dubai is a paradise for people who want to invest in real estate. The tax-free rental yields and the mature and transparent real estate market of Dubai make it an easy market for buyers. Moreover, Dubai is the first Emirati to ever allow foreign nationals and expatriates to buy property in Dubai. Before this change, buying properties in the UAE was not allowed for foreign nationals. However, after this revolutionary decision, Dubai is not well equipped to open the doors for a load of foreign investment.
An industrial emirate set along the northern border of Dubai, Sharjah is another economic and trading hub of UAE. Interestingly, the costs of industrial interest in Sharjah are 35pc lower than in other emirates. Moreover, buying a property there has been a cheaper endeavor as compared to capital deployment in the more flashy Dubai and Abu Dhabi.
Since the year 2014, expatriates from any country with UAE residency visas have been permitted to buy properties within Sharjah under leases of up to 100 years! A three-bedroom villa in Sharjah is often compared as cheaper and more affordable than Dubai. Similarly, you can buy sustainable villas for sale near Sharjah at cheaper or equivalent pricing to that of Dubai.
The upside is that Sharjah has been focused on renewable energy sources. With the real estate market becoming more sustainable in nature, there is a high chance that the market will grow.
The high-end growth and rapid developments of the past few years have allowed Amman, Jordan’s capital, to be a market for largely stable real estate. The higher-end development of the market is attracting customers to the rapidly developing market.
Keeping every nook and hook in mind, go on and find the next location for your real estate investment. Remember, the world is wide, and the option for sustainable housing is beneficial not just for you but for the economy and well-being of others. Be the pioneer of a better future, and the generations will pay reverence to you. Safe Investing!