What are the Ways to Purchase a Rental Property?

When it comes to investing in a property, there are various ways so that you may purchase one which you can use for rental services. However, the big question that has to be answered in this endeavor is this – are you buying the property as a form of investment?

The question may sound off for some people, but the reality is – there are many individuals out there who always purchase a possession not because they look at it as an investment, but only because they love it. Is that even an example of sound judgment?

What does this mean? The answer will only come from you. If you are buying a property because of merely liking it, maybe it is about time that you re-evaluate your purpose in life. As a matter of fact, you must do some calculation in here. When you are to invest in a property, it is crucial that you utilize this kind of technology so that you may not go wrong. What else should you remember?

Investing in a Property

The truth is that there are many individuals out there who opt to invest in a property because they believe that it is a way for them to grow their cash. To say otherwise is hypocrisy. The most important reason is to pursue a property which comes with a rising value. If many will look at what they can lose, they are unlikely to take a risk. Hence, it will be impossible to grow.

There are instances when the property you have purchased increases its value. It may even be at a greater rate as that of the expected. As a matter of fact, there are instances when the cash income may be obtained from the investment. While this is not the case all the time, it must still serve as a motivation to not be afraid of investing. This can be an illuminating experience for sure. As a tip, it is suggested that we audit our property from time to time. If it can be done per year, then so be it. This is an opportunity to re-assess whether a certain possession is to be sold or held.

Nobody might be considering themselves selling, yes. But it must be thought upon if possible. Who knows? You may be able to make money out of this. A rental income obtained annually can always be a good idea. Who would not want that?

As to whether you it is the best to sell your property or not would still depend on your preference. This is why there is no right or wrong answer to this. There are different needs and skills in here. It would only be about the circumstance you are in. Even the situation of your family may be looked upon in this venture. The same is also true with the personalities and goals of your partner. If your goal is to make cash out of your venture and then be a focus on that!

Things to Remember Before You Buy a Land in Singapore

It is known as a fact that Singapore properties are the hottest in the world. They are even perceived as the most coveted. It was in the year 2005 when foreigners were granted the right to purchase a property in the said country. Meaning, they can already secure an apart most especially in buildings. This is termed as new strata-titled properties. It is called like that because there is no longer a need to ask the approval of Singaporean authorities. This is not necessary anymore.

With regard to the mentioned, the only thing that foreigners must do is to secure a Singapore Land Authority. This covers the approval of the land titled properties which may feature bungalows, houses and plots. Since this is the case, it is no longer surprising that there has been an increase in the number of foreigners settling for a property in Singapore. This lead to the climbing of the real estate prices in which demand also followed and grew.

Factors to Consider

Once you are decided to buy a property in Singapore, and you are a foreigner, there are factors that you have to take down note of. These are the following:

  • When you buy a property in Singapore, you must do your best so that you can maximize your property. As a start, you may select property listings in Singapore which is usually located near the New Circle MRT. The reason for this can be attributed to the fact that this goes with a higher resale value. There is also a reasonable return on investment.
  • Most of the time, the value of the properties in the said areas increase. And yes, they do before you know it – overnight. This is not even exaggerated. That is how prosperous their economy is. If you want to make your life a bit easier, talk to a sales agent so that you may be guided accordingly.
  • When you work with an agent, he or she will advise you about your venture. The person is well-versed with it comes to the right rental yield. There are places you must avoid and the agent knows this for sure. The units may also have to be taken down note of. If there are two bedrooms for example, then it may be a good idea to have a larger-sized apartment for the simple reason that it will surely benefit you in the long run. You just have to believe that it would.
  • To invest in properties found in Singapore, especially in prime districts including District 9, 10 and 11 can be a good idea. These are suitable places for you to gain even more profits. There are also lots of potentials that you may enjoy for sure. This is one of the things that you have to be aware of. There are also residential areas that you can take a look upon.

There are so many obvious reasons why many opt to settle in Singapore. If you are one of those people who fell in love with the country, and then check it out!

Guide to buying a landed property in Singapore

Purchasing a landed property in Singapore is not an easy task. This is more when compared to buying a newly developed condo unit, which is most cases is presented in a tip-top condition. The physical condition of landed property depends on the previous owner. If you are lucky, you might come across one in a decent state hence no heavy renovation cost.

The ability to small details of the house comes handy in identifying issues that need to be resolved before you make a purchase. If this is your first landed house, it means you are more subjected to deception by nice-looking properties. To avoid these pitfalls, we present to you some of the factors that should guide your price for the property.

Foundation

The thumb rule when purchasing landed property –steer from any property with a weak foundation. Resolving a foundation issue is time and resource consuming. To spot faults with foundation, check for crack s, unaligned brick walls, doors and window frames.

Moisture

Landed property in a basement is likely to have moisture issues. Moisture is a health risk as it makes the environment good for mold growth. The cost to resolve such issues is high as you, might need to strip the entire house just to get rid of the health hazard.

Roofing

Never underestimate the cost of a good roof. A well-done roof can last for up to 20 years. When purchasing a landed property in Singapore, you need to check for sign of aging, e.g., color and state of roofing material. One way to fix the problem is placing a new layer over the old one. If not, you can replace with a brand new one which cost more.

Plumbing

Plumbing is one of the most expensive house finishes. To avoid unplanned cost, you need to examine the condition of toilets, pipes, water heaters, etc. Older homes have more problems with plumbing. Tracing where the problem is cost money, then comes the huge bill or replacing the items and sometimes the entire system. If you find a home has a sewer problem, ask the seller to fix it before you make a purchase.

Electrical wiring

Checking electrical system is fast and easy. You could use an indicator to check if all the switches and electrical units are working normally. Any electrical issue needs to be fixed by a professional, a service that isn’t cheap. The wires themselves are costly so take time and do checkups saving you a lot of money.

Fixtures and appliances

Home appliances and fixture are subject to wear and tear with time. These are usually the windows, doors, kitchen appliance, walls, air-conditioning, etc. Do your research and choose the most economical solution as per your budget. For instance, you can repaint the wall of your house rather than replace it.

It takes time to develop an eye to identifying problems in landed property. If you feel that you lack the knowledge, don’t hesitate to ask for professional help. Any problem you identify can be used as a bargaining chip to lower the cost of the house which you can later choose to repair.

Handy Tips for Better Real Estate Management

Handling rental homes can be a tiresome procedure often landing you into legal concerns. As a property supervisor or owner, you ought to think about avoiding issues even before they strike have a simpler time keeping order. Apart from making your renters feel deserving, you need to also find methods of making the management procedure simple for you specifically when dealing with big residential or commercial properties or numerous residential or commercial properties. When you are arranged in how you manage your house, it becomes simpler to keep whatever in check and a couple of ideas can help you put in the very best procedures into the management procedure.

 

Suggestion 1 – Get an expert property supervisor

If you are a homeowner with little understanding of the best ways to set about management, you must think about getting an expert property supervisor to relieve the procedure for you. Expert supervisors with some understanding and experience in the real estate market will know precisely the best ways to set about the procedure and find organizational options to relieve whatever out. When there is a supervisor in place, you will feel more at peace and have fewer concerns to handle.

 

Suggestion 2 – Embrace technology

There are very reliable property management services readily available thanks to technological improvements. Realty management software application is amongst the very best services you can find to make the procedure simple and arranged. Such an option can enhance interactions and payments and information upkeep for the property. With the ideal system you will have a simple time gathering, returning and holding down payment, along with examining and recording rental conditions before move-outs. There is so much you can do with real estate management software application to improve procedures so try to find the very best service.

 

Suggestion 3 – Handle occupants properly

Firstly you must think about evaluating occupants before enabling them into your home. It is a basic way of keeping problematic characters off your home. It is also essential that you put occupant property owner arrangement in composing to keep things clear and guarantee that you deal with all renters similarly and with no discrimination. Discriminating potential occupants based upon sex, race, origin, special needs and even familial status can land you into problem. It is also essential to appreciate their personal privacy even if the property is yours by informing them prior to entering their rentals. Managing renters properly will save you from a great deal of problem specifically lawfully.

 

Suggestion 4 – Keep the property in leading shape

Routine assessments are essential so you can make any enhancements and modifications where need be. Recklessness on your part resulting in security and security concerns can result in substantial losses in regards to settlements. You ought to for that reason make a point of making timely repair work and think about having a security system in place to offer your occupants the complacency they should have along with make sure that their security is not jeopardized in any way.

 

Suggestion 5 – Oversee supervisors

They must be proficient enough to keep your home in check. It is for that reason essential that as a property manager you pick and monitor property supervisors. Background checks and plainly defining their tasks will avoid problems cropping out later on.

Property management is not as easy as figuring it out after watching a Youtube video. Be sure you recognize that before anything else.

Infographic by: visual.ly