Most are buying condominium for investment decision. Countries like Singapore, Hk and Penang in Malaysia are building more and more condo. In Penang, super-condo is actually gaining popularity now with the size of 1 unit as big as 6000 sq ft! Returns on investment for any condominium are much better in comparison with landed property such as patio or semi-detached property.
Think about a condominium to buy, choosing the location is important. A good area will give you tenants all year round having a stable income. In a nutshell, residence at area with big companies (employer), public transportation access and in a safe community is usually safe bets. The condominium that is located in holiday area are able to provide you with each rental income and a trip getaway when you need one.
Purchasing a condominium will earn you the two monthly cash flow as well as funds appreciation. This is when having a condominium at the right location can fetch a good price for the condo that will be able to include your monthly installments and still provide you with some pocket money. Any condominium project by a trustworthy developer at a good place will appreciate to at least totally of its selling price.
To make sure a positive cash flow is critical for your investment, hence, it is essential that you have good tenants leasing your property. To increase your chance of getting good tenant, employ a Real Estate Negotiator (REN) in order to screen your potential renters. REN also have their systems of trusted source of professional tenants; such as expatriates. Trust me, the additional fees you pay to some REN is well worth it as compared with the heartache and sleepless evening you have trying to evict the nonpaying tenant.
The service an uptown at farrer offers also can make it attractive to your long term renter. If a condo comes with a pool, badminton court, tennis courtroom and a nice park is going to be plus points to you. Usually, condominiums are designed to have at least three rooms and 2 bath rooms. Anything more is a bonus. Naturally , do fit up your condo properties; air-conditioners are a must these days with a simple built in kitchen area for cooking. Not forgetting to be able to furnish the master bedroom using a bedroom set. Furnishing your own condominium will increase the demand as well as attractiveness of your unit. Purchasing condominiums will also enable you to get tax benefits. You may balance the interest on your loan whenever declaring your annual income taxation statements.