Category Archives: Real Estate & Property

Real Estate & Property

Mistakes when Buying an Apartment in a New Building

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Most buyers are very responsible in selecting and buying property in the primary market. After all, often a good apartment in a new building costs a round sum, which no one wants to lose in vain. However, a sensitive approach to checking documents and finding a reliable developer does not save from some mistakes. In today’s article, consider the most common mistakes of buyers.

Error 1. Buying a home at random

Customers often do not calculate the liquidity of housing, do not take into account the infrastructure nearby, do not see the picture as a whole, but only its parts. Because of their lack of experience and analytical abilities, they choose options that do not grow in value over time. The same situation also applies to the selection of developers.

Aggressive advertising creates a halo of reliability around developers, so buyers do not check documents, do not read the contract, believe in the word of the sales department, etc. If we talk about Canninghill Piers, Singapore’s top three developers are joining hands for recreation of river promenade. All three developers worked on projects that are designed to surpass the industry standards. 

Error 2. Choosing an apartment that you cannot afford

Another unpleasant situation is the purchase of residential squares, which the owners cannot provide. For example, to buy a 2-3-room apartment in a new building, families take loans at high interest rates, borrow too much from friends and acquaintances and do not calculate their own financial opportunities. Instead of a good one-bedroom option in the centre or sleeping area, they choose a spacious apartment with 80-100 squares away from the main infrastructure. And forget about the cost of maintenance of large apartment.

Error 3. Don’t pay attention to the layout

Customers prefer more options, but completely forget about the layouts. For example, a good apartment for 100 squares can have a corridor of 8-12 meters, 1 bathroom, a few unnecessary balconies or loggias, a small kitchen. There are also objects with columns in living rooms, which also steal space. Similarly, buyers underestimate compact layouts of 40-50 squares. Even such a small apartment can be successfully divided into several rooms with simple structures (wood or aluminium) or build a wall of foam concrete.

Situated in Clarke Quay, Canninghill Piers location is in middle of the Singapore’s most famed riverfront entertainment. The integrated development comprises of 700 residential condos, hotel, serviced residence with hotel licence, commercial component and basement parking.

Error 4. Stuck in your comfort zone

When it comes to investment, the situation must be soberly assessed. The apartment for surrender or resale should be bought not in the favourite and inhabited area, but where the construction of new infrastructure is planned.

Proximity to the subway, the presence of shops nearby, a good road transport interchange also plays into the hands of the investor. Even if Canninghill Piers location is on the outskirts, but there is everything you need – it’s a good option for investment.

Error 5. Choosing a densely populated area

At first glance, it may seem that housing in a developed area is the best choice. But in fact, there are a lot of pitfalls. For example, constant queues in shops, hustlers on playgrounds and elevators, lack of places in schools and kindergartens, traffic congestion. Before buying an apartment in a very built-up area should think several times and determine important criteria for yourself in advance.

Real Estate & Property

Factors to Consider When Deciding to Invest in a Condominium

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Image source: https://pasirrisnewcondo.com/

While considering the various types of properties available for investment, you may wonder if condos will make a good investment in 2021. Visit Pasir Ris 8 and get an idea about the services offered by Kerry and Allgreen properties.

While there’s no way to ensure your condo investment is good, here are some of the factors you should consider in determining whether investing in Pasir Ris condominium is right for you.

Condo Association Restrictions

Buying a condo comes with its own set of restrictions that you may not be used to encountering with other types of properties. Be sure to carefully review condo association restrictions to make sure they don’t interfere with your investment strategy. While a condo located in a luxury area or a popular vacation destination can be a great short-term rental opportunity, you may not be able to rent the unit freely. This is partly due to the fact that ownership of your condo involves shared space with other condo owners in the community.

Cost

In general, condos are less expensive to buy than single-family homes, which means a condo can be a safer investment in terms of the amount of financial risk. Also, the lower cost means you won’t have to juggle such a large financial burden as long as your property feels empty looking for a tenant. This also means that you are less likely to get into a financial situation if your condo remains empty for a period of time at a later date.

Obtaining a mortgage

While condos are generally less expensive to buy than single-family homes, sometimes it can be more difficult to get a home loan for this type of property. Therefore, if you are investing in Pasir Ris condominium, you will need to be prepared to jump some additional obstacles before the loan is approved.

Interest rates

The Federal Reserve is raising interest rates for the real estate market. In 2021, but these increases won’t be as dramatic as they were in 2020. Therefore, you should be sure to take into account the increase in the cost of interest when budgeting your purchase, regardless of the type of property you are buying.

Resale value

While condos generally appreciate their value, they tend to appreciate themselves at a much slower pace compared to single-family rental properties. So, if you’re considering the investment it’s something, you’ll invest in a few years to make a profit, you’re not likely to see the profits you expected to make. On the other hand, if you’re looking for a long-term rental option, the slower appreciation rate may not be an important factor for you.

Tax exemptions

Tax benefits are among the benefits you enjoy as a real estate investor, but you’ll be surprised to learn that not everything is tax deductible with a condominium. While you can deduct the cost of repairs and other expenses paid for condo maintenance, things such as condo fees are not deductible.

Real Estate & Property

Plausible Growth of Boutique Real Estate Agencies

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It could be human nature or tendency to opt for bigger companies with brand value. There might be various reasons behind such belief and thought. Reliability is what dominates every other aspect, and people tend to rely quickly on bigger companies. These large firms indeed offer services and beneficial outcomes. However, the scenario is shifting slowly and steadily towards small firms with focused ideas and determination to serve few but every client equivalently. Likewise, in the matter of real estate, the boutique brokerage agencies are rising to public preferences. The credit of all its popularity goes to the working styles, ambitions and dedication uniting every employee in these little agencies. Hence, there are many advantages of hiring or consulting a boutique real estate agency.

  • The client’s requirement and opinion is their primary concern:

The boutique agencies seldom care about the commission attained via selling or buying properties. Their concern as stated is significantly about performing proficiently for every client and live up to their expectations. The whole unit of boutique assists the agents and facilitates their requirements. This further benefits the client as the whole firm works in unity to serve and satisfy them. Hence, there is no doubt in the customer service of the boutique brokerage agencies. An ideal example of such dedicated boutique agency is the Welfont Group. For past ten years, this firm has served and gratified many clients, which includes mostly investors and nonprofit organizations. Besides being by the clients’ side throughout the buying or investing process, this agency also assists the buyer in the application of tax strategies.

  • Their assistance saves time and energy:

Besides their long list of contacts and acquaintances increases the velocity of the process. The Welfont Group, alike many boutique agencies works in coordination with local listing brokers, property managers, appraisers, contractors and selling agents. The acquisition of this company’s clients include warehouses, manufacturing plants, hotels, apartments, offices, bank buildings, industrial plants also overcoming environmental aspects effectively. No matter whichever be the preferred property the size of the process is equivalent to the size of the property. A vague yet necessary implication towards the time and energy consumption it demands. For non-experts like first time buyers, or experienced investors it is worth having a reliable agency by the shoulders.

Every licensed agent whether working independently, or a part of an agency, offers some specific assistance. These are comparative market analysis and total market overview, which determine the appropriate value of the property, real estate appraisal if the agent is also a licensed appraiser; marketing strategies and exposure, facility of buying, investing or selling properties, preparation and completion of paper works also other legal criterions; property management and other such services. Since all the major and exhausting tasks are under agents’ conduct. All that the investor is supposed to do is state his/ her needs, select the place and make payments. It is a hassle-free job once the expert steps in.

Real Estate & Property

Professional Tips To Invest In Real Estate Business

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Investing in a real estate business is not an easy task as one has to properly study the whole market before putting their hard earned money in this lucrative business. It is usually seen that the people are attracted towards this business because of the higher return on investments. But usually, it is seen that if the right advice is not followed then it can cause loss to the person and they can get under heavy debts too. In this event, Chase Rubin says that one must take tips on investment from the professional real estate agent who can help you to find the best offer and crack a great deal.

Fundamentals for investing in real estate business

It is mostly preferred to keep oneself abreast with the latest knowledge which one should possess before investing their hard earned money in the real estate business. The things like financial complexity, diligence and legal aspects which are required in the real estate business investments are included in it. For this, Chase Rubin states that one should get them familiarize with the basic fundamentals before purchasing their first property which is mandatory in present time. Here are some of the basic points which one should follow before opting for investing in the real estate property business:-

  • Investments in wholesale properties: – One should not rush into the purchasing of the property if it is offered at a higher price instead of this one can purchase the property offered at discounted rate. The wholesale properties will pay you in the long run even if they have some pending work left on them as you can double their price and sell them in the near future.

  • Location of the property: – Another important aspect before making any purchases is to look out for the location of the property. This serves the basic purpose for the investors because if the property is located in the best location then ultimately its prices will go high even if the property you are investing in needs redevelopment one should go ahead with that. As this will help you to fetch greater return on investments after a time period.

  • Check on the credit report: – One should also keep a check on their credit report before investing in some property. It is seen that the lender will not provide you with a loan on the property which is not your own home so it is highly recommended to fix one’s credit report in advance.

  • Return on investments: – If you have invested in a real estate property then one should make sure that you also get something in return if you are renting it out to more than one person. At least, you should make up your mind somewhere to get around 1% of the monetary value which you are spending for a month.

Lastly, it is stated by Chase Rubin that the people investing in real estate business should make sure to know about each and every aspect of the real estate business before investing their hard earned income in the real estate properties.

Real Estate & Property

A Brief Know-How to Commercial Real Estate Tips

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The real estate market attracts many investors as being as lucrative investment option. Through commercial real estate properties offer investors higher returns for their investments, buying a commercial real estate property is a very complex venture. The success or failure of such a venture depends upon how well you analyze the market conditions before making the investment.

Peter Medlyn– real estate specialist in Knoxville, Tennessee says that it is important for you to research well for commercial real estate properties. Essentially, all real estate purchases and sale are high-risk investments and you need a proper plan before venturing into this lucrative market. Moreover, the initial capital required for commercial real estate properties is higher when compared to residential properties. Therefore, it is important to consider the following factors before making an investment in this lucrative market.

  1. Location

The location of a property plays a critical role in determining the value of such property. For both the seller and the buyer, the site of the property is very important. Any property located on a prime real estate area usually fetches a higher price as compared properties in remote areas. Therefore, always buy a commercial property that is easy to sell because amenities in the area will attract potential clients.

  1. Costs

While it is important to consider the initial capital cost of the real estate venture, you need to consider the amount you need to spend before or after sealing the real estate transaction. These costs include levy, electricity and water charges, repair and improvement costs, municipal taxes along with maintenance costs. These costs give a potential investor an overview of the total cost of purchasing the property and its projected returns.

  1. Documentation

Many potential investors fall victim to purchasing commercial properties that are not genuine. With rapid advances in technology, it is easy for unscrupulous sellers and fraudsters to obtain fake documents are identical in all respects to the original ones. Therefore, you need to make sure that you are dealing with real owner and the documents of the property with are genuine.

  1. Market

On many occasions, investors buy a real estate property with the view of selling it to a potential client quickly. However, these end up staying with this real estate property forever. Therefore, it is imperative for all investors to study the past, present and future trends in the market for a commercial real estate property in an area before making the investment. Therefore, it is important to do some research and analysis before opting to invest in the property.

  1. Find out why the owner is selling the property

There are number of reasons that influence an individual or business enterprise’s decision to sell a real estate commercial property. When searching for an ideal property to invest in determine-

  • The reasons why the owner intends to sell the property – this will give an investor the upper hand in any price negotiations.
  • Find out if any major repairs need to be undertaken.
  • Investigate the surrounding areas to see how other real estates and businesses are doing.

Investing in commercial real estate properties says Peter Medlyn is a complicated venture and it is not as easy as many investors might think. However, by taking into account the above factors, you can protect yourself from incurring losses on your investment.