Joanna James
Real estate is one of the best investment options as it is a revenue generating investment which can lead to high capital gains as the value increases overtime most often than not. However, when investing in real estate it is important to be mindful and does enough research as it involves a large amount of capital investments initially.
Thorough research prior to investment will help you in the long term when investing in real estate. If you are investing in the land this is even more crucial. Make sure that you have done enough research to understand the intrinsic value of the land and looked at all future angles such as development in the area, plans by the municipal councils and so on. By conducting research, you can ensure that you have minimized your risk of the devaluation of the land you have purchased. One other important factor associated with real estate investment is getting all the documentation in place and this should be thorough.
When investing in real estate it is advisable to have enough cash to be able to pay the mortgage if you are financing it through one. One of the most common investments in real estate is renting out the house or apartment and using the rent income to pay the mortgage. However, it is strongly recommended that you purchase a property for which you can afford the mortgage payment even without the rent income. There are a number of high-quality apartments in Colombo Sri Lanka that are highly attractive and have strong investment potential. Real estate in Sri Lanka is one of the best investment options as the rate of appreciation is exponentially high making it a good long-term investment option.
There are a number of properties up for sale in Colombo offered by many reputed real estate dealers such as John Keells Properties. Apartments have become one of the most attractive forms of accommodation for tenants as it is cheaper and mostly located in convenient parts of the city. When investing in real estate one of the most important things is to not go over budget and start small. One great option for investors with a limited budget is to opt for a house with an attached apartment that can be rented out to someone while you accommodate it. This way the rent will an additional source of income that will allow you to pay off the mortgage.
Location plays a major role in making your investment a good one specially when it comes to land. Most often than not lands in Colombo have appreciating values. However, when investing in real estate it is important to take into consideration factors such as neighbourhood, access to transportation, how peaceful the area is and so on which will be the foundations when looking to attract tenants for your property or even in the resale of it. Moreover, it is no surprise that locations that are prone to flooding or affected easily affected by other natural disasters should be avoided at all costs when investing in real estate.
A true believer that the pen is a mighty weapon, ventures into reaching the minds of every reader with the earnest hope of leaving an indelible stream of thought.
A travel writer who has a passion for fashion and a deep interest in admiring new and exotic attractions around the world.
