In the past few years, global market has experienced some great financial instability and these recessions are the worst nightmares of all the real estate investors. Most of the real estate investors have experienced great losses during the recession period. The best way to be safe is to go for a recession proof property so that you can always reap great rewards for your investment. IN most of the cases, your choices decide the profit you will be having during selling or reselling the property. We are going to discuss some major factors which will help you in finding the best property for you.
Location of Property
Location of the property matters a lot in deciding its overall value. Keep in mind that you can replace houses but not lands. Any property that is valuable for market is always in the limelight and it will never lose its market value. While selecting a location, keep in mind that location means far more than views and water frontage. A good location is defined by numerous factors including schools, culture, safety, public services, infrastructure and neighborhood. It is important to keep all these factors in mind while choosing a recession proof home.
Principle of Progression
According to the principle of progression, better homes tend to increase the value of the not so great houses. So it is better to avoid buying the best house in the neighborhood and moreover what’s the use if you are going to get an equivalent price for both of them.
Prefer Single Family Houses
It is quite common that the condominiums lose their value much quicker than single family houses in down market. The major contributing factors in this observation are the fact that builders tend to build densely in a hot market. And most of the buyers prefer single family houses as compared to condominiums.
Choose House with Broad Appeal
The home supporting a broader appeal is the one that is valued most. The homes that are always in demand include three bedrooms, two bathrooms and two garage houses. So keep this in mind in case you plan to remodel the house. You can pop up the price of your home with better bathrooms as well as kitchens. Rooms with the latest layouts and well mannered shelves are always valued by the buyers. Moreover these houses tend to price more than the one with outdated layouts and design.
The real estate market depends on local standings of the market and it is very important to educate yourself about the trends of the market. This knowledge is really helpful when it comes to buying or selling a new property. Moreover, you should seek advice from Your Personal Financial Mentor because he can provide you information about the latest trends in the real estate market and will help you take a reasonable investment decisions based on the market fluctuation.
Categories: Real Estate