Investment Real Estate

What Are The Advantages Of Owning A New Condo?

Owning a home is the perfect way to invest in real estate without having to worry about yard maintenance or significant repairs. Mid-sized new launch condominiums are perfect for buyers who want to downsize from a larger home, but don’t want to spend a lot of time on maintenance. The smaller space offers more flexibility for residents who want to spend their time traveling, enjoying their city, or working on home improvements. Renting an apartment instead of owning a home frees up a lot of time that would otherwise be spent on home or yard maintenance. Grounds maintenance, home repair, and complete home maintenance. 

Having a pet-friendly space, WiFi, and a media room makes apartment living convenient for everyone. With a pet-friendly space, WiFi, and a media room, apartment living is naturally comfortable for all. Apartment living also offers a living space that is less cluttered. In addition to the benefits of location and worry-free maintenance, apartments can enhance your lifestyle in ways that are impossible for homeowners, assuming they have the significant expense of additional travel. When you rent an apartment, you can travel without knowing if maintenance will continue while you’re away, move out, or find a buyer for your apartment while you search for a new place. 

There are many reasons why apartment and condo residents choose to live here, but the main reason is convenience. The location of new condos, stores, and shopping centers is convenient for condo residents. In most areas of Columbus, this offers residents the ability to walk to restaurants, shops, events, and more. Forget gym memberships, many modern apartment communities have gyms with state-of-the-art equipment. Jogging, walking and biking trails are also great additions for the growing number of health-conscious residents. You can also take advantage of city movie theaters, swimming pools, playgrounds, walking trails, dog parks, mini-coffees and more, all included in your apartment rent. 

Buying a home is a big commitment, but it has more downsides in terms of cost than renting an apartment. The right apartment community can offer freedom, manageable costs, and the opportunity to live in a place that is ideal for your lifestyle. While renting apartments isn’t always the right choice, it’s always a good idea to tour an apartment community before buying. 

It is really very important to understand the difference between living in a condo and a single-family home before buying a condo to determine if the condo lifestyle is right for you. While many people prefer to live in a house rather than an apartment, others reap the benefits of living in an apartment. In today’s real estate industry, there are a variety of housing options, and an apartment is one of the main housing options that more than a number of people choose. Choosing a rental property is not always easy due to a variety of factors, but more people than ever are choosing it. 

Homes and apartment complexes are being built with special amenities like pools, gyms, convenience stores, and laundromats on site or at least in close proximity. If you have these amenities built into your home, the financial commitment isn’t as worth it. While homeowners invest in some form of security systems, apartment complexes invest in the overall safety of their residents. The close proximity of neighbors, as opposed to being the only one in the house at all times in a typical apartment complex, is a safety measure that proves apartment buildings are safe places for single women, children, families, and the elderly. 

Most apartment complexes have common areas such as kitchens, patios, and rooftops so residents know each other well. In addition, condos often host fun events for residents, such as movie nights, game nights, wine tastings, cookouts and more. One of the biggest advantages of condos is that they are often found in central, where residents have easy access to nearby entertainment and business districts. 

Many newbie first-time buyers prefer the convenience and affordability that comes with owning a home. Condo owners sometimes do not have to worry about expensive structural repairs or building maintenance. Some condos also offer amenities such as gyms, swimming pools, and assigned parking. Buying a property can be a daunting goal in many urban areas, especially in desirable neighborhoods, including high prices. There are significant costs and sums associated with buying and selling a home, whether it is a condo or a home. In fact, low costs are one of the main reasons people choose to live in a home in the first place. With special amenities like shops, gyms, pools, gardens, laundry and 24-hour home security, a condo costs twice as much as a house. Communities that mitigate these high prices by offering affordable rental housing allow more people to enjoy attractive urban areas without having to spend a large portion of their income on buying and maintaining a home. 

Location firstly is a crucial aspect of a building or home, as it affects the price and average cost of housing in general. Apartment dwellers don’t have to pay $300 a month in HOA dues like condos or $7,000 if the roof of the house needs to be replaced. The apartments are packed in houses and condos because they are in a convenient location. In addition to downtown, the apartments are close to major shopping centers, popular recreational facilities and major highway access. Renters have more location options than homeowners. Both the condo owner and the condo renter are responsible for exterior repairs and maintenance. But they have no responsibility for the interior. Most Singapore apartments do not require a security deposit and can be approved as a loan. 

Finance Investment Real Estate

Success story of Singaporeans who invested in real estate

Offering what the property owner wants is one of the main mistakes an investor can make. Never forget that all sellers want to make as much money as possible. In real estate investing, it’s your job to pull their prices down so you can profit more from the investment. You have seen many other people who have been successful with real estate investing. A quick search on the internet reveals tons of inspirational stories about real estate investing. However, only a few of them actually offer you lessons on how to profit from real estate investing.

In this article, we want to buck that trend.

We’ll share the story of a couple investors who put in the work and uncovered some great opportunities. We’ll also share some lessons you can take away from their success.

Janet and Nick wanted an investment that would earn them a Six-Figure Return.

They had spent a while looking for properties in Singapore. They had gone through the property listings and nothing had piqued their interest. So they contacted some good real estate agents and managed to get some good viewings. It’s a good thing they did, because in the end, a great property presented itself to them.

The property was an estate with a list price of $1,580,000. There were three beneficiaries, two of whom were still living in the house.

This presented an opportunity for the couple. Estate prices are usually negotiable when the money received is divided several ways. Janet and Nick took advantage of this fact to make an offer for less than the sale price.

However, they went about it a little differently than most.

The property would have been auctioned in May 2016, just before June Holidays. Most investors would rather wait for the auction, hoping to get a bargain. But Janet and Nick knew they had a chance and bid $1,525,000 before the auction.

Importantly, that offer was subject to building and pest appraisals.

These reports showed that the property was severely damaged. As a result, the couple lowered their bid to $1,510,000 to account for the necessary structural work.

This story has probably given you some insight into how to become a successful real estate investor. You can see that Janet and Nick did everything they could to secure their purchase for less than market value.

They also made their offer contingent on several inspections. This allowed them to lower the purchase price even further.

Both are great lessons for anyone looking to successfully invest in real estate.

But there’s more to the story that we haven’t shared with you yet. Here are three real estate investing tips you can learn from Janet and Nick

Tip #1 – Find a good real estate agent.

By sharing the couple’s story, Nick revealed how important their realtors have been:

“There are some really mediocre realtors out there. But we’ve found two different realtors who are top notch and go out of their way for us. They know what we want.”

There are two things you need to know when it comes to real estate agents.

First, you want the best ones you can find in your corner. These are the people who will understand what you want and can help you get it at the right price.

Second, you want the mediocre agents to be in the seller’s corner. This gives you the ability to control the negotiations. And it also means you’re dealing with a seller’s agent who is more concerned about making the sale than doing what’s best for their client.

Tip #2 – Build a Strong Network of contacts.

What we didn’t tell you in the story above is that Janet and Nick didn’t buy their property on their own. In fact, they were not in a position to buy anything on their own.

Instead, they worked with money partners to make their investment happen. And as Janet explains:

“I wasn’t able to find one who had all the money. But I was able to find six who had some of the money, and that was great.”

It just goes to show how important it is to have a strong network around you as a real estate investor.

When you need a money partner, it’s your network that usually reveals the right person for the job. And if you have a great network, you can secure multiple partners when you need them.

Simply put, your network gives you more options. Not to mention the opportunities that people in your network can give you.

Tip #3 – What doesn’t work for some may work for you.

We’ve already mentioned how Janet and Nick bypassed an auction – something many investors wouldn’t do. However, it’s also worth noting the time period in which they bought.