There is a plethora of information for budding investors. They tell you all that you should take care before investing in a property although what they do not tell you are the common mistakes done by the newbie investors. In this aspect, this article is unique and highly useful to keep you from doing the same stupidities and waste your hard earned money in a property that is not profitable. The real estate dealers have vested expenses. The first thing I would like to suggest is, for example, you want to buy a house in Rawang; keep abreast of Rawang development. IN other words, be updated and do research before doing an investment.
In addition to this use the tips below that I have learned after having extensive experience inreal estate:
- Heart over Head: The real estate brokers are canny and crafty people. They know how to play with your emotions they are experts in selling sand as pricey dust. You should keep your head above the heart. Never fall for emotionally appealing properties. For example, the person who is trying to sell you property will say the majority of the people living around are from your community. You should talk to the people residing in that locality in order to check the ground reality.
- Fail to plan? You have planned to fail:If you have no planning that means you have planned to fail. Do have some parameters and make sure the property that you are going to invest in fulfills those parameters.
- Being over the top:Being over the top means either the new investors become too impulsive in buying a property or they become highly meek and cautiously that they end up not buying any property. Investment in real estate is equal to gambling. So, keep good amount f money spare so that you can survive. As mentioned in the first paragraph the example was given as Keep abreast of Rawang development. Means be updated about the developments happening in the locality you are interested in investing.
- Speculation over patience:Some choose to be speculative rather than being patient
- Not doing research and homework:Not doing research and homework means you are bound to be fooled. The broker will sense that as soon as you talk, and will sell a property that gives him the highest profit.
- Buying wrong property: The case of buying wrong property happens as a collective result of the factors
- Poor resources flow/ money:You do not have a regular, sustainable flow of money and you have planned to buy a house. Of course, this scenario will become a pain in the butt.
- Tenant’s perspective:Think of the scenario when you due to any reason you have to move out of the house you have invested in. You will have to give the house on rent. Think of the property according to the perspective of the tenant.