When a property is invested in and purchased with the intention of earning a return on that investment, through any means, therefore reselling it or renting it in the future, that is known as property investment. There are three types of property investment, residential, commercial and mixed use. Residential homes are a popular way to supplement your income. You can rent out property and receive payments on a monthly basis. Commercial property is mainly income generating and it doesn’t have to be residential, and lastly the mixed use property where you use the property for multiple purposes.
Now that we know about the types of investment the question arises that what are the things we need to keep in mind before making an investment. Investments make a huge part of our living and it’s important that our money is placed in the right hands, or in this case lands. The first thing you need to do is define your objective meaning you need to know what you’re investing in. if you want a larger profit then real estate is your go to! But if you want to keep your money safe you can go for smaller options like fixed deposit.
But all of this depends upon you knowing your financial situation. Make sure you are making an investment with your spare money so they can help you in times of uncertainty. It is extremely important to evaluate the risk of investing which is identifying if a certain property or investment is the one for you? And is taking a risk with your saving worth it in your situation. All of these coincide with taking an expert’s advice, as they are the ones who are familiar with the loop holes of investment and can help you make a good bargain.
Now investing in property has many perks. The first and far most being that you are the sole owner of your investment. Once you make the payment the property transferred to your name. once you have it to your name you have the right to rent it, or use it in any way possible, therefore it can become a means of revenue generation for you. The best part about property investment in terms of revenue generation is that, with time the price of your plot, or building keeps increasing which can over time be greatly profitable for you with respect to the fiscal dilemmas generated over time.
Published in Star Blogs, August 23rd 2020