If you have it in your plans to start investing in real estate, now’s the time to start preparing. Keep in mind that there are different phases to the buy and sell process and we all have to start somewhere. So whether you’re thinking about a “fix & flip” or getting into a construction project, here are few things you should keep at the top of your list as you scope out the market.
Real Estate Investing
Remember, as the buyer, you want to be able to minimize money spent and maximize money earned. That’s really what investing is all about in the end!
While doing your research for possible properties keep these top 3 things in mind:
- The Location
Since the location of a property is a key aspect of the appraisal and value, it must always be considered. Is it in a nice neighborhood with good school systems and plenty of places to shop and eat around? How does it compare to other homes and properties in the same geographical location? These factors can weigh heavily on what price you buy and sell for.
- How Much Space
Another very important thing to look at when considering a property is how much space it has on the inside and outside the house. This is measured by square footage and even includes how big the individual rooms are or how large is the lawn is and the overall property itself. Investments should be made in a property that is in a desirable location but also that has appropriate space buyers are looking for.
While we’re talking about what buyers want, it’s important to also consider amenities that are desirable. How many rooms are there going to be? Is there a finished basement? Are there garages to park cars and if so, how many? How many bathrooms are there and are they full or half bathrooms? Get to know what future buyers are looking for and purchase or add those features to your investment.
Get Professional Investment Help
Of course, there are many other aspects that go into evaluating a property and it may seem overwhelming. But we believe these are some of the core factors where you should begin in your process when starting to invest.
Here at Sachem Lending, we help you every step of the way. Call us now and put your plans into motion!