Buy, renew and rent, is one of the most profitable options if you want to invest in the real estate market. People are always looking for properties to rent, and after the pandemic, many housing options are available at a good price and with strategic locations.
When making this type of investment, numerous factors must be taken into account, such as the type of property, its location and its actual condition. Here we tell you everything you need to know to buy, renew and rent successfully.
Benefits of buy, renew and rent
Strategic Location
Location is one of the most important aspects to take into account, because if a property is centrical, close to shops, health and educational services, it is more likely to be rented.
Economical price
This properties are usually cheaper compared to others on the market, investing in this type of housing usually attracts a return on investment in a short time, since they are not used as a main home.
Renovations
The investment must be valued, carrying out studies or expert reports that determine the approximate value of the renovations. In case the price is higher than expected, it is best to buy a new or unbuilt property.
Legal Considerations
In general, these types of properties are usually free of liens, annotations and charges, because they are inheritances or homes that do not want to be preserved; therefore the buying and selling process is less complicated.
Is there risk in investing?
As any type of investment involves risk, therefore it is essential to know the condition of the property, minimum security standards, debts and if the costs of the reform would enter your budget.
To get the exact cost, you must inspect the facilities and ask for professional advice so you can calculate how much you are willing to pay and spend in the process.
Renovating a property is a good option but you need to select correctly, establish a budget and have professionals who can help you with your project. When a renovation is carried out, many aspects are taken into account, such as the distribution of the house, air conditioning or lighting. Although these types of changes require a greater investment, they are essential to position your property as the best option in the market.
Not all properties have the necessary conditions for a successful investment. It is advisable to take into consideration that the budget may vary according to the characteristics of each home. Therefore, if you are interested in making this type of investment, the most important thing is to seek correct advice.
Do not hesitate to contact our specialized advisors by area!
