Tag Archive: property

A Guide to Purchasing a Land

residential

It is crucial to note that land gains value with time, and unlike other assets, the property does not depreciate. That is why you will realize that there is an ever-increasing demand for land investments. If you are a first-time real estate investor, it is advisable to research and know the factors that you should consider when looking for land for sale. However, buying an area can be a horrifying process when you do not know what to find in this process.

On the other hand, buying land can be far more romantic when you know what you should consider and what to avoid. When you are such a state, this will end up being a joyful process since you will get to own a share of the earth and also make other steps towards investing in a real estate. Therefore, for you to make a fulfilling land investment, the following are some of the steps that you need to put into consideration.

Consider the Location

When you are planning to purchase land, one of the things that you need to consider is the location. For you to reap big when it comes to real investment, you should find the perfect area. Depending on your needs, the place is one of the critical things that you need to consider. For instance, if you need to purchase land to build a residential house, you should find a location that is accessible to various amenities.

Affordability

farmYour purchasing power is also another critical thing that you need to put into consideration when buying a land. Purchasing a commercial or residential property is a long-term investment, and due to this reason, it is crucial to ensure that you get the value of your money. That is why it is advisable to consider affordability. In other words, go for affordable land.

Available Infrastructure

When you are a land buyer, make sure that you ask yourself the kind of infrastructure services that you need on the land that you want to purchase. The availability of water, electricity, and the right roads contribute a lot to the development and growth of a given area. If you’re going to sell and buy land, this is one of the important things that you need to consider.

Ownership History

When you want to own land, it is advisable to check on the ownership history of the area before you commit to paying for it. Ensure that you identify the rightful owner to avoid future problems.…

A Guide to Buying Condos for First-Timers

condo interior

You may hear how great it is to live in a condo. You’ll get to live in the hottest location, and you will also be pampered with all the amenities like a gym facility, a swimming pool, a park, etc. But now that you’ve got interested, and you are planning to buy a condo, you’re probably still confused about where to start. 

First, you can check Clavon to take a quick look at how a professional condo developer is supposed to market their units. From there, let’s discuss the details below. 

Learn the Ownership Law

The laws of property ownership vary from one country to another. And unlike a single-family detached home, if you buy a condo, you own the condo unit, but not the land and the whole building. The paperwork on this may get a little bit complicated, especially about the rules of condo improvements and renting. 

However, in some countries, the law can get specific. In Singapore, for example, there are two kinds of by-laws. First, the Second Schedule of the Building Maintenance (Strata Management) Regulations is constituted by the Building Maintenance and Strata Management Act (BMSMA). BMSMA is like the regulating institution of all condos in Singapore. Second, there is another set of a by-law that is made by condo managements. Different condos will have different rules regarding this second type of by-law. 

Now, back to the BMSMA, condo owners are not allowed to cause a disturbance, obstruction to common property, damage to the lawn, trees, and shrubs, to deposit rubbish and unwanted items on the common property, store flammable liquids, etc. You need to be aware of rules like this before you decide to buy a condo. 

Assess the Location

a crowded districtLiving in a condo is common in urban areas because condos are often strategically located there. If a condo unit is too far away from the central district, there is no reason to invest your money here. In other words, location is a critical aspect to consider when you want to buy a condo. 

However, some condos may not seem like they possess an immediate location benefit. And that is because the developer may have seen some potentials that are not obvious to you. If you see such condos, you should learn the city’s development projects. There may be malls, companies, universities, or other commercial attractions in the next two or five years. In that case, you’d better buy a condo there before the price spikes. 

Evaluate the Pricing

stacked-up coinsThis step requires you to do a little bit of research. First, you have to know the average price of condos in the selected area per square feet. Second, learn about past sales of condos in the neighborhood. If you can’t get this information, you can hire a realtor to consult. Third, you need to scrutinize the offered floor plans of the condo. You should check if the price you are paying is worth it. 

Moreover, if you are applying for a mortgage for the condo, you need to consult a financial advisor. Closing cost, lawyer fees, property taxes, levies, monthly utility fees, monthly condo maintenance fees, and insurance are the topics that you must discuss.