Property Buyer's Guide PART:2

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Simple Steps to Buying Property the Smart Way with right Price
Buying a house is like putting a lot of your money or sometimes all your lifetime investment into a big jar; you hope the jar gets fuller over time.
It's not just picking a nice spot ( as they say location ) that's important and we have explain this on our pervious video check links, but also more important factor is how much you pay for it.
Purchasing a house for its regular market price or less may result in earning more money from it later as its value increases.
If you decide to sell it in the future, at the very least, on worse scenario you could get back the amount you originally spent which is called exit strategy.
Here's a simple way to not spend too much and loose and even watch the value of your property grow year by year:
1. UNDERSTAND the Market:
How Much Homes Cost: Look at home prices in the area you like. Check how much they've been selling for and if the prices are moving up or down.
If you don't know how to do that online I will explain you at the end of the video
If there are more people who want to buy houses than available house for sale on the market, more likely the prices of houses could go up on short term. ( which is could demand and supply)
Another factor to understand is to know how much land is left to build on in the area. If there is not a lot of land to build on, then the prices will probably go up later, no matter how many people want to buy., But this is not so easy to understand unless you are a real etstae expert at the area.
Also, consider which nationalities are buying in that area. If locals are also buying or investing, then it's advisable to focus your attention there.
However, if only overseas buyers are involved or if it's primarily one nationality dominating the market, it might be best to stay away from this area.
On the other hand, if there are too many homes and projects but not enough buyers, prices might not change significantly.
Therefore, it's essential to examine the local population and the number of houses for sale in that area.
Try to create a ratio involving the population, the inventory of resale houses, and the availability of new projects on the market.
This approach will provide you with a better understanding of the situation.
If you're unsure how to calculate this ratio, don't hesitate to seek advice from local experts.
b. Talk to the Local Experts:
Find local based estate agent who know lots about selling homes in that place and make sure they area in this area acting as real estate at least 10 years.
They can point you to neighbourhoods where the prices might rise.
2. Step 2: Determine Real Worth AND Prices:
a. Get an Expert's Help and valuation:
Look at prices of homes like the one you want that were sold recently. This gives you a basic idea if you're paying the right amount.
It's advisable to have someone help from knowledgeable agent about property valuation.
They can determine if the price is reasonable.
If you're unsure, consider hiring a real estate agent who offers property valuation services for a small fee. especially if you're interested in a resale house.
3. Think About the Future:
a. Location:
Choose places where businesses are growing, new things are being built, and if there are business hobs and schools in the area. This might make your property more valuable.
b. New Projects and up and coming area:
Check if there are plans for new things like tourist spots, schools, marinas or stores. These can make the area more popular and your property worth more.
Buying property is a big choice, especially if you are investor and you want it to make money from your investment.
You should keep up with what's happening in the market very often.
Talk to good local agents who really know the business.
I advice you not to talk to taxi drivers or weiteres as they always complain about the how hard is the life and so on.
Our team can give you advice if you're busy.
We can assist you in selecting the right property to ensure you don't make a loss or overpay, but instead, make a profitable investment for the future..
Check out the links below to learn more and get our help to buy property in a smart way.

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