Factors to Consider When Buying a New Real Estate Property

When it comes to buying a real estate development, whether it is a residential unit, commercial or Small Office Home Office (SOHO) type property, it is very important to uncover what really matters before investing for one. Plenty of new launch establishments are sprouting like mushrooms everywhere. Before buying a prospect real estate property, know what the important factors to consider especially when further details about the project is laid out during the show flat preview.

Typically, state of the art properties are made out of modern fittings and fixtures. It is built using the most advanced technology available to guarantee the durability of the structure and its foundation as well as the overall security of the property. How much more if the minds behind the project are from a trusted and prestige name of the real estate industry? These can be an assurance that you are on the right track of choosing the best investment before moving in.

But what are other factors to take a note of while you are still in the decision making state? Take a look at these reminders:

Property Accessibility and Safety. It doesn’t really matter how huge the property is or how many units it holds. Always consider the convenience it offers on a day to day basis.

When opting for a scenic view on a residential or commercial unit, higher storeys can be your best bet. Having a terrace feature can be a plus especially for a perfect chill out moment alone while taking a break from work. But this can’t be a good option if you have toddlers or playful kids considering the height of the building. A glass window will do or a completely covered wall to ensure quality time between family members.

Lower storeys are good for those who are always on the rush to travel in and out of the property. It saves time from taking the elevator and can be a helpful option for elders or residents with health conditions which require extra care.

Other safety options to consider may or may not include exit areas, fire alarms, sprinklers, fire extinguishers, high ceiling feature, proper air ventilation, thick walls and the likes, especially when emergency cases befall. It’s better to be cautious than never.

Property Cost. Of course, getting a new unit should fit within the budget. Ensure the overall feature of the property is worth a dime. There are commercial or residential units which are for sale or for lease. Rates may differ due to various reasons. Such residential and commercial spaces may or may not come with semi-furnished or fully furnished feature. Talk with a real estate professional for options available and get a quote.

Higher cost can be bestowed to properties found within the heart of the city due to a number of amenities found nearby and the market value it upholds. While farther properties, especially in regional areas, are pretty economical in value. Payment options are also available. If paying it in straight cash seems a little hard to fulfill, housing loan or mortgage option may apply.

Property Location. Busy people consider the vicinity of the property the most crucial factor due to time constraints; ensuring the real estate development is just within easy access for transport and necessity needs.

Properties which are found within the commercial district can be pretty populated compared to places which are a little far from the city. Even so, property seekers have an option to check the location if it’s quite close to a number of amenities; close to work; close to school and the likes.

Transportation Options. It’s an advantage if the preferred destination requires a walking distance from the vicinity.  If there’s a need to travel, it would be a lot easier if the property is well-connected to an array of transport options. See to it that it can be beneficial for both daily commuters and vehicle owners.

Property Facilities (Optional). There are real estate properties subdivisions, apartments, condominiums, industrial sites, office spaces and commercial centers which cater communal facilities for unit owners to get a hold of. Such features are pre-designed already by its property developers such as a public lounge, fitness gym, public comfort rooms, pantry, swimming pool, basketball court, Jacuzzi, car parking, 24 hours security and many others.

Return of Investment. It does not comply only on buying a property which needs to yield profit, like that of solid cash. This means it won’t be a liability in your part in the long run. Consider the possibility of unforeseen calamity events that may happen. Will it not waiver? Nether ground easily lets the flood waters in. Perhaps its orientation is on a mountain slope or near a taller yet abandoned building. Consider the risk of getting hit by an earthquake. Although it may happen once in a blue moon but will it hit you greatly leaving huge damage on you part?

How about for residential units where privacy and stillness are hard to find. Avoid such location where public noise can’t be avoided. Home is where your mind can relax away from the buzz of the city. How about when it comes to air pollution? Smoke from pipes, BBQ, poultry, dried goods, raw meats and the likes normally last on clothes and in every corners of the unit. What’s the neighborhood like? Is safety going to be an issue? These are just some of the questions you have to bear in mind before making that decision.

For commercial spaces, it’s appropriate to invest on a property where it’s crowded. The more people that will come and go in a given vicinity, the higher is the chances of attracting potential customers towards your commercial site.

So before buying a new launch property, don’t just go for the looks but consider the factors that can support your daily needs and the kind of lifestyle you are wearing. Total convenience can make your stay worth living.

Author’s Bio:

Mei Colino –  a property consultant and can get you kick started about real estate news, tips and further details about property reviews and show flat events. Visit www.propertyreview.sg for more info.