18/05/2024
WHEN BUYING A CONDO, BANK THESE TIPS!
Five critical test of a good condo investment
These five core filters are the bread and butter of investing in real estate. If your next purchase does not pass at least four of the five filters below, it is likely a good time to reconsider the investment.
1. PRICING
- Pricing is the easiest way to ensure that you are on the right track.
2. DEVELOPER EXPERIENCE
- Try to buy from a local developer that has a portfolio of successful products in the neighborhood.
3. DEVELOPMENT LOGISTICS
- Even if the price is right and the developer is great, you will still need to examine the size of the project, layouts, designer, amenities, etc.
4. LOCATION and NEIGHBORHOOD
- Condo investments, resale or new, hinge on their location and the neighborhood that surrounds them.
5. RUNNING the NUMBERS
- Future rental capacity is critical to a strong investment and building a passive portfolio is rental numbers.
Running the numbers, researching and finding the right opportunity is the best part of the game and it only becomes easier after the first couple of deals are behind you.