Tips on Buying, Selling, Renting, and Investing in Property

According to the Malaysian real estate listings, prices may have increased recently. However a buyer, renter, seller, or investor can still thrive in this market. That is, with the right amount of strategies and basic knowledge. Here are a few basic tips on buying, selling, renting, and investing in property.

 

Have Clear Objectives

Before buying property, you must have clear objectives. Are you buying to stay or to invest? When applying for a loan, be sure to apply to more than one bank. This will allow you to compare as many competitive rates as you can between the banks. Finally, be sure you have the budget not only to purchase the property but to maintain it as well. Bills and newly discovered damages may be overwhelming for unprepared buyers.

 

Keep Your Property Attractive and In Shape

When it comes to selling property, looks are everything. It’s just love at first sight for many buyers. The property you wish to sell must, therefore, look appealing on the outside to your potential buyers before they take a single step inside. Once your potential buyer steps within the four walls of your property you want them to fall in love with the inside as well. Small things like painted rooms and tiled floors can really appeal to a buyer. However, the property must also be in good shape. Hire a pest or building inspector to make sure your property is fit to be sold.

 

A Good Tenant Makes a Good Home

Be sure to rent out your property to a good tenant if you want to be a renter. Make sure to do a background check on potential tenants’ criminal and credit history. Once you have a good tenant, encourage them to obtain renter’s insurance. This is beneficial to both of you because your tenant’s belongings are protected, and you are less-likely going to have to deal with a lawsuit if their belongings do get damaged. Another way to be protected from lawsuit is to have a lease. With a lease, you can set guidelines to your tenant so you both understand costs, repairs, due date for rent, and many other important points.

 

Location is Everything

Investing long-term ensures a better chance of obtaining a constant cash flow that could lead to an early retirement. When investing in a property, aim for properties that are in great shape as well as a good location. This doesn’t mean you should invest in expensive properties. It is the moderately priced properties that sell the most.