Now, this short article is meant to help encourage owners and investors to choose the right unit for their specific needs and preferences.
Regardless of whether the reason for the purchase is an investment, personal use or business, these 5 elements will certainly help the buyer in his desire to buy an apartment:
- The key is the location, location and location
When looking for a new place, this factor should always be at the top of the list. It all comes down to the type of environment a person prefers, the kind of people they are willing to deal with every day and the preferred method of transportation. For example, the owner of an apartment that does not have a car can feel more comfortable living in a transit-oriented unit. On the other hand, the owner of a car is strongly recommended to verify the density of movement of his target property.
Before focusing on the target unit, try to evaluate your potential investments and your ability to pay them. As mentioned above, condo like Piermont Grand Pricing vary and apartments in commercial areas tend to cost more than elsewhere. The developers also have different types of payment schemes. Therefore, if a home seeker chooses a payment method, he or she must make sure that their monthly income can cover the costs. You must also take into account the monthly membership dues that you must complete as soon as you receive full ownership of the unit.
- The physical condition of the property
A condominium generally has a useful life of 20 years and can be extended up to a maximum of 50 years. Then, once you have the property, make sure you know your age and check your amenities, including elevators, which can be quite expensive to replace. This gives you an idea of the period in which you can benefit from your investment. In addition to the age of the property, the housing applicant must also verify the building’s safety and preparedness for disasters such as fires, floods and earthquakes. After all, safety is the number one priority.
- Return on investment
Regardless of whether the buyer wants to buy an apartment in a condominium for investment or personal use, you can decide to resell your space and get a return on the investment. If so, they must take into account the inflation value of the property. As mentioned in number 1, investment in the best locations can generate higher returns than in other areas. For example, an investor who has purchased a unit in a commercial district can receive up to 40% of profits in a year, compared to the 10% that other places can offer.