Location, Location, Location The Caribbean is a vast archipelago made up of a multitude of islands, each with its own charm and personality. From…
Information is key when making a decision that involves capital investment. The real estate market is a very wide market with many options, so if you’re considering investing, the more reliable information you have, the more security you will get when taking the next step.
Before you make the decision to invest in real estate make sure to consider these 5 points, whether for personal use or for renting, it will assure you a better purchase.
1) GET LEGAL ADVICE
Reliable legal advice will offer you the appropriate information for your investment, this information has to be based on the current legislation of the country you want to invest in. Choose professionals with proven experience to accompany you in this process.
In the Dominican Republic, the law #16-95 on foreign investment, enacted on November 20. 1995, recognizes that foreign investment contributes to the economic growth and the development of the country. In this way, the application #214-04 of this law, indicates that the foreign investors can invest equally as Dominicans, having the same facilities as direct access to bank loans.
2) TAKE ADVANTAGE OF BANK FINANCING
Ask your bank or other financial institution about mortgage credit plans, in many cases you can get a variable percent finance on the value of the property, low interest and long payment terms. Get the correct information in the banks and entitlements of every country, as their conditions may vary.
3) AMENITIES ADD VALUE TO YOUR INVESTMENT
Amenities do make the difference
Investing in real estate goes beyond the property itself, the urban planning, the location and the amenities that the project has are determining factors to consider
Knowing the area where the project is located determines their level of security, and you can search for any type of amenities it could have such as a swimming pool, sports courts, golf courts, attractive places, etc. Is important.
The amenities make your real estate project stand out, they add comfort to the residents and an extra to the value of the property, increasing the sale or rental value up to 40% more.
Your purchase decision must be consistent with your purchase objective, whether the property will be for investment or personal use you will customize your needs to the environment of the project.
4) PROJECTS ON PRE – SALES STAGE
When you buy the project when it is on pre-sale the benefit is that the price is better, you can get excellent opportunities with little initial investment, you only need to do it with responsible companies recognized in the real estate market.
5) SEEK FOR SEVERAL OPTIONS
Evaluating all the options that the real estate market has to offer in the area that you chose will give you a better picture when making a decision.
It’s possible to make a successful investment, knowing and applying these tools will help you make the right decision when investing in the real estate market.
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