In addition to the profits, you will get and also the losses you need to bear when investing in condominiums, there are other considerations you should know before having a condo unit. Are you interested in buying condos? If so, visit our website and find botanik residence floor plan.
– Right Location
If you want your condo unit to generate a capital gain or cash flow benefits doubled, you need to consider the location of the condominium. The location is usually very profitable is an area that has a tourist destination that is loved by local or foreign tourists. Thus, vacation periods such as school holidays will make your condo units crowded for rent by travelers or tourists. If you are interested in condotel investment considering the enormous tourism potential to even bring tourists from within and abroad, you must choose the right location. Can be ascertained that every time the holiday season arrives, your condotel will be visited by the guests. Imagine and count every profit you will get.
– Fair Buy Prices and Rental Rates
In addition to a reasonable purchase price and in accordance with the facilities provided, after having one condo unit, you need to consider the rental price of the room. Higher prices, of course, will increase your profits and can even accelerate to turning back the capital. However, you also remain cautious in setting rental rates. Do not let your rental price is too high or too expensive compared to other condominium rental rates. If the rental price is too high, your prospective guests turn to other condominium units where the rent is more reasonable. Have you imagined the great benefits you can get through condo investment? Indeed, the profits will be large, but the required capital is also directly proportional.
– Reputation and Credibility from Developer or Developer
The credibility of the developer and also the manager of the condominium should also be of your concern. Do not let you invest in a condo and work with developers and managers who have a bad history in working with previous investors. Be careful if developers or managers have been caught up in legal issues related to violations that have been committed in the past. Check clearly and thoroughly on the legality, the status of the condominium establishment, payment schemes, revenue sharing, and all legitimate agreements.