Since the early 2000’s the market for real estate properties in Singapore has exploded with increasing new offerings each day, and new developments are being built to compete in a very open marketplace. Since the nation has one the most business-friendly environments of the region is almost natural to have such as strong demand game set in place to offer plenty of profits to whoever knows how to take a swing at their competitors. Here are some of the things you can do as a property owner to maximize your earnings and have the numberoneproperty in Singapore, or at least a very profitable one.
Have some Foresight when it comes to the Future
This is easily one of the biggest missteps that almost every investor makes about their property. In the ever-changing skyline of Singapore, a project with the most beautiful view as a strong selling point can lose all attractive to it as soon as someone places a bid to lease the terrain just across the street. Don’t make assumptions about the future that doesn’t include change, because you’ll certainly experience a change in the surroundings of your unit. Sometimes for the best, other times for the worst.
Negotiate a Short Loan Tenure
If you are buying property as a form of an investment using a bank loan we have new for you: a long tenure payment plan will eat up every single profit you earn in the short run. Don’t fall for the 30-year payment period if your intent is to use the place as investment leverage. A shortened tenure will claim bigger payments each month, but the interest rate will be a low one. Your numberoneproperty will actually turn a profit in less than 3 years, and you won’t have to refinance the financing deal to count loses.
Buy Housing during Development Stages
A lot of projects offer their units before being completed. Investors willing to take the risk will have to wait a long time to see some of their money back, but they will be rewarded with options to choose the units that suits them better, and the seller will certainly absorb certain costs by having your unit ready to be delivered with basic services. If you are undertaking the risk as a business opportunity and the project happens to be a breakthrough success with enough demand you can always sell the unit for a good chunk of cash.
Renovations are one of the ways to make more attractive your housing unit, and while it won0t affect the overall costs of it in case you are looking to sell it in the short term, you can always increase the price of your rent by a couple of extra dollars if the amenities provided are accommodating enough. Some of the most in-demand modifications are walk-in wardrobes, concealed cabinets and deluxe finishes such as marble, granite, parquet, or high-end ceramics. Your numberoneproperty will certainly become an attractive one as long as you know what you are doing and don’t overdo it.