Buying a wise investment Condo? Here Is a atlas!

Things to look for involved in an Investment Condo

A friend called me until recently, and asked me to give him a Market Evaluation with his investment condo. Turns out he had got such a small condo about recently, and had done so what 'privately', a decision he now regretted for a number of reasons. As we were recalling his investment condo, my mind went elevated features any investor must looking for when you invest in condominium.

1) Location, Location, Loc...
You've heard a before. The top three salient things in real home are.... well, you detect. Its no different when you invest in an investment condo, or a condo to your own use. Will it be simple to resell, or does the placement hamper your re-sale systems? If you're going to rent it out, is the condo located near the bus routes? Is the marketplace safe? Many factors visit us.

2) Parking
Parking, especially in central locations such as that of downtown, is always tight. Even if you are sufficiently lucky to get rent out your investment condo to someone that does not drive their own vehicle, reselling a condo without its parking spot is more difficult.

3) Balcony
With several apartment-to-condo transformations underway, it's easy to forget should a balcony is still by far the most important features requested by buyers. Without a spot to sit outside, perhaps read the sunday paper in the fresh respiratory tract or throw some beef from the 'que, owners and renters seems like trapped inside their rental. Make sure your investment condo has a balcony or, if close to the main floor, it incorporates a patio space.

4) In-Suite Laundry
Less worthwhile with single men, but almost 'vital' to female condo clientele renters. Having a secure spot to do your own laundry is, at the the bare minimum, a 'nice to have' spotlight.

The above 4 features are probably the greatest important ones to have in mind. Depending on your fee, you may want mindful of several more:

Bonus: Concrete Building
Usually a whole lot more expensive, but well definitely worth the price. Quieter, more solid and stable, an investment condo with concrete walls will also make regarding easier resale.

Bonus: Central Air
Central Air Conditioning and heating yet another nice-to-have feature, making the condo more comfortable and preferable to rent out.

Bonus: Secure Parking
Especially inside your winter climate, having underground or indoor parking is usually an often-requested feature, albeit at a price premium

Back to my family member: His private purchase were initially a very poor conversion, as his investment condo had Number these features. Located getting a rough part of destination, no parking spot, minimal balcony, no insuite laundry and on the 3rd floor with virtually no elevator will make slideshow very tough sale, in a hot market.

Moral along at the story: If you're likely to invest some serious money into real - estate, call a REALTOR(R) BEFORE you use the cash. I would much rather guide you in a right direction, than try to compliment correct a mistake already made.