Reserch before buying a house

[shina]

Hi,

I read a lot of people suggesting that when buying a house for investment we need to do our own research, what does it mean? can someone please give a case study so I can understand what the research should include so I can make sure I buy a house with the best option of making a good profit?
That would be very helpful.

Thanks ,

Shina

 

[Nicholas Wallwork]

Hi @shina

There is a lot of "due diligence" or research you should do. If you are buying a "home" rather than an investment it's different in many ways but ultimately you don't want to over pay for the property or buy a building with problems.

If it's for investment then research on the local rental market is key, is there demand there, what are the rental values for comparable properties in the area etc. Speak to as many agents as you can to gauge this and ask their advice. Compare prices on the main property portals and see what is letting/selling and what is not.

Check the employment demographics for your chosen area, what tenant sector are you targeting for your end tenants? Research that area specifically...

All of this is before you do any legal due diligence or property specific due diligence (like building surveys etc) most of this is done by your solicitor but you'll need to stay on top of it and understand what is being checked.

That should get you going as a "starter for 10"!

 

[renupicker]

Before buying house research is important. Research of builders or developers can be done on the basis of their experience, projects, plans and ideas for home building and many more. Also, the material they used is quality material or not.
You may check out the constructions or new projects of top builders and developers in Amravati at picker online.

 

[FWL]

I suggest taking a look at the array of articles on the site blog:-

https://www.propertyforum.com/property-news

You should be able to pick up some good tips there.