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Do you Own a Property or Think of Owning one? Mind these Things…

: 2018-02-09 Modified date : 2019-04-11

Do you Own a Property or Think of Owning one? Mind these Things…
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There are some things that realtors should be aware of before making a decision to buy the property and after buying it.

First, one should not bear large debts cannot be paid, where a number of those wishing to own real estate, but do not have sufficient cash, to resort to bank loans, or borrow money from their surrounding social relations, which cause large debts incurred by the owner in many cases, to re-sell the property at a greater loss due to additional fees and expenses that the landlord is burdened with the obligation to meet the full financial implications of the property. This is evident when the property is purchased on the basis of interest-bearing bank loans, which mostly can’t be repaid.

It is also advisable to ration the property closely, emotionally speaking. The landlord may be forced to abandon it at any time because of the need for material liquidity. In case of an emotional decision of that matter, this may result in loss of profit available from the sale of the property right on time.

Before renting out the property, an investigating should carefully be made before determining the amount of monthly rent, the monthly rental fee can be determined accurately by conducting a study on the real estate market or using a specialist real estate expert.

It is necessary to keep the house clean in a new condition and to carry out the necessary maintenance, repairs, and alterations periodically. The property that is constantly being maintained has a greater chance of profit-taking than the ordinary property. This is evident in real estate brokerage sites on the Internet in terms of real estate prices, and the payable rent of them.

Source: Hürriyet Emlak

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