Buying a property is still a safe investment, either to make it profitable by renting it out or to consider selling it on at a later date. It is necessary though to analyse the details and the situation thoroughly so that this investment really is a successful bet.
At WeRelocate BCN we tell you the keys to success in buying to sell.
Take into account our financial capacity
The first thing we have to analyse before embarking on the purchase of an investment property, is to know what our savings and income can actually cover, as buying a property also brings with it a series of expenses and taxes that will need to be considered before making the investment.
Check the condition of the property
It is important to check whether the property is in good condition or will need renovating, in which case we’ll have to keep this in mind when analysing our financial capacity, in order to know if we will be able to meet these extra expenses.
Choosing the right area
The location of a property is fundamental, but it is also important to analyse the demand in the area and assess all the services that can be accessed nearby. This ensures it will be attractive to a greater number of buyers and the sale can be made as soon as possible.
Once we have taken into account the expenses included in the purchase of the property, it is also necessary to calculate what the rest of the expenses of the property will be, those we’ll come up against until the property is sold (community fees, property tax, insurance, etc.).
Ask for professional advice
If we really have enough savings and we want to buy a property to get the best return on our investment, a good idea may be to turn to real estate professionals who can help us choose the most suitable property to sell in a short space of time, ensuring we not only recover our investment but also get the best possible return.