They say the best investment on earth is earth. Land supply is always scarce and demand is increasing daily due to population growth. This has made land investment not an option anymore but a life time achievement. There are tips you need to know when Investing in property or land.
- Identify your investment need, do you want to buy land for commercial or residential.
- Establish your budget. What can you afford to pay for it.
- Use services of an agent or a Real Estate company. Never ignore this, Real Estate agents are professionals who will guide you to invest.
- Do a background check of the land you want to purchase. Carryout land search and also ask neighbours the property history. Ask leading questions and tick your check list.
- Second guess everything and anything until you get facts. Trust only yourself, it’s your money, never be in hurry to invest. Offer mixed signals to the seller to identify the authenticity of the deal.
- Negotiate price always, know the value of the property too. This will help you pay the actual price of the property.
- Develop your property after purchase. Idle land attracts con men and women.
- Involve the services of experts always through out the process of acquisition and development.
- Invest in Real Estate regularly. Become a serial Investor and build portfolio income.
- Keep your land purchase documents safe and under lock and key including Title Deed, purchase receipts etc, you may require them one day, even after purchase process is done.
Having this information you make an informed Investment decisions and avoid obvious land purchase mistakes.
