When one proceeds wisely and in a well considered and focused manner, in many cases, real estate has been one of the best individual financial assets. One would think, because of that, that more individuals would proceed wisely to protect their investment, however, too often, we have witnessed, this is not the case! How we proceed and the steps taken often determine whether investing in real estate is the smart way to go and an investment one can trust. With that in mind, this article will try, briefly, to carefully consider, examine, revise and discuss, using the mnemonic approach, why it is important, SELECT a property, before committing to buy it.
1. Strengths; systems; schools; safety; services: Carefully determine and identify potential and actual existing strengths of a subject property. Which systems are the most desirable and valuable? Are area schools a financial positive or negative? How is the security of the area perceived and conceived and how does it compare, statistically, with other places? What services are provided and offered that could add value?
two. fun; education: Does the area offer availability of desirable entertainment that can add value? Is there an emphasis on education, which could benefit both homeowners and real estate investors in significant ways?
3. To lease: It has often been said that real estate is about, Rent, rent, rent! How desirable is this area, in terms of what attracts consumers, investors, etc.? Factors include: the general area/region; the specific possibilities; the block, and lot, etc.
Four. Energy; energize; Excellence: Are there specific energy considerations that can increase or decrease the overall value of the property? How might these factors energize value and use in a meaningful way? Is the general condition and maintenance of the grounds and building focused on genuine and meaningful excellence?
5. Confidence; convenience; Churches (Houses of Worship): Why would anyone have confidence in the future of this specific scenario? Does it offer any convenience that increases its value and potential? Since many consider the areas, based on the desirability of Houses of Worship, are there many options available at or near this location?
6. tax; Type; land: All owned lots are not the same, even though they are, the same size, etc. Examine the land and how much is usable and beneficial! Is it attractive maintenance and will it be difficult to maintain it? How might real estate taxes affect your decision?
The more you know, the better your decisions will be! SELECT, And choose wisely and carefully, weighing as many relevant factors as possible!
