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Things to keep in mind with your first property investment

Many people consider property investment as a cakewalk but it’s not that simple otherwise everyone would have been doing it. But you also need to consider the fact that it is not rocket science and with proper knowledge and precise steps you can make your property investment the most profitable moment of your life.

There is a large group of people who go wrong with their first-time property investment and there is nothing wrong in it as every step you take in life adds up to your experience and minimizes your chances of further mistakes in that field.

In this blog post, we will be looking at some of the most important things which you need to keep in mind while making your first move in the property investment.

Keep your emotions aside

There are many investors who end up paying more than the actual worth of the property because their decision is based on emotions. But if you are buying the property from an investor point of view then you need to keep your emotions aside and think rationally otherwise you will not get the desired return on that particular property. Keep your focus limited to the finances and don’t pay too much attention to the fixtures.

Don’t expect quick return

If you are considering your property investment as a get-rich-quick scheme then you are living in your world of misconception. There is no chance of getting financial freedom from your property in less than six or twelve months until you are using a very aggressive strategy and lots of money. You need to be patient with your property if you want to get the desired return. Don’t invest in property if you hate your job and want to invest in property and then relax on a beach for your lifetime.

Choose an expert

As said earlier, property investment is not a pie and therefore rather than going alone and making wrong decisions in the world of property investment, you should choose an expert to get the desired result. A property expert like Dream Design Property can really make your wish of investing in your dream property come true. Whether it is about finances or specified purpose of investing in property, experts will guide you on your each and every step.

If you are careless with your property investment then your dream of getting more than your expectation can turn into a nightmare. Be patient and choose an expert while investing in your first property and let your investment act as a magic wand for your personal finance.

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Why most of the people fail at property investment?

Property Investment

According to a study, it has been found that out of 2 million property investors in Australia, only 18 percent are able to invest in more than two properties and one percent are able to invest in more than five properties. The property investment industry looks very lucrative to many people but only a handful of them are able to make it a profitable deal.

There is a wide list of mistakes committed by property investors which makes their every move in the industry a failure. But in this blog post, we have compiled a list of some of the most common mistakes which becomes the biggest reason for people failing at property investment.

Being too selfish

Property investment involves a lot of money and therefore most of the people always look for a perfect deal but when it comes to real estate then instead of purchasing property on personal preference, you should prioritize the need of the target tenant. Being too selfish with your property investment can also result in a disaster.

Not being patient

Patience is surely a virtue when it comes to property investment. If you are dealing with real estate then you should consider it as a long term commitment and that’s how you are going to survive in this neck-wrenching industry without suffering huge losses. Most of the people fail at property investment because they lack patience and flip the property for a short term profit. But if you need to enhance capital growth, you need to hold your property for at least 7 years.

Lack of analysis

Another major reason for failing at property investment is lack of analysis. If you are thinking that your property investment transaction will get completed quickly then you need to overcome this misconception as without proper analysis, most of your decisions in the real estate industry will not go well. Never make any deal in the real estate without doing the maths as the real estate industry is dominated by people who are good at analysis and who are very patient.

If you don’t want to fail with your property investment then you should avoid doing the mistakes mentioned in this blog. You can also choose an expert like Dream Design Property in order to avoid any chances of mistakes with your property investment.

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Use these parameters for choosing the best real estate agent

Real Estate Agent

It doesn’t matter whether you are a newbie at real estate or an expert, having the right real estate agent by your side will always be advantageous. It will not only make your transactions profitable but it will also assure that you go through a seamless process.

But with more power comes more responsibility and with many options of real estate agents, sometimes choosing the right one becomes quite tricky. Therefore, we have compiled a list of parameters which you can use in order to choose the best real estate agent.

Get in touch with recent clients

is to look at the customer reviews and get in touch with genuine clients. By doing so, you will get an exact idea about the service of the real estate agent. Ask the clients about the price, the post-purchase service and level of transparency.

Level of experience

An experienced real estate agent will surely be able to guide you well in comparison to a new player.The real estate business is a commission based industry and therefore survival of any player for a long term with awful service is next to impossible. But still, you should prefer an experienced real estate agent over a newbie in order to gain maximum profit while being protected from each and every type of risk. An agent who has dealt with different types of situation will be less likely to be rattled.

Find an agent who can trust you

Trust is very much important in the real estate industry, therefore, you should choose an agent whom you can trust. A real estate agent who has a good reputation in the market, who maintains the highest level of transparency and who can be always available for clearing your doubts and solving your problems is more trustworthy than any other player in the market.

You should never choose a real estate agent in a hurry because a bad real estate agent can ruin your experience of the real estate industry and can also burn a hole in your pocket. Use expert services like Dream Design Property when it comes to real estate agent and make your every transaction of real estate successful.

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The advantages and disadvantages of living in an apartment

apartment

The real state sector has gone through a vast stage of evolution and due to such fast-paced evolution, now people have multiple options of housing styles. Although now people have a wide range of options when it comes to housing styles, the most admired and popular housing style which is preferred by a majority of people is apartments. But nothing is perfect in the world and therefore even the most preferred housing style has its own advantages and disadvantages.

So, let’s take a quick look at some of the advantages and disadvantages of living in an apartment so that you can get to know both sides of the coin.

Advantages

Economical

One of the major advantages of living in an apartment is its pocket-friendly pricing. The rent which you pay for your apartment is generally cheaper than the mortgage and therefore choosing an apartment over any other housing style proves to be cost-effective. And if you choose an expert like Dream Design Property for renting an apartment then you can be assured about the economical prices of apartments.

Easy maintenance

Along with the pocket-friendly pricing of the apartment, you also don’t have to take the headache of maintenance as it is handled by the owner. So in addition to skipping the cost involved in maintenance, you are also able to remove the maintenance of apartments from your to-do list.

Safe

Although people also invest in security when it comes to their own house the close proximity of neighbours along with the multi-unit dwellings of apartments can’t be matched with your own installed security system. The security of the apartment is best suitable for single women, children, families and old aged people.

Disadvantages

Restriction with space

If you are living in an apartment, then the chances of making an extension are nullified. So if you are thinking of moving into an apartment then you should be prepared to adjust with the available space but with time, everything will start looking comfortable and cozy.

Parking issues

If you have a car with you then you might face a few problems with the parking. Most of the apartments have allotted parking space for each flat but because there is a lot of free space as well, you might not find your parking space free when you return with lots of groceries.

Moving in an apartment is not a wrong decision as it all depends on your need and requirement.  Along with safety and pocket-friendly pricing, you are also able to avoid the headache of maintenance after moving into an apartment. Analyse both the pros and cons of moving into an apartment and then make your decision.

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6 Common Mistakes To Be Avoided While Making Property Investing

Land and real estate are perhaps the best investment that guarantees to deliver better return over time. This is what makes the real estate more attractive and alluring in terms of investment. But there are people who make mistakes during property investment.

Common Mistakes Made By Real Estate Investors

When it comes to real estate investment you would find that there are a majority of people who wish to invest in a Dream Design Property, but they sometimes make common mistakes. Listed below are some of the common mistakes that are associated with real estate investments.

Rushing For The Deal : One of very popular mistakes that people commit when it comes to real estate is rushing for the deal. Make sure to stay calm and be cautious while planning to make a property investment. Don’t forget to do comprehensive research prior making the investment.

Not Checking The Paperwork : In many cases you would find that people are being fooled with fake property documents. You have to understand that documentations are perhaps the most Important factor to consider when it comes to buying a property. So, you should not ignore documentations, failing to read the contract in its entirety, because if you do so you tend to lose both your money and the dream design property.

Ignoring Small Details: Buying a real estate can always be a tedious affair because it comes with a lot of paperworks. It is obvious that you might possibly skip certain details in a bid to fast-track, but overlooking the small details in the contract can be a disastrous consequences. It is best that you have an expert to look at the contract before you sign it

Closely Trusting Others: It has been

seen that there are a number of people who purchase properties as the first timers and they blindly rely on the word of others when it comes to investment. It is extremely stupid and this can lead to spending more than what is actually required for purchasing a real estate in line with your requirements.

Committing mistakes is a human nature, and if the mistake cannot be completely wiped off, you can learn from them. Make sure to remember a few simple points that will ensure that your real estate investment does not count loss.

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Top Reasons Explaining Why Hiring Real Estate Agent Is A Smart Decision

You might say that there is an available information online, so why to hire a real estate agent. Well, there are several reasons that would explain why you cannot buy or sell a home through the Internet instead, you would need a real estate agent. Below mentioned are 5 reasons that would explain why you should consider hiring a professional real estate agent and it would eventually be a smart decision.

Agents Are ExpertiseIn This Genre

Hiring a real estate agent means that you don’t need to be physically present because you have an agent for you. In case you want to sell  your property, the agent would take the spam out of your property showings and visits. He would filter all those phone calls that lead to nowhere and try to induce serious buyers for immediate buying.If you want to buy any dream design property, the agent is again turned out to be helpful because he would be showing you all the list of best properties as per your budget and preference.

Impart Knowledge About The Market Value Of The Property

It is the agent that can help you select the actual price of the Dream Design Property. The professional has the knowledge to guide clients to make the right choices for themselves and pick the correct property. Besides, he/she will devise a negotiable strategy and bring up a win-win situation.

Professional Network

The real estate agents have a strong network with other professionals as helping hand, who can help in buying or selling the property. It is the agents who can give you a list of references with whom they can collect background information about the property and can help you make a wise selection.

Easily Handle Paperwork and Have Great Negotiation Skills

A good real estate agent has the capability to negotiate well. The agent is the trained professional and holds expertise in creating property investment strategies, preparing investment reports and delivering overall property management services. The professional indeed represents his client in every legal affair while helping him/her to buy or sell a property.

The Bottom Line

Not only this, there are many other reasons that would explain why you should hire a real-estate agent. Undoubtedly, the aforesaid reasons are hard to be overlooked.

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