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Buying a BUY-TO-LET property . . .
If you are not an experienced landlord, i.e.
someone who owns property for the
purpose of renting it out, you may have
wondered about the many buy-to-let
adverts you see from time to time. How do
you know whether you are buying the right
property?
The soul
of a good buy-to-let property lies in
it’s desirability for prospective tenants.
Location: When two similar properties are
available, tenants with children will favour
the one that is close to the right school and
away from busy streets. Others may prefer
to be close to the CBD.
General condition: Everybody prefers clean,
well-maintained properties and tenants are
no different. By providing a fresh, well
cleaned property where gates and windows
open easily, wood surfaces are treated and
the roof is not leaking, you will attract a
higher rent from the market.
Size
of the property: Every size property
does eventually find a tenant but if the
demographics indicate that more young
families are moving into the area perhaps
because of new and growing industries,
three bedroom houses may have more
prospective tenants than studio apartments.
Read more . . .
in the April 2010 Newsletter here >>>
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Residential Land for
Sale
Since
2008 the Municipality of Swakopmund has made several blocks of
land available for development by
private entrepreneurs.
Most of these blocks
lie north of
Swakopmund in the area boxed in by
Ocean View, Mile 4 and the Henties Bay
road.
The developers are now in different
stages of the slow process of planning,
subdivision, providing of services, etc.
Marketing has now
started on some of
these blocks but subject to the
subdivision being finalized. Prices seem
to start at around N$380,000 and land
can be secured by paying a 10% deposit.
Expect, however, to wait several months
for transfer. Still, an excellent investment
opportunity for the beginner.
Ask your agent for
details.
The Best time to Invest.
We are often asked when would be the
best time to invest in property.
Market trends in the
past have definitely
shown that during
some periods more
profits are to be made when buying and
selling. Unfortunately there have also
been times when losses were incurred,
hence the question “When is the best time to invest?”
The key word however
should be “invest” and not “when”.
True investors always
look at the medium to long term whereas speculative buyers look
to make a quick
buck by selling (flipping) a property soon
after buying it. For the latter group of
buyers, timing can be critical as their
profits/losses are determined by short
term fluctuations in the market.
Investors on the
other hand are in the
market for longer periods and as long term movement is generally
upwards,
these buyers make their money through
long term appreciation and short term cash returns, such as
rent.
Read more . . .
in the April 2010 Newsletter here >>> |
