Real Estate Investments To Consider For 2021
A question that’s as old as time itself; is real estate investment really worth it? In short, absolutely, as there are so many returns that you can gain from your initial investment.
If you’re considering investing in real estate in the near future, but not sure where to turn, we’ve got some great ideas for you to consider and why they’re a good idea.
Buy to resell
A quick and easy way to get a return on property you’ve invested in is by using the buy, renovate and resell method. It’s as simple as it sounds too!
You simply buy a property that needs some work doing (often you can work the asking price down, too), invest some money into the property by revamping rooms such as the kitchen and bathroom, and then put it back on the market for a higher selling price. The great part about this method is that sometimes, you don’t need to spend a large amount of money to increase the value of a property.
Rent out a holiday home
Another great way to take advantage of returns that real estate investment can bring is by purchasing a holiday home in a well sought after destination. Again, spend some time making it more desirable, and you can rent it out for large sums of money per week or month.
Holiday goers can then rent your property from you while they’re on vacation, and you earn a tidy sum from it! Plus, you’ll also have a holiday home available if you fancy a breakaway. You might look for a beachfront villa for sale mauritius, or perhaps you fancy the idea of a log cabin in the Swiss snowy mountains. Either way, you can earn a tidy profit from owning a holiday home.
Invest in residential lettings
You may be looking for a constant earner, and owning residential properties is a great way of achieving this. Again, you might have to put some TLC into properties you’ve purchased, but you can then rent them to families and earn monthly from your investment.
Before long, your property will have paid for itself, and the money you earn from it can go into savings to help save for later on in life! One downside of owning any property, but especially residential lettings, is the responsibility of repairing anything that goes wrong. Taking out insurance for landlords will help protect your finances.
Consider commercial property investment
Finally, if you’re not keen on any of the above ideas, you might consider commercial property investment. This is where you buy and own a commercial property and rent it out to businesses to run month to month.
This could be in the form of a warehouse, office spaces, or even outdoor spaces for construction businesses. The great thing about commercial property is that the cost of rent is often much higher than residential, so the potential earnings may be higher. The possibilities are endless!