Tips for first-time property investors: Part 1

Ensure your purpose is clear

Before diving into any decisions, first ask yourself what type of investment you’re looking for and clearly establish your motivations. Are you looking for a residential or a commercial property? Are you going to live in the property and resell at a later date? Do you plan on living and doing business there? Are you investing for the short- or long-term? These are all key questions that you should have clear answers to before moving any further in the investment process.

This first step will help you to easily narrow down your options – especially in a market like Cambodia’s where an abundance of property types and opportunities are available.

For example, if you’re looking for residential properties that you can either rent out or sell later, you should look thoroughly into villas, condominiums, flats, and apartments in boreys and embark on researching the areas that are in demand. All of this key information is available from multiple online and published sources.

Examine the property’s potential

Depending on what type of property you’ve chosen, it is critical to undertake further research, such as which locations can offer you the lowest price for the highest potential for growth and profit. Being completely honest with yourself about what you can afford and the actual return on investment is something you need to be completely clear on.

Keep in mind when examining the property’s potential you will have to factor in variables such as maintenance, repair, and business fees attached to the property. Payment terms, loans and interest will also affect the total amount you need to spend to secure your investment.

These are the first steps to take into consideration as a first time investor.

2018-01-09T21:02:25+00:00December 6th, 2017|News|