4 Key Factors to Consider – Before You Buy Property in Bangladesh as an Investment
The property market in Bangladesh looks promising. The socio-economic development of the country has a direct connection with the upsurge in the demand for luxury flat booking in the country. As things stand now; the real estate sector is directly contributing to the GDP while attracting local and foreign investment and generating employment.
The real estate sector thus stands as a great investment option. The rate of urbanization has been witnessing a constant northward momentum in Bangladesh. The country’s trend of urban growth has clearly increased the demand for housing. Investing in the luxury apartment therefore, will not only generate a constant income source for you (if in case you rent it out), but your plush flat can also rise in value over time and prove a good investment in terms of cash value. You may plan things well and use it as typically a part of our wealth building strategy.
If you are looking into real estate investments; if you are serious about earning wealth on real estate, you need to make an informed decision. As a responsible investor, you need to make smart choices upfront when buying any property for investment purpose.
So, here are the 4 significant factors to consider when making a real estate investment
Prioritize and plan out your expenses before you buy any property as an investment
This is certainly an important consideration before you plan to purchase any property as an investment. You should consider the cost of taxes and the way you plan to resell or rent it out. This means you need to price property (when you plan to put it on rent or sell it out) in such a way so that all your expenses and tax fees are covered fully. You may create a ‘fund’ for the property and direct the rent amount into that account to quickly create a buffer reserve.
Try investing in luxury apartments in Bangladesh to yield the maximum benefit from the growing segment
The fact is hard to deny; people will always look for a place to stay and this where you need to play your role if you are serious about getting the maximum return on your real estate investment. The key here is to own a luxury flat in strong geographic area, with a steady population and rising demand for luxury real estate. Take a closer look at the real picture – the millennials are not buying homes like their previous generations. The desire of leading a good life has been encouraging the luxury home buyers in Bangladesh to look for stylish and contemporary homes. This means; if you buy in the right location, you’ll see the benefits of your investment within a short time.
Do your homework and stay informed about the real estate company and the property you plan to purchase
Do not make an investment blindly. Do your homework well and survey the current real estate scenario before you sign above the dotted lines. Do a comparative search and compare the pricing of similar properties. Also; take a closer look at the apartment features and amenities before you zero down on one. Most importantly; check out the reputation, background and the track record of the real estate company before you choose to buy any property, in order to ensure that you are investing in a trustworthy housing solution.
Consider the location of the property
The century-old adage that “location matters” is crucially accurate when it boils down to the point of real estate investing. This means; before you fork over the down payment to buy flat in Bangladesh, ensure that the property is in a good location. Plush apartments in elite and exclusive areas like Basundhara, Baridhara – J Block, Gulshan, Dhanmondi will certainly give you a lucrative return on your investment.
The bottom line
There’s no denying, investing in real estate offers the potential for fabulous returns. Just like any other investment prospect, real estate investment also requires that you start small and build your way up. Begin with a solid property at a great location to be in the real estate game!