Before actually looking for a property such as a damansara utama property for sale, you need to be clear about the size of the investment you want or can invest: Are you starting out small with a one to two-room apartment or starting directly with an apartment building?
Talking to a bank advisor or finance broker can help you determine the amount for which a loan will be granted to you. Take together with the saved equity, this results in the upper limit for your investment, which allows you to make the subsequent property search much more precise.
When making your calculation, you must not ignore the incidental costs: real estate transfer tax, notary and brokerage fees cost you an additional 10 to 15 percent of the actual purchase price and also the important maintenance reserve, which requires additional capital reserves. You can also find more helpful tips about bank loans in our guide on real estate financing. Targeting the damansara utama condo for sale is a proper choice in this case.
When researching lucrative properties, you will come across a wide variety of properties. Our checklist for buying real estate and our additional guides on the following topics offer you orientation.
- Solid house or prefabricated house
- Monument real estate
- Nursing properties
- Vacation properties
- Real estate investment guide
Locations for buying real estate
As an investor, you should not lose the landlord’s perspective: Would you potentially want to live in the property later? Even if the property offers you the best return on paper, it does not attract permanent tenants.
Agree on the purchase price
Once you have found a suitable property such as a damansara utama apartment, it now becomes specific: You have to secure the property financing from your bank and negotiate the final purchase price. Once that’s done, the next step is the notary’s appointment.
Notary appointment & handover
After the notarial purchase contract and the entry in the land register, you are officially the real estate owner. In addition to the purchase price, the payment deadline is also specified in the notary contract. As the owner, you can now start looking for tenants.
At the end of the change of ownership, the property is handed over. You should make sure that you receive the property properly in the agreed condition: Have the rooms been cleared, has any agreed removal of defects been observed?
Residents who refuse to pay and leave the apartment after its devastation in the chaos, the nightmare of landlords are. Here you can read steps that you can use to identify rental nomads in advance and, in the worst case, get rid of them. For more articles like this one, click here.