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The Condominium Investment Checklist


What You Need to Figure Out Before You Can Get that Rental Yield

Buying a condo for investment can be an attractive investment opportunity for buyers as condos are tangible assets and easy to manage and maintain. They also are available in a wide range of prices and locations. It is important to know the right principles as they will ensure your most profitable rental and capital gain before you sign any purchase agreement. Here is a quick guide to the core principles of condominium investment to help determine which condo is the right investment choice for you.

The Investment Checklist:

  1. Research the Market Situation - The key is to acquire facts from a variety of sources. You can start by checking the condominium market using obvious sources such as the internet, where you can look up business outlooks and property forecasts. Another way to ease your way into finding a condo for investment is by following a real estate guru from the large list of property bloggers and podcasters available online. Reputable real estate consultancy firms also produce a periodic market report that can be found on their websites.

  2. Location! Location! Location! - Although this principle is not set in stone, having the right location can be the key to a successful property investment. Visiting the site to carry out a thorough check on the surroundings, the community, the accessibility, the transportation and the amenities available is a necessity. You will gain first-hand experience assessing the pros and cons of the location in which you are planning to make a purchase.
  1. Play the Role of Inspector - Seeing is believing. Once you have decided on your preferred location, search for other projects available nearby and that are within your investment budget to compare the project design, the layout, the facilities and services offered or to be offered in case of an off-plan purchase. Every project has unique selling points. If it is a completed project, check whether the building management has effective building insurance, garbage collection, a water system and pest control. Future landlords should also take note of the occupants to gain better insight into the types of users who will be most likely to rent your future space.
Condo Project for Sale Listings
  1. Check and Compare Prices - Comparing prices is crucial to finding the right condo for investment. Apart from searching on the internet, finding a trusted real estate agency that can provide historical prices of actual transactions and real market data is recommended. Make sure to compare condos for additional fees, annual maintenance costs or any special assessments you may need to pay. Do the math and be thorough with any restrictions, legal documents and additional contracts each project may have.

  2. Timing is Important - Ask yourself the question "Is it the right time to buy the property?" Historically, the property market is cyclical. Explore where we are in the cycle as well as any competition in the market. See if it is a buyer’s or seller’s market. Consider the economy, the financial structure, the property timeline for pre-sales periods and special promotions to make the most of your property investment.

  3. The Rare Unit in the Best Position - Depending on your investment budget, choose a unit in the best position, with an unobstructed view. Generally, higher floors are more popular than lower floors. Units in the east, north, and south of buildings are more popular than those in the west. Corner units and units with wide frontage and more natural light are appealing to most buyers. Units adjacent to lifts, garbage rooms and mechanical rooms are less preferred.

What if you are looking for a long-term investment?

  1. Optimum Size of Unit to Gain Maximum Rental Yield - Whether you are a first-time investor or a seasoned one, keep in mind that a specific range of standard market rentals is applied to each location. Whether you are investing in a one-bedroom or a three-bedroom unit, you must consider how unit sizes are able to generate more positive rental returns than units that do not resonate with the rental market price. For example, a unit with a larger space does not guarantee higher rental yields, but it may be more attractive to rent out.

In a nutshell, you want to make sure that your investment will generate an acceptable rental yield and maximum capital gains over time. Working through each of these principles when looking for a condo for investment will enable you to make the most of your investment budget.

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