If you are
an amateur investor, there is chance of your committing the gravest
investment mistakes. Everyone is attracted by the thought of buying
the property and then selling it for a higher cost. The task is
however not that easy. There are some mistakes you need to avoid
while going for London
Residential
Property
Development.
Whether you are making an Overseas
Property
investment or
investing in the same country you reside, a property cannot be bought
in the wrong area. Developers make the mistake of buying a property
in the wrong area. They just assume that the area is upcoming and
thus good returns are confirmed. You must avoid doing so.
Secondly,
an investor will need to finance the property somehow. So, avoid the
mistake of paying heavy taxes while financing your upcoming property.
Do not borrow an amount which you cannot afford. Thirdly, make sure
you choose the best builder who has an outstanding track record. Make
sure there is no hidden cost and the builder signs the fixed price
contract.
While developing residential
property, do not choose cheap quality materials. It may appear
temping to use low grade products but avoid doing so. Do not commit
the mistake of designing the home in your own way. Give freedom to
the buyers and let them choose the design element.
