In 2022, over 5 million houses were sold in the US alone. People buy property to live in, resell, rent out, or start a business. It’s important to think about what type of property you want and its location before you start your search. For example, you might want to live in an apartment in downtown Dubai to be close to work and various restaurants or a house in the calm countryside.
Finding the right property is not an easy task, even for people with previous experience. Here are some handy tips for those looking to find real estate worldwide.
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Primary Factors to Consider
You should look into the following factors when searching for a new property:
Location Is Key
The location is the most crucial part of the search. It will determine:
- amount of money you will need to pay for mortgage or rent;
- your time to commute;
- availability of amenities;
- tax costs.
Your answer to these questions will make it easier to decide:
- Is there a well-established network of public transportation?
- Will you be able to bike or walk to places you will need daily?
- Is the neighborhood safe and friendly?
- Are there shops nearby where you can get groceries, clothes, and other necessities regularly?
Look for a location with a fair share of green recreation areas. You might also want to consider whether this location has good schools nearby.
The same goes for budgeting. It’s always smart to check out cost-of-living calculators like Numbeo when trying out different areas on your list. These tools make sure that you can always stay within our budget as a homeowner.
Long-Term Planning
When you’re looking at real estate, think long-term. You want your property to satisfy your current needs possibly being flexible enough for the future. If it’s your home, think about family plans on growing; if you have lots of friends who come over often, make sure there’s enough room in the house. Consider getting a place with a garage or extra space if you have hobbies like woodworking and gardening.
If it’s a commercial property, consider expansion possibilities, compliance, and sustainability.
Remember that in both cases, you can save 60% of energy costs with a property that is well-insulated and has modern appliances.
Explore Different Types of Properties Around the World
You can find property for sale in any country worldwide using the Internet. Here are the categories of most popular real estate:
Residential Properties
If you’re searching for residential properties, your options are:
Single-family homes. This type of property is for one family. They are usually single-story buildings that have one or two bedrooms.
Condominiums. Those are apartments that are usually a part of a large residential building. They can have separate entrances and shared amenities like a gym, pool, or meeting hall. They’re ideal for people who want easy access to various amenities but don’t want any responsibility for maintenance work.
Townhouses. Townhouses are houses that have one or two stories and share walls with neighbouring units, but not common areas. Those who want to buy townhouse in Dubai are in luck since they are the most popular type of property there. They offer more space than apartments but aren’t as expensive as some single-family homes.
Duplexes. Those are building that are usually shared by two families. Each family has its unit with separate kitchens, bedrooms, and bathrooms.
Vacation homes. This type of property people use as seasonal homes for reasons like recreation. They often come with pools in backyards so that guests can swim during the hot summer months.
Those are the five most common residential property types you can find online.
Commercial Properties
If you’re searching for commercial properties, your options are:
- Office buildings. These are commercial properties that can be used for business purposes. The commercial building’s size will vary depending on your business needs. For example, if your company requires lots of room for employees or customers, then there will be more space needed than if all your staff works remotely.
- Retail spaces. Those are usually places for stores like bookshops and supermarkets. Retail stores tend not only to sell products but also provide services such as haircuts or manicures
- Industrial properties. These are usually factory spaces. They are ideal for companies that need to store or manufacture large numbers of goods.
Consider industrial properties that are close enough together so that multiple companies can share resources such as utilities and security guards.
How to Know It’s the One
There are many ways to research your ideal property. You can check out local classifieds such as Craigslist and Kijiji. If possible, try attending open houses where owners invite potential buyers to see everything before making offers.
Consider doing some research using sites like Trulia or Zillow. You should also try contacting property agents. They will help you choose a property that will fit your needs. When you’re ready to make an offer on a place, the agent will help you draft a contract.
Once you’ve found some properties that look promising, make sure to check out their surroundings!
Conclusion
Property search is a complex process that requires time and effort. Deciding on the location is the first step to success. Then, depending on your goal, you’ll also need to know if there are any amenities, schools, shops, or businesses nearby. Follow the tips above and finding the right place will feel like no work at all!
