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What To Look for When you Purchase a Rental House

The first key to any area is that people need to have a reason to want to live there

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Property

If you find yourself looking to capitalise on the housing market, then this could be one of the best times to get into the real estate game. However, instead of trying to flip a home like many other people, why not lock in your cash flows for a long period of time and still guarantee that your asset will appreciate over many years? If you are thinking about purchasing a rental house, then consider the following items as the top characteristics for a rental property, according to Investopedia.

Amenities

The first key to any area is that people need to have a reason to want to live there. Some people will always be able to find a reason, and certain quirks in buyers will make even the worst characteristics of a home seem appealing. That being said, if you want to cast the widest net when it comes to finding qualified renters, then you need to think about who will be in the area and who will want to be in the area as well.

Amenities can be anything under the sun, but there needs to be a reason to attract buyers in the first place. This could be wildlife, parks, malls, colleges, entertainment, and other such things because the list just keeps on going. It is important to simply remember that when there are things to do and enjoy, that is when you have found an area that others will want to be a part of as well. If you can find investment, then people will come and will want to live in that place.

For rent. Image source: indianpropertylawyers.com
For rent. Image source: indianpropertylawyers.com

Job Market

The general job market is going to be important because you will want to have qualified renters to rent from you. However, you also don’t want to have a flat-lining pool of possible tenants. Instead, you want it to be growing. You also want to have your potential candidates continue to increase their wages so that they can continue to afford to rent from you (and possibly even affording an increase in other dues as well). The key is that you cannot neglect the other side of the equation, which is thinking about where you will be for the long term.

Assuming that you have a twenty or thirty-year mortgage (if not one that is even longer), then you could be locked into that property for a long time. So, instead of going to an area that is volatile with respect to jobs and the future economy, you want to find something that will keep growing and will continue to attract people in the long haul as well. Knowing the job market means you will know if your product will have enough demand to even succeed as a viable business plan in the long run.

Rents

Paying attention to the rents themselves is one key that you cannot forget, according to an article by Business Insider. It isn’t all about making immediate money as you will be able to make it in the long run if you have a solid property. That being said, you also want to be able to know you are not only clearing your mortgage payments and other obligations but that you are also able to afford anything else that comes up.

When you are pricing an area in general then you will also be able to tell a lot more about the area with respect to the class of people and the types of tenants you will be dealing with. That is just one of the reasons that it is so important to consider searching for properties with top tools such as DDProperty when it comes to actually seeking out the best properties.

Schools

While most people think that a school district is nice just for small families, the reality is a strong school district leads to a lot more. Having a strong school district in a general area means that people who live there are able to afford the taxes, the local government runs the area efficiently, and in general there isn’t a lot of volatility or crime. When you think about an area that you want to open a leasing property operation in, that is pretty much the exact summary of where you want to go.

Furthermore, even if the area suffers some lows for a certain period of time, the areas that get hit the hardest are typically the worse off neighbourhoods, which only means that the areas with nicer schools and a more solid economic base will continue to be sought after.

When it is all said and done there are always opportunities out there to open properties and find good investments in the real estate game. What you want to do is to find the places that give you the best chance at being successful and yielding the best profit for the least hassle and stress.

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  • Vrushali Mahajan

    yes, definitely. These are the essentials for people who are deciding to move in the near future.

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Jewar International Airport to be a Growth Catalyst in the Region

Jewar Airport expected to create infra, generate jobs

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Jewar airport
The Jewar international airport is expected to increase the employment rate in the region. (Representational Image). Lifetime Stock

BY ROHIT VAID

The upcoming International Airport at the Jewar township of Greater Noida is expected to be a growth catalyst for the region, say industry analysts, as the project is expected to create urban infrastructure and generate jobs.

Accordingly, experts have predicted the project to not only boost the aviation industry but also a host of other sectors such as real estate, hospitality, tourism, transportation and construction.

“Jewar Airport will provide an impetus to the real estate sector in Noida, Greater Noida and Yamuna Expressway,” JLL India’s Chief Economist Research and REIS Samantak Das told IANS.

“Real estate developers and corporates will be encouraged to invest in commercial real estate in the region. It would lead to a jump in investment and infrastructural development leading to rising in demand for both residential and commercial properties.”

Jewar airport project
Experts have predicted the Jewar international airport project to not only boost the aviation industry but also a host of other sectors. (Representational Image). Lifetime Stock

Additionally, Das pointed out that apart from residential, commercial and residential segment, the demand for logistics and warehousing sector is expected to get a boost by development of Jewar Airport.

“It will also lead to growth in manufacturing and exports sector. Since the region is also near to tourist attractions such as Taj Mahal, Mathura, the tourism sector will also be positively impacted by the development of the airport,” Das said.

ANAROCK Property Consultants’ Vice Chairman Santhosh Kumar, said: “As far as job creation and value addition is concerned, the project will definitely give a major boost in the future.

“But again, this also depends on actual ground implementation of the project. As and when the project progresses, it will help revive the property market in nearby areas like Noida, Greater Noida and Yamuna Expressway.”

Besides, Kumar expects the new airport to increase demand for the housing sector and even lead to an uptick in terms of commercial activities including office spaces and retail.

“More and more office spaces will erupt along the region as rentals will be relatively cheaper than Gurgaon and even Delhi,” he said.

Aviation industry insiders, including airline executives, said that the new airport, once fully developed, will aid in decongesting the Delhi’s IGI Airport.

“It will definitely expand the reach of air services to a larger population base of the NCR region,” an airline management executive told IANS.

Locals of the Jewar township told IANS that they expect more employment opportunities arising out of the airport development.

Jewar international airport
Aviation industry insiderssaid that the new airport, once fully developed, will aid in decongesting the Delhi’s IGI Airport. (Representational Image). Pixabay

“Future generations will be able to reap more employment opportunities as a direct result of the airport development,” Ashok Kumar, a resident of Ranhera village of Jewar township told IANS.

“Employment opportunities in transport and hospitality sectors are being scouted even by the current working generation.”

However, others like Naipal Singh of Rohi village, though supportive of the project is not satisfied with the compensation given by the state government for acquisition of his land parcel for the airport project.

Last month, Zurich Airport International AG was selected as the concessionaire for developing the airport at Jewar.

The company, headquartered in Switzerland, made the highest per-passenger bid for the airport. The Swiss company operates the Zurich Airport, and eight airports in Latin America.

“Under a 40-year concession, the Flughafen Zurich AG will build and manage the new greenfield airport in Jewar. The new airport will be located around 80 km south of Delhi and will be fundamental to accommodate the expected flight traffic growth rates in the National Capital Region,” the company had said.

“The capital investment associated with the first phase is expected to amount to roughly CHF (Swiss francs) 650 million during the construction period of approximately four years. The first phase will be able to accommodate around 12 million passengers per year,” it added.

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The Noida International Airport will come up in a 5,000-hectare area and is estimated to cost around Rs 30,000 crore.

The first phase of the airport will be spread over 1,334 hectares and cost Rs 4,588 crore. It is expected to be completed by 2023. (IANS)