When it comes to investment properties, transactions often take place online, meaning you don’t even have to view your “seaside house” in person.
“Some of our clients buy real estate in Dubai, but have never been there,” says Galina Ponomareva. And this is normal: the main factors when choosing are profitability, frequency of rental commission payments, location, fame of the developer, number of floors.
But, if you still plan on housing for yourself, it is not customary to take it “without looking”, and other parameters come into play: they evaluate the location, renovation, furniture. And the region itself needs to be known better. “It might even be worth living there for a couple of months,” the expert advises. “Sometimes it happens that, for example, the climate gives a person a gap between expectation and reality.” And, in any case, when choosing a “house by the sea”, I would pay attention to the possibility of its subsequent resale.”
As with any investment, emotional impulses can lead to poor choices.
“A very large part of real estate is now being sold on emotions,” comments Galina Ponomareva. “There are many triggers now that can influence making a quick decision.”
But first of all, you should ask yourself an important question: for what purpose are you buying real estate. The options may be different:
- save money;
- transfer money from the ruble zone to the hard currency zone;
- make money on real estate growth;
- earn money on rent;
- move yourself;
- obtain a residence permit through purchase.
And only by giving yourself a clear answer, you can analyze the market and find the best solution.
There is no need to rush into choosing an agent; there are many pitfalls here, notes Galina Ponomareva: “Brokers initially know all the shortcomings of a particular property. But some people sell “just to sell,” while others are committed to long-term relationships and will be looking for a decent option. Therefore, it is always better to ask for recommendations. For example, BCS has a pool of partners with offices in Russia and other countries; they value cooperation with our company very much and try very hard for our clients. They make every effort to make the transaction comfortable, and also try to find the best price or negotiate “perks” for clients – for example, in the form of free accommodation and flights.”