Real estate is the largest asset class in many countries, with a higher share of people’s wealth going into it than into other assets. This is partly the result of the perceived simplicity of this asset: everyone lives in a home and has a sense of understanding of residential properties, and some high net-worth individuals (HNIs) also feel comfortable with commercial property investments. While real estate seems to check all the right boxes, not all real estate investors are equally lucky in the results of their property investments- some are able to speak about their huge real estate profits, while others have less happy stories to tell. Here are seven ways in which a property investor can minimize the risk quotient of a real estate investment to ensure that it yields predictably good returns.
1. Learn About the Real Estate Market in Multiple Cities
Most of us invest in real estate quite differently from how we invest in anything else. If you were buying a stock, you would not look at buying the shares only of companies located in your city or your part of the city. Similarly, you would not open a bank account only in a bank headquartered in your city or buy insurance only from a local insurance company.
But when it comes to the biggest investment of all – real estate – we all tend to become highly parochial and prefer to invest close to where we live. In the past, this made sense as it was hard to access information about the real estate market in other cities, and a local investment was often the only one that the investor knew enough about to do prudently.
In today’s world of digital information, it only takes a little bit of extra effort to learn about other markets and cities and get a broad perspective of the overall market before investing in property. The reason this is important is that real estate is a highly cyclical industry where the right timing and location of one’s investments can significantly reduce risks and increase returns. A broad perspective will allow you to avoid errors both with respect to when to invest and where to invest.
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