What should you Know before you Venture in Real Estate?

 

Real estate might be a booming industry today but it is more than making a few buildings around the city. It not only requires a lot of careful planning but also a degree of expertise and a power to understand one’s own intuition as well. One has to be meticulous about every detail and there is no excuse if the building you sold collapses. It is extremely important to look into all the matters of the building and be convinced oneself that it is flawless, before it is showcased to the buyers. In a busy city like Melbourne, there are lots of rules and regulations to be reckoned with and each and every day. Here some things that one needs to oversee .

 

Before venturing into real estate, try to see if you are comfortable going through the following as an Accrue estate agent:

 

·         Meticulously follow the plot and see check for loopholes in them. Have there been any legal disputes regarding the property before? What about the land on which the property is build? What is the water condition and is the terrain going to have any adverse effect. Consult a land surveyor if you have to.

 

·         What about the general location of the building or plot of land? Is it well connected? What amenities does it have and what amenities is it going to have in future? In what ways does the plot of land fare better or worse than the plots in the adjoining areas?

 

·         If there is a property to be built on the land, is commercial property or residential property going to be a better option? What is the usual social level of the people who would buy a property there and is the price going to suit that income group? Will the buyers be able to afford the house or the apartment complex or the office areas?

 

·         If there are any legal disputes, how much time would it take to solve them? Who are the people who would help you solve the case quickly in a legally transparent manner? Is there is any flaw in the plan of the building and how is it going to be redone by the architect.

 

·         During construction, is heavy machinery to be used and if yes, is the staff and workers certified enough to handle them? Do all the workers have insurance in case of an injury in the site? What other facilities are being offered to the building workers?

 

 

It might seem like all of these aspects do not come under the direct supervision of an Accrue estate agent and mostly you have to think about the sale of the house. But once in real estate, it is always advisable to have a minute idea regarding all these aspects because in the long run it will help you differentiate between a good and lucrative property from a bad and risky one, thus increasing your chances of success in the industry manifold.