The first thing that one should take into consideration is one’s source of income. Buying a house means getting huge amount as loan and repaying it over a long time. One must have a steady income to pay it back. Any break in employment or irregular supply of money can create problems and in case of non-repayment of loan, not only will there be penalties, but there will also be a bad effect on the credit report of a person. This will mean he will have trouble getting loans in future even if he becomes solvent enough. In such cases it is better to rent a house.

If a person already has a bad credit report, then it is better not to go for a loan under difficult terms and conditions but to wait till the credit report improves. In such conditions it is better to stay in a rented home and get a house when getting a loan becomes easier. Similarly, a person already having a loan to pay back may not be considered for further loan and then one might have to settle for rented house.

Finally, consider what you will have to fork out for maintenance of property. There are various taxes and fees that the owner needs to pay. The repairs and all similar matters need to be taken care of by the owner and not the tenant. These all add up to some amount that one should have even after paying off the mortgage. If that amount is available and does not tax your daily life then it is good to own a house. But if that is not the case then it is better to rent before such a condition arrives.

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Cities like Tokyo, Mumbai and Hong Kong are today overcrowded with thousands of corporate companies. It is almost impossible for any company to add even a few square feet of area to undertake expansion and accommodate their growing staffs and office equipments. While some companies are adding to the floors others are forced to move to other new locations. These new locations again experience surge in real estate prices within a short span of time. Thus a vicious cycle continues. This is working as a major impediment for new corporate companies to establish offices in prime locations.

Since land is a limited resource, real estate crisis will only aggravate in the long run. Therefore there should be some efforts from the government and land authorities to clearly demarcate areas exclusively for corporate companies. These areas should be completely commercially areas and adequate provisions should be made to accommodate offices for several years whenever the demand arise.

Well, Condo, is a common term in real estate specially in US, Canada and Australia. If you’ve decided to buy a condo, take the plunge and go for it. For a first time home buyer and someone who cannot afford a single family home, condos are by far the best options in the real estate scenario.. Here are five things you should keep in mind before you opt for one:

Ø Select the area you want to stay: The first part in the investment scheme is to select the area you want to stay. For this you must make a good market analysis of the area, study the price range and the fluctuations at present and check if the condo was held by any previous buyer.

Ø Make a wise choice: Condos come with loads of facilities like swimming pools, sauna etc. These are further included in the cost and monthly association fees of the condo. So, make a wise deal. If you are not interested in swimming you will be paying some extra bucks on a regular basis.

Ø Look before you Leap: Before you buy, make rounds through several other condos to get an idea about the availabilities as well as the costs. A good option is to talk to the residents living in a condo and ask them about the facilities they receive, the maintenance required, the storage, security, parking and other amenities. Check whether it’s professionally managed or it is the owner who manages.

Ø A lawyer is the best friend: Rope in a lawyer for the task, and ask him to go through the association laws. Above all, you can also get a summary of the association’s policy and check the certificate of insurance. You can even ask the tenants about their experiences.

Before you finalize the deal, check in all the requisite details and make a move. All the best!

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