You think you can't be in the same frame of mind as the ultra-high-net-worth individuals or UHNWIs when it comes to real estate?
It would surprise you to find out there are practical ideas from the super-rich that you can apply to find the best property to buy.
Realty Times lists 5 UHNWI mindsets that you can follow for that successful real estate investment:
Location makes money
Invest on a popular location since they are less likely to be affected by a market dip. Not only do they rebound more quickly, they could also keep rising through a downturn.
Neighborhoods improve with interest
Where the UHNWI start flocking, expansion follows. UHNWI buyers and developer usually eye older areas with large lots and that are screaming site potential. Investing your money on an upcoming area instead of an already price-inflated location can promise greater returns on investment.
More is better
One thing you should pick from UHNWI is that diversification is a basic principle of investing which very well applies to real estate. If you are thinking about investing on several properties, follow the lead of the ultra-rich and choose those that are outside your current residence area, state, or country.
Safety: Economic and Regulatory Stability
UHNWI search for safety in their investment, and you should take suit. Focus your attention on markets with liquidity like major cities with in-demand neighborhoods. These ultra-rich are looking at real estate at a level beyond just prime or trophy offices and retail space. They are now also looking into investing outside their own country as well as business-critical opportunities like health care and student accommodation.
In light of future trends
Think like the UHNWI and keep yourself abreast of not just the present and the previous real estate trends, but also on what is coming next. Know which markets are on the boom and which ones are just on the bloom. Know where to put your money by watching out for trends that will have profound impact on property markets so you can enjoy the benefits when it reaches market high.
