If you have ever
thought of this question, then you are at the threshold
of a big decision. One that will significantly affect the direction of your life.
of a big decision. One that will significantly affect the direction of your life.
FACTORS TO CONSIDER
BEFORE THE MOVE
1.
Is the house for residential or
commercial purpose? If it is for a commercial purpose, there is the tendency
that it will begin generating revenue once built. Also, will it be located in a
strategic position?
This will affect how quickly and how much it will generate
revenue. On the other hand, a residential house will not generate funds to
service or perhaps pay back the loan. Therefore, it will be a poor decision to
secure a loan for a residential building. However, if it is purely commercial
structure, then you need to stretch your imagination in these areas: how long will it take to recover your
capital? Will the generated revenue be able to pay the interest and the
capital?
2.
The interest rate: most banks’ interest
rate is high. You don’t want to put your neck into a noose of debt that will
drag you down. So be careful.
3.
The cost of building is high: work out
your budget perfectly and know the exact amount to start and finish the
project. Otherwise you might start and get stuck on the way. Don’t let this
happen to you.
THE BOTTOM LINE
The answer to the
question at the outset depends on a thoughtful consideration of the factors
considered. You can also rely on your business acumen and experience to take a
decision.
WARNING: if you are
inexperienced in this field, please it will be in your best interest not to
venture into it. Call 07031384722 or 07054107283 for a consultation. View properties listed for sale here: www.facebook.com/propertytycoons
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