Caution! Warning! Many of us would have seen these words. Why not? Even a deer would be wary about the survival of lions in its surroundings. Common sense should be clubbed with practical situations before you invest on any residential property in US.

I’ve traced down some key points that has to be kept in mind before you step in to invest in a residential property,

Analyse the market values

This should be the first and foremost thing that you should look out for. Get in touch with trusted real estate experts, interact with them and try to access the gist of information of residential properties in and around your preferred area.

I would suggest you to pull out latest available residential data report from reliable real estate agents besides leading real estate portals. When it comes to online, you can compare the data reports available in various competitive websites and arrive at a better solution.

Be certain about the type of property

Each of you would have different needs and it is extremely pivotal to understand your requirements. Because, once you decide the type of property, it becomes easier to interpret the estimated budget and scope of getting home loan.

You may lease your residential property or rent in future (possible cases) under unavoidable circumstances. Therefore, before choosing the type of property, ensure that you want it for residential purpose and the time period you would inhabit in it.

Find a Maths genius, if you are not one

When I say property, the next immediate word that is closely related with buying a property is money. One should be clever enough to calculate the costs involved in every phase of property buying. Be it a purchase price of a property or the on-going costs such as interest cost, land cost and agent fee, Total cost including Less rent, Annual Shortfall, Less tax deduction and Annual after tax cost, a perfect calculation should do the needed.

Weigh the age of a property

In real estate sector, a constant vigil is necessary until you zero in on any property. By that way, when you go for direct viewing of a property, then you should accompany someone who can inspect the property’s age including its stability, appreciation value and the difference between the cost of actual value and market value.

You can consult a professional building inspector for this purpose or a qualified trade person who can run through all the basic formalities to inspect a property.

In case if you feel that the property is not good enough to invest in, then you can consider the secondary option; you can analyse and forecast the rent besides lease value of the particular property in future.

Investing in residential property in US requires a deep and comprehensive understanding of US real estate sector, because the market may be flexible in certain areas in US, where you can afford a residential property within all your financial constraints. The thing is that you have to run through all the possible ways.