• Choosing a distinctive and vital area or location when buying a property

Choosing a distinctive and vital area or location when buying a property is one of the basic rules for successful real estate investment. Before buying, every person should look for a distinctive and vital real estate site in order to reap ample profit in his investment. In order to be a successful and profitable investor, you must be fully aware of every step you take. The location of the real estate has a large and effective role in its price and future investment. Abstract of the topic The right drug in the right area. You should choose a property close to the city center. The property should be close to public transportation and the marketing center. These factors affect the price of the property, thus making it a successful and profitable investment.

• The type of property to be purchased or invested must be determined

The type of property to be bought or invested must be determined in terms of whether it is new or old. There are important rules in real estate investing. One of the most important rules for real estate investment is the location and purchase of a new property. According to statistics, real estate prices increase annually by a certain rate. The annual increase in the price of the property depends on its location and the date of its construction. If the property is new, the profit rate in it will be large. Try as possible either to buy a property in a great location or buy a property at the cheapest prices in areas adjacent to the luxury real estate. In order to reap an enormous profit from real estate investment, you must follow the saying site, site, and then location.

• Determine a specific budget to purchase a suitable property

Setting a specific budget to buy a suitable property saves you a lot of time and effort. The investor must be aware of every step he takes when buying a property, and for this he must set a specific budget. Real estate prices in Erbil vary from one region to another. Setting a budget to buy a property saves us a lot of time.

• Determine the main objective of the purchase

Determining the main objective of the purchase helps us choose the right property. Before starting to buy a property, some important points must be defined, including the objective of the purchase. The goal of buying a property differs from one person to another. Some of us buy for the purpose of housing, and some of us buy for the purpose of investment. If the aim of the purchase is to invest, the property must be in a vital location, close to transportation and shopping centers. If the purpose of the purchase is housing, the property must be close to schools and universities and away from the noise of the city. These reasons differ from one person to another according to his desire.

• Consult a real estate agency before purchasing

Consulting a real estate agency before purchasing is helpful in choosing the right property. Buying a property in the Kurdistan region is not difficult. There are many bodies specialized in real estate investment in the Kurdistan region. A trusted authority should be chosen to consult them before purchasing. Consulting a competent authority guarantees us a very suitable and profitable real estate choice. Or you can search by friends and acquaintances. Some questions may be directed to the competent authorities or to acquaintances. Among these questions: What is the average prices in the region? What will the region be like in the future? Will the region witness an urban development? And other questions about the age of the building and the service facilities in the area.

• Live in the area where you will buy your property

Live in the area where you will buy your property to avoid making mistakes. Your residence in the area in which you will buy it provides you with a lot of time to choose the right property. Living in the area We are fully aware of the future of the area and the service facilities in it. The correct thing is when buying an investment or residential property.

• Buying real estate that can get you an excellent rental return

Buying real estate that can get you an excellent rental return. In the old points we mentioned, you must specify the goal of purchasing the property. Here we will know the importance of defining the goal of the purchase. The drug must be studied in all its aspects properly and well. If you have a bad side in the property, this does not mean that we cancel the purchase, but rather negotiate the price. If we do a comprehensive study of the average rental income in the area, this helps us make a lot of profit. This study includes all types of taxes that are paid upon transfer of ownership, or the so-called title deed fees. There are also other expenses that must be considered. New and modern construction brings in a lot of tenants and that means a lot of profit.

• Buying a property close to the service facilities

Buying a property close to the service facilities guarantees us a lot of profit. Service facilities such as transportation, shopping centers and schools play an important role in real estate investment. In addition to the service facilities that have been mentioned, we add shops. These service facilities play a big role in determining the daily or monthly rent. Where if the service facilities are available, the turnout for the property will be very good.

• Focus on managing the property after purchasing it

Focusing on managing the property after purchasing it is one of the important pillars of real estate investment. Real estate management lies in re-maintaining the property from time to time in order to bring in tenants. The drug must be maintained from time to time because this affects in one way or another the drug in the future. Investors who intend to buy real estate for investment must focus on managing the property in order to reap them a huge profit. The real estate can be managed by a person who is specialized in the field, or by the owner of the property himself.