Renting a property is it worth it? | Gurgaon | Noida | Delhi NCR
Do you want to buy a property? Or do you prefer to rent? You may not decide whether to live in a house or an apartment, or you have no idea how much it will cost. Perhaps the best thing for you is to remodel your current home, or renovations are not your thing. These decisions are crucial in your life and at Interior A to Z we want to help you.
Let’s start with the basics:
Renting a property is it worth it?
Rent versus buy is a dilemma that many have. Venezuela is a hyperinflationary country, the economy behaves in an atrocious way and this greatly affects the real estate market. Rent and home prices are literally through the roof, but the best time to act is “now”, as the cost or rent of a property rises considerably in just a couple of months.
In this sense, renting a property is worth it because the amount of the rent is frozen during the period established in the contract. The problem comes at the time of renovation, in which the rent is adjusted to the new market values. Ideal: establish a fairly long first term in the contract. If you decide to rent a home in Venezuela, Interior A to Z recommends that you get advice from a serious and well-known real estate agency.
Worksheets:
It is important that even before starting the process everything is in writing and you have to fill out the necessary forms, especially the so-called Residential Lease Application – Natural Person: an application form to rent an apartment, house, annex or townhouse by a person or family and not an association or company.
The variables to determine the price are:
– Age of construction.
– Environments
– Services (laundry, Internet / Wifi, appliances)
– Outdoors (trees, BBQ areas, swimming pool, etc.)
Buy a property in Venezuela
In Venezuela buying a house or apartment has been a bit difficult in recent years.
The economic and hyperinflationary crisis has created an interesting market for investors. Why? The purchase of a property today means an investment as it appreciates every day, and after its sale in one or two years, sometimes up to 600% of the initial value is recovered.
General requirements for purchase:
Tax Information Registry.
Municipal Tax Payment.
Copy of identity card.
Important: If you buy the property as a legal person (that is, in the name of a company or organization) you must include the minutes, the constituent document and the Identity Card who legally represents the company.
Build a house in Venezuela
Venezuela is a country that in recent decades has been built a lot and constantly. Particularly apartment buildings in new urban areas that have tripled the size of cities. That is why it is very common for Venezuelans to live in suburbs instead of city centers.
An interesting piece of information is the pre-sale model, or “buy flat”. Basically, a construction company plans a real estate project and sells the housing units before construction in order to finance the project. The owner pays a fixed monthly fee and upon completion of the home, the market value is much higher than the money he invested.
Problem: The materials crisis that has affected the country makes it almost impossible to build because the price of basic materials such as concrete has skyrocketed or materials are not available. Building a house in a country with a shortage of building materials is a tough challenge, but not an impossible dream.
Types of housing in Venezuela. Which is the best for me?
Apartments : It is the type of housing that has become more popular. Cities in Venezuela have grown vertically rapidly in recent years. There are many options, from minimal size housing blocks to luxury apartments.
Semi-detached houses : These are also called in Venezuela townhouses and are particularly attractive in the market. It is a relatively new concept in the country and the interesting thing is that they are built “enclosed” in small complexes or urbanizations where you can feel protected. In addition, their designs are usually attractive because they are a model generated in contemporary times in the country.
Fincas-Haciendas: These are the so-called country houses or rural houses. Not many Venezuelans live in the countryside as most have moved to the cities, but having a farm as a secondary home is very common. The same goes for the beach apartments.
Casas: The option that seems to be the most obvious in any country but not in the Venezuelan case. The individual purchase of land in an urban area for the construction of a single-family home is rare. The reason: criminality. The Venezuelan does not feel protected in one and for this reason they resort to apartments or townhouses in gated communities.
Prefabricated houses: In Venezuela they are not very popular due to the collective belief that it is of low quality and resistance. However, many houses built with more traditional systems include prefabricated modular pieces that speed up the construction process and lower costs. The same happens with wooden houses, whose construction is very interesting and advantageous but is not very well seen in the eyes of Venezuelans, who feel more comfortable using concrete or reinforced concrete.
How to design a house?
The design must be left to the designers. That is, a professional trained and licensed to design is the only person indicated to do so, since it is the refuge that protects us and a small structural error in calculation (for example) can affect or compromise our lives. But you can (and should) participate in the design of your home, because it is your home and it must meet your needs. At Interior A to Z we make it very easy for you: make your free consultation and we will contact you with the right expert for your project.
How can I plan it?
To plan any restoration, renovation or construction of a home, literally everything must be taken into account. Starting from the needs, because the purpose of design is always to solve a problem. In addition, you and the architect must take into account both the climate, the materials, the economic availability and even if there is part of the existing structure with some historical value that by law must be respected or request permission from the authorities before modifying it.
The maintenance of a property.
A very important factor that many people forget. For any design decision you make, you should think about maintenance, as this is an expense that will last forever once the home is completed. Example: If you decide that your house has a glass roof, think how cumbersome it would be to maintain it. At Interior A to Z we recommend that you never sacrifice practicality.
Renting a property is it worth it? | Gurgaon | Noida | Delhi NCR
