Dr Kim Heang: If we had the money, should we buy a home or a condo?

Investing in real estate is a smart investment, and those who do business in this sector also have the opportunity to become rich. Workers in other sectors have the opportunity to invest in real estate to increase passive income. Real Estate Purchases are three major units, land,home, condominiums for buyers to live in, buy for profit, and buy for rent.

1 Buy land

Currently, the bulk of land buyers are buying land in potential area in cities and suburbs or provinces. Some people buy their own land from the farmer at a lower price while the buyer buys the plot because he/she can't afford the whole land. For land, its price always rises to a high level, this means that the price of land increases steadily depending on the potential location or the potential for attracting investors to that area.

However, buying land does not have a negative effect, we can buy the land and build the house or we can buy and sell it as well. Those with lower incomes can afford the installment land as a result of some companies facilitating the buyer by offering a variety of installment terms.

Whereas you can afford to buy a lot of land in the suburbs for about three to five years, the value of the property will rise.

2. Buy a house

Most people dream of a beautiful house because the house offers shade. Buying a home helps reduce the cost of renting a house after a purchase, and we can put it back on rent with monthly income. For those of you who have a family now, they think about buying an installment home because the combined income of the couple seems to be quite affordable. Buying an installment house is a good thing because it helps a family to have a better home, increase their family's economy, and reduce their housing rental costs.

After all, buying a house is a good thing, but if we sell it back, it's not as easy to sell as land because the house is involved in construction. Some homes have long been built with outdated materials and obsolete construction quality is getting old, making buyers nervous.

3. Buy Condo

It is noted that most condo buyers are high-income customers who buy a lot of land and buy a lot of home. For today's condo purchases are also popular. And the number of buyers is increasing, as condominiums we can rent to foreigners for higher prices, which increase our income. The condo we bought was very difficult to sell and it wasn't as easy to sell as land; if you want to sell fast, you must sell under market’s price. Because of the evolution, most condominiums are required for foreigner, while fewer locals live because we see that land and houses are growing so fast that locals are turning to buying land and homes instead buying condo.

(This news came from Business-Cambodia.com)