Commercial or residential property each have their own set of advantages, making it difficult to choose between them. Each investment has its own set of benefits and drawbacks that make life easier for each individual. The decision entirely depends on the investor’s willingness to risk their hard-earned money on a specific asset.
In this blog, we will attempt to understand the benefits of both types of property so that you can make an informed decision from the options presented.
Residential Property
A residential property can be 1 to 4 units that consist of:
- Single-family homes
- Apartments
- Duplex
- Triplex
- Quadraplex
- Town homes
- Condominiums
- Individual mobile homes
The majority of families and individuals either buy or rent such properties. To get the best return on a residential property in gurgaon, you must find tenants to live in the property and apartment so that they can pay you the rent every month. When looking for tenants for your residential property, you must be mindful of the tenant’s quality, income, family type, and other background information to ensure that they will pay your rent on time and take care of your apartment. Having tenants in your apartment for an extended period will relieve some of your stress because you won’t have to worry about dander.
Commercial Property
A commercial real estate property consists of 1 or 5 more units mainly used for business purposes, which includes.
- Retail
- Office buildings
- Multifamily buildings
- Hotels
- Manufacturing houses
- Warehouses
- Apartment complexes
- Vacant land
- These types of lands and buildings will be leased to gain exponential growth and benefits. Lease agreements for commercial platforms are more complicated.
Looking for tenants in commercial buildings will allow you to last longer than you think. Because of their standard and name in the industry, a tenant who leases your property will last for more than 10 to 15 years. To that end, they will maintain your property as much as possible because they want your residential property to reflect their market position.
Because they intend to stay at your property for an extended time, they will make every effort to pay all of their bills on time, even if you remind them.
A bonus point is that by the time you are already gaining so much from the leased commercial property in gurgaon, the value of your real estate property will have increased as well. Every year, commercial property will provide you with an annual return of 8 to 10%. Regardless of market fluctuations, a real estate property’s price will always rise compared to any other type of investment, particularly commercials.
Conclusion
100acress encourages you to make a wise decision and choose a type of property that suits your requirements!
Also read our Another Blog- 5 Tips of Investing in Commercial Property in Gurgaon