Investing in real estate is a great way to diversify your investment portfolio. Real estate is a tangible solid asset that is a great addition to your other Investments which might include stocks.

So let’s look at some of the reasons why you should invest in real estate today

Rental property

Purchasing a condo at Eighty Seven Park as an investment could provide you with some much-needed income streams if you convert it to a rental property. In this case, you buy it and rent it out in its entirety. Your break-even point will be calculated by adding the monthly mortgage expense, the condo fees, taxes, and your markup and then setting this figure as the rent.

So your tenant gets to live in a luxurious condo at Eighty Seven Park, and the rent they pay you offsets the expenses due for that property and leaves you with a profit.

So unlike a case where you are renting out a single housing unit, renting out a condo at Eighty Seven Park has the advantages that all the exterior maintenance work is carried out by the Homeowners Association. So you will not have to put on a tool belt and do repairs for your tenant.

As far as interior repairs, you can always get a professional management company to deal with that.

Flipping property

An alternative to purchasing new condos like Eighty Seven Park is buying an underpriced home that needs renovation before it’s occupation, carrying out the required renovation and then flipping it in the market. If the market is in demand for housing then flipping is a great idea, contrary to that you might run into cash-flow problems because you need to keep on making mortgage payments and yet the house is not occupied.

So flipping of houses requires individuals who have a lot of experience in this field and who also have enough capital to keep up with mortgage payments without running into cash flow problems.

Renting out rooms

The condo units at Eighty Seven Park have multiple bedrooms. So if you’re testing out investing in real estate you can rent part of your home. You don’t necessarily need to have a long-term arrangement with the renter. We advise that you go through a site like Airbnb that will pre-screen potential renters and guarantee against damages.

Real estate provides high Returns

With the population increase on the up-and-up, there will always be demand for good housing. High-end properties like Eighty Seven Park are always in great demand and are way easier to sell than the mid-tier or low-tier houses because the well-funded potential buyers for these properties know exactly what they want and are willing to pay for it.

Real estate always has a value

Unlike stocks, the value of an investment in real estate can never plunge to zero. If the housing market dips as it did in 2007, the patient investor can simply hold onto the housing and wait for the market to pick up again. So investing in Eighty Seven Park will provide you with high-value tangible assets that will always have a significant amount of equity attached to it.

Real estate always appreciate in value over time

If you study real estate data over a long period of time, you will cumulatively conclude that its value appreciates the longer you hold on to it. Some buyers might be put off by fluctuations like the one in 2007. But the real estate market is very resilient and always bounces back. So what you pay for a condo Eighty Seven Park today will be way less than what you can sell it for years to come. So you will get your profit.

Tax deductions from investing in Real Estate

Mortgage interest is considered a deductible expense from your taxes other expenses include the condo fees, property taxes, and insurance. All of these expenses reduce the amount of money you owe the government as taxes.

You can generate passive income for your Golden Years

Rental properties will provide you with passive income with only minor deductions for things like maintenance expenses. So you can have money coming in without having to actively work for it. So by purchasing a condo at Eighty Seven Park, you’ll get a great rental property that will provide you with this income.

If you’re planning a new construction like Eighty Seven Park, one of the things you might want to take into consideration at the pre-construction phase is making your project as friendly to the environment as possible.

The term eco-friendly refers to construction techniques that leave as smaller a footprint on the environment as possible. It involves things like protecting our environment and conserving our natural resources.

Many people would like to join the effort of conserving our environment but don’t know just how to start. At Eighty Seven Park we believe that this effort begins by small steps like consuming less water, reducing consumption of resources like natural gas for heating your condominium cooking, making your building more efficient by using insulation to prevent heat loss and excessive running of the HVAC, bringing amenities like sports facilities as close to the residents as possible to reduces the number of driving residents do to these facilities and hence reducing consumption of fuel.

At Eighty Seven Park, we believe that we all have our small part to play in creating a sustainable ecology. Our community is committed to the efficient utilization and preservation of natural resources by encouraging eco-friendly options like community spaces and green construction techniques. Let us now look at some of the five eco-friendly add-ons you can consider for a custom new construction.

Insulating the roof with reflective materials

It is now standard practice to insulate the walls, floors, and the rafters of the roof. These insulating materials prevent the transfer of heat between the residence and the outside environment. So they prevent unwanted heat gain and heat loss.

Another form of insulation that is gaining more traction in modern housing is the use of reflective materials on the roof. Particularly in warmer climates like where Eighty Seven Park is located, one of the major ways of preventing your house from heating up from the sun’s rays is by reflecting the heat away.

A reflective roof surface will deflect the heat away and help keep your house cool. What this means for you is that you don’t have to run your HVAC to air condition your house. This translates to lower energy consumption for you and also means that the utility company uses less natural resources to provide you with energy.

The lower the energy consumption of your utility company the more you’re participating in conserving your environment.

Lo-Flow toilets

The luxury condominiums at Eighty Seven Park typically provide bathrooms in all the bedrooms. So for a 3-bedroom condo, the residence would have three bathrooms. Part of making this building eco-friendly is ensuring that the facilities in these bathrooms conserve bathing water and flushing water. Lo-Flow toilets keep your toilet clean and fresh while flushing with an optimal volume of water.

Selective cooling and heating of rooms

Large luxury condominiums like Eighty Seven Park can consume a lot of energy heating or cooling rooms that are not in use. When you install a smart HVAC system, you can specify which rooms should be air-conditioned and at which times of the day. So if its night time, it definitely doesn’t make sense to be heating up the kitchen and the living room while you’re in bed sleeping. This action goes a long way in conserving the environment.

Low VOC interiors

Volatile organic compounds, (VOC) that are contained in paints are widely considered harmful to the environment. These solvents are widely attributed with causing headaches nausea, and nasal irritation to occupants of homes. So when working on any construction it is advisable to only select materials that are rated as low-VOC because they are less harmful to the environment.

Use renewable sources of energy

Solar energy is one of the most viable forms of renewable energy. It is easy to harvest using solar panels and easier to install when planned for in the pre-construction stage than it is to retrofit it on an existing structure.

So if you’re planning to buy property at Eighty Seven Park one of the add-ons you can request from the developer is to add solar power harnessing capability.

The climate in Miami is ideal for solar power harnessing because sunshine is always in abundance. Using renewable energy sources like solar reduces your dependence on electric power from the grid and natural gas or propane. Because natural gas and propane are exhaustible, the more you use renewable energy the more you conserve our limited natural gas resources.

If you’re purchasing new construction, it’s easy to presume that a home inspection isn’t essential. After all, the home’s constructed from scratch and tailored to your precise likings and needs. Unfortunately, new construction can have defects, at times major ones.

Keep in mind that a local inspection isn’t an assurance that everything has been constructed accordingly. It simply verifies the fulfillment of some minimum standards. While an inspection might seem like an additional cost, here’s why it’s necessary if you’re looking to invest in Eighty Seven Park condos for sale.

Home Inspection

A home inspection is a process in which a third party assesses a home’s structure, appliances, and other significant features. For instance, if you wish to invest in Eighty Seven Park condos for sale, the inspector will assess the property, issue a report on his findings, and you can ask the builder to repair any issues before closing on the home.

Essentially, inspections ensure you obtain a hazard-free and safe property while ensuring that you make a good investment. With new construction, experts recommend you have 2-3 property inspections. The first one is a pre-pour or foundation inspection and takes place just before the pouring of the foundation.

This one makes sure that excavation and grading of the site have occurred properly. Moreover, it ensures that footing and anchors are in place and sufficiently placed. In case the inspector discovers problems on this round, the builder can make modifications before the pouring of the foundation.

The second inspection involves pre-drywall or framing inspection. This one occurs after the construction of the entire frame. However, it permits the inspector to ensure the posts, beams, and other structural components are installed properly.

The last inspection is the one you’d have on a resale property, ensuring it’s safe for occupancy and finished per building standards. The builder should remedy whatever your inspector finds during an inspection.

Fortunately, you don’t have to worry about Eighty Seven Park pre construction. Our residences meet high standards and adhere to the relevant building codes. You can be confident that your investment is worth it.

Why You Should Consider an Inspection

New constructions could have problems

New construction might appear as if it’s in perfect condition. However, nobody has lived in it to know whether the appliances are functioning properly.

It’s easy to assume that new systems and appliances work. This isn’t always the case. After all, you’ve probably bought a new item that didn’t function properly. The same applies to homes. When you purchase a new home, you’ll be the first to use or test any of the systems or establish whether the basement floods during heavy rains. By contrast, older homes might have wear and tear and the law requires owners to reveal any known flaws.

Municipal inspections aren’t similar to home inspections

The role of municipal inspectors is checking whether compliance is evident when it comes to building codes. After all, building codes are the minimum standards. While most municipal inspectors do their best, aspects beyond their control make the inspections insufficient.

Repairs can take place before you move in

You need to deal with the noise and dust from repairs or the inconvenience of staying home while repairs are taking place in your home. While some minor touch-ups will be necessary after you move in, you’ll want the builder to repair any major repairs immediately.

Typical Issues with New Construction

In existing homes, inspectors generally look for problems that emerge due to age. HVAC function, roofing condition, and termites are some of the things they examine. When it comes to new construction, inspectors must examine the installation and construction of the home. Some of the areas they look into include:

Construction

Inspectors will watch for any cut corners or overlooked items in the home’s construction. Areas such as insulation and ductwork can potentially miss in the home. Remember, some contractors are merely interested in seeing the fast completion of the home instead of quality.

At Eighty Seven Park, investors can relax knowing that the residents are under a reputable builder who takes pride in building quality homes.

Materials

Materials sustain damage for various reasons during construction. Some materials could face exposure to the elements for certain periods. Other materials might have undergone improper storage, installation, and handling. Flooring materials, pipes, siding, and tiles are likely to be defective during inspections.

While it’s easy to assume that new construction doesn’t require an inspection, the truth is that an inspection permits you to be proactive regarding your purchase.