How To Choose The Best Villas In Sri Lanka For Sale!
Buying villas in Sri Lanka for sale is smart a move when considering an investment rental property on the sunny island. Consider these points for a smart buy.
1. Analyse The Condition Of The Sri Lanka Holiday Villa For Sale
Holiday villas in Sri Lanka located on the coast especially make healthy investment properties with high returns, in the long run. Initially, you may have a slow turn-over which is why going for a full fixer-upper will be tough on your budget and time. There are accredited real estate agents in Sri Lanka capable of analysing a property you want to buy; spotting problem areas and some houses which may end up as money pits.
2. Consider The 1% Rule When Buying A Galle Holiday Villa
The 1% rule is a simple math equation where the holiday villa you buy should generate a monthly income of at least 1% of the purchase cost. Evaluate estimated rentals and do the calculations against the cost of the property. Break the rule only if the property is in a fast developing area like the ever popular south coast of Sri Lanka. One reason we at Pearl Sri Lanka have an impressive portfolio of coastal properties for sale in Sri Lanka.
3. Check-Out Property Taxes When Buying Property For Sale In Sri Lanka
Hook up with an established Sri Lanka real estate agent and you won’t be in for any surprises. You need to be aware of what type of property tax you will be charged, is it worth compared to the rent you plan on earning. The good news, investing in Sri Lanka properties is a good deal in comparison to due taxes.
4. Look At Insurance Costs For Your Holiday Villa In Sri Lanka
Insurance costs can be high and you need to investigate the amount you will have to pay for your property. Consider the options and choose the type of insurance you wish to go for – do keep in mind your holiday villa needs the best insurance in order to keep yourself and guests covered.
5. Investigate The Neighbourhoods Of Listed Holiday Villas For Sale In Sri Lanka
Location means a lot in the world of real estate; especially if you are investing in a Sri Lanka holiday home. Make a list of your requirements such as beach proximity, privacy, noise pollution etc. in order to make sure you’re investing within the right neighbourhood which will draw more customers and enhance your property.
You may be interested in our fine properties, carefully selected locations that spell island vibes the moment you step in; let’s talk and get your lucrative investment property started!