I’m sure it’s common knowledge to most of us right now that our monthly wages are oftentimes not enough for us to sustain ourselves, not to mention our families. From having to pay rent, to monthly groceries, to expenses such as car loans, student loans, insurance loans and many more. All this requires a lot of money, and most of us are not able to sustain ourselves on our salaries alone. So we come says no surprise when we consider other options to gain an additional income. One such option that we can consider is an investment in property. However, it’s not as simple as it seems. There are many things to consider when investing in property, and if you’re not careful, you could incur more debt onto yourself. Hence it is highly advisable to first understand what type of property you would like to invest in. Listed below are some types of property that you can consider investing in Bukit Jelutong. 

Types of Investments in Property

Residential Investment 

Residential investment includes investments in property labelled as Residential such as terrace houses, condominiums, apartments and many more. These buildings are usually used for living purposes and sometimes also for small home offices. Investors interested in property such as this are able to freely rent out the access space here. However, you will still need to pay charges such as sewerage fee, maintenance fee and many more. Though you gain the advantage where renters would pay you a fixed amount every month, you often encounter problems where said renters would either miss out on payments or damage the space they have rented. This in turn would only incur more charges as you would need to pay to get the damages fixed. 

Commercial Investments

Commercial investments on the other hand are investments in property used for commercial purposes. Such examples include office buildings. There are even several types of office buildings to consider like small office versatile office (SOVO), small office flexible office (SOFO), small office lease office (SOLO), and small office smart office (SOSO). Investing in such buildings are usually more cost-efficient as the price to rent out office buildings to companies are usually higher and more constant where the chances of them moving out are lower. The benefit to this is that chances of the business missing out on payments are lower, thus generating you a permanent income for a certain period of time. 

Retail Investments

Retail investments are similar to commercial investments with the exception of their location and usage. For instance, retail investment properties are typically located in shopping malls and shophouses, where people would rent out their lot to small businesses to conduct their business. Another difference is instead of paying a fixed amount every month to the landlord like what happens in commercial properties, renters of retail properties are typically required to pay a percentage of profit made by them every month.

So, the next time you are looking for options to generate income, try your hand in investing in property.