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Posted by Admin on August, 12, 2020
Investing in real estate can be beneficial as it can give good returns. However, you must know when, where, and how to invest in the property. Investment in property usually brings decent and steady capital appreciation which is good for profitable returns. Investing in properties also helps you in generating short-term income. You can rent out your property and earn monthly income through that property. However, there are certain things that you need to be kept in mind for investment in real estate in India.
How Much Can you Afford to Invest?
Properties are available at different prices. Some are cheap while others are expensive. Hence, you need to decide what is your budget and how much you would like to spend on the property. Take everything into consideration such as your income, the EMI that you have to pay per month, your capability to put the initial amount, etc. Make sure that you calculate everything properly before you invest in a property.
What are the Criteria for Property Selection?
If you want to invest in a property, then you have to make sure that it is good. It should have a good project plan and it should be worth your money. The property should be built in an open area. This means that the property should have enough open space inside and outside. It is also necessary that the property that you are selecting is worth the money you are paying for. If you are paying for a property that will not yield a profit in the future, then it is not worth investing in.
You also make sure that you consider the location of the property. Another criterion is how accessible the necessities are near the property? Compare the pros and cons of the property before you finalise on the deal.
Get Information from your Agent
Get as much information as you can from your property dealer or agent. Ask him for how long the property has been in the market to get an idea of the reason why it is not been sold. Try to go for a brand-new property or a property that had two to three owners in the past. You can also look for a property that is being sold by the first owner.
Get your Finances Straight
You must keep your finances straight. Discuss with the seller or the agent the breakup of the payment that is to be made for the property. Make sure that you have everything in written and all clauses are in place and are also clear. Also, if the builder has a pre-approved lender, then make sure you make your choice whether or not you want to use the lender. If the building in work-in-progress and is getting delayed, then ensure that you are getting compensated for it.
Investing in properties in India is a good idea if you have all your strategies in place. Make your decisions and choices are made wisely so that you are getting a property that is worth your money.
This entry was posted on August, 12, 2020 at 18 : 28 pm and is filed under Buying Property. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response from your own site.