“Move forward when choosing the right real estate property”
Investing in the right real estate property is one of the solid asset for your investment and has the potential growth in year 2020. It is important to look after real estate market and choosing the right real estate property for your investment. So here are some of the factors when choosing the right real estate property for you –
Location is one of the most important factor to consider while choosing the right real estate property. Areas which has the nearest railway stations, metro stations, markets, schools, hospitals, gardens, offices will always give you high rentals and price value. People looking out for investing in real estate projects should have good connectivity and social conditions around the area. Good infrastructure around the city will boost the property rate overtime.
Buying property at good and right price is a part of investment in real estate to achieve higher capital returns. People need to find out all the necessities they require according to their means. Buying property at affordable locations has slow development process and areas that are already developed has the lowest scope for future price appreciation. Property price vary across different locations, where some can be affordable and some can be costly. Over the time prices can have sharp rise in the market. Researching the price trends should be essential for purchasing a property. Property price matters a lot with the location.
Investors should look upon the factors whether choosing the under construction or completed projects to invest in. Ready flats come with benefits of zero risk delays, immediate possession, tax advantage whereas under construction projects can be purchased in lower rates, home loans but has the risks considering the dynamic growth of the project. In an under-construction project, a buyer also has flexibility in payments, with options like constructionlinked plans, subvention schemes, flexible payment plans, etc. RERA has bought a greater transparency and compliance from the developer with a confidence in investing in under construction project. Where RERA has not been implemented, buyer has to check the credentials of the developer before investing in the project.
When buying the right property you should look after some of the basic amenities and markets that fulfill your basic requirements. Investors should evaluate and compare their needs according to the services available in the market and should look after the amenities provided in the property such as a swimming pool, gym, club house, spa, bar, security, elevators etc. You should decide whether certain amenities are essential or avoidable. The choice of amenities, should be evaluated on the basis of personal preferences, requirements, availability, affordability and exclusivity.
Developer should have a good background image in the real estate market, false developer can lead to sell false property to the buyer. Developer should have good track record about their credibility and previous projects. With less experienced builders, buyers may face delay in projects, adds to unnecessary expenditure and the problem is for the long run. Check their financial stability, all the required documentation, track record, completion of project, quotation and company portfolio.
Various localities have serious legal issues for land acquisition or illegal construction. Investors should research with local authorities that if the project or property has all its necessary clearances and check if there is any outstanding litigation round the locality. All the issues should be cleared where it cannot create problem thereafter and in future too.
Security & Local Governance
Security and safety is the first anyone has too look before investing in the property. With different crimes in the locality find out the nearest police station for security purpose. Municipal Corporation is a must in the locality to be considered and the services provided by the government should be given. Look after which Lok Sabha and State Assembly falls under the area.
Amenities are not only enough to make a comfortable living, you should look after the social infrastructure near your property. Hospitals, banks, ATM’s, gardens, markets, schools – colleges should be necessary in your locality to live with perfect location. Social infrastructure impacts your quality of life.
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