Top Tips for Real Estate investors in India

The real estate property is still considered as one of the safest long-term investments in India. Real estate has been a hot investment area in spite of the economic and political ups and downs. Individuals either wish to buy a property in Indian real estate market and rent it out straight away or simply choose to live in. Investing in bricks and mortar is a great way to create wealth, but there are certain golden rules mentioned below that need to be considered before taking the dive into investment in India real estate industry.

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Plan your budget

It’s important to have clarity of your financial budget before you investing into real estate property investing. Alternatively, you could also check with your bank to understand how much they can lend you before you begin the look-out for the right properties for you.

Understand the real estate market

Needless to say, it is important to cautiously assess a prospective real estate property buy from as many perspectives as possible, even if it requires the support of particular persons or agents rather than taking an impulsive decision although appearing perfect on the first few glimpses. Some real estate properties might call for minor to moderate renovations or repairs from the seller’s end and therefore, ascertain you take into consideration the end bearer of the costs before pouching into such deals

Understand your Options

Just as temperatures are starting to rise, so are multiple offers on prime real estate properties in some recovering markets. Investing in Indian real estate industry needs a thorough and clean introspection and understanding of options. Each option of the real estate property is associated with the views of different channels, people and venue hence come with their own set of pros and cons; it is therefore recommended to draw comparisons of the boons and banes of the options judiciously to have an amazing deal and experience all together for all time to come.

Look for properties in growth area

The real estate property prices vary with the location and its frills. So it is always considered a wise decision to invest in real estate properties located in areas whose prices are expected to increase with time. But poor choices may come back to haunt you. To note, buying a property close to transport, hospitals, universities and schools makes it more striking as it can easily be given out on rent.

Don’t jump to tag price first

Never hurry to name a price for anything. Rather allow the seller to be the first to quote a price be it a purchase bid or repair cost, as many a time people like you undervalue their property which can leave you astounded.

Inspect the property after circling upon one

Once a real estate property and the corresponding Realtor has been chosen,  take the time to understand the property report to avoid expensive overheads, repairs and other hazards down the track before penning the contract. Make sure you have no surprises and feel free to ask them out verbally or through written letters to the seller. Always watch out for potential problems to avoid such as local issues, land issues, termites, etc. Check and talk to the new neighborhood. Once done, it’s time for cheers!

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