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There are a lot of factors which need to be considered before you invest in real estate. Here are a few to take good note of.
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Investment Property Buying Tips For Beginners!
Best Option… • Seems you have saved enough, for a long time now. Want to gain immediate (within 0-5years) profits out of it. • If yes, investing in real estate is the best option after all. This is a market, which despite of its dynamic nature, definitely can help you get good returns in a short period of time. • However, this is one such investment wherein you need to be patient both before buying a property and while waiting to sell it off. • There are a lot of factors which need to be considered before you invest in real estate.
1. Finances • This is the most important and essentially, the most basic of factors which you need to consider before investing in real estate. • You need to save enough so that you can take care of down payment and also continue paying off the installments every month. • Also if you are investing single handedly buying the property (i.e. without loans) then you also will need to be very sure to have enough to invest at the right place.
2. Long Term Goals • You should be clear about the purpose of your investment. • One has to be very flexible because the real estate consumer market is very dynamic thing. • You should be patient enough to wait for the right time to sell your property. • Improper timings and poor networking can prove to be a less fruitful deal. • Also developing technologies require your adaptation in order to make the most of real estate value.
3. Thorough Research • You should be well aware about the surroundings of the area you invest in. • There are a lot of changes which might come in the area like plans about building of flyovers, new roads, hotels, malls, schools, multiplexes, etc. • You need to foresee these factors before buying a property. • You should also be able to judge the oncoming homebuyers’ needs and understand whether they are matching with your property or not.
4. Infrastructure in The Area • The infrastructural developments proposed by the government in that area also needs to be taken into consideration. • Factors like connectivity and availability of transport, energy, roads, safety, water etc. all needs to be taken into account.
5. Location • If the property’s location is prime then it can motivate a lot of buyers. • For example, if it is at the centre of the city then it becomes easier for the next home buyer to commute from his home to his office or anywhere else. • Remote locations may attract weekend home seekers but not prove to be enough good for regular working class people with families.
6. A Reliable Real Estate Agent • It is an uphill task to find a good real estate agent. • There are very few real estate agents who think about your welfare and comfort. • A good real estate agent is not only trustworthy but also has good knowledge about the market.
7. Guarantee in Returns is a Myth • To expect a guaranteed return is a delinquency because the market changes every moment. • Good returns are for sure, but guarantee on a particular value or commitment is not a wise thing to do. • You might have to face short term risks in order to gain long term profits.
8. Government Policies • You need to be well aware about the government policies which have been implemented and will be implemented in the near future by the government. • It influences the prices and also decision made by buyers. • The taxation policy adapted might be different from what was there previously. • And if the government is promoting innovation and promotion of real estate then it gives a boost in the market.
Conclusion! • So these are the 8 points you need to consider before you invest in any real estate property. • Make sure you bump into the right real estate agent and your worries will vanish. • If you choose to go ahead with City Estate Managementwe will make sure that you never please.
About City Estate Management • City Estate Management is a national real estate services provider built on a foundation of integrity, vision and concrete connection to the ground realities. • With a national network of more than 6 offices and associates thought the NCR, Gujarat, Maharashtra, Rajasthan, Karnataka and West Bengal, City Estate Management offers a broad range of specialist advisory, management and transactional services to client across India. • CEM's backbone, the over 100 City Estate Agents selected for their entrepreneurial spirit, are trained for high standards of client care and deep understanding of marketing, purchase and sale of real estate.
Get in touch.. HEAD OFFICE: F/F,101, Sankalp Square, Drive-In-Road, Memnagar, Ahmedabad - 380052. Gujarat, India. LANDLINE NO: +91 079 2749 1404 / 5 MOBILE NO: +91 84600 14000 WEBSITE: http://www.cityestatemanagement.com/