An investment in real estate should not be a causal decision as it is a long-term investment and requires a lot of careful planning. Some important factors to be considered if you invest in real-estate for good returns in future:-
- Having Adequate Funds: Most buyers do not follow this. Buyers before buying any property should definitely have a back-up of 40-45% of the total property value to not only to meet the initial payments but also for sudden medical crisis. Apart from this, buyers should preferably go for bank loan as the Financial Institutions will check the legal issues if any involved in the property like NOC, ownership, EC, patta etc.
- Identifying the right place: This is a very difficult task for the buyers as Realtors', Flat / Villa Promoters' / Agents' verbal assurances / assumptions cannot always be relied. Buyers should thoroughly research whether the location has / will have all residential enclaves nearby, commercial spaces like offices, malls, schools, hospitals, hotels & transport facilities.
- Antecedent Verification About Realtors: Buyers should thoroughly check the track records of the developers like searching reviews in Google, past performance, plan approvals from the concerned govt. departments, quality of construction, amenities offered etc. Buyers should especially be cautious in case of properties where construction work has not yet been started.
- As far as selling the real estate property is concerned, investors should prefer long-term returns, means they should sell after 7-10 years to get more returns as expected. This is necessary also to save on tax from capital gains.
Buyers or Sellers of real-estate properties, they should have patience to get steady returns and verification about developers will keep the investment secure. To search properties or to sell your properties or to rent / lease them out, please visit here.