New Delhi: These are the main things that first time home buyers should keep in mind.
Residential real estate is always in high demand in most Indian metropolitan areas. Debt rates are now lower.
In cities like Mumbai, property registration fees have gone up by 78 per cent and in places like Bangalore by 20 per cent. The sector has performed well over the last two years.
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If you are buying a home to invest in, real estate is a real asset, and buying a home requires patience. In contrast to the stock market, a medium to long wait is required to reap the benefits of an investment.
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There are many people who are obsessed with tying up money to buy a house with the money earned through hard work. The complete foundation for investing in real estate in big cities is based on the credibility of the developer.
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It is safe to buy a flat in a residential area. But there are other market opportunities like REITs that allow an investor to invest in big business ventures like mutual funds. This minimizes the overall impact of a potential collapse on a particular segment.
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If the buyer wants to invest in more than one asset, focusing only on one market can reduce the risk of investing in different locations.
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Conduct extensive independent research on building, area and property. We need to explore and invest in growth opportunities in that particular area in the future. A thorough market study can provide a wealth of information to investors.
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Real estate markets are just as vulnerable as financial markets. This is due to concerns about the market, the economy and the developer. This 5-point checklist will be a guide for first time home buyers or investors who want to save some money in a trusted place.