I will definitely buy real estate within a year

Investing in real estate has become a trend in India. Not just residents, NRIs are also showing great interest in Indian properties. Owning a home is a symbol of prosperity, but duty more reflects wealth. Although investing in gold and mutual funds is more convenient and beneficial, real estate tops the list. 2007 was considered the golden age of real estate in India and the boom subsequently subsided, but it seems that the ‘Achhe Din’ are back. The number of home buyers is increasing. There would always be a need for homes to live in, so it makes sense to buy a property. Let’s look at some facts one needs to know before buying a property this year.

1. To live, you need four walls and a roof, so that’s a must. But the return on investment is determined. Within a short duration, such as a year or so, the appreciation will be fairly flat. Magic can happen only when the government. plan something for the best infrastructure of the location. When the growth is only 4 to 5%, it is not advisable to pay 9.5% of the loan for the purchase of the property. It was about when one wants to liquidate assets for a shorter period of time. If one plans to keep the property for more than 5 years, the real estate share can be good.

2. Ready-to-move-in properties are preferred to those under construction because repayment is instantaneous in the event that the rental home is handed over and there is no delay in possession. With rising inflation and decreasing need for comfort and convenience, affordable housing units are selling out quickly and for the young or newlyweds, renting is a more likely option. One should continue to rent a house if the monthly EMI is more than the monthly rent.

3. It is advisable to pre-approve the loan so that the purchase of the property is not delayed due to paperwork, but there is a catch. The deal needs to be finalized within a maximum period of 8 months, otherwise the loan processing fees have to be paid again. Consider finances. The higher the down payment, the more loan can be obtained from the bank and the lower the EMI. Less EMI means less pressure on the monthly budget. So before you buy a home, try to manage the down payment as much as possible.

Four. Rent, rent, rent! One should never forget the oldest rule of buying a property. Houses in the suburbs can be purchased at more flexible prices compared to those in the city. They are on the outskirts, so far from the hustle and bustle of the city but closer to city life. The prime locations are not in everyone’s budget, but these extended locations are connected to all of the prime locations and can be a good bargain if one plans to buy a property this time around.

5. Invest in the builder with a good track record and deliverables. If someone is planning to buy a property in the state with which they are not familiar, it is advisable to go with the reputable builders. Instead of going blind, you can hire a professional agent with considerable experience.

The price of property in India is level. There is no room for correction. Builders already have the huge inventory they need to sell. The price is already the best they can offer so buy a property now before there is a turnaround in the Indian property market.