Here are some top tips to invest wisely

 Here are some top tips to invest wisely

As people gear up to purchase property before the increase in prices, here are some handy tips listed by experts that will prove to be useful for buyers

      Among the many ways in which the pandemic influenced consumers, it also reiterated the need to invest wisely to ensure financial stability.  This inadvertently revived a desire to commit to valuable assets, including real estate.  According to sales data revealed by a leading real estate services company, buyers’ interest is shifting from affordable housing (priced under rs 40 lakh) to mid-end (Rs 40 to Rs 80 lakh) and high-end homes (Rs 80 lakh to Rs 1.5 crore).

. Greater awareness among buyers

Compared to a few years before, home-buyers are now empowered to make better choices.  They have become more discerning and aware of their needs.  “The demand for spacious second homes amidst nature is soaring.  Prospective homebuyers continue to prefer bigger homes, better amenities, and attractive pricing.  Meanwhile, the commercial real estate segment is also performing well as millennials and NRIs are increasingly investing in properties, thereby redefining India’s housing segment”.

      The positive evolution of the real estate sector through regulatory changes like the establishment of RERA (Real Estate Regulatory Authority) has instilled better confidence among investors and transformed their perception of property ownership.  “Today, homebuyers are in a better space for investing as they enjoy augmented legal and regulatory protection.  Moreover, the right products are now available at the right price, thus creating better prospects for the buyers”.

 .   Financial planning is a must

Buyers must seek to make the most of the factors in their favor, especially when it comes to financing their property.  “Ease of availing home loans, and special financing offers from developers, banks and other financial institutions assist homebuyers in arriving at their best choice effortlessly”.

         By gauging these options, buyers can conveniently draw up a budgeting plan for their property before coming to the negotiation table.

Moreover, buyers must also take stock of tax-saving measures as “Looking closely into taxation is imperative for homebuyers as the Income-tax Act, 1961 has many provisions for homebuying-related deductions.  For instance, there are several tax deductions in store for first-time buyers on the interest and principal amount of their home loan.”

.        Assess all the relevant factors

Buyers must understand why choosing the right location for their property is paramount.  “Scouting an appropriate location that shows scope for development and appreciation in value over time must be a priority.  Additionally, it is vital to see the traffic situation and whether the location is well connected to the city”.

      A gamut of infrastructural projects in the area makes many erstwhile over-looked regions lucrative for investment.  Metro projects, new airports, increased bus connectivity etc; all make for a lucrative buying market.

       Moreover, exceptional connectivity, proximity to nature, and abundance of scenic and open surroundings make an area an attractive prospect among homebuyers.  “Such growth-driven locations are set to become the most coveted communities for real estate investors, especially in the segments of affordable buying and second homes.  And so, buyers should strike while the iron is hot and invest soon”.

         Not to forget, it’s equally important to make certain that the developer or the seller is trustworthy.  Besides the project’s registration with RERA, buyers must also investigate the goodwill of the buyer.  “Many builders construct houses that appear attractive, but the quality of material used in construction is poor.  And so, a detailed background check on the developer is necessary.  No query can be too trivial, whether it’s about certifications or amenities”.

          Considering the wealth of information and resources easily accessible to buyers, they are truly empowered to make thoughtful and rewarding investments.

Thanks - TIMES PROPERTY