INVEST IN A PROPERTY [Complete Guide]
It is the dream of every common person to invest in a property and for a first time home buyer, it is such an untold and an inexpressible emotion when you purchase a home and pamper yourself. Staying in an own house gives a sense of pride and the owners get tax benefits for their home which is the asset to be added to their cart. Real estate taxes are deductible, providing great benefits to the homeowner. Homeowners often find that owning a home costs substantially less than renting a home. There is no restriction for making amendments to their house suiting their requirements. Also, there is always a higher return of investment for the home you buy. You are the real beneficiary who gets rent every month, but it might appear that the tenants get benefited while getting their deposits back.
It is basically a one time huge investment that you do, that will be an asset for you for the rest of your life. This asset will definitely secure your future for all the advancements.
You needn’t have to face difficult tenants if you don’t wish to have them at your place. You can simply say that you are moving in, so you needn’t have to give them a scope to stay. You have the option to refinance your bond amount if you wish to withdraw a large amount of money to pay for major purchases.
This bloggicle deals with the tips for first time home buyers on ‘How to invest in a property’. Let’s move in further to read and understand the ideologies.
#1 – Use Real estate Portal to Invest in a Property:
A real estate property portal is an encyclopedia of property listings and you are prone to get a variety of ideas to understand and boldly invest in a property. Based on the user reviews and ratings about the project, positive and negative reviews about the builder, you will get a clear picture of how to invest in a property.
Infact, online real estate property portals do the A to Z of home processing proceedings for you. Starting from finding a home to arranging a site visit and arranging loan for you, they do it all. You just need to find a trustworthy online property portal that does all these effortlessly for you.
#2 – Use help of a Property Manager to Invest in a Property:
A property manager or a consultant will take care of all the in between proceedings that as an individual are your responsibilities. Searching a home, making sure the locality is alright, clearing off all the illegal issues and screening properties that satisfies all the legal abilities and arranging for a site visit. Browsing through the net for trustworthy property managers will help you get one. Also, every property portal will have a property manager so searching for one person like them becomes much simpler.
#3 – Fix on a Property:
Always, fix on the project you wish to invest in and then start doing groundwork for it. Understanding the pros and cons of investing in that property, the finance associated with it and the debts that should be settled after the property has been purchased is an important point to be noted. Also, do a thorough study about the locality. So if you have shortlisted four or five of such properties that satisfies all these criteria, then make sure you consult an expert to go ahead, research and invest in it.
#4 – SCRUTINIZE A LUCRATIVE LOCALITY:
Locality is a major concern for all those that are planning to invest in a place that is a definite plus for the future settlements. Choose a property that is likely to give a high return of investment while selling. This is possible only for a locality that is in a very busy locality and that which is proximate to all the important areas like schools, colleges, hospitals, bus stops, railway station, airport of the city. Invest in a locality that is going to give all perks to you in the future run.
#5 – Purchase a Vacation Property in order to Invest in a Property:
When you purchase a property that is taken only during friendly hangouts and recreation, or get togethers or a halt spot for vacation, then you are likely to get a greater return of investment. Every time a person comes in to stay, even for two or three days, they might possibly be charged a large sum for such a short period. You can get a higher rental income as a beginner in real estate. If the location is good, vacation homes attracts a lot of tourists and travellers during the high season in that region.
#6 – PURCHASE A COMMERCIAL/ NON-RESIDENTIAL PROPERTY:
Any property, other than residential is a great investment for all the owners. Commercial properties like shopping complexes and malls is a home gardened money tree for the owners that will be only a subject of profit.
#7 – MANAGE CASH FLOW:
Make sure you have enough finances to suffice all the home needs that you will appear into. Make enough finances for the deposit, bank debts, interiors and other furnishings. Buy a home keeping in mind all these criteria so that there will be no disappointment or hassle while shortlisting a home for yourself.
#8 – PREPARE A REPORT FOR ALL THE PROJECT YOU ARE LOOKING TO INVEST IN:
Make a proper report of the project you have shortlisted. Take a look at the locality at different time zones of the day and check on the project on different zones of the day. With the available cash, make sure the project looks appealing throughout the day and night. Prepare statistics on the safety and security of the area and make it a point to inquire all the neighbors on how the locality supports the safety of the residents. Once all the above points satisfy, you can go ahead with the next step.
Keep in mind all the above points so you can invest on your dream home without any hindrances. Also visit www.jainhousing.com to invest in luxurious and affordable villas, plots, flats and apartments all for yourself.