Check Points for Buying a Property with a Good Resale Value
Jul 20, 2017 Home Trading Steps
In today’s world of global citizenship, it is very important to look for a property with a good resale value. But all the properties do not have same resale potential. There are several factors that determine the value of a property. You must bear in mind the following points in order to make sure that your investment has good resale value:
Basic amenities for a comfortable dwelling:
Location plays an important role while buying a property. If an investor is planning to sell a property to an end-user, he/she to pay special attention to the fact whether the place is habitable and have all the basic conveniences in place required in day to day life. Not only the pricing of the house depends on aspects like amenities, connectivity and neighbourhood, but the resale value of the property also depends on all these factors. These days people generally like houses that have greenery around them, so that, children can play around and they can be brought up in a healthy atmosphere. So, these days it is wiser to invest in properties that were just 50 percent of the total land area is constructed while rest of the area is left for recreational purpose where manicured lawns and gardens enhancing the look of the project.
Choosing the right property configuration
It is always wise to understand the local demands of the place where the property has been constructed and bought. According to the recent trend, 2BHKs are the most in demand property type. However, in Mumbai, there is a heavy demand for 1BHK and smaller 2BHK because of higher property prices. Based on the general pattern it can be noticed that bedrooms are one of the primary needs of homebuyers. Young home buyers usually seek a minimum of three bedrooms along with a master bathroom that could as like a perk that will likely add to the resale value.
The most important area: appreciation of land
A smart investment is one in which the buyer looks beyond the peripheral aspects like the style and the physical attributes of prospective purchases, and considers the property in term of land appreciation. Therefore, not only a property should look attractive, it should offer you opportunities for price improvement that will enhance the value of the land. Property value is constantly progressing at places which have developing infrastructure or have growth drivers. Such places mostly are upcoming metro, flyover, bridge or any other major project that could increase the convenience of local residents.
So, it is advisable to bear in mind all these points before you buy a property. This is so because you never know when you might need to resell your property either in need of money or because you might have to, or you might wish to move to a new location.
Basic amenities for a comfortable dwelling:
Location plays an important role while buying a property. If an investor is planning to sell a property to an end-user, he/she to pay special attention to the fact whether the place is habitable and have all the basic conveniences in place required in day to day life. Not only the pricing of the house depends on aspects like amenities, connectivity and neighbourhood, but the resale value of the property also depends on all these factors. These days people generally like houses that have greenery around them, so that, children can play around and they can be brought up in a healthy atmosphere. So, these days it is wiser to invest in properties that were just 50 percent of the total land area is constructed while rest of the area is left for recreational purpose where manicured lawns and gardens enhancing the look of the project.
Choosing the right property configuration
It is always wise to understand the local demands of the place where the property has been constructed and bought. According to the recent trend, 2BHKs are the most in demand property type. However, in Mumbai, there is a heavy demand for 1BHK and smaller 2BHK because of higher property prices. Based on the general pattern it can be noticed that bedrooms are one of the primary needs of homebuyers. Young home buyers usually seek a minimum of three bedrooms along with a master bathroom that could as like a perk that will likely add to the resale value.
The most important area: appreciation of land
A smart investment is one in which the buyer looks beyond the peripheral aspects like the style and the physical attributes of prospective purchases, and considers the property in term of land appreciation. Therefore, not only a property should look attractive, it should offer you opportunities for price improvement that will enhance the value of the land. Property value is constantly progressing at places which have developing infrastructure or have growth drivers. Such places mostly are upcoming metro, flyover, bridge or any other major project that could increase the convenience of local residents.
So, it is advisable to bear in mind all these points before you buy a property. This is so because you never know when you might need to resell your property either in need of money or because you might have to, or you might wish to move to a new location.
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