Looking to Invest in Upcoming Location? Know these Before
Jun 12, 2017 Home Trading Steps
The term we come across often with regards to real estate sector is upcoming locality. These are the newly created residential hub. These locations are the extension of the cities to accommodate the rising demand for houses. Even though these localities are still under construction on all fronts like amenities, proper water and electricity supply etc., in a residential and commercial area, there are buyers for the same.
One must wonder why? There are certain benefits to investing in these projects. First, the cost of properties are much lower than the rest, the return on the investment, if one decides to sell the property, will be higher after the location has established.
But before blindly investing in these properties make sure you have done proper research.
We discuss some of the main points that you should check before investing in them.
1. Look around:
After short listing the preferred properties, do a manual check up on them. Know more about the locality from the internet, their current infrastructure and future civic prospects. Get to know about the commercial projects nearby. If possible try to get the information about the other upcoming projects in the area. Make sure you find out how much time and distance it takes from the railway station and airport. Check if there are any nearby or any proposed project for schools and colleges. Make sure you know how far is the hospital from there? And how far from the highway it is?
2. Credible builder:
Investing in upcoming projects is tricky. Make sure it is by one of the trusted builders. If the builder is new, ask them about the details of their past projects. If there are more reputed builders with their upcoming projects in the area then that is a good sign. When developers look for starting a project, they look for the areas that can yield them maximum benefits.
3. Check for amenities:
Civic amenities are quite important as well. Make sure there are street lights and proper water and electricity supply. If they are not as of now, then contact the concerned civic authorities and enquire about the same.
4. What are you investing for?
When you decide to invest most important question in asking yourself is what are you investing for, are you going to live in the locality or it is just an investment? If it is for the living purpose, you might want to invest in the project that is near completion and which can offer a fine living experience. If it is only for investment purpose, then you can choose the property that is still under construction. The properties that are near completion will cost you more as compared to the projects still under construction.
One must wonder why? There are certain benefits to investing in these projects. First, the cost of properties are much lower than the rest, the return on the investment, if one decides to sell the property, will be higher after the location has established.
But before blindly investing in these properties make sure you have done proper research.
We discuss some of the main points that you should check before investing in them.
1. Look around:
After short listing the preferred properties, do a manual check up on them. Know more about the locality from the internet, their current infrastructure and future civic prospects. Get to know about the commercial projects nearby. If possible try to get the information about the other upcoming projects in the area. Make sure you find out how much time and distance it takes from the railway station and airport. Check if there are any nearby or any proposed project for schools and colleges. Make sure you know how far is the hospital from there? And how far from the highway it is?
2. Credible builder:
Investing in upcoming projects is tricky. Make sure it is by one of the trusted builders. If the builder is new, ask them about the details of their past projects. If there are more reputed builders with their upcoming projects in the area then that is a good sign. When developers look for starting a project, they look for the areas that can yield them maximum benefits.
3. Check for amenities:
Civic amenities are quite important as well. Make sure there are street lights and proper water and electricity supply. If they are not as of now, then contact the concerned civic authorities and enquire about the same.
4. What are you investing for?
When you decide to invest most important question in asking yourself is what are you investing for, are you going to live in the locality or it is just an investment? If it is for the living purpose, you might want to invest in the project that is near completion and which can offer a fine living experience. If it is only for investment purpose, then you can choose the property that is still under construction. The properties that are near completion will cost you more as compared to the projects still under construction.
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