Dev Singhraha
Relocation Expert
People consider real estate as profitable investment options but if it is done wisely. Many of us spend all of our savings and also opt for a loan to buy a property but many times everything does not sit in the right place. Hence you have to be very cautious before investing in real estate and make sure that you are taking the right decision.

1.Research thoroughly: after you have arranged all your finances, the next step is to research your options as per your requirements.

Research about these factors to make a decision:
Safety and security feature
Present and planned social and infrastructure development
Connectivity and feasibility
Livability factor

Check if all these factors are in place or not. You should not invest in such areas which lack basic amenities like drainage system, water supply and roads. Don’t get fooled and invest your money on the basis of future development plans because all infrastructure projects usually take time to start and even does not get completed as per scheduled time. 

2.The credibility of a developer: real estate sector is considered to be highly disorganised. Due to uncertainty in project delivery, fake promises, buyers somehow have lost their trust over the developers. Hence it gets very important to research the builder’s credibility. Do not blindly follow builder’s promise, offers or advertisements and invest your money. Be sure about the builder first, look through the builder’s track record, previous projects and then make the decision.

3.Legal documents verify all the legal documents related to the property. For any property deal, a title deed is very important. If the property does not have a clear title deed, then it is better not to buy that property. Because the title deed is a crucial document for a property without which you can land up into legal trouble in future.

Get the title deed verified from an attorney before you purchase the property; make sure the property has all the required clearances. Also, ensure that all the taxes related to the property are cleared.

In case of under construction property, get hold of the development agreement and allotment letter from the developer. The allotment letter has all the details of the property price, delivery date, floor plan and liability details in case of delay in project delivery. And the development letter comprises of details regarding terms and condition based on which the landowner gives permission to the builder to use the property.

4.Budget: here comes the crucial factor. Make sure you first decide your budget and then accordingly start searching the property. Try to manage your finances as decided. Calculate your savings vis a vis the down payment amount and the amount for EMI if you are taking a home loan. Check that your EMI amount does not go beyond 40 percent of your monthly income.
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