The Indian housing market seems to be atan all time low and so there cannot be a better time for the buyer to make a purchase. The reducing price rate of commercial and residential properties in India makes the home buyers consider purchasing rather than renting a property. Those who want to amass more property and add to their portfolio, they are getting more attracted towards real estate investments.
Seasoned investors are very well aware that investing on a property will bring forth maximum returns. If you are a new investor, you need to consider various key points and adhere to the investment tips. In case, the world of investment seems complicated, consider the do’s and don’t tips stated below.
Some Do’s That Investors Must Consider
- Get all your personal finances in order prior to getting in touch with the builder. Analyse your finances to find if you can afford the cost of property or not. Do not exceed your budget since that will give you financially tough times.
- Get approved for the loan virtually. Pre-approved or pre-qualified loan will help you determine your budget. So, accordingly you can make property searches.
- Check out the current market trends and make researches on the area where you wish to buy a property. Peruse through the recent sales along with the rates to find comparatively similar homes.
- Do make sure you get in touch with a legal counsel or a competent agent to assist you with the paperwork. The terms and conditions must be favourable to you.
- Make sure you choose the property which seems sound as per your financial status. But then, also be prepared for the risks.
Inspect the property minutely to ensure that no repair is needed.Get in touch with a reliable and reputed builder to make sure that you do not need to file a Complaint against builder in India. If the builder is good, there will be no cheating case and timely delivery of the project.
Some Don’ts That Investors Must Consider
- Before making an investment, do not forget to write your investment goals. Calculate the budget you can afford and evaluate your risks.
- Do not commit the mistake of rushing for a deal that sounds too good to be true. If the investment opportunity seems too attractive, take a deep breath and find out what you are not seeing. Treat your deal as a business transaction.
- Do not shop for the home under an emotional state. Getting invested emotionally is a strict ‘no’. You can walk away from the deal if you sense something fishy.
- Do not just lay your confidence on the documentations presented by a seller. There must be some independent consultant to verify the title clearance, home inspection and the valuation.
- Do not forget to hire a real estate agent to verify all the details. A builder can be a cheat also. Only a real estate agent who can help you to file a Cheating case against Builder in case he cheats you.
Do not rush to make purchases. If you are in a hurry, you make a poor buying decision. Take your time and then enter into a deal. Do not buy a property without visiting it several times. Before laying your confidence on any property, visit the neighborhood and carry out researches on demographics.
After being cautious and following all the Do’s and Dont’s, still if the builder cheats, you can lodge a Complaint against Builder in India. The builder is supposed to use quality construction materials and complete the project on time. If he fails to do so, you are free to file a Cheating case Against Builder.