Owning a home is everyone’s dream, and fulfilling this dream will give you emotional as well as financial satisfaction. With the enormous economic boom in most Indian cities, the average income has increased, providing homebuyers with added incentives to invest in the future. Investing in real estate could be the ideal choice for you. There are many options to invest in property in Panvel, Lower Parel, Worli, Thane, etc. These locations, in and out of Mumbai are hot spots for real estate investments. Any investment requires a thought process and strategy. Here are a few tips, which can help you invest smartly in real estate.
1. Location Of The Property
When it comes to real estate investments, it is a less time-consuming process if you look for properties in popular areas. The location of the property matters if you wish to get some good returns. Many real estate agents and professionals can help you find real estate properties in suitable localities. An ideal property would be such from where; commuting should be easier between home & office. One Indiabulls Thane is a Property in Thane, which has easy access to local amenities like hospitals, schools, shopping malls etc. This can be your defining factor to consider while investing in real estate in Thane. Indiabulls Sky and Sky Forest are the properties located in Lower Parel, which is the commercial hub of Mumbai. Owning a house here can give you the closest access to your workplace.
2. Invest in Good Quality Property
A right quality property should display these characteristics:
- Attractive project plan
The area should be open and wide with proper distribution between the open area and the occupied land. An attractive project will usually attract more buyers and investors.
- Value for money
The total price of acquisition of property should be less than 50 times one’s monthly take-home salary.
Indiabulls Park, a Property in Panvel, can reap good benefits for your investment. It is located in Panvel, which is attracting a lot of home buyers for investments. This is because of the infrastructural developments such as the Navi-Mumbai International Airport, Sewri Nhava Sheva Sea Link, CIDCO multi Modal Corridor etc.
3. Calculate Your Finances
Real estate investments are safer than other investments, but they are not risk-free. To ensure that you meet specific goals you need to calculate your finances. While it is easy to get loans from banks, calculating the interest and other factors is crucial. Calculate your expenses and profits pay off any impending debts, and only then decide to invest.
4. Gather Market Information
Before you enter any transaction, learn how things work in the real estate market. Learn as much as possible from all sources – internet, brokers, consultants, local dealers, books also from the people around you. Keep yourself informed of the latest developments in real estate, and its market conditions. Be attentive to any knowledge and information regarding real estate investments that can help you understand things better.
5. Network With Other Investors
Get to know the industry in and out to get the best possible deal while buying and selling. Once you make up your mind to invest in real estate, it is best always to find ways to fund your investment and have a network of knowledgeable investors that you can fall back on when something does not work out.
6. Have a Perfect Plan
Knowing market rates can help you track local trends. It is better to have an idea of what is going on in the market and then make choices for fruitful investment.
The above list will help you to become a successful real estate investor. There are many localities in Mumbai, which are worthy, or real estate investments. Indiabulls Real Estate has one of the best residential real estate properties in South Mumbai and other parts of Mumbai as well.