Checklist Before Investing in a Property

by admin on July 1, 2021

Home Buyers Checklist

Checklist 1: Home Buying Budget

It’s always advisable to prepare a budget to buy the house. A proper budget has to be planned to know how much money will be left each month to meet your expenses. A budget will helps in segmenting the available options and in zeroing down on to the right property. It is also important to consider the long-term utility of the property and balance it with financial capability. One should keep in mind that an investment in property cannot be frequently altered. As a property buyer, understanding your family’s present major needs will help you make the right decision.

Checklist 2 : Home Location

Location is King It is essential to choose a location and the locality. Factors to be checked out to make the investment a viable one are the availability of infrastructure, proximity to workplaces, shopping malls, schools, and healthcare facilities. Location will also have a large impact on the resale value of your home.

Choose wisely and your home may be your best investment. Importance of location in real estate purchase always seems to be overestimated. The reason is that the location is what translates into profitability for the investment. Location, primarily, creates the desire for purchase and the desire, in turn, creates demand which causes a rise in price.

Checklist 3 : Loan eligibility

Home loan eligibility depends upon the repayment capacity, income, existing loans or debts and age of the loan applicant. It is very important to choose the right home loan scheme. There are various factors such as the bank, tenure, amount, floating or fixed rate etc that need to be thought of while choosing the appropriate home loan scheme. The lending company or banks provide services such as home loan eligibility and criteria to the home loan borrower. The maximum loan that can be sanctioned varies with the banks and the eligibility criteria may vary according to the bank or RBI regulations

Checklist 4 : Stamp Duty & Registration Fee

This is an important expense or tax, much like the GST tax and income tax that are collected by the Government. When planning your budget for property buying and deciding to buy a property, you need to know the rate and charges applicable in your city. If you want to know the market value of your property and the stamp duty amount on it, you need to contact the Ready Reckoner to locate your valuation zone and sub-zone. Find out the stamp duty amount applicable to you as per the market value.

Checklist 5: Rental rates in the area

If you are are planning about investing in a rental property, homes in high-rent or highly populated areas are ideal. Knowing the rental rate in the area helps you to choose the right property and location.

Checklist 6 : Good Resale Value

Resale sale Value is an important thing to consider before you plan to invest or buy a property. Before embarking on a home buying journey, most buyers usually have a wish list of features they want in their home often missing from that list is how sale-able the home will be when they later decide to sell. Now you may argue that when you buy a home to live in, you are not necessarily considering its resale value. Well, point taken. However, one cannot ignore the probabilities of selling one’s home in the future. A job in another city or country, transfers, desire to upgrade to a large space are some of the common reasons why people usually end up selling their home.

Why you should Invest in Kaatyayni Height Building Project

With easy access to commercial hubs, along with recreational spaces and amenities such as schools, hospitals, Airport, Railway Station, Metro Station, Western Express Highway and malls, Kaatyayni Heights offers many advantages for property seekers. We look to offer the Best in the housing categories. One can buy properties, ranging from 1-BHK to 3-BHK apartments were price starts at Rs 1.20 cr* for 1 BHK, Investing in a luxury property like Kaatyayni Heights in Andheri East  the appreciation rates are faster as per the property trend in Mumbai.

Real estate has always been considered as a fruitful asset in one’s investment portfolio, for the short term, as well as long term. Property is one of those few assets, which can offer you returns that are higher than the inflation rate. However, only a modest part of the population manages to invest in real estate, out of which only fewer can understand how the property market works and what really contributes to price appreciation in the property market.

Connect with our Property Investment Manager for more Information on 18001231666