Tips on Buying a Residential Property in India

Residential Property in India

There is an array of properties both in the residential and commercial real estate segments in India. While every kind of property comes with its merits and demerits, it is essential to choose a property keeping several factors in mind failing which the deal may not be as beneficial as one would have hoped it to be. Whether one wants to buy a villa in Gurgaon or a 2 BHK flat in Noida, it is important to consider certain things to get the right deal. Discussed below are a couple of points which should be kept in mind while buying a residential property.

Research: It is important to research the market before investing in a property. Things like investment returns, buying and selling trends, demand and supply, appreciation trends and value of a property must be checked thoroughly. It is also important to run a check on the realtor, the property and the amenities properly. Doing one’s research well provides information that will help in making a decision about buying or not buying the property. Thus, in order to make a good and wise buy, it is essential that the buyer conducts adequate research before buying a property.

Price: Price is an important thing to check before buying a property. It is necessary to make calculations about the total price so that it does not exceed one’s budget. Factors like tax deductions and benefits, applicable schemes and payment plans should also be kept in mind. If one wants to buy the property against a loan, it is necessary for the amount and EMIs to suit the buyer. If the price and total expenses exceed the budget or the intended expenses of the buyer, the expected profit or return will not be achieved, and the deal will not bear any fruit. Thus, it is important to consider pricing and finances before buying property.

Make sure you keep the above points in mind in order to make a nice and wise buy. If you follow these tips, you will always stand to gain, irrespective of whether you are buying a 3 BHK in Kolkata or a 2 BHK in Noida.

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