Tips to Invest in Real Estate

Are you looking forward to invest in real estate? Here are some tips to help you strike a profitable deal as a beginner: flats in vaishali

Check Affordability

Real estate property is one of the costliest investments one makes in his lifetime. A number of factors play a crucial role while making an investment. Right from income & savings capability, credit rating, and budget, every small detail should be considered. Statutory charges may increase the overall cost of property. This may cost around 10% extra for you. Here is the proper break up of cost: 2 bhk in indirapuram

Stamp Duty – 6 per cent cloud 9 indirapuram

Registration – 0.5 per cent

Brokerage – 0.5 per cent

Advocate Fees – 0.1 per cent

Home Loan Processing Fees – 0.1 per cent

Tax Deducted At Source – TDS – 1 per cent

Society Administration Charges – 1 per cent

Home Loan Preparations

Once you decide your budget, it is time to start preparing for home loan. The first step is to check your credit score. In case, the score is low, you must take additional steps to improve it. Banks may not offer you loan if the credit score is below 700. Official CIBIL website is the place to check this score. The next step is to keep all documents handy: property in delhi ncr

– Income tax Return (ITR) of last year.

– Address Proof.

– Latest salary slips (of last 6 months).

– Statement of Assets (financial & physical).

– Bank Statements (of last 6 months).

– Identity Proof.

– Any other documents as asked by the bank.

Compare your loan eligibility numbers with the affordability calculation. flat in indirapuram

Choice of Property

You main aim should be to buy a good property which is value for your money and offers decent project plan. The property should have good open area and should not be expensive. Rental yield of the property should be lower than 3.0 per cent. real estate developers in delhi ncr

The property you buy should be affordable, done in a decent know location close to schools, markets, approachable roads, and hospitals, away from drawbacks such as too close to railway station or airport, remote location, etc., preference of a specific house type, second hand homes (great value for money), ready possession (such as ready to move flats in Indirapuram), established locality, facilities (modular kitchens, modern bathrooms), number of bedrooms, parking, communication, extension, condition on outside and inside, and security. real estate companies in delhi ncr

Buying Shares

This is a good alternative of investing in real estate sector. There are a number of reliable companies offering shares in this sector. You must closely check the list of elements of S&P BSE Realty Index. flats in delhi ncr

Reputed Property Dealer

The most common problem of today is “project delays” which results in issues with                       investment. Although it is not always builders who are at fault, they may have a part to play. It is recommended to get in touch with reputed developers such as Rishabh Group who can complete the project within schedule and promise quality too.

To Sum Up

Investment in property may sound to be a good idea. However, it is important to be on alert always. As a beginner, the above mentioned tips will help you create the right strategy for making profitable investment. Some of the most crucial points to keep in mind include location of property, size, affordability, amenities, and exact time of purchase. 3 bhk flats in indirapuram

Happy Investing!