Investing in real estate is one of the best ways to generate good returns at the end of the day. However, it is a decision that needs be carefully weighed and compared before taking a final call. With the number of options available today and the competition in the real estate market, making an investment decision becomes even more difficult, especially for first time buyers. Before you select a project to invest in, here are 5 common mistakes to avoid while investing in real estate.
To start off, it is very important for you to think of your needs and requirements. It is essential to understand your capacity to purchase a residential space. Keep in mind your current savings and the needs of your family before concluding. There are times when people do not do a background check of themselves, purchase an apartment and end up in a rut at the end of it all.
There are time when people invest in a project without thinking of important factors and ultimately do not get good returns. Good research will take you a long way and will help you avoid such a situation. It is very important to pay attention to the location of the project and its connectivity to your regular landmarks, the builder’s reputation in the market and current property rates. This will help you make an investment that is worth every rupee spent and will also generate a higher resale value in the years to come. Doing complete research will definitely take up some time, but will help you make the perfect decision that will keep you satisfied.
Do not take a final call without consulting a third person. You should definitely discuss your investment plans with your relatives and friends. It is important to get their viewpoint, especially if you are missing something. Looking at things from a minute to a broader picture will help you make a better decision. You can also visit a real estate consultant for professional advice, loan plans, investment boundaries and more.
A bad financial decision will send you down the road and will keep you away from your dream investment. It is important for you to clear pending loans to increase your credit score and decrease the burden of paying multiple EMIs. A good credit score will help you get a loan from a number of banks and you can make a hassle-free investment after picking your ideal project.
It is important for you to understand the debt process. People normally take a home loan with an initial down payment. Larger payments due to a higher loan debt is something a first-time investor may find easy, but the same does not apply to a regular investor. Such matters can be avoided by taking a debt at a low interest and a larger down payment.
There are a number of residential projects that you can invest in, but making a wise decision is crucial in order to bear good fruit. Shapoorji Pallonji Mumbai Dreams is a new residential project in at Mulund, Mumbai by ShapoorjiPallonji that you should definitely consider when looking out for good investments. Keeping your requirement in mind, you can pick a perfect 1 BHK in Shapoorji Pallonji Mumbai Dreams or you can also go in for a 2BHK, 3BHK. Each apartment offers premium luxury and comfort from start to finish!
Starting at a price of Rs.92 lakhs only, the apartments at this development are reasonable and definitely worth your savings for an investment or a new home for that matter. Book your 1BHK, 2 BHK in Shapoorji Pallonji Mumbai Dreams, 3BHK luxury apartment today.