5 Tips To Consider While Buying a Property In Thane!
Whether you are a first-time home buyer, or someone investing in a second home, or just a real estate investor wanting to invest in new property, the excitement of buying a new property is always the same. Making an investment in Real Estate is always considered as a safe investment. But, there are certain things to be kept in mind before betting your hard-earned money, as one wrong step can end you landing in some problematic situation and it is quite difficult to overcome it. We, here at Vihang Group explain you the factors to be kept in mind while buying a new property.
Choosing the right location before making an investment in real estate is the most crucial step during the home buying process. You should make sure that the location you are planning to make an investment has the potential to grow in the coming years. For example, investing in projects in Thane is a good option as the scope of development in Thane is comparatively high.
The scope of development is minimal when it comes to pre-established areas, which causes a stand still in the property prices after a particular period of time. The most important factor that will help you crack a good deal is understanding the potential growth of the location at an early stage. For example, if you make an investment in property in Thane where the scope of development is very high, then you are making an investment in the right location. On the other hand, if you are planning to rent out your apartment, then go for Thane, Ghodbunder Road, as this place is in high demand by tenants due to the coming up of the new metro which will keep them well connected to the rest of the city. As the areas nearby railway stations, commercial centers, command high rent as they possess a greater scope of development making Ghodbunder Road is an ideal location.
The modern home buyers are not looking for a block apartment or an apartment with a specific area, they want an abode well-equipped with all the modern amenities. The value of the property increases if medical centers, fitness centers, schools, colleges, entertainment hubs, etc are in close proximity. If you are planning to buy a plot area where such general amenities do not exist. The developers nowadays are offering luxury apartments in Thane with parks, pools, clubhouses and fully equipped gyms in their complexes. Developers also make sure that office spaces, hospitals, post offices and restaurants are in close proximity, keeping in mind the needs of the modern home seekers.
- Public Transport Facilities
Another thing to be kept in mind while purchasing a property is that the project you have opted for should be well connected to all public transport facilities be it bus, train, or metro. This will also fetch you high rentals which ensure a great return on investments. Also, you should not buy a property which is just next to public transport as the noise may create havoc and disturbance.
- Reputed Builder
Recently, numerous illegal builder cases have been registered, so, make sure that you choose a reputed builder when buying a property, as the success of the project totally depends on the builder you are dealing with.Choosing a wrong builder can lead you to disastrous consequences such as, amenities not as per the agreement, or not delivering the project on time.
You need to set a proper budget while buying a property. You have to be very practical and analyze the finances, like how much are readily available and how much of external finance will be required for buying that dream house. A proper financial plan has to be made. You should also be left with some amount, to cater various other needs and also a safety amount in the time of emergency. Taking a home loan can be a good option, but make sure you choose wisely.
Today, India’s real estate is developing at a phenomenal pace with wide options to choose from. There is a boom in Indian Real estate not only for residential properties but also for commercial properties. Investment in real estate is a big step towards long-term wealth and also brings a feeling of pride and security to many people.