Planning to invest in real estate?

Surrounded by the dilemmas of investing a big amount of your hard earned money?

Well, real estate investment could be a daunting task especially if you are a first timer in the pool. Getting the assistance of an expert with an exhaustive set of advice on buying property could be a lifesaver since a miscalculated decision could detriment to be a catastrophe. Although, there has been a sea change in the trends of buying real estate in India with the average age of the investor going down from 39 to 30 as per a recent study.

What has kept stagnant is the amount of reluctance prior to this herculean investment. Getting property advice straight from the horse’s mouth can be regarded both as a prescription and a necessity for an investor.

Here’s a quick insight into some such pieces of advice on buying a property from the big shots of the domain:

1.Estimate your present standing:

The most fundamental property advice starts right from evaluating your base which actually incorporates your income and your current set of liabilities. The idea is to evaluate the actual amount you can afford to spare as EMI.

2.Identification of future obligations:

The next step would be to choose a property that would suffice your future needs as in the space concerns if you are a growing family or maybe the neighboring amenities to fulfill the needs of y our family members. Clearly stating the notion of gaining property advice from an expert will do the trick.

3.Explore the wide array of interest rate alternatives: Although there are various alternatives for attaining the home loan that could be either a fixed rate or a floating rate of interest. The key is to choose it wisely. As per property advice from the experts, it is advisable to choose the fixed rate option to keep away from the repercussions of fluctuations in the market.

4.Checking creditworthiness:

Getting insights on your CIBIL score, which happens to be India’s first ever credit information company could play a major assistance in your quest for real estate buying.You can easily fill up the loan application form and submit it to CIBIL to avail your credit score and credit report. Having a low credit core implies your inability to attain a home loan and puts a full stop to your proceedings straight away.

5.Explore the diversified loan providers:

Upon being eligible for a home loan, it would be a great idea to explore all the prevailing providers of home loan to gain useful insights on their comparative strengths and weaknesses and hence evaluate your best-suited partner.

6.Choose the location wisely:

Location is a major factor that could actually determine the present and future evaluation of your property. Choosing a suitable location by availing prudent advice on buying a property from the masters of the trade could be an added perk.

7.Evaluating the builder:

Before taking your first step it would be always advisable to get your homework right by analyzing the true credibility of the builder you are investing with. Having a complete analysis of his past/ ongoing/future projects would help you actualize the realistic abilities of the builder and help you take a full proof decision.

8.Familiarize with the plan of payment:

It is a good practice to have a clear understanding of your mode of payment along with the respective time frames which could be either construction linked or time linked. Also, another point to be noted is to get a hang of the cheque versus cash component to ease out the payment process.

9.The complete legitimacy of the prospective property:

A smart and essential investigation would be to scrutinize the accountabilities of the builder whether he complies with all the needed legislative and regulatory obligations in concern with the property. Since non-adherence to these standards could play havoc for the investor.

10. Identify the difference between the units of land measurement:

Investing in real estate would actually make you familiar with the terms such as built up area, carpet area, and super built-up area. However, the base is to understand these terms to the core before actually agreeing on the total cost of the property. The idea is to evaluate the carpet area which is actually the area that you would ultimately own.

Investing in real estate is definitely a huge decision for almost all of us. Steering towards the right direction by availing expert advice on buying property is a guaranteed assistance with reassuring outcomes. The experts would not only make the process a cakewalk for you but would also strive their best to help you avail the best option made available at the most competitive rates.