Buying a flat is not always a requirement for a house. It is one of the best ways of investing as well. This investment helps in reducing the overspending and it increases the income source if you put it for rental purposes. However, it is important to focus on some specific factors to invest in the right property. So, I am here to elaborate on the factors which will help you to find the right real estate property and specifically in the form of apartments.
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- Location: Buy a flat in the heart of a city or if you buying a flat in a suburban area then make sure that the specific area has a good communication facility. This feature will help you in managing your busy schedule more easily.
However, if you are staying outside your home for study or job purposes then buying a flat in that city is the right choice for you. This will help you to reduce spending on rent purposes. In future, you will be able to sell out or can put the flat on rent which will help you financially. However, before making the decision you need to pay serious attention to some specific factors and factors are-
- Don’t take a high amount of loans, it will create a financial burden on you.
- Choose an affordable down payment option
- Check the amenities and communication of the apartment for future convenience.
- Don't go for an apartment which is older than 15 years. They need a lot of maintenance, so it will also create a financial burden on you.
In this case, I have to mention that Realtech Nirman has a lot of options for properties in the heart of Kolkata. So if you are looking for a property in Kolkata, you can check out.
- Prioritise the budget apartments: The main aim of investing in a flat is to earn through it and people prefer budget apartments for rental purposes. Remember, people mostly look for 2 or 3 BHK flats to take for rent.
In this case, it is important for you to track the rental trend of the city. Understand the prevailing average existing rental for the apartment. So that you can make expectations according to that and can easily put it up for rental purposes.
- Developing areas over developed areas: Buying a property is an asset for the future. So, it is more profitable for you to buy a property in a developing area than in an already developed area.
You will be able to get a property at a reasonable price in a developing area than the developed area and as the locality is developing so communications will be convenient as well.
You can book a property in an under-construction apartment because builders tend to give a handsome discount on the flats if you book at this point.
Well, I hope it is clear for that how to find the right real estate property. Now it is the time to discuss the positive and negative sides of investing in flats. For obvious reasons, I will focus on the positive aides first and the factors are-
- Hustle-free life: Flats are easier to handle and you do not need to worry about maintenance as well. Flats occupy a small area and in most of the apartments, you will get support for the maintenance. Apart from the maintenance issue you will have access to the best amenities of life like 24/7 security, clubhouse, swimming pool, power backup, community hall, playing area, gym and so on. So life is easier in flats and when you will put it for rental purposes, it will be easier for you to get a tenant.
Builders like Realtech Nirman pays significant attention to these amenities part and the projects of Realtech Nirman is closer to places like school, college, hospitals etc.
- Banking support: It will be easier for you to get a loan for an apartment than for plots. You will be able to get a loan for 30 years in a row. As builders like Realtech Nirman pay significant attention to proceeding with the whole work legally, it will help you.
Now it is the time to focus on the negative points of investing in a flat and the factors are-
- Lack of privacy: Lack of privacy and lack of flexibility is one of the biggest drawbacks of possessing a flat. You will not be able to reconstruct as per your wish. Additionally, if you are unfortunate enough, you will get a noisy and interfering neighbour.
However, if you are buying the flat for rental purposes then it is not your issue at all. The people who are trying to get accommodation near to their office will not mind it at all.
Final words: So, I think it is clear that investing in real estate is highly for your future in the long term. So what are you thinking about? Just go for it.