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Jul 27, 2021

HOW TO INVEST IN THE RIGHT PROPERTY WITHIN BUDGET

HOW TO INVEST IN THE RIGHT PROPERTY WITHIN BUDGET

 

Stepping foot into the real estate market is a daunting task. For most people, it is one of the necessities of life that come under basic needs, however, for many, it is just a want, an opportunity to secure the future. Selecting the right property to invest in encapsulates many factors ranging from price, location, requirements, and a recent yet globally acknowledged significance of amenities that comes along. It is also a great way to accumulate capital. As the famous American Industrialist once said, “Ninety percent of millionaires have become so by investing in real estate”. 

But how do we find the property that gives optimum value for investment, considering the budget as a constraint? In India, even though the market has been booming and the market has become a buyer’s market, and with a surge in the capacity of the middle-class, money would always be a factor that is checked pre-emptively before any investment is made. So, we have chalked down few factors that would help us decide the kind of property we want to acquire.

 

  1. Location

One of the most important factors that facilitate or negate investment in real estate is the location of the project. It could be your hometown or a place with a serenity that might attract you. An isolated location would render more cost than a packed urban setting. However, the latter comes with the con of hassles and tussles of people around the place. If you are looking for a place to spend some quality time, out of the everyday rat race you are in, an isolated location would be a perfect choice. However, if you are a city-bird, you might want to look for properties inside the concrete jungle. 

If Guwahati is your choice of residence and this is where you see your future unfolding, Uttarayan Real Estate Developers would bring you with a plethora of options that could satisfy your needs. Currently, they have five ongoing projects spread across the city and in the outskirts that cater to a spectrum of clients and their corresponding needs. 

The Uttarayan Pride and Uttarayan Ville are located at Kahilipara, Guwahati, surrounded by essential institutions such as market place, medical college (Guwahati Medical College, Hayat Hospital), and schools (Modern English School, Maharishi Vidya Mandir, Little Flower School, etc.). Even though one might feel the groove of the city-beats, the apartments are packed with modern amenities that go beyond the pale promises of its competitors. Additionally, Uttarayan Dwaraka is located at the heart of the city in Ulubari, with an even more urban feel to it. Whether you want access to medical institutions, railway station, shopping complexes, or probably your workplace which in most cases would be city-bound, these apartments are a perfect reflection of an urbanized lifestyle. 

On the other hand, projects such as Uttaryan Shreejoni and Uttarayan Empire are located at the outskirts of the city, at Dharapur and New Airport road respectively. Make no mistake, even though located far off from the pumping heart of Guwahati, these pristine locations would feed your desires to have a serene residence. With the necessary amenities inside and a growing market outside, these projects also find themselves in close proximity to the Lokapriya Gopinath Bordoloi International Airport. 

 

  1. Affordability 

As aforementioned, money is probably one of the most important factors (if not ‘The Most’) while deciding upon an investment. If you are a first-time buyer and seeking a dream home, you might want to consult a financial and real estate advisor to help you layout a plan of investment. Everybody wants a purchase of good value and without proper guidance, you may end up beating your head against the wall (and probably worsen the situation when the wall cracks up before your skull does). 

It is important to analyse the amount of mortgage you can afford along with the available funds. You may want to scrutinize if the real-estate apartments are value-for-money and tick your boxes of desire.

Remember, the investment does not end at just securing the four walls of the apartment. It goes beyond the realm of statutory charges. To break it down, here are the extra charges that you might have to incur: 

  • A Stamp Duty
  • A Registration fees
  • A possible Advocate Fees
  • A Home Loan Processing Fee. 
  • TDS
  • Society Administration Charges
  • Possibly a parking charge

           

  1. Clearing Debts 

One must have a cleared account when it comes to previous debts. A low credit score renders difficulty to apply for loans and the onus is upon the buyer to manage and adjust his/her finance when it comes to debts.

 

  1. Your Requirements

 

We believe that a person’s decision-making relies heavily on the requirements that surround him/her. As a potential investor in the real estate market, your choices and needs should be at the highest priority. Because let’s face it if you don’t get remotely what you want, why would you burn holes in your pocket, right? 

So, along with location and your financial stature, your bucket list matters too. Now, we are not saying that you should not be flexible when it comes to demands, but it is necessary to match your needs with the available options.

Whether you are going for your dream house, one that you have been weaving and mapping in your head along with your family, or an investment for the future where you just seek a good ROI, the ball is always on your court to decide which direction to step towards. 

 

  1. Nature of the Property 

 

Usually, this is something that is taken into notice foremost by the elite section of investors but let’s be honest, everybody dreams of a big, spacious house with amenities and a good community. It is you, however, who would need to draw up the list of things that different projects are providing and accordingly come to a reasonable conclusion. It could be the square foot area, the number of bedrooms, size of bathrooms (yes, they matter too!), furnished or semi-furnished, the various options available are there to be scrutinized and analyzed. If you want an investment where you seek a recurring return as rent, you may look into ready-to-occupy flats, whereas the ongoing projects are a good scope of putting your imagination into the construction and design. Ongoing projects usually render less cost than completed projects. Real estate developers like Uttarayan provide you with state-of-the-art amenities that give a chance to hover through beautiful options as well as sprinkle some colour out of the picture of your dream house you have imagined.

 

In conclusion, if you are someone who has been looking to invest in this sector, you can never be too early. This is a domain that has relentlessly pushed itself upwards, driving the economic growth of an area.

 

Probably the reason why people often quote T Harv Eker as:

“Don’t wait to buy real estate, buy real estate, and wait.”