What Should You Consider Before Investing In A Property In Bangalore!
Saturday, October 22, 2016, 6:00 AM | Leave Comment
Bangalore, the IT city of India, has a lots of offerings when it comes to growth opportunities, with its stake across different sectors and different domains, be it information technology, biotechnology, pharmaceuticals or real estate.
If you are a smart homebuyer and is planning to own a property in Bangalore, you may be spoiled of a number of choices, but the final decision should be made by checking the overall aspects of property.
Location and price of the property are the most important things to consider, followed by the amenities provided by the builder. The choices for residential property are many, ranging from 1BHK to independent houses and villas.
Selecting a location for a perfect investment can be a tough decision to make, but the property should be chosen as per the suitability and the needs of the buyer, not to forget that it should be pocket friendly as well.
You should know that real estate investment in Bangalore means entering a very competitive market, with developers and agents competing for your attention.
Here are some of those important points to consider, which most of the home buyers usually overlook, when looking for an apartment in Bangalore.
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Check the listings
When looking for properties, check the listings and advertisements posted by agencies. Internet can be most helpful to you in this regard, and you can conduct an extensive research about Bangalore real estate market. It can be time saving and will help you to come across the most reputed and trusted the real estate agents as well as the listed properties.
Also public registry offices can be a good yet quite old option, as these are government agencies that record the titles of all properties and are the first to know about the properties available for sale or lease.
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Resale Property Market
It has been more than 2 decades since homebuyers in Bangalore find it better to invest in apartments than row houses. This means that there are more old buildings that were available in the first phase of the housing development, and they are little devalued.
These buildings can prove to be better options. Resale apartments are sold at comparatively lower prices than the brand new homes. After finding a new one, the repair work can be done and changes in some of the older designs can be made.
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Explore the Neighborhood
Some property agencies that deal in selling properties also offer potential customers with the opportunity to drive in usufruct for a limited time.
The buyers can also live in apartments or homes that are located around the viable property for a few months, explore the neighborhood as well as the nearby markets and other amenities, and decide whether or not they like the property and the surrounding areas.
For some buyers this can help in the process of decision, knowing the lifestyle and how to be living there. This will also give them the opportunity to talk with the owners, without the agency intervention.
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Study the Rental Market
Try to learn more about the rental market of the area you are interested in. Location is the key for a fruitful ROI. Many homebuyers and investors these days are making smart moves to put money in the prime locations of the city than in the far flung areas. So if you find that the returns on rentals are great in the area, give it a shot and put your money.
Summary
Bangalore has been one of the most lucrative and safe options from investment point of view. Taking help of real estate companies or looking for resale flats can be cost-effective and hassle-free ways to strike a deal.
