Tips on How to Invest in Your Dream Home!

Monday, June 3, 2013, 1:00 AM | 3 Comments

The global economy has been facing a low recently and the property rates have since then been more or less on a low. For investors this is the best chance to buy new properties since they could get some of the best deals in the market at astounding prices. You may be one of those investors whose been looking to invest in your dream home since quite some time but don’t have that finance to back you up.

But understanding the current state of the market experts give advice for investors old and new, on how to invest your finance wisely and what are the necessary steps on buying a property. It works as a basic guide on the A to Z rules of property investment.

  1. Know your Budget:

    It is crucial to know the amount of finance that you make available while investing in your new home. It does not do any good to get carried away after watching an expensive property which could essential end you up in debts. That is why the very first to planning a property investment is to fix on a budget and stick to it.

    Always make sure your budget is slightly less than what you can afford since that will prepare you for any additional expenses that may come along the way after securing the deal.

  2. Secure the Right Agent:

    Most of us while investing in new properties tend to research thoroughly on the options available to us in the market but are not that thorough with the options of multiple estate agents that are presented to us. We generally seek the first one that comes our way.

    Avoid being hasty while securing your agent, rather, find out multiple people who can offer you good deals through your contacts and seek out various meetings with them. Ask for their valuations on your case and compare these to seek out the one which you think can lead you to the best deals and is genuinely interested in getting you the best available on them market keeping in mind your budget.

  3. Do your research:

    To believe in the various valuations offered by your agent is one thing and to do your own homework relating to the property market statistics is another.

    When you have done your ground work you will be completely aware as to what type of properties the market is offering you currently and the price ranges that come along with them. It will also help you to channel your finance correctly since you will be well aware of all your options and maybe if you are not finding what you want you could withhold your decision and wait for more properties to become available in the market for you to scan through.

  4. A viable Business Plan:

    What most investors forget is the necessary to have a decent financial backing so as to support mortgage rates that come after the signing off the deal. They tend to invest lavishly in securing the property itself and fail to have a vision of how to go about the down payment.

    Make sure you a secure viable business plan for the future years to come so that you have a guaranteed cash flow and can trust your finances to keep flowing and so as not to affect your lifestyle and also to pay off the mortgages rates.

Be it investing in the upcoming residential projects in Mumbai for those set of luxurious apartments or getting a country home in London, property investment is all about planning and well timed execution.

Author’s Bio

Heather Wales owns a real estate firm in India which deals with the upcoming residential projects in Mumbai. She advises new investors on the basics of property investment and how to do it will proper planning and management.

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  1. 3 Responses to “Tips on How to Invest in Your Dream Home!”

  2. By Sobha International City on Jun 7, 2013, 5:53 am | Reply

    This is very nice post and have great information.

  3. By Ravi Rathi on Jul 16, 2013, 7:39 am | Reply

    Some great points.

    I feel it’s great if you’re going to a broker and selecting your home. But I would also like to suggest you to use the internet. There are websites today offering anything and everything, options to buy clothes, electronics, real estate, well anything. I was looking at this website 99acers and was able to see listings of many office and residential spaces which were available on rent and an outright purchase. I was able to locate a house in Nashik which not only fits my budget but also is set out as a holiday destination. I enquired about the construction and the prices and saw a difference in proce in the many websites, whereas at 99acers i got the best price and after talking to them i was able to get bank loan sanctioned too. I feel the net is a great place for everything and we should give it a go.

  4. By Charlie Brown on Jul 26, 2013, 4:43 am | Reply

    Finding the correct or the right agent is certainly a very important and valid point added here.

    In the real estate market people who wish to sell their property usually visit more than on real estate broker. The upcoming residential projects in Mumbai for example will have registered with a few online portals but are open to all sorts of brokers from across the city due to which the earning margins of brokers may or may not be as high. As such you need to be very careful with the transactions taking place as you may just get cheated or even looted.

    My personal suggestion on selecting the right agent is to look for suggestions from friends of who they have transacted with in the past as this way the chances of the transaction being legit are more.

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