The latest announcement of allocating Rs.1.75 Billion* for road repairs and resurfacing in Noida by the Authority is quickly helping the to-be investors of real estate in Noida in taking the final call. Our strategists from the Wave Group have laid down few questions to ask yourself, to help you know whether or not you are ready for the venture.
1. Have you saved enough to meet your expenses?
Investing in real estate involves a large financial transaction. Make sure that you don’t need to pull in your horns later! To be financially ready to make an investment, take into account that you juggle your expenses such as home maintenance, debts, daily requirements, emergency cash and rest of your liabilities.
2. How strong does your ground stand?
Investments are a decision for lifetime. Like any other sector they are subjected to change as per market needs and to cope up with the wavering situation, flexibility in policy terms is a prerequisite. A coherent approach serves as a solution for the purpose.
3. How much research efforts did you put in?
Although your friend has talked about a real estate developer, doing a comprehensible research work yourself may save you from getting fooled. The neighbourhood and available facilities such as schools, colleges, job resources, etc. are amongst the most important influencing factors for the good sale of your to be property and hence a substantial idea of the same may help you to foresee the coming trends.
4. How promising are the returns from the area?
There’s no point in investing in an area which is under constant undulation, be it from infrastructure or population point of view. Ensuring that the area gives you easy profits is vital.
5. How aware are you about the tax schemes?
A proper assessment of the tax policies based on the neighbourhood and its expedience is crucial. Property taxes aren’t standard across the country so having an in-depth knowledge is helpful.
6. Do you see the area as a developed land in near future?
Being cognizant of the constructive works, taking place in the area such as conveyance facilities, bio-waste management systems, food resources, etc. aids in determining property values.
7. How credible the developmental process is?
With more number of people being interested in sustainable living, investment in property with quintessential blend of ecology, economy, politics and culture stands out to be more beneficial.
8. How desirable you find the location to be?
For a top-notch sale, the location of the property remains the prime attraction. So, considerations should be established keeping in mind the current resource availabilities as well as upcoming advancements.
9. How efficient and committed your real estate advisor is?
Starting from marketing plans to loan provisions, tackling every issue single-handedly may get troublesome and time-consuming. A dedicated and structured team of workers may therefore act as a one-stop solution.
10. How well are you acquainted with the local differences in the area?
Shaping the property into a commercial or residential slot requires a thorough understanding of the cultural differences that may arise while selling the property.
So know your answers and make your move!
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