Why would you invest in real estate?
There is an old saying that you can only save money by buying a house. There is always a chance of sound income from rental properties without doing much work. There are many success stories regarding ‘house flipping’- this term is used by real estate investors to describe residential redevelopment. In this, one can either buy real estate properties at cheap prices and sell at high prices or buy such house that needs repair and fix it up before selling for profit.
For whichever cause, you want to try real estate investment, just remember it will require some effort and the right mind set before investing your hard earned money.
Determination is Must.
There is no such thing as easy money. So, before you take a single step, think twice, as investing in real estate and earning money is not a cakewalk. There is always a huge legwork required in renting out a property and house flipping. The goals have to be realistic; and the execution must be planned carefully.
Swot and then make decision.
Research is the main aspect of investment in real estate; so, never forget to conduct a lot of research about it. Go online, check for price trends in several locations, and try to know which location has given maximum appreciation in the past few years. Attend seminars to gain more knowledge. Get in touch with the experienced investors who have been investing in real estate over a long period of time. Take their suggestions and insights about the market.
Consider buying a property at a conservative price. Look for condos, 1 BHK apartments or dormitories near schools. Such kinds of properties are affordable. Well maintained houses can be found in provinces where real estate business is booming. These types of investments will give you the real taste of real estate industry and will tell you whether the endeavour will work in your favour.
For example, properties in Wagholi are the most sought after these days. Projects like Nyati Elan in Wagholi, Pune have been selling in good numbers in both the prime and resale segment. Getting a property in such locations which are located in the outskirts of the city will give you many options for investments as the prices of properties in such locations are quite affordable and the home loans payment schemes are always designed to help the home buyers own a home as soon as possible.
Real estate is not a bubble; rather, it is a healthy market. As per a number of data, most of the foreclosures are at the lowest level since 2000 and thus, no one would be burying themselves in debts buying a home.
The most prominent thing is that there has been no speculation in the current real estate marketplace and this way, investing in real estate as small time investors could gain you much profit. There are many online real estate portals that help knock down barriers of researching and investing in real estate. There are also several online tools available that would help you calculate cash flow and keep you posted on properties with potential rental income. There are many property management services in cities which would help you manage your investment. They would take care of the documentation and other processes as well while you will be reaping benefits out of your investments; though you will be charged a certain fee for the services. Such companies which are into property management provide end to end services; also if the property is vacant they do the maintenance for you.
Looking at the market where most of the investors are getting good returns to their investments, it’s worth taking a serious look at real estate.
Also see properties in pune for investments: