When you’re investing your hard-earned money, you want to choose the best instrument. This is why you should consider buying property in Bangalore. Unsurprisingly, there is no dearth of options regardless of your budget. In order to make an intelligent decision when zeroing in on a house you need to factor in all variables that will add value to your investment. Location, price, rental rates, connectivity and amenities are some of the regular features to look out for.
However, not going beyond the obvious will prevent you from maximising your benefits. Here is a list of some handy tips that will help you gain more when you buy a property in Bangalore. You can find flats in Bangalore, villas and properties within gated communities. From Brigade Woods and Sumadhura Soham in Whitefield to Shapoorji Pallonji Parkwest, Bangalore has more real estate projects than you can keep count of.
Plan for a long-term investment
Typically, when it comes to real estate the benefits are higher when you stay invested for a long period of time, such as 10 years. If it is a prime location, you might want to hold on the property for longer. This will allow the worth of your asset to escalate and ensure that you get a good resale value. So choose a location wisely when you invest.
Buy at the right moment
Here’s something most people miss: property rates are susceptible to price drops before launch and when occupancy is nearly complete. At the pre-launch stage the developer is in need of finance and you can get your flat at a more affordable rate. On the other hand, unsold flats directly equate to lost revenue for the developer. So there are high chances of striking a good deal when occupancy is almost a 100% as well.
Make use of the subvention scheme
If you’re looking to buy a home on a budget inquire about subvention schemes with builders. This allows you to take a home loan and pay a nominal amount up front to block the flat. Till the property is under construction the builder will make interest payments to the lender. On possession, you will start paying EMIs. So, not only can you benefit from property appreciation by investing early, you can also get a home more affordably, as a certain amount has been paid by the lender.
Find a floor plan that meets your requirements
Today, with the wealth of real estate properties coming up, it is best to find a flat with the layout that you desire instead of making the changes yourself. You may end up defying legal regulations, make the apartment’s structure unsafe and your changes might dissuade a buyer in the future.
Curtail unnecessary expenditure
If there are fittings and furnishings you need to add or upgrade in the apartment, keep them to a bare minimum. Create a budget for these expenses and stick to it as you probably won’t recover the cost of these items when you sell the flat. Also, be realistic about your needs. So if you anticipate needing 2 parking spaces 10 years down the line and need only one now, buy one. You can invest in the second one as and when the time comes.
Get help from a reputed broker
Brokers understand the ins and outs of the business, have a vast network of contacts and know how to negotiate too. Finding a smart broker who is invested in your home search will go a long way. Not only will you find a good home, but you’ll be able to save as well.
Once you have taken these tips into account and decided to buy property in Bangalore, approach home loans by Bajaj Housing Finance Limited. You can get assistance to find the right property, in-person aid for site visits and help with documentation as well. Moreover, this one-stop shop also offers you a home loan of a high-value to make your purchase.