|Buying Property Tips#1: Choose the Right Location|
|Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.|
|Buying Property Tips#2: Study the Local Market Dynamics|
|It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.|
North Bangalore has connectivity to the Central Business District and the airport through the Outer Ring Road. Also the road has major connectivity to a number of locations in South Bangalore. Spurred by numerous developments in the area, other projects like elevated expressway will also ensure seamless travel. Supporting the connectivity through the ORR, there a number of infrastructure projects being planned to further improve connectivity of North Bangalore localities.
Projects such as Metro Rail, Peripheral Ring Road and high Speed rail Link are some of the projects initiated by the government bringing a lot of buyers to North Bangalore.
Apart from connectivity, the presence of a number of IT parks in the neighbourhood like the IT Investment region, KIADB Park and Devanahalli Business Park has accelerated the demands to the locations in North Bangalore.
The location also attracts a number of developers and they come up with a number of new projects in the area. Listing a few:
The residential development by Shriram Properties, Shriram Greenfield is strategically located in Budigere in North Bangalore. The project offers 2BHK and 3BHK apartments of variant sizes. A 2BHK apartment in Shriram Greenfield varies in between the size range 928 square feet and 1212 square feet and that a 3BHK apartment is of 1330 square feet in size. The project is spread over 16 acres of land with 9 blocks each having 19 floors. This makes a total of 1645 apartments that the project has to offer. The project is loaded with a number of amenities such as:
|Buying Property Tips#3: Choose the Right Property|
|Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.|
|Buying Property Tips#4: Do the Math Properly|
|Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.|
|Buying Property Tips#5: Consider Additional Expenses|
|When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.|
- A well-equipped Club House
- Swimming Pool
- A theatre
- A multipurpose hall
- Sports facilities
- Play area for children
Other features include plenty of open space, intercom facility, security services and landscape gardens.
A residential development by the Mitaal Builders, Mittal Palms offers its buyers 2BHK and 3BHK apartments that are loaded with all the basic amenities. The project is spread over 3 acres of land. The 2BHK apartment in Mittal Palms ranges in between 1235 square feet to 1300 square feet and that a 3BHK apartment ranges in between 1350 square feet and 1980 square feet. The spacious apartments are uniquely designed that offer complete facilities of natural light and ventilation. The total number of apartments in this residential developments are 224 that constitute the seven blocks of the society. With a bunch of amenities like swimming pool, play area, indoor rooms and outdoor courts, swimming pool, gym, gardens etc. the project meets the needs of the modern buyer of today.
In the End
North Bangalore has something to offer to everyone. It is a part of Bangalore that has a range of apartments from mid-range to luxurious and a number of builder homes to offer. The social and physical infrastructure of the area is well-developed and attracts a number of buyers towards the new launches in the area.
|Buying Property Tips#6: Inspect the Property|
|To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.|
|Buying Property Tips#7: Pick the Right Financing Option|
|While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.|
|Buying Property Tips#8: Invest through Equity|
|One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.|