|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.|
Jaipur is one of the largest cities with the rich history, culture and heritage. And as an investor, you can find different types of real estate properties as per your expectations of both requirement and budget. The real estate in Jaipur offers both types of properties – commercial as well as residential, that are both reasonably priced and conveniently located in order to cater every all type of requirements of a buyer. You can either choose an already constructed Jaipur flats and office spaces or buy a plot to build the home as per your design.
Why Jaipur can be an ideal option to settle down?
As the population in the city is increasing rapidly, the demand for property in Jaipur will also augment swiftly. Moreover, growth will increase due to the large employment prospects as the Jaipur economy takes root, due to the arrival of MNCs, IT companies, and various other industrial plants. Besides the industries, Jaipur boosts for well-developed education system and infrastructure as well. Safety and security for the people living in the city is also available. Overall, Jaipur is one serene and peaceful place to stay with family.
|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.|
Build or Buy? Take a Right Decision
There are more things to decide than choosing right tiles, colours and curtains for your home. It is very essential to know whether you want to buy a flat or build a house.
Ask yourself: Are you ready to shift to a 2 or 4-bhk flat in an apartment? Are you ready to shift in a flat that is constructed as per the design of a builder, or rather you want a house as per your design? Also, are you ready to live in an independent house?
Evaluate new neighbourhood: Choose anything, but make sure you know who will be your neighbour, what all will be there, access to market and shopping complexes. Moreover, know about potential homeowners' association fees, rules and regulations; some might be extremely high-priced and strict.
Be an agent-savvy: Keep in mind that a real estate agent who is working to sell homes is actually working for the builder and not for you. Also, various states regulate on how agents can deal. In case you have own agent, let him know about your preferences while looking for a house. Also, make sure he accompanies you on your first visit at any property.
Always give priority to your preference and check with the agents before finalising whether you want to build or buy the property. You can check the plot at Jaipur expressway, along with other areas of the city for some of the best options.
|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.|