|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.|
Goa's real estate sector hasn't yet recovered from the slowdown; even year 2014 isn't likely to be a great year for the builders, which are active in the real estate market. However, the tight market conditions present a host of opportunities for the prospective property buyers.
The realtors are thinking about giving freebies to attract the buyers in the form of free parking spaces and giving buyers exemption from paying the stamp duty.
However, a large number of realtors are holding themselves from offering such freebies due to the rise in the prices of the raw materials, especially cement and sand. And they are also not ready to lower the property prices; this is why prices remain stagnant throughout year 2013.
Lack of demand from the NRIs also caused slowness in the market; these NRIs make a large base of customers for the premium construction projects. Most of the NRIs who show interest in Goa properties come from countries, such as Singapore, Middle East and UK. The weak economic conditions in these regions affected the buying decisions of these NRIs.
|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.|
The leading realtors in the market are optimistic about the market. They know the market has come a full circle and sooner or later will pick up the momentum.
If you have been toying with the idea of investing your money in a nice property for sale in Goa, you should wait any longer. This is the idea time to own the luxury villas in Goa as the prices are stabilized but may go up in the coming months.
Luxury villas in Goa are arguably the best properties that Goa has to offer to NRIs and the rich from India's metro cities. Apart from owing a mind blowing property in the party capital of India, you also get to own a property that is strategically located near the beaches and comes with a private pool.
Last, but not the least, do not forget to check out the luxury villas in Goa on the Goa based property portals. Also make sure that you buy only those villas that have been developed by reputed builders so that you never get trapped in a disputed property. When you buy from a well-known developer, you are assured of the legal status of the property. A real estate expert or agent may also prove a great resource for finding the best property in Goa for sale.
|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.|