The Role Of Investors In The Mumbai Real Estate Market

Buy sell Property & Real Estate Investment Guide

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.

The real estate market in Mumbai has changed drastically over the last decade. Since the city has leveraged the number of job opportunities with the advent of the corporate and BPO culture, it has also welcomed a large number of migrants who are always in search of better pay in order to lead a good lifestyle. With the increasing population, the city has now started lacking fresh space yet it tries to accommodate almost everyone. The introduction of gadgets and gizmos has also altered everyone's preferences to a great extent. Moreover, the joint families and the people who once lived together are gradually parting ways. Today, people demand for their privacy and nuclear living is very much accepted in the society. Due to this, the demand for housing has increased a lot in the past ten years.

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.

Not just families, even young professionals who earn a decent amount of pay desire to stay in a separate home and lead their life in their own way. The elite class people are nowadays investing more in real estate as there is more demand for it. Residential property in Mumbai is usually treated as exclusive for the people staying in other under developed cities. If you are looking for buying a home in the prime locations of the city, you may have to agree on a much higher budget as the location you stay in speaks a lot about you. While a lot of the developers are planning to redevelop the interiors of the city, the redevelopment bug has struck the common masses. The people staying in the torn out buildings over the year stay up a bit more with a hope that their property may go into redevelopment and this may prove beneficial for them.

Real estate has always appealed more to the big budget investors. The buying and selling of residential space is a big business in itself today. For designing a particular dream home, a lot of people are involved; it is actually a combined effort of a number of professions that aid is in ensuring that the place we stay in is one of the most comfortable places in the locality as per our needs, budget and preferences. A new wave of digitalization has also gripped developers to sell their residential property in Mumbai on various web portals. With people having less time and busy work schedules, this is definitely a convenient option for them.

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.
Updated: February 23, 2018 — 12:46 pm
Property Investment Buy & Sell Guide © 2017 Frontier Theme