If you are a first-time investor, investing in real estate can be tricky. The challenge that most buyers face is finding the right property that fits their budget. The best builders in Kochi are now offering a wide range of apartments, villas, and commercial spaces. Now it is your turn to invest in the right property. So, how to invest in the right property? Let us see some aspects:
Decide the location
The first step in property investment is to find an ideal location. Many factors decide the worth of your investment. It could be your native city, working location, or convenience. Localities within the city with rapid development are in high demand and prices will be comparatively higher than the remote localities. MPS builders one of the best builders in Kochi is offering luxury flats in Kochi at an affordable price. Make the right choice depending on the purpose of your investment. For example, if you like to live in an urban living close to your working place, then choose the apartment near the city.
Estimate Budget
In your lifetime real estate investment is one of the costliest investments. Depending on various factors the property prices can vary. Apart from your income and savings capability, your credit card rating also plays a vital role in getting a home loan. Getting a home loan is difficult unless you have a reasonably high credit score. The statutory charges associated with the property purchase are one of the aspects that increase the cost of real estate property. The charges approximately cost around 10% extra.
Booking property at project launch can be more profitable. At the project launch, the developers are first displaying their project and also the gauging publics’ perception of its project. Often the builders quote 10-20 % less price in its launch.
The factors that you need to consider with a new (under construction) real estate property are:
Booking Amount: You need to pay the booking amount to initiate the purchase of a new, under-construction project and it is often done after inspecting a vacant land and an approved plan.
First Deposit: Soon after booking you need to pay the first deposit which will be your self-contribution if you are going for a home loan. Loan disbursement will be initiated only after this.
Completion Time: Builders usually take 3 – 4 years for the completion of the project. Make sure about the timelines of the project.
Withdrawal Clause: If you want to exit the deal mid-way, discuss with the builder about the withdrawal clause? How your money will be refunded and how much will be your loss.
Warranty: Newly constructed buildings generally have a year warranty for structural faults.
Finish House: Get to know from the builder in what finished condition will the house be delivered to you. Like final paint, electricity fitting, plumbing, flooring, etc.
Get to know your market
Get to know the current market trends, interest rates, prices, and development. This will help you to understand the current market and plan accordingly. If you find the property price is increasing rapidly in an area, invest soon to get a better return in the future. Compare the properties and find the pros and cons of each. Never blindly trust any agent and always get a second opinion. It is very important to check the legal clearance of the property you buy.
Know your needs
Another factor that you may overlook during the process of property investment is to know the actual purpose of the investment. For some, it may be a dream home, and for some others, it may a profitable investment for their future. And also some of you will have some aspirations like having more space, a garden, play area, security and much more. Now the best builders in Kochi are offering apartments and gated villas with a wide range of lifestyle amenities. Plan all these while calculating the budget.
Size and type of property
You may find confusing while choosing the property as you may find plenty of properties with different size and type in the same location. Depending on the location, size, age, and type of property the land price can vary. For example, the price varies depending on the number of bedrooms, amenities, and quality of materials used. And also the price of ongoing projects will be comparatively less than ready to occupy projects. Best builders in Kochi like MPS offer you apartments and villas at an affordable price.
Builder’s reputation
Choose the best builders in Kochi like MPS that offer reliable services.
We assure you:
- On-time project completion
- Good flat layout
- Quality project
- Superior quality construction
- Quality of installed fittings
As one of the best builders in Kochi MPS builder can help you to choose the right property and make the right decision. Stay up-to-date in the real estate market trends and be a smart investor. If you invest in the right one at right time a property can be a valuable asset. So waiting for what? Make most of the opportunity by investing in the right property at the right location!