How Should You Invest in the Real Estate during Covid19?
The outbreak of the pandemic around the world has slowed down the economy drastically. The world had paused for a while, but the world is acclimating to the changes. The government of India recently stated that we need to live with Covid-19 while taking all the precautionary measures. There is a constant urge to adapt and make use of all the resources available in hand and make the best out of them. The pandemic has introduced us to the new concept of work from home. And now work from home has become the new normal. It has made life easier and more comfortable. There is a huge cut of stress, from commuting to work every day and getting stuck traffic. There are more pros than cons of working from home. People are looking for a spacious home with more rooms so they can turn a part of their home to a comfortable office space. Though there is an economic slowdown throughout the world, the real estate market is flourishing. There is a high demand for residential plot and villa properties in Bangalore. Investing in a real estate property is the smartest decision you will make during the pandemic
Things you should keep in mind before you invest in real estate during Covid19:
Research is the key to making the best investment. Research is the first step to any investment; it lays a sturdy foundation for a successful investment. Before acquiring or investing in a property do some ground research about the property. Make sure the property is located rightly, has good connectivity to roads and highways, and is accessible to public transportation. Cross-check if the property is closer to good entertainment centers, restaurants, hotels, educational institutions, and multispecialty hospitals. If you are not satisfied by merely researching online, go to the site with all the precautionary measures and cross-check until you are satisfied with the property. Enquire with the neighboring houses, stores about how it feels like staying in that area.
There are many premium villas properties in Bangalore and choosing one of the best luxury houses in Bangalore can be tricky. Get to know about the properties recently sold. Enquire about the price it was sold for, what are the amenities and facilities provided by other real estate builders. Ask your friends or relatives who stay close to that property. Compare the potential growth of different properties based on the area they are located in. The infrastructure of the area determines the value of a property. Good infrastructure like well-built roads, public transportation facilities, and accessibility to IT hubs, schools, colleges, and hospitals increases the potential growth of the property.
Find genuine builders:
Find out about the developer’s rating. Keep a track record of the builder’s history of executing and developing projects. Evaluate their performance based on the different parameters like the quality of construction, location, and layouts. There are two methods of evaluating the genuineness of the builder. The first one is the qualitative method and the other is a quantitative method. The quantitative factors involve the builder’s legal records, quality-testing mechanism, number of projects handled in the past, the delivery of the projects, and financial strength. The qualitative factors include the commitment and priority of the customer’s safety, after-sales service, and trust factor. A genuine builder will make sure the projects are delivered on time with the standard for quality.
The diverse ways to make a smart Investment:
Residential pots: There are several plots in Bangalore. Investing in real estate villa plots in Bangalore South or any part of this city is one of the smartest decisions you will ever make. When compared to other properties, investing in residential plots is a pocket friendly. If you are looking for a long-term investment with a small initial fund, then investment in residential plots is a go-to option. It is convenient to search for residential plots as there are many plots for sale in Bangalore South. When it comes to legal approvals and documentation, it is less complicated when compared to buying a home.
Villas: Live like a king in a spacious villa. During this pandemic, most people are spending majority of their time at home. Kids are at home and a spaciously designed home can bring in relief to them. One of the rooms can be designed as a play zone and they can enjoy their quarantine with siblings. It is one great way to have good family time. Adding on to this as we all know, working from home has become a new cool. People prefer a comfortable working environment at home. There are many luxury villas in Bangalore for sale. You can compare and buy the best property and rent the villa, it would be a reliable source of income throughout the year. Villas are designed for luxury and comfort. Most of the people are looking for peace and comfort during these challenging times and a spacious villa is their choice. Another added advantage of living in a villa is, you are comforted with a serene environment away from the chaos of traffic.
Apartments: The apartment is a good source of income. You can rent your apartments and get monthly income. It serves as a great asset. If you are moving to another city due to any personal reason you can always rent your apartment and get your partial source of income. It has good resale value.
Due to the current scenario, choosing a plot or a premium villa would be the best choice. Villas provide independent living. You do not have to worry about neighbors staying close to you. It provides you with great amenities for your entertainment as well. If you are looking for long term investment, then plots should be your call. It gives higher returns in a longer period.
Know the genuinely of the property:
After researching different properties and boiling down your options to one, make sure you check the genuinely of the property. Ask the builders for complete legal documentation of the property. Assess the title of the paper and make sure the title of the property is clear without any disputes. Read all the papers carefully and recheck with a property lawyer. Ask the builder for bank approval documents, encumbrance certificate, and make sure you tally the approved plan from the actual site. A property visit is a must to check the genuineness of the property. Make sure the property has a registered society. Apartment properties need to be registered with the residential welfare association. Last but not least, make sure the property has all its tax slips. If you are purchasing a resale property, then ask all the records of the tax slips from the previous owners. This will give you a clear understanding of the property.
With these tips, you are ready to find a house during the pandemic. Are you still wondering where to get your dream home in a safe zone during this pandemic? Here are some of upcoming projects in bangalore.