Real Estate is one of the most talked about topic in today’s world. Everyone is either willing to invest in this money minting trade. It sells like hot cake and we can’t deny the fact. Two years ago when I was planning to buy a home, I didn’t have the amount that I had to pay then for the same house that cost almost double the amount now. It is quite daunting for real estate buyers when to buy and when not to. Buying, selling and renting decisions are equally important for an interested person. Few tips can be helpful in making the day brighter and years more prosperous for everyone.
Tips for buyers, sellers and tenants
- Don’t delay the deal: If you don’t want to be in the thick soup like I had been by delaying the decision, buy it now. A real estate price shoots every month and every year. Delaying means creating scope of paying more in future. I paid a higher amount for my dream home but the second home I bought was a deal that everyone wants to crack. The value of the second home is much higher than what I had bought it for.
- Loan: If you don’t have the capital to invest, you can opt for the home loan option. That is one way to tackle the problem. You won’t believe that most of the people willing to buy a home depend on home loans than their savings. If you have been juxtaposed with the idea of getting a home with your savings or a sanctioned home loan, go for the second option. You can keep the savings for your future emergencies.
- Contract: When you are all set to buy a home, ensure that you have all the paperwork handy. Never trust someone’s words when it comes to buying a new home.
Note : If You are going to contract, do not forget to check Land Record online. Land Record” is a generic expression that includes rights such as the Register of Lands, Record of Rights, Tenancy and Crop Inspection Register, Mutation Register, Disputed Cases Register etc.
- Don’t be in haste: Hasty decisions kill your revenue. Wait for the right buyer. There will be buyers who will spend time browsing through the houses and in the meantime, you may lose on the potential buyers.
- Right Time: Look for the right time to sell. The best time is when most of the banks are offering home loans to the consumers. This is the best time to hit the nail. You need the best time of the year to come out and declare the right price to the potential buyers.
- Advertisement: Click real pictures of the house than a formatted one. This will give the buyers an impression of the sellers being genuine and the house being authentic too. It can be a new house or an old house. Winter will be the worst time to click photos. Choose a bright sunny season for this photo-shoot.
Are you of the tenants looking to move in to a new house? If yes, look for the various possibilities so that you have the right deal cracked.
- Check the competitive price of the similar house in the locality. There are many applications and websites that help you check that
- Water drainage system: Water is the lifeline of any society. Check with your landlord if the water facility is up to the mark and if you can have a look around
- Get everything signed and sealed by the owners of the house in the presence of witnesses so that there is no discrepancy later
If you are up for a new house and lot, selling your house or willing to rent one, these tips will turn the table in your favour. Every decision needs to be taken wisely. These tips are your guides and mentors in the journey of real estate decision making.
Author Bio: Mukul Malik is a Real Estate Entrepreneur who likes writing about Real Estate, Finance and Digital Marketing. He runs a popular Real Estate Blog Asset Yogi and lives in New Delhi, India.