Property investing–Risks,benefits of property investment Buying, Renting and Selling Advice


Originally posted on December 16, 2019 @ 4:02 am

Home Sweet Home – Buying, Renting and Selling Advice
It is often said that, “Home is where the heart is”. While a home is what makes your life easier, finding one can be an extremely daunting task; ditto for selling and renting.
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You cannot go wrong while doing this simply because it involves a whole chunk of money. Mumbai real estate demands are soaring with people all over the city prying for a perfect home to call theirs. When it comes to properties, there can be 3 kinds of people– the buyers, the sellers and the tenants.
The idea of buying a brand new property may sound like music to your ears, but if you take one step in the wrong direction, then you could be gone for good. It involves a whole lot of money and it is advisable to follow some rules and make use of certain tips before you take the plunge.
  1. The first and the most important rule is to ask yourself if you really need to buy a home. If you believe that you are a nomad and can hardly live at one place for long, it is better that you mull over your decision to buy property. Buying property is like committing into a serious relationship. You need to invest in a lot of time and effort, not to mention money.
  2. If you do not belong to this category, then you must make sure you have enough funds to support your decision. Your past credit history should be anything but faulty. If any discrepancy comes into notice, your reputation may get tarnished and your options will visibly reduce.
  3. Be realistic. Avoid opting for a property that is way beyond your budget. You may have drawn a perfect plan regarding the repaying of loans, but things may not necessarily go as per the plan and you may end up broke. Also, the location matters. Buy a property which allows access to good schools, at least one shopping mall, grocery stores and the likes.
  4. Selling of property is as important as buying one. You need to make sure you are selling your home to the right person at the right price. When you decide to have prospective buyers come to your place to have a look make sure you de clutter. This is the most important rule to be followed. Do not have candid family moments framed in photographs bracing the walls. The prospective buyers want to visualize their ideas of a perfect home, not yours. If any furniture or fixture is broken, mend it. Keep everything prim and proper. It is advisable to always better to make all the agreements clear. No details should be ambiguous. Hire an agent if need be.
  5. Sometimes, it is renting of homes that leave people flustered. While renting a home, it is very important to see the fine print before jumping to conclusions and making a decision. When you hire an agent, make sure he is trustworthy. Often, scam artists charge a huge sum of money promising a good deal, which at the end of the day, turns out to be anything but good. Be ready with your deposit money. The owner will ask for a deposit before you enter the home. Double check the agreement. Go through the rules and regulations. Never keep any doubt unclear. Always clear your doubts regarding bills. Some landlords include the water, electricity and internet bills in the rent amount, some don’t. Also clear the fact whether you would be staying with a housemate or not. You do not want last minute surprises.
Author’s Bio: Joseph is one of the leading agents in the Mumbai real estate industry. He is known for giving quality advice to his clients when it comes to property. A B.Com graduate, he has a serious passion for sports and loves watching cricket in his spare time. 

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