How to Buy Your First Investment Property in 2021?

December 14, 2020
How to Buy Your First Investment Property in 2021?

Over the years, real estate investments have been the most preferred choice of investments for all those looking to secure their future. The fact that most businessmen and entrepreneurs have made their money by investing in the real estate sector should answer your doubts on what you need to do with your wealth. The fact that many of these successful investors started small and then made it big should help you get an understanding of what you need to do with your wealth.

  • Find a real estate agent:

In order to find properties that are worth investing in, you need to have a firm understanding of the sector and what better way to gain the same, by having a real estate agent by your side. A real estate agent will help you zero in on properties such as 2 BHK Flats in Vile Parle East while eliminating the ones that are not worth considering. Once you have finalized or shortlisted a few properties that are worth investing in, you then need to speak with the developers, and check for documentation and whether or not the developer has the required clearances. Once that is out of the way, you then need to discuss what the down payment for the property would be. Anything above 20% of the total value of the flat should act as a trigger to steer away from the deal.

  • Find a profit-making market:

When investing in a property, you need to comprehend that not all the property rates in a given location will appreciate equally. Location plays a crucial role in deciding whether or not the value of your property appreciates at the same rate as you expect it to. You need to discuss the same with your real estate agent/advisor and analyze the market trends and look for areas that are currently in demand. It has been observed that areas that are highly in demand are the ones where flat owners are able to find tenants to rent out their place relatively easily. In Mumbai alone, properties in areas such as Vile Parle are constantly in demand, as it is one of the most ideally located places and everything from shops to malls to medical centers is a stone’s throw away.

At VijayRaj Residency, we set some of the highest standards in the real estate market and are constantly striving to achieve perfection, which is why we are among the top real estate brands to invest in anywhere in the city and the country.