Making an entry to vast, uncertain and volatile Indian real estate market is seem to be intimidating for both developers and home buyers. Needless to say, investing in Indian real estate is a lucrative option. It is the tool for building wealth, to be used in the future. Thereby, more and more home buyers are showing interest in buying 2BHK and 3 BHK homes in Pune. The city has been acclaimed to be promising real estate hub of western zone of India. Factors like the emergence of the IT industry, educational institutes, salubrious weather, cosmopolitan life can be attributed to its popularity as real estate epitome.

A Comprehensive Guide to New Investors in Real Estate

A comprehensive guide can help new investors in the city to increase the chances of building wealth while reducing the risks factors. This article excerpt will highlight steps to be taken before buying a home in Pune.

 

Market Research

Conducting market research before stepping out to look for a property is highly recommended in today's market scenario. With a number of a project coming up in Pune, it can be confusing for a home buyer to choose the right property as per their requirements. Market research is likely to increase the chances of investing in high potential property.

 

Make sure to look for all project information including price factors, competitive pricing, locality, neighbourhood, upcoming infrastructure and development plans of regions. Then you can finalize the property purchase decision based on your budget and requirements.

 

Beware Of Frauds/Scammers

For home buyers, no amount of precaution is enough when it comes to the integrity of developers. You must ensure to check the legal paper of the property so as to prevent yourself from falling into the trap of any scam or misconduct. The best way to secure your purchase is to look for RERA certified property.

 

Property Analysis

It is no secret that home buyers in Pune must analyse the property rates before taking the final plunge. It helps you not to pay an unfairly high amount in a property. Also, make sure to research on the potentiality of the property (prospects on ROI). The analysis will let you know how much could you yield from the property in the future.

 

Residents’ Feedback

Resident's or neighbour's feedback could be paramount as they could give insight into the various information concerning to surroundings, property market, rental rates, locality, civic amenities, upcoming projects. Residents of the project could give a deeper overview of the ins and outs of the project's facility.

 

Action Plan

The newbies who have very little or no knowledge of the real estate industry, are advised to decide on the type of real estate investment they want to venture into and why. Start with preparing an action plan as it makes it easier for you to envision your investment plans.

 

Location Factor

It is the most crucial factor which you cannot afford to ignore while decided on buying a property. The location of the property must be well connected to all parts of the city. It must be equipped with civic amenities such as schools, colleges, market, health care centres and so on.

 

Stay Calm and Patient

The process of buying a home in Pune is not an easy feat. It takes a huge amount of time and efforts to get the final solution. Do not make a hasty decision in a hurry; instead, you should have enough patience to grab the best deal. Refrain from taking quick decisions as it might land you paying heftily for the property which is nowhere close to your requirements and expectations. Lastly, ensure to complete the due diligence on your finalized property.

 

The best way to know the nuances of buying home in Pune, one can hire the service of a channel partner who will assist you throughout the process of purchase.