Common Real Estate Investment Mistakes To Avoid

Investing money in real estate has become one of the most profitable investments. A well-thought investment in residential real estate could bring profitable returns. Indian realty is set to touch new heights and attracting investments globally. Top builders are entering the industry with state of the art projects in Northern India. These projects are skillfully designed and customized as per the needs of the millennial. Chandigarh is one of the top hot spots in the residential market and hence, buying a house in Chandigarh and nearby areas are the preferred choices of people looking for a quality life.

Make your investment decision wisely and prepare yourself for your next purchase. Ambika Realcon is one of the reputed builders of the region and offers the best housing property. If you are looking for House for sale in New Chandigarh, then head out to Ambika la Parisian.

While it Could Be Confusing To Invest In Real Estate, You Can Start Making Things Simpler By Avoiding Making the Below Common Mistakes:

Not Assessing Your Finances

The most common mistake of all times is not evaluating your finances. It is important to keep a check on your credit score and maintain it for better loan options. CIBIL score plays a major role in getting your loan approved and hence, it is advisable to make timely payment of your bills and dues.  Use money management apps to budget your expenses and save for your dream home.

Not Counting The Additional Expenses in Overall Housing Cost 

Another mistake people tend to make is not taking into account the additional expenses and costs while buying the house. Make a list of all the additional costs involved before making the final deal. These hidden costs include stamp duty, registration fees, maintenance deposit, interior cost (furnishing), service tax, etc. Evaluating the overall cost will help you to invest in the property within your range.

Not Determining The Credibility Of The Builder

Not going for a reputed developer could land you up in trouble with the housing investment. Opt for reputed builders and research on the past or ongoing project details of the builder. Ensure that the project is RERA certified for safe transactions. Focus on the quality of the construction builder has used in the project and the amenities provided. Look for additional facilities being offered along with security features. Opt for eco-friendly projects with energy-efficient technology.

Not Doing Market Research

Not researching the type of real estate to invest in or the right location is another common mistake and would lead to a reduction in returns. Choosing the location with good connectivity and accessibility is the very first step while looking for a home. Narrow down on the type of house you are looking for like 2 bhk, 3bhk or a penthouse.

Read Here: Promotion of Affordable Housing.