Why is Indian Real Estate an attractive investment option for NRI?
4 lessons from 2019 that home buyers should keep in mind when buying a home in 2020
Your past is all about learning lessons with some good and bad experiences. The start of a new year is your key to look back and figure out how you can make the year 2020 better for you. The past year witnessed a lot of ups and downs in the real estate sector.
Some of the important announcements included:
Union budget 2019-20 announcement for a deduction of Rs 1.50 lakhs on interest paid on home loans.
GST reduction for properties.
Reinvestment of capital gains for individuals of up to Rs 2 crores, in two homes.
Increase in the standard deduction for salaried people, to Rs 50,000from Rs 40,000.
Here are some lessons that will probably help you make a better decision when it comes to buying or investing in your dream home.
1. The Correct Market Time
Usually, the real estate market is attractive 365 days, but still, there are times when there are offersand discounts that can be beneficial for you. Ready to move-in homes are always the preferred ones. What continues to be the regular norms are the attractive price options, flexible payment plans on new launches or during festivals. But this should not be the only criteria to choose your home.
2. The Right Builder
One of the most important things to do before you finalize your project is to research on builders and then choose the right one. Check the previous track records of the builder/developer. This will help you to get an idea about the kind of quality projects that they have delivered in the past. Also, a research will also be useful to find the financial stability of the builder in the market.
3. Smart Location
Choosing the right location that gives you the convenience that you need is one of the top criteria when you look for your ideal home. Hospitals, educational institutions, malls, transportation all in the vicinity will make your life a lot simpler. Also, research for the upcoming projects in that area, this will add value to the property price in the future.
4. Loans and EMIs
With different banks coming up with various home loans and EMI options, to choose the right one can be a tedious task. This is the investment of a lifetime and any wrong decision can affect your future. Do proper research on the various home loans and select the one that suits your budget and also gives you good investment returns.
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