Real estate can be the best opportunity for those who are willing to achieve financial success in their life. However, it can be daunting for new investors in real estate as there are no specific manuals or guidelines to follow.
It’s always what you plan and what you do while keeping yourself on the right path where you can get much better chances of achieving success. If you are a first-time investor and are worried about where and how to invest, this blog could offer you a few solutions
Let’s begin with some essential tips that you need to know. Following these tips will make you understand the difference between an ordinary investor and a high-end investor.
Define Your Budget
The first and most important rule before investing in real estate is to define your budget. It’s best to start with a small budget as there would be a low risk of getting more significant losses. You can further increase your budget gradually over time.
India’s real estate market is expected to grow to INR 82 trillion (US$ 1 trillion) by 2030 while ending with 13% of GDP by 2025. However, hospitality, residential, and commercial real estate are also increasing significantly with the growing need for property in India.
Choose Your Location Wisely
Becoming a successful real estate investor requires researching and choosing your local market sensibly.
Focus on the property’s location as per the demand in the real estate market and invest in the areas with much concentration of the popularity and availability of all basic amenities nearby with easy access.
It’s best to approach the localities having low-crime rates, easy access to parks, medical care, shopping malls, better conveyance with public transportation, and are suitable for families. With an increase in demand for residential property, ACE Starlit, located in Noida Sector 152, brings you many amenities with a luxurious and heavenly lifestyle.
Maximize Your Real Estate’s Worth
As a new investor in real estate, you can enhance your property through value-added services that might not cost you thousands but will undoubtedly increase the worth of your property.
Try to maximize your real estate property’s worth by adding several amenities, for example, adding various upgrades and advanced features for better maintenance. Make your investment look appealing to the eye of your buyer by setting up new bright lighting, refurbishing the ceiling with a modernly designed gypsum ceiling, or with chic window frames for a much more mesmerizing interior.
You can enhance the kitchen to give it a more advanced and modern look. Update old cabinets and door handles and replace them with multiple choices available from. You can add some vintage-style knobs for a more elegant appearance.
Spruce up the bathroom by adding new shiny white painted trim and blue walls, modern cabinet pulls with a lantern light fixture to give a sophisticated look.
For a more pleasant look, you can add a few accent pieces to upgrade the exterior of the house to give a welcoming appearance which will attract the buyers and look appealing.
Be Aware of Your Tax Laws
It’s crucial to have a better knowledge of tax laws before investing in real estate. It is essential to consider whether you have to buy or get the property on lease. Buying a property will generate an interest rate on your housing loan to an average of 7%, which is comparatively more than the interest rate for a leased property i.e. lower than 3% on average.
When purchasing any real estate property in India, staying considerate and keeping records, and complying with the tax rules in India will enable you to make a knowledgeable decision always.
A suitable investment at the right time and place will help you earn much more profit than others.
ACE STARLIT – RERA REG NO. UPRERAPRJ677294 | www.up-rera.in