The real estate sector in India largely contributes to the economy and GDP of India. In recent days, it has witnessed transformation due to changes in policy, funding issues and lots more. If you are looking forward to investing in real estate, you need to keep in mind various factors. A wrong decision can cost you a lot and that can be a risky job.
Variety and diversification are the keys in life, be it your investment or personal sphere. At times, keeping all eggs in one basket can land you into a severe problem. Hence, having multiple investment plans is important. In recent days real estate is a popular option among investors as it comes up with a high return.
Land happens to be quite an important asset in India. It can be for establishing settlement or for farming. Big cities have seen an economic boom but there is a shortage of real estate. Investing in them can be a smart move. Real estate Guwahati prices are skyrocketing, even if you buy a small piece of land it can lead to a huge return in the future. This can serve as immediate financial assistance at the time of need.
LISTED BELOW ARE THE COMMON MISTAKES TO AVOID WHILE INVESTING IN REAL ESTATE:
MAKING THE DEAL IN A HURRY:
This is one of the most common mistakes done by people. It is understood that investors are generally in a hurry to sign but rushing can have unexpected consequences. If you are calm while executing a deal this will help you get better information about the property.
NOT GETTING THE PAPERWORK DONE:
Many cases have come up in the past few years where people are cheated with fake documents. You should never miss out the documentation part, failing to read that carefully may land you lose both money and property. You need to check if the documents provided by them are legitimate or not.
LACK OF RESEARCH:
Researching about the property that you are buying is a must to get a good deal. Failing to do this will dilute your investment. When you do research there are chances that you come across ideas to bring down the value of the property. For a good investment, you need to research aspects like the history of building, ownership and builder’s history.
People invest in real estate with a motive to make a profit. But there are times when people make the investment without calculating. If you underestimate the cost related to converting, constructing, and developing may land you in trouble. Registration charges, taxes and government fees associated with your property should never be missed out before buying the property.