Top 5 Tips for Your Investment Property Research



It's every ambitious individual's dream to invest in a good property. However, finding the right investment property is not a cakewalk activity. It involves thorough property research and in-depth analysis to make a wise decision. We have listed important points you must consider while looking for a property to ease your buying process. Whether you're an expert or a novice, these tips from an expert property research company will help you.

1. Set Your Budget

Before you begin, it's essential to set a budget. This is a crucial step on which the upcoming points rely. Begin by working out what your upfront costs will be and how much you have saved up. This will give you an idea of how much you need to borrow. Look around to understand what you can get at different price ranges and how much the cost of maintenance (strata fees, water rates, etc.) will be. This will give you a head start on your research. Seek help from real estate research companies, if needed.


2. Evaluate Multiple Properties

While doing your property research, you may feel like you have found 'The One.' However, we suggest you look further before finalizing. Talk to top realtors and ask them to show multiple options within your budget. This will help you assess different neighborhoods and give you a better understanding of the situation.


3. Sales Comparison

Before signing up with a Realtor, we suggest you understand how many properties he has sold in the last six months to 1 year that match your requirements. Without hesitation, ask your realtor for a specific list of properties in that area.


4. Local Statistics

When interested in particular property investment, it's best to obtain local statistics to understand how the area compares with other localities. Consider population count, connectivity, schools, colleges, society, MHADA projects, etc. These factors will help you understand the potential of that particular area and whether the property rate will grow in the future or not. You can also check the government website for that area to check the crime statistics, demographics, etc.

5. Check How Long that Property Has Been on Sale Before Investing
This is important because if a house takes longer than usual to sell, it indicates that the market growth in that area is slow. If similar properties in that area sell quickly, it indicates that that area is or will soon be in demand. For example, if you’re looking for projects in Mumbai, look for the market growth in that particular area.

Now that you have a clear idea. You can start looking for your dream home. Visit https://www.propscience.com/ or get in touch with us for expert advice.

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