With the new wave after implementation of the Real Estate Regulatory Authority act in 2016, addressing concerns of homebuyers, builders and other stakeholders of the industry, concerns of investing in commercial property have streamlined. With uniformity and transparency in the process now, if done right, investing in Commercial Property can be a fruitful investment. Clearly, with an improved process, the sector has grown by leaps and bounds but how, why and when remains the common factor even after that as people are still confused as to whether it is the right thing they are eyeing at or not.
Something done because everyone is doing it will definitely have its consequences but when something is done with proper knowledge in hand, with due knowledge of everything is another scenario. Before you decide to invest in property, make sure you have prior knowledge of these things to make a sound investment.
Understand property stance!
From understanding present trends of the market to understanding what future prospect does the investment holds is crucial. Analyse present trend, pay attention to what type of properties are high in demand and reaping fruitful investment. Tip, it would be better to invest in a developing area where the scope is high and welcoming with lesser cost than to invest in an already developed area with high investment costs. Before investing, always try to get clarity of future prospects.
Understand your financial stance!
Investment in real estate is that type of investment where you rely majorly on the future for prosperity. But, here neglecting your present status is equally fallacious. Planning on the budget is extremely important. Consult someone who can help you with tax whereabouts as tax implications on the property are complex to understand. If planning for EMI, make sure you have a budget justifying that you are not relying on external things. Make sure you have finances ready to take certain uncalled risks too.
Ponder upon its efficiency!
The building is no building without the eagle eye of an engineer. Whether you are investing in an office space, residential space or something else make sure you are paying attention to its operational efficiency by thinking from the side of the future investor. Why would someone invest in my property? You should have an answer to this question as it is directly proportionate to your earning scope from the space.