From the investment point of view, whether you are buying a residential property or a commercial property, if you do this work without proper investigation, then you will end up with loss instead of profit. If you want that the property you are buying should give you profit, then before buying the property, you must follow the basic rules of this work.
The location of any property plays an important role in increasing its value in future. Always buy property in such an area where there are basic facilities. Be at a reasonable distance from hospital, school and market. Along with this, get information about the possibility of further development of that area.
If you are taking any property in a housing society made by a developer, then definitely find out about the reputation of that developer. Always buy property in societies developed by renowned developers only.
Whether buying a flat or a plot, be sure to know about its legal status. The property should not be disputed and its title should be clear. Along with this, he should also have got the necessary approval from the local body.
You should always know your financial capacity to buy a property. Before buying a property, registration fees, stamp duty, taxes and other expenses should be calculated so that you can know whether the property you are going to buy is within your budget.
In the place where you are taking the property, do get information about basic facilities like electricity, water and sewerage. Also know about the facilities like Park Shopping Centre, School and Hospital. These things contribute significantly in increasing the value of the property.
Before buying any property, definitely find out the local real estate market trends. Take a decision only after knowing whether the market is booming or bearish.
Real estate investment is a long term investment. That's why you should make your exit strategy in advance. Before buying a property, you should decide after how many years you will sell the property. Along with this, if you have to sell the property before the fixed target, then you must consider the potential profit or loss.
