The best value properties increase your chances of earning a stable income monthly through rent or capital appreciation. What sets real estate investment apart from stock and bonds investment is lucrative returns. Plus, you don’t have to pay the full price upfront.
The real estate market in India has helped aspiring investors generate excellent returns, much better than the equity market, and that too with fewer risks. As tempting as it sounds, investors tend to make bad decisions when it comes to finding affordable flats in Mumbai, and other metropolitan cities.
Below we have listed a few crucial tips for maximizing your ROI with the best value properties. Let’s take a look.
Check the Amenities
Finding a suitable market, where you can get affordable flats in Mumbai and the best neighborhood coupled with the basic amenities is crucial. Put yourself in your audience’s shoes and think about what things you’ll like in your new home.
Create a list of the amenities you need in the property and the surrounding areas. For instance, the distance to public transport, the city’s major attractions, views outside the window, and the overall neighborhood are a few important things to consider when finding a perfect real estate market.
Look for the Best Value Properties
Best-value properties are usually old buildings that have stood the test of time and are located in established markets. These properties are in high demand. That said, you don’t necessarily have to tap into the established markets. If you are on a small budget, search for the best value properties in the emerging market. This will help you in two ways. You will find the properties at a reasonable price and you can expect a great ROI in the future.
Look for the Cheapest Home Loan
A majority of homebuyers secure a home loan to finance the investment. A home loan comes with many additional fees, excluding interest. This includes the stamp duty, GST, and processing fee. Add to this the interest, and your purchase price will exceed the seller’s quote. Fortunately, you can find cheaper home loans that come with negligible interest.
Do No Invest Too Much in the Interiors
So, you have found the best value properties in your target location and are now considering changing its interiors. There’s no point in looking for affordable flats in Mumbai only to end up spending tons of money on changing the interiors. That’s because most people will re-design their house to their preference. You should get the repairs and replacement done, but that’s all. Don’t overspend on the parts, which will most likely be upgraded by the new homeowner.
Conclusion
The best value properties have all amenities that a gen-z real estate investor looks for. If you are also looking for affordable flats in Mumbai, look no further. We at Willbert Properties, have been offering the best value property deals for 8 years. Whether you need a home in Kandivali or Mira Road, we have you covered.