India is one of the fastest developing countries and one can observe a rapid growth in the economy. Also, along with the country’s development, there has also been a development in the living standards of the people residing in the country. Since the population of the country is rapidly increasing, there has been accommodation problems but, to get rid of this problem, various builders are coming up with new residential projects in Gurgaon. These housing options are affordable, thus solve the purpose of the common man and also, do not become too heavy on the pockets. If you too are thinking of investing in a property in Gurgaon, here is everything that you always to know.
Gurgaon, the millennium city has developed at a rapid pace and more and more people are willing to invest in a residential property in Gurgaon. Investing in a property is undoubtedly one of the best decisions an individual can make, provided done in the right manner. First time investors generally make a few mistakes about which they regret at a later stage. Here are a few mistakes that you must avoid while investing in a property in Gurgaon.
Mistake 1. Not conducting a proper research
Conducting an extensive research is one of the thumb rules while planning to invest in a property. Various residential properties are available at different locations and the price of every property varies. All you need to do is determine your budget and your preferred location and then conduct a research in the locality. For example, if you have made up your mind to opt for floors on NH 8 Highway in Gurgaon, look for the various residential options available only in that area depending on your budget.
Mistake 2. Not taking the help of an expert
Admit it – a real estate agent has more knowledge about the current propertytrends and prices and there is no harm in taking the help of a real estate agent. These experts can help you make the right deal, that too without toiling much. For example, if you are looking for flats in Gurgaon, a real estate agent will help you find an affordable flat in you desired location.
Mistake 3. Paying more for the property
This mistake generally happens when you do not seek the advice of a real estate agent. Opting for the best floors in Gurgaon does not mean that you have to put in extra money. You should only pay the actual price of the property. The best way to know about the actual price of the property is by taking the help of a real estate agent. If this does not suit you, take some time out and conduct a research about the value of the property.
Mistake 4. Not estimating the overall expenses
If you are planning to opt for an apartment in Gurgaon, the first thing that you should do is calculate the expenses that you will have bear. By calculating the expenses, here we do not mean only the price of the property, but also, expenses like repairs and maintenance costs,to name just a few. This will keep you financially ready for the long run.
If you too are a first time investor, make sure you avoid these mistake and make the right deal.
Needless to say, the real estate industry is witnessing a tremendous growth in Gurgaon and every individual is willing to reside in this luxurious location. If you cannot buy an apartment but still wish to live in this wonderful location, finding an apartment in Gurgaon on rent is one of the best options. Once you have taken this decision, make sure your search helps you find one of the best apartments in Gurgaon. Here are a few tips that can assist you in making the right deal.
- To start off with, creation of a renter’s resume is a must. This should include your personal details like your permanent address, the tenure of your employment, present salary and references.
- The next important factor that needs to be considered is your budget. It is extremely important to estimate the amount that you can pay as rent. Also, once you estimate your budget, your search becomes easy.
- The next step is to search for the availability of apartments. Classifieds in the newspapers, real estate online portals and publications dedicated to real estate are the best way to know about the apartments available on rent.
- If you are not able to make a decision by yourself, take the help of a real estate agent. These agents have an in depth knowledge about the latest market trends and can help you in making the right deal within your estimated budget.
- Once you decide on the property, make sure you check the entire apartment. If there is a damage, report it to the landlord on an immediate basis. By doing so, firstly the property can be repaired and secondly, no one can blame you later for the damage done.
- Just getting a luxurious apartment is not enough – you should also have the access to various other benefits like proper car parking facility, gym, tennis court and pool to name but a few.
- Lastly, once you take the final decision, make sure all the terms are given to you in writing and also clarify the time period within which your landlord will return your security deposit in case you leave the property. This will ensure that you do not face a problem at a later stage in getting your security back.