How to Buy a House In 2018: Tips to Get an Edge This Year
Every person wants to own a house of their own. In the 21st century when life is so fast that people have less time to maintain big houses. Families nowadays are mainly found in nuclear form so people prefer to live in small apartments with maximum 2 – 3 bedrooms. It becomes very difficult to maintain big apartments with very few people living in it. Apartments are fixed asset of a person. Investing money in assets is a smart move. The price of the apartment increases gradually. So investing in apartments is very profitable.Importance of Buying an Apartment
- The ROI or Return on Investment in an apartment is very high. The amount invested in an apartment usually doubles or triples itself within a short span of time.
- It is one of the safest modes of investment. Other modes of investments in the capital market like shares, debenture, or bonds involve a lot of risks and the person investing may or may not receive profit from such investments in the capital market.
- It helps the owner to generate money by letting it out. People earn a lot of money by this method.
- The government provides tax benefits on the property, so the owner will receive the facilities.
3 things to consider while buying an Apartment in 2018
- The paper-work of the property must be authentic. The commencement certificate approved building plans, title deed, Encumbrance certificate and other important documents should be verified properly. If required it must be rechecked by a lawyer who deals with properties in general.
- The locality of the apartment must be checked by the buyer. Every individual wants to settle down in a neat and clean place. The security provisions of the place must also be checked.
- The buyer must check the super-built area of the apartment, electric facility, water facility, ambiance of the place and other facilities available in the apartment must be cross-checked before purchasing an apartment.
An apartment converts into a house when it is cared and nurtured. Every human needs a peace of mind when they come back home after a long tiring day at work so an individual must keep in mind these things before purchasing a house.
Also Read – The Impact of Goods and Service Tax on Real Estate | Bayaweaver