What should a buyer look for in the current realty market situation?
Usually investors often get confused after talking to developers over investing in a property as they give an array of reasons as to why it is the right time to buy a property even though property prices have gone up. Most investors at times invest in properties without studying the realty market condition.
The current realty market situation of India is not quite favourable for the home buyers and the complete real estate market is being erratic with no signs of end-user’s excitement on an instant basis. The home buyers are impatiently waiting for the best deals to come their way and in fact there are various developers who are actually offering the best deals due to liquidity crunch. One of the best options a buyer can opt for is to wait for the impending correction of the realty market and meanwhile look for suitable deals.
Studies have shown that this is certainly not the right time for investment in under-developed areas which are far behind in infrastructure and enough market drivers. In case there are home buyers with a genuine need, then this would be the right time for investment as far as they get hold of some good deals catering to their requirement.
A buyer should keep the following in mind:
However, with the market condition being this way, home buyers who are looking to invest in properties for better returns can go in for a property with a promising destination. In such cases, the home buyer should do a complete research of the location and its appreciation in the future years.
A home buyer should list down all the cities which are predicted to get better appreciation in the coming years. Areas like Mumbai, Thane, Navi Mumbai and other surrounding areas are the ones with promising destinations although the prices are quite high for small investors. These areas are assumed to get better appreciation in the coming years. Apart from these areas, other cities like Pune, Bangalore, Chennai and Delhi NCR are also good options.
A home buyer should be smart enough to do a research before investing in these cities as an ignorant approach might lead to a loss. Also an investor should opt for properties which are witnessing a development in infrastructure.
