Buying Your First Investment Property

Have a well-crafted career, a well-paying job, seem well-settled in your life and think this is the perfect time to make your first property investment?

As easy as it may look on paper, buying investment property in India can be a challenging affair; after all, it is an important revenue earning tool, and you want to be doubly sure of every step that you take towards your first investment property.

Here’s the good news: we’re here to help you get all the “first things” right when it comes to property investment! Mentioned below are a few important tips to make the best decisions while buying investment property in India:

The Where?

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This indeed is the most important decision that you need to take as a first time buyer. Be aware of the fact that the property you plan to invest in is not where you will live. Hence, keep a balance between personal preferences and logical thinking to choose a location that not only suits your likes but also offers the best rentals in town.

The What?

Now that you are sure about where you want to invest your hard earned money, the second most important judgement to make is about the type of property you wish to invest in. While this decision correlates with your choice of locality to a large extent, there are several other factors that determine it. For example, the preferred locality may have lucrative options for both residential as well as commercial properties. Or there may be higher demand for a certain type of residential property over others, just like apartments are considered the best property investment in Delhi NCR. It is very important to ascertain all these aspects before deciding on your first property investment.

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The Who?

Procuring an investment property means that you will be undertaking the role of a landlord. Thus, it is very important for you to set your priorities right. If you choose to have multiple tenants residing within a housing complex, you will need to spend a considerable amount of time to calculate and collect rent from the occupants, whereas a commercial space leased out to a recognized institution will enable hassle-free additions to your wealth. Hiring the services of a property manager is a good option, especially when you make a property investment which will have multiple occupants.

Ponder over these basics before you buy your first investment property in India, and you should be able to make a wise decision towards wealth maximization.

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