Top Tips for Buying an Investment Property in Pune

Wondering where to invest your money? Real estate investments are quite popular with all classes of investors promising mental peace in the form of a tangible asset as well as a good ROI over time.

Are you planning to invest in one of the new projects in Pune? You’ve made a smart choice. Currently, you can purchase a 2 BHK flat in Pune at competitive prices in top residential projects such as the much-awaited Godrej Active in Keshav Nagar.

In this article, we will help you get started with some smart tips that will help you make informed investment decisions:

Brush-Up Your Knowledge

If you are a first-time investor, you might feel confused with fancy real estate jargon. Therefore, it is important to learn as much as possible about the real estate market before you invest your money. Read online blogs, real estate magazines, and network with experienced investors to learn more about property investments.

Find the Right Property

When you buy a 2 BHK flat in Pune, you must ensure that it ticks all your boxes at the lowest possible price to ensure a better ROI. Ask yourself these questions before you finalize on one:

· Is the property located in a family-friendly area?

· What is the sale price of similar properties in the area?

· Is the neighbourhood safe?

· Any planned future developments that might affect the value of the property?

· Have you found any defects in the house after the inspections are complete?

If everything is in order, it is time to crunch the numbers and calculate your returns. Remember, buying a property is not a one-time purchase. As a landlord, there are several other costs that you’d end up footing regularly such as house maintenance expenses and property agent fees.

It is strongly recommended that you take these overheads into account when buying a property. You must also consider the average time the house might remain vacant for while calculating your returns.

Get a Tailored Home Loan

Last but not the least, it is important to choose a home loan that is in keeping with your financial situation. Depending upon your cash flow, you could choose a traditional principal and interest loan or an interest-only loan that is quite popular with investors. Whatever you choose, make sure that you calculate your monthly repayments in advance so that you don’t default on your home loan. Speak to a mortgage broker or lender to understand your financial options better.