The turnaround in India’s realty sector has been a long time coming. For the past five years, the real estate was mired down in a bog that seemed inescapable. However, in the post-pandemic period, the sector has made an inexplicable recovery and is poised to be one of the fastest-growing sectors.
Public perception has also undergone a transformation, resulting in increased demands for premium homes. The appetite for residential real estate had significantly grown, with a majority of investors looking to purchase properties away from metropolitan cities. Accordingly, developers like Lodha Group, Ajay Infras, and Modi Builders have been racking up the points by developing projects that fulfill the needs of the new-age buyer.
Nevertheless, one must be wary of a few common rules before investing in real estate. Below are a few tips to help the new buyer in testing out the waters.
A little knowledge is dangerous
The cardinal rule of real estate, like any other sector, is to know exactly what you’re getting into. This translates to knowing the market inside out before one commits to investing in a property. Updating yourself to the current trends is essential before you settle down on the ‘perfect home’.
Have a game plan
Always keep the bigger picture in mind. You need to be at least four to five steps ahead of the current market trends and have contingency plans to make up for any unforeseen circumstances. Having a safety net allows you to fall back without incurring excessive losses.
Play by the rules
Like any other business, real estate comes with its own set of rules and regulations that protect investors, buyers, and sellers. One needs to be proactive and stay informed about changes and the introduction of new rules and regulations. Nowadays, big developers like Modi Builders design their projects along regulated guidelines to save buyers from future hassles. However, it does not hurt to do your own research.
The end goal
Understanding the end goal is as important as the start. For some, real estate may be a way to acquire more wealth, whereas, for others, it is the culmination of a lifelong dream of owning a home. That being said, always make room for exceptions and be quick to adapt to changes as they come along.
Real estate is one of the sectors which offers perpetual returns, provided the investor knows what they are doing. Although it may seem quite daunting at first, real estate can turn out to be the perfect investment for the intrepid investor.