TO BE OR TO RENT?
Posted by Mike Ross on December 4th, 2020
Real estate in Bangalore has seen appreciating rates of return for years now. The city is expanding from all sides, leading to a major rise in the number of projects and developments. Right from luxury villas to apartments for sale on Harlur Road we can see great innovations happening in this space.
So much so that if you are looking for residential projects from the leading real estate builders there are umpteen considerations to be made – from the location to the type of housing to the number of rooms. One also has to consider the purpose of their investment. Some look at real estate as an investment that serves as their own home.
Some look at it purely from an investment point of view – to resell when rates appreciate significantly. Some even look at it as an investment to earn rent from in the coming future. In a way, real estate offers lucrative capital as well as income gains.
The more prepared you are and the more knowledge you have about the property, the better the chances of your investment paying off. Whatever may be your purpose, ensure you are rational and calculative before investing anything. Here are a few tips to help you zero in on the right property – especially when you are looking to rent it out.
LOCATION COMES FIRST
Think of yourself as a potential renter. Would you like to live in this area? How easy is it to commute from here? Figure out the benefits of the area, as well as the drawbacks. It is essential to be aware of both so you know what you are paying for as well as what you can charge for consequently.
When it comes to renting, understand how easy the commute is, how far the commercial areas are, and also if there are schools, etc. around to make it more family-friendly. One strategy could also be to identify areas that are set for major development or are close to major commercial hubs so that they do not witness exceptionally high rates right now but have a high chance to in the days to come.
For example, you need not invest in Electronic City but investing in neighboring areas would be smart – like 3BHK villas in Chandapurua or 3 BHK cheap flats in Bangalore. You can even consider flats or an independent house for sale in Electronic City based on your resources and requirements.
WHO WILL IT BE?
A critical decision to be made is also who you are looking to rent to. Based on the audience you deem fit, your house will need to offer their requirements. You need not decide this first and then look for houses, but it must be a part of your decision making.
The house you can rent to students will be poles apart from the ones you can rent to families. Similarly, the ones you will rent to working professionals will also be different. You can consider well-connected suburbs for families. You can consider luxury villas in Bangalore for sale for well-to-do working professionals.
Lastly, you need to have a clear understanding of your finances – your expenses today as well as a proper idea of your incomes tomorrow. Study the mortgage rates and other expenses vis-à-vis the likely rent you will be receiving. Only if this is a comfortable gain, finalize on the property. Do not forget to account for maintenance, repairs, unexpected costs, as well as the months your property will remain empty in between tenants.
So if you are looking to invest in real estate, consider Abhee Prakruthi Villas in Chandapura, just 10 minutes from Electronic City. We offer fabulous 3 & 4BHK villas in Chandapura that are blessed with luxury, location, and exclusivity. So what are you waiting for? Upgrade to the villa life today!
This article was origianally published here – TO BE OR TO RENT?
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About the AuthorMike Ross
Joined: October 10th, 2019
Articles Posted: 23
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