Jaipur is a rapidly growing city, and Villa living is the next big thing that the Millennials are looking forward to. And Needless to say that, residential Real Estate in villas is the most profitable investment that will offer major returns in the future provided you do not make any villas buying mistakes.
This inclination of current youth towards a luxury villa life and the benefits of real estate investments gives enough reasons to the investors to invest in the Villas in Jaipur.
The lavish and spacious rooms, the sense of freedom and the joy of designing your home the way you like – this is what attracts the people, and if we take a look ahead of time, Villa will be the choice of almost 80% individuals.
This is also one of the reasons why the investors are now investing in Real Estate and are buying villas in Jaipur for investment.
But everything has a flip side,
At times, you might have even heard people saying that the villas they recently invested in is not performing well and is not giving the returns that they expected. Well, the sole reason behind this are the villas investment mistakes.
The lack of knowledge leads to improper decisions and thus affects your choice, which in turn affects the ROI in the long run. Moreover, people these days avoid consulting the experts and thus end up making emotionally driven decisions based on budget or location.
To save many unknowledgeable buyers from the blunders, here we’ll talk about some common mistakes of buying Villa that investors make and how not to do them while purchasing an independent villa .
Without much ado, let’s talk about,
How to avoid Villa Buying Mistakes
Mistakes while buying a villa property for the first time are common. But sometimes these mistakes can cause some major loss in the long run when your sole purpose of investing in that property has some notable returns in the future.
Highlighted here are some common villa buying blunders that you should avoid,
Not chalking out the investment strategy
Before spending your hard-earned money in buying your perfect dream home, it is always wise to sketch out the investment plan. Do not only go by the thumb rule that every property offers double appreciation as every property shows growth according to its value.
For example, a property that is close to the city and is extensively connected will offer better rental value and returns as compared to the property, which is in a far off area.
Not defining a clear budget
This is the most common Real Estate investment mistake that many homebuyers do while going house-hunting. The most important thing is to determine your budget and sticking to it too!
Sometimes you might get drifted away and end up buying a property that does not fit into your budget.
Your financial balance goes off the track, and you end up paying hefty EMI’s for an extended period.
Lacking market research
When you are buying a villa, do not skip this multi-step process that is a market research and knowledge about the documents required for purchase.
Make sure to check the legal documents such as Sale Deed, registration papers, No-Objection Certificates (NOC) etc. Apart from this, keep in mind to steer clear of the villas buying mistakes and check some important facts like the previous projects by the builder, upcoming projects in the area and the price of neighbouring properties.
Apart from this, do consider some additional costs that come along with the property purchase. The add-ons like PLC, registration charges and stamp duty tend to increase the overall budget.
Skipping the interior inspection
Do not let the exteriors of the property take you on a ride. It is imperative to take a keen look at the interiors of the property to avoid any villas investment mistakes. While inspecting the home, you might sometimes miss some cracks that are hidden behind a coat of paint.
Check the fittings and fixtures in the property to avoid any unnecessary expenditure or hassles when you shift in the home of your dreams.
Hence, to make a wise decision and to get some significant returns from the property, take into consideration all these little things before heading for buying a villa for investment.
Happy house hunting!