Friday, 20 February 2015
List of the top myths about Real Estate and how to debunk them
We all want to live our dreams. Owning a home is one of the biggest dreams for each one of us. We may agree with the social norms or might have broken away from them, yet we all need a roof over our heads, a space which we can call our own, a space where we can keep our family happy and safe. Real Estate offers means to fulfil our dreams. However, whenever we talk Real Estate, we have people talking about their experiences, some good and some not so good. This does create doubts in the minds of a new home buyer, however, the myths and apprehensions surrounding Real Estate should not stop anyone from fulfilling their dream of buying a new home.
The most common myth
YOU NEED A LOT OF SAVINGS TO BUY A NEW HOME! Well, the amount of competition in Real Estate in India has lead to creation of homes catering to each segment of the society. Also, the pricing too has become highly competitive. No developer would like to lose a customer. They have invested huge amounts and are eager to earn profits for themselves as well as their investors. In today’s competitive market, developers have tied-up with banks and have come up with attractive payment schemes. Some will offer to buy a home by paying only 10%-15% of the cost of a home and paying the rest only on possession.
Along with that, the easy loan disbursement policy of various banks will help you to find the necessary funds as well as save on taxes. With most of the developers showcasing their products online, you can compare all the available properties fulfilling your requirements and even compare loan products online.
Buying a home is a HIGH RISK investment!
Nothing can be further from the truth. Any type of investment, shares,bonds,mutual funds, bank deposits, each have their own risks associated with them. Nothing comes risk free. You can only remain informed about the risks involved and use caution to invest your money wisely. Real Estate investment is rather low risk investment that has allowed people to gain profits. The stakes are always high in real estate but with an unmatched assurity of return.
The other deterrent for most home buyers is the locality of an upcoming project. If it is situated in the suburbs, most people feel that the area might remain underdeveloped or inaccessible. The development of the adjoining cities, especially in NCR have broken this myth. Cities like Noida and Gurgaon have led by example on developing planned cities in India. The other glaring truth is that the developed cities do not have room for further development.
Malls, office spaces and recreational areas need space, which currently the suburbs offer to the developers. The housing societies not only offer residential homes but also develop a complete city with schools, hospitals, markets and malls, to cater to the requirements of the residents. Moreover, with stringent government laws, developers today are more focussed on developing green buildings that provide a holistic lifestyle.
For now we are focussing only on these two main aspects, if you have any other queries or apprehensions, write to us at firstname.lastname@example.org . We will be more than happy to help you find the right home.
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