Real-estate can be quite an overwhelming market especially if you are new to investing. Though it is filled with lucrative property schemes both residential and commercial in nature it has something for everyone. No other city even comes close to Bangalore when it comes to the choice of buy flats in Bangalore as compared to other cities.
Here are some smart tips to help you take the first step forward or to simply keep assail.
#1 Plan your budget well. Be sure of what kind of property you are willing to invest in? Do your primary research. Compare properties online and visit them to check if the builder offers you what you are paying for? It is important to match your needs with what is being offered to you so your investments can reap benefits you have thought of.
#2 Set budgetary goals especially when you feel you would require extra funds to suffice your needs. For instance, you may take up a home loan from experienced NBFCs at the lucrative amount, affordable interest rate and flexible tenure to cover planned and unplanned needs.
#3 Consult your Relationship Manager or financial advisor to better plan your finances. For example, NBFCs offer the Flexi Hybrid feature on the loan. This is a unique facility that lets you borrow as per your needs from the loan amount sanctioned. Interest is charged on these daily withdrawals which lower the EMIs by up to 45% and build a more manageable EMI structure.
#4 You may consider using the foreclosure and part-prepayment options on the loan. This will allow you to clear off the loan on time. In the long run, it will have a positive impact on your credit score too. Readout Guide to Investing in Real Estate Business.