Homebuyer With Multiple Options? These Tips Will Help You Make A Choice
In a market where the sellers are upbeat about selling their piled up inventory, the potential homebuyers can find themselves in the middle of multiple offers, each worth picking up for different reasons. This could be a situation of fix for many and may call for a hasty or a not-thought-of decision. In such a scenario, MakaaniQ tells potential homebuyers to take their time and follow these tips to pick the right offer.
Take the first step. You don't want to confuse yourself with too many offers. Shortlist among the five or more properties that you have set your eyes on and bring down the number to four or three. This will help you make a guided decision and focus on the best ones.
List down the pros and cons
Now pick a pen and paper and list down the pros and cons of the shortlisted properties. The pros and cons will be based on the criteria you had picked to select properties. These would include location, infrastructure, connectivity, developer credibility, price among others. Now, from the four bring down the number to two with the maximum pros.
Also read: Are You A Smart Home Buyer?
Pick the best locality
Always choose a property in a locality that is either established or shows signs of near-future development. For instance, a locality that will soon have a Metro station or a locality that will soon be home to a special economic zone, or will be in close proximity to the city centre. All these points will let you pick the property. Think about both your stay as well as the returns that you might want to reap in the future. For tips on choosing the right locality, click here.
Think long term
Investing for end-use or for returns in the future, think long term when it comes to real estate. For end-use think of yourself and your partner's workplace, your children's education, upcoming infrastructure, connectivity and project amenities, among others. In case of investment, the criteria should be to study the past price movement in the locality, upcoming projects and infrastructure around the project and also, the expected price appreciation. For investment tricks, read here.
Consult your broker
Still in a fix? Take the list of selected properties to your broker, and let him help you out. While you picked the ones that you think is right, a broker will help you make a guided decision with his acumen and knowledge about the locality, the developer and the project.