When you are looking for buying a home, certainly you would have weighed down the pros and cons of everything. Investing in a property is done with caution, and thankfully many understand that a small mistake can lead to disasters. If you are looking for the upcoming property in Bangalore to invest, you have made a good decision. But if you do not know about a few things, there can be chances of a huge loss. Find what are the pros and cons of investing in the upcoming properties.
- Not the heart of the city will still be considered the status symbol after decades. It can have its own value, but there would be no room for development. The upcoming properties are always in the areas that can be expanded in future. If you are finding a property that is closer to the city, and yet has room for expansion, then you would reap rewards in multifold in the future.
- They have lower rates. You would be awe stuck to know that you can get the property for the 20% lesser rates, when you invest in the upcoming properties.
- The prices are competitive, and locating one is not a hassle. A few builders can also offer amenities that cannot be found in other projects, instead of the cheaper price tag. You can decide what you need.
- The possession most of the times, can happen in 3 years. You can move in within 12 months, if you are getting the same from the secondary market. The options are copious, and you can choose the one that would fit your wallet. The longer it takes, the slower you can spend on the property.
Ponder on these:
Investing in any property is like handling a sword with 2 edges, and unless you do not ponder on the following, you will lose all the money.
You can see that the penalties are levied if the buyer delays the payment. Same ways, the builder has to pay interest on the amount paid if there is a delay in handing over the property. You need to be very cautious if you are looking for bank loans, as if the titles are not clear, or if the builder is not reputed, the banks do no offer the loans. For instance, if the builder has a past record of a construction that has fallen to the ground, there are no chances of getting a loan, and in fact is not a good decision to sign the deal.