Real estate is one of the most lucrative industries, no matter where you live. Whether you make money later off of it, it is profitable to invest in real estate ventures.
Mumbai is heavily populated and that’s why the regions near the metropolitan city are also developing at a fast pace, luring in property investors and buyers alike. One such region is Thane. There are plenty of developments and projects underway with homes and apartments in Thane for sale.
Investing is not only about buying property and selling it at a high price. There is a lot more that takes place in the background so you can yield maximum profit from investing in properties in Thane.
Here are a few pointers to help you out:
Choosing the Right Neighbourhood
One of the key factors that can help make profits is the location you decide to invest in. The more accessible the area is, the higher are the chances of increasing returns. So, you have to be careful while choosing the neighborhood.
At the same time, consider your budget, as well as some areas, require a higher investment than others.
Investing in Off-Plan Property
Properties that are under construction or yet to be developed are called off-plan properties. They can get you significant capital gains if you have invested in the right property at the right location. When the location is ideal, it increases your chances of getting great offers even before the project gets completed.
Moreover, investing in off-plan properties costs comparatively less than a finished home or apartment. You can also benefit from a customized and convenient payment plan. You could pay in installments rather than paying a big amount upfront. As there are a bunch of residential projects underway at the moment, you have more options than ever to find an off-plan property worth your investment.
Essential Amenities and Features
Apart from the location, the second most important thing you need to pay attention to before renting or buying property is the availability of all the essential amenities and features. Invest in a property that has all the features of all the basic amenities of a comfortable living that people look for in an apartment or villa.
Making the Right Choice: Apartment or Home?
Investors often find themselves in a fix as to where to invest their money. An apartment or home? Both have their own set of perks. Compared to homes, apartments are more promising in terms of rental yields owing to the affordability factors.
Also, luxurious properties have their market. After you have found a tenant for your home, you would find a continuous stream of income for many years to come.
Regular Maintenance
If you want to gain high yields, see that you keep your property well-maintained. If there is any repair work that needs to be done, get it done before you invite a potential tenant or buyer. Also, see that both the interiors and exteriors are up to the standard. Do what you can to boost the decors, all of these things are going to contribute to getting high returns from your property.
Energy-Efficient Design
It is quite useful to have a property with an energy-efficient design. People prefer this kind of residences to save on their utility costs. You would get more attention and interest from potential buyers if you have such a property.
Determining Rental Price
If you want to list your property for rent, see that you don’t set the rental price too high. Doing that shall limit your prospects. Prospect tenants shall discard you from their options list if you list the rent way too high. Make sure that you set the rental value after scouring and learning about the current rental trends of the market.
Those who want to buy flat in Thane with investment purpose and want to gain high returns should keep these pointers in mind to get the most out of their investment. Thane as well as the entire MMR has plenty of investment options where one could invest in the real estate sector. However, one must take professional advice and consult someone from real estate to make an informed decision that earns them well in the long run.