Whether you are looking for a 3 BHK flat in Kharar or a villa, it doesn’t matter. There can be primarily two reasons behind investing in a residential property. Either you want to settle in or buy to let it.
If it is the former, you consider those things that matter to you as you will reside in this house or flat. However, things are different if your reason for buying it is the latter. For having a regular rental income, you have to ascertain it garners you a good return on your investment.
Keeping both reasons in mind, here are some common tips to remember when buying any residential real estate.
Set a Budget
Even if you are a millionaire, it is imperative to define your budget before investing. Once you know your budget, you know how far you can go in negotiation and which doors you need to knock on while looking for a property for sale in Mohali.
Know Future Prospects of the Area
Almost a decade back; not many middle-class people were interested in buying properties on Airport Road in Mohali. They were more interested in investing in Zirakpur and Dera Bassi. However, the scenario has changed with time. Today the price of the properties in this area has surged far more than expected. If you do not want to relent later on your decision, then consider the prospects of the area where you are planning to buy apartments in Mohali.
Learn More About Accessibility
How accessible are the 2 BHK flats in Kharar that you are planning to buy? Do not ignore this question if you want to make a prudent decision. Try to understand how accessible it is to the nearest mall or school, airport, bus stand, highway, hospital, etc. If it is nearer to all these places then you are making the right call. Currently, if there is not a mall nearby, then what about the future?
Note – Today you can find the best shopping center in the Kharar area. So, buying a property in this region could be a great idea. Nirwana Heights is a good option available in this region.
Opt for Greenery
If you are in slumber, it is time to wake up and learn that a residential area needs to be green. Look for properties with trees, and plantations that are tranquil. Getting exposed to noise pollution and air pollution is not good for your health. When you buy a house surrounded by high rises and congested roads with the heavy movement of automobiles, you cannot resist inhaling poor quality air. Real estate properties in Kharar are greener than many other properties in the Tricity region.
Choose a Genuine and Reputed Real Estate Agency
In Sunny Enclave, fraudulent cases were registered as all norms related to the environment were not followed by a particular real estate agency. You do not want to become a victim of all this. Then why not opt for a reputed and credible real estate agency in Mohali?
Before Wrapping Up
If you are planning to buy a house in Tricity to settle down or rent out, then you need to determine whether it meets your requirements or not. You need to know whether the location is the best or not. Apart from this, you must select what type of residential property will be a better option. Here are some of the common types of residential real estate available on sale –
The most common types of residential properties that many invest in are flats. You can easily find many 2 BHK apartments in Tricity. Many people with a higher budget sometimes prefer buying two properties in the form of flats rather than buying a villa in Kharar.
An independent house for sale in Mohali is not that difficult to find, but they are not always the best option for those planning to rent it out. It is a good option if you want to settle in.
If you are looking for a duplex house for sale in Mohali, you need to ensure whether the builder is trustworthy or not. You can find many such properties in Mohali, Kharar, and other areas near Chandigarh.
Lastly, you can buy a villa and rent it or settle in. There is no dearth of such residential properties in Tricity.
In a nutshell, choose a property for residential purposes only when you are certain that it is worth buying.