You may have gone out of India, but Mother India will not go out of you. Her pull and power will gravitate you back, and what better landing can you have than acquiring your own piece of real estate?
Yet, buying real estate is a major decision and necessitates expert advice. You need to consider many critical points before you finally close a deal, which this article will highlight.
This will enable you to buy your property with confidence.
1. Know your dream before investing in it
Before you look out to buy a property there are some questions that you need to ask yourself .
- Is this a pure investment ?
- Is it a Home for your old age like a retirement home ?
- Is it a back up in case anything goes wrong at the current location?
Once you have an answer for the above questions you will have an idea that if its for investment you can opt for a plot in an upcoming and well connected location, as it will be easier to sell them with profit.
While buying just for the future sale of the property, you must also consider the time factor for sale of it. How fast you could sell the property would determine the amount of investment.
You would never like to invest for a very lengthy span or on a property that would take time to be sold off.Another smart decision you might consider in this context is to buy more than one property of smaller value, so that it would be easier to exit with handsome profit .
You may also invest in a property for merely personal use and future stay. This requires proper consideration of the apartment if you need—decide if it is to be a 2 BHK or 3 BHK.
An in-depth understanding of this need would help you decide on the monetary factor you are going to engage in the purchase. You should remember that every extra sq. ft. is also an additional cost/investment.
2. Know your preference: Branded or Non Branded?
When you are proposing to invest considerable share of your earnings, then you must be sure that your money gets the best bang for the buck. Paying a little more for a branded property is always a smart choice because they come with assurances of legal clarity, construction quality and all the approvals. Such properties get better rents or in case of plotted developments, easier to resell.
3. Know your Proximity Preferences
Investing in a property normally happens once in a lifetime. So you should be completely aware of all your preferences, before deciding on the location where you wish to settle.
Is it a popular residential area or is close to your friends and family? How well you are familiar with the locations and its prospects?
Are there plans for a metro or shopping mall or an educational institution which will push up the price in future? Investing some time and effort to understand and analyse Government’s plans for the area would do wonders for your ROI.
In case you are considering retirement options, you may choose a location that has all the necessary amenities close by.
4. Know your Budget
Your budget is one of very key determinant of your purchase. What to buy, where to buy and when to buy would be decided by the budget you intend to invest in the purchase. However, if you find a property that is likely to give you a better ROI, you might want to reconsider your budget. Your local contact is the best guide for advising you on this.
Self-Awareness is the Key
The main thing that you must keep in mind above all others is never to get carried away by emotions—real estate is a hardheaded business—all head and no heart.
Informed decisions are the key to safe investments and profits. The hands that indulge in congratulatory handshakes cannot afford to be burnt.
So, take time out to think, research and analyse before you take the leap to your property in India.
RERA – or the Real Estate Regulation Act – is finally becoming a reality. Though it is yet to be notified in Karnataka, and plenty of hiccups can be expected in its implementation, it should be kept in mind that RERA is a process, not an event.
Meanwhile, the foremost question in property buyers’ minds is – should they wait until the RERA process is streamlined, or can they go in for home purchase now? This is very fair and valid question.
And to address these questions we had a conversation with Mr. Ramesh Kumar, GM Customer Care & Marketing who shares his perspective on whether one should buy their home now or wait for RERA to be implemented.
Here’s a video which will help you make the right decision . Do not miss watching this.
Real estate market in Bangalore has many horrifying stories of customers complaining. They end up paying EMI and rent both at the same time because of delay in construction.
Where many people are giving up hopes of getting possession of their homes on time ; We are glad that we have kept our commitment yet again. Our motto has always been customers first and our team has just proved it once more.
We are delighted to announce that the construction of Vakil Daffodils is over before time and we have started with registrations of the property.
Registering the property in ones name is a moment to cherish for every home buyer. We made sure that this special occasion in their life was made memorable so that they could preserve it always.
This time we had Mr. Mohsin Ali Vakil, Chairman of Vakil Housing and Mr. Purushotham Reddy, CFO congratulate the customers for owning a flat at Vakil Daffodils.
We have captured some pictures of these moments to share with you
Mr. Mohsin Ali Vakil (CMD) handing over gifts to Mr. & Mrs Hari Mangal Singh, VDD – A 202
Mr. Purushotham Reddy handing over gifts to Mr & Mrs. Kuruvila. VDD -E 029
Mr. Purushotham Reddy handing over gifts to Mr & Mrs Shubashish. VDD -A 101
The perfect picture of our Happy Customers with Vakil Housing Team
Here’s what our customers had to stay after their registration :
The journey for searching cost effective house have been never so easy. The Vakil team has been fantastic overall approach towards converting our dream into reality. Me and my wife are happy to be the customer of Vakil group. Last but not the least I have found the Vakil group very much ethical in their approach which is difficult to find in today’s real estate.
-Shramik Vats, Vakil Daffodils A-204
This is my first property purchase in India and am greatly impressed by the professionalism and politeness of all Vakil staff. Their enthusiasm was infectious and knowledge of their subject excellent. My wife and I are also reassured that Vakil would take care of all legalities which is a great burden off our mind allowing us to concentrate in planning our move. I for one would certainly recommend Vakil to anyone who is looking to buy properties in Bangalore. Thank you Vakil Constructions.
-Amit Halder, Vakil Daffodils A-103
We feel motivated when we receive such feedback, we will continue to do our best to bring happiness to our customers and make their home buying journey easy.
We reached another milestone, a very important one!
We completed the construction of Vakil Daffodils before time and soon we will start with the registrations of flats in the name of owners.
Recently in April we did the car parking allotment for all owners of Vakil Daffodils at Vakil Whispering Woods Clubhouse.
We had a lottery system for car parking allotment, where we will put the numbers in a bowl and each customer will come and pick a chit. More than 80+ customers came with their families to pick their Car Parking number.
On behalf of those who were not present, two owners Mr. K. Navaneetha Krishnan (Flat No.D 023) & Mrs. Shamla Balalji (Flat No.E 129) volunteered to draw from the lot.
Here’s a small video that gives a glimpse of the event.
These little moments become tomorrow’s precious Memories.
Vakil Daffodils are 2 & 3 BHK Apartments, just 10 minutes from E-City. Enjoy your apartment with Free Furnishing which includes Queen Size Beds , Wardrobes, Kitchen Cabinets and many more .
Vakil Daffodils has a long list of ready amenities in a 120 Acre Township.
Buying a home is a dream for most people. It’s what we aspire to, sometimes all our lives.
Yet, when the booking has been done, it’s common for most people to feel buyer’s remorse.
This is actually a well-known phenomenon, resulting from human nature to over-think decisions once they’ve been made.
Buyer’s Remorse is Real
For instance, a buyer might feel that maybe they rushed through the buying process. Sometimes, talking to friends and family who are experienced in these matters can also create doubts.
A buyer might begin to feel that maybe they paid more for the property. Maybe they could have got it for less if they’d bargained a little more or better.
Overall, the idea and process of buying a home can be overwhelming on many levels. It is undoubted, the biggest decision you will be making for a long time. It also involves big money and the idea of meeting loan requirements and making EMI payments can be daunting as well. All these thoughts become more prominent once you’ve booked your home.
All these factors add up to creating buyer’s remorse which can lead to a huge sense of dissatisfaction. Don’t let it reduce your happiness.
If you’ve recently bought a home, and you’re feeling the first twinges of buyer’s remorse, here’s how you can deal with it.
1. Make a list
Sometimes, nothing works as well as the good old pen and paper list. Sit down and make a list of all the reasons that had attracted you to this home.
Was it the affordability? The location? Was it an offer that would have gone away soon?
Whatever the reason, this was why you felt that pull towards the home.
These same features are still valid. Unless of course, you’ve made some big compromises with what you want and what you bought.
Sit back and think of what you wanted in your dream home. Compare it with the list in your hand. If they match more or less, then buyer’s remorse will dissipate once you settle in the home.
2. Stop looking at more homes
A home is a lifetime commitment. Once you’ve made your choice, then stick with it. The more you keep looking at other homes, you will continue feeling dissatisfied with what you have.
Undoubtedly, there will be another home out there which might have better features. But there is also a good possibility that there will be yet another which is even more exciting. The best option would be to stop looking at more homes.
3. Understand the process
Most often, people are overwhelmed by the very idea of buying a home. Ideally, they should educate themselves about the different processes involved before they start considering their options.
They can do this by talking to a reputed realtor or doing their due diligence. By doing this, they will have a clearer picture of the process of buying a home.
This will help them make a wise and informed decision eventually. When buyers are aware of how things work, there’s no place for remorse because they know they have made the right decision.
4. Don’t overshoot your budget
Suppose you want to buy a phone. You look up your favorite model online and then just as you’re about to buy, you see a phone with better features for a higher price. What do you do?
You might decide to skip your budget and buy the more expensive phone. Mostly because your pocket can handle it.
But in the case of real estate, if you extend your budget, you’re looking at a lifetime of EMIs that you have to shell out. EMIs that are much higher than you had anticipated or planned for.
Overshooting your budget is the easiest way for buyer’s remorse to kick in. Don’t give in to temptation. Stick to your original budget.
5. Get your life back
Often when people want to buy a home, they put their life on hold. Everything that is considered normal goes out of the window.
Everywhere they turn, there is something related to real estate.It could be in their email or in the conversations they have with people.
Once they do buy the home, it becomes almost anti-climactic.You can stop this from happening to you by going back to your routine from before.
Pick up your hobbies where you left them.Go on morning walks. Have conversations with your family. Get your life back. Once you do this, there’s no time for buyer’s remorse to creep in.
Buyer’s remorse has led to several people trying to undo the work of a lifetime so they can assuage their doubts. But in the end, it’s their loss if they are not satisfied. Don’t let buyer’s remorse wreck your happiness. Work your way through it and enjoy your hard earned haven.