Buying property and selling it off at the right time has emerged as the most reliable business opportunity in the current situation.
The inherent reason behind this is, property prices are much immune against the financial calamities. Stock and gold prices fluctuate. Bank interests fall never to revive to the previous rate.
But if you compare this graph with property, you will find that property rates never fall. In the worst of situations, they remain constant. You will never see that a square feet rate of an area has dropped ever.
So, if you have thought of investing in a property, you must go for it. Just remember a few wise tips to make the most out of the deal.
Your credit profile would look positive as long as you clear your debts regularly and the ratio between loan amounts you can apply for and the outstanding loan amount is low.
A wise property investor never risks his credit score by buying best apartments in Noida or elsewhere and increasing his credits unnecessarily. Instead, he gauges his investing potentials based on his ability to pay the corresponding home loan he has taken for it before jumping abruptly into a purchasing decision.
Purchasing a property has become much sorted out now, and the credit goes to the home loan. But certain conditions are applicable in the process too.
You might get a higher amount as a home loan as compared to your colleague who is thinking of buying the same best apartments in Noida as that of you. There are some inherent reasons for this.
Basically, the amount that will be sanctioned for you depends upon a range of criteria like your gross salary, IT return, credit score, and so on.
Therefore, it is always wise to coordinate with the bank or other financing institution and get the right idea instead of assuming that you will get a particular amount for sure as a home loan. That way, you will not have to abandon the idea of buying a property halfway.
Even the best looking property can make you land into disputes if you are not careful.
Let us explain this clearly to you; your property agent might tempt you by saying that you will hit a great shot by buying a property at the price of peanuts only because it cannot be registered under your name.
Similarly, due to lack of knowledge, you might end up paying a hefty advance for a lavish property that has been built on an injunction plot.
There are many such hidden truths connected with a property deal that might land you into dire situations if you are not alert. So, do your research carefully before giving your final consent.