No more Renting, Go for Buying

Five months after demonetisation in India, the real estate across the country is being re-structured. As time goes by, it looks like buying a home will prove to be more cost-effective, at least in Bangalore. At least this is what the latest trends show.  If you have lived in a rented property for long, now may be the time for you to consider purchasing a home. A 2BHK flat for sale in Sarjapur Road is now reasonably priced and EMIs also come at better rates of interest. Should you decide on this area to invest in, we offer some guidelines to make the entire deal viable for long term.

Disclaimer before the buying process!

Anyone who wishes to buy a property in the city needs to consider all options, situations and priorities before making a decision. Buying a home is something that cannot be reversed after all the investments has been done. Everyone has a responsibility and work that adds to the stress. When EMIs need to be paid, the work gets more stressful. Having said this in plain terms, it is advisable to make a well-thought decision that will hold you in good stead for the next decade at least. And now for the better part-buying off the apartment. What will be advantageous in such a scenario because the only priority people have is to have a legacy for the kids. But there are more practical aspects that need to be considered. There will always be arguments for renting and buying you will need to weigh the pros and cons to suit your situation.

Prices will always remain high

Even though the demonetisation boggy is almost vanishing, realty sector has seen only a temporary hit in sales. There will not be a drastic price correction. Maybe, sales are down in many parts of the country which also includes Bangalore, but the property market will recover soon, maybe much before the festive season commences. Prices will continue to rise as infrastructure development, delays in getting materials to complete projects has set in. Yet, there are some pockets in the city where one can get prospective completed flats. Check out a few properties for sale in Sarjapur road, Bangalore. The current inventory of flats in this area shows that even luxury properties are available for buying. And almost everyone knows the advantages of a high-end home in a good location. It commands a premium even when the market is down. This it makes sense to buy rather than rent out even if it is less expensive in current situation. If you still consider renting then use this yardstick to understand-if the annual rent is under 2% of the value of the flat then it is a better option. Otherwise look at having a roof over your head as paying EMI is a better option.

Consider the following for buying

  1. Will you be staying here forever? Unless you are in a job that transfers you every 2 years then it makes sense to buy.
  2. Consider the realty market in the area. For example, luxury apartments in Sarjapur road, Bangalore are currently worth investing in. Buying in this area is better than renting for families.
  3. If your family is in good space and EMIs can be sorted then simply make a move to purchase.
  4. The money that goes into renting can now go into EMIs.
  5. The realty sector in Bangalore is very stable at the moment for buyers.
  6. North Bangalore offers good yields and investment options to investors and genuine buyers.

The above points will help you to make a safe and secured decision for your family.

About The Author

Richard is a business architect in the real estate industry. He has 5 years of experience in this industry and has got huge knowledge on the various real estate projects like properties for sale in sarjapur road bangalore.

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