Airoli New Construction Projects- Tips for Safe Investment Planning to invest in a new construction project in Airoli? It is a good investment decision to buy an underconstruction property. But in order to maximize your gains further, here are a few useful tips that you can consider:
Since home buyers always want the best, they usually opt for a residential properties In Airoli flat on the higher floor with a garden view and an extra spacious bedroom. But do these factors make a good buy? This is an important question to ask especially if you are buying a unit 2 Bhk Flats In Airoli for investment purpose. Here are a few more important questions to ask before making a move. Answers to these questions will help you make an informed decision.
You need to jot down the investments you already have and the average return you will be getting from those investments. You need to ask why you are thinking of buying an under-construction apartment that will take at least two to three years for completion. If you don’t have much to invest, does it make sense to buy a home that is worth a lot?
Points to Consider 1.
2.
3.
4.
5.
You can strike a deal with the builder on the premium facing rate and floor-rise rate. These are some of the features that almost all buildings have and they don’t really cost the property developer. It is easy to strike a bargain so don’t hesitate in trying. In case the negotiation doesn’t work, it is recommended to come at least 4/5 floors lower and save a few lacs. This will matter when you are renting or selling out the property. It is recommended to restructure your payment schedule rather than agreeing to the standard schedule. The builder is mainly interested in making a sale when taking the booking. They might accommodate if you are not asking for something that they really can’t offer. You can do cost-saving if you pay amount at a later date and in small tranches. It is recommended to avoid interest-bearing borrowings such as from relatives, loans from banks or from parents. When investing in a new project that is under construction, make sure you check if the CC (Commencement Certificate) has been received on the particular phase, floor or tower. With a CC in place, the loan will not be disbursed by the bank. Also, you need to check which lenders have approved the property. It is advised to double check with your banker or mortgage adviser about this thing directly. At times, the builder may not know the exact status and this might result in your payment plan getting stuck. It is not advised to borrow money unless you are choosing to opt for overdraft kind of loan that will enable you to pay no interest. Also, opt for a pre-EMI (interest payment only) option as the residential project may get delayed and the cost of acquisition will jump every month towards the possession.