Invest in the Right Residential Property – Secondary Factors

When buying a property there are many things you need to consider – Location, Floor Location and Family Considerations being some of the key deciding factors. However, there are several secondary factors that you should factor and then make an informed decision.

Basic Facilities Provided: Take into consideration the basic facilities that are provided with the flat. Account for amenities like water and power supply, back-up power arrangements, security, elevator, parking facilities etc.  Consider if there are facilities like public transportation, schools, hospitals, marketplaces nearby. Though flats with all or most of the aforementioned benefits will be a tad bit costlier as an investment, in the long run they will save you a lot of time and money.

Budget: It is one of the most important factors when making a property purchase decisions. Most people resort to a bank loan when purchasing a house. It is crucial to discuss the associated fine print, in elaborate detail as well as the EMI options. When considering EMI options, make sure you factor that into your monthly budget, barring your regular monthly expenses. Also discuss it with your family and ensure you have a contingency plan handy, in case the funds run dry for a particular month.