A real estate by definition means an immovable property consisting of houses and lands. Therefore, investment in real estate sector can majorly be driven by two factors such as housing and an investment opportunity that can be cashed later or can generate a return through rent and others.
The real estate investments in India were unfortunately influenced by the black money (money earned but not shown in the income statement). In fact, the black money in real estate sector was accounting for almost 80% of the total payout. Having said that, we mean only 20% payout was done in white money (i.e., through the recorded transactions) and the rest 80% of the amount on the purchases were paid in cash. Therefore, the black money hoarders were manipulating the demand in the real estate markets in their desperation to make those black money good.
In consequence of the black money rolling in the real estate sector, the prices of the real estate properties in India were soaring. In other words, the circulation of black money actually caused flip-flop in the Indian real estate markets. After the demonetisation of the high value Indian currency notes like 500 and 1000, the real estate market in India has become responsive and the prices have gone downward somewhere near 25 – 30% even in cities like Delhi.
Being a commoner, you may not have access to the accurate information on the real estate properties even in your niche market. Therefore, you need an expert who will assist you in your endeavour to get the best value of your money on a purchase here.
KEY AREAS OF RELYING ON EXPERTS
While hiring the services of a property expert, you can be double sure that the information provided by him/her are correct. Having said that, we mean you can get a clear understanding of the property under consideration. The best part is that an expert plays the role of a mentor and guide to you during the purchase of a real estate property though you reserve the right to say yes or no to a property recommended by a property expert. At the same time, you can ask for a property at an asking price.
For instance, you have a budget of INR 1 crore for a property purchase. So, you have the liberty of asking the expert to propose those properties only to you that fall within the said price bracket on one hand and on the other, you can set your priorities right in terms of amenities at the said property. Now, the expert has to find out your type of the properties and recommend them to you.
By engaging an expert, you get innumerable professional assistance from him/her during a property purchase. For instance, you can get online access to many properties that the expert has on his/her roster. Simultaneously, the expert can recommend some properties with relevant details such as HD (High Definition) photographs of the property from different angles, movie clips of the property, measurements, and landmark, if any.
You may choose to take a loan against a proposed purchase (which is advisable too since you can put your own money in some other productive pockets such as your business). An expert can help you get that easily as he/she by default has good tie-ups with the financial institutions. However, taking a loan (mortgage loan) can help you get tax relief on your income.
Ease of Ownership
When you hire an expert, you actually buy the peace of mind. After all, an expert is concerned about his/her brand value and reputation that he/she has earned over the years. Therefore, an expert will by default take you through the journey of owning a real estate as comfortable as possible for a lasting impression on you.
This is yet another pleasure of hiring an expert for the job. The expert will present the best deal for your money creating a win-win situation for everyone involved in the process.
However, an expert is the one who has knowledge and resources on subjects bespoke to your need. For instance, you see a doctor when your health starts falling. Similarly, you should rely on experts when buying real estate. To our findings, this works as a stitch in time that saves nine!