The real estate market offers a wide range of residential apartments across various ticket sizes for investors and end users. As an investor or buyer, if you are willing to research and understand certain factors and give ample time for the investment to perform, then residential real estate investments will prove to be one the safest asset classes of investment.
Redmaple Property Consultants can help you sum up the perfect investment with our expertise and vision in real estate. Backed by professionalism, our property consultants are highly experienced in the industry to give you deep insights on securing a great investment portfolio. In this narrative, we shall discuss the basic factors to keep in mind while buying or investing in the residential sector.
Choose the Right City Location
The right property that fits in your portfolio should score well enough in terms of its location. The home depreciates its value over the years, but it’s the land that appreciates the value. Real estate is not monolithic in nature. Each residential market within a major city will have different demand supply dynamics.
So we should look for cities that are witnessing rapid demand growth. The factors that tend to affect the demand are type of job opportunities, population explosion and demographics, demand supply absorption, etc. Identifying the in demand location will facilitate growth of market value and make the investment more safer.
Household Income of the City
The property prices in a city is not just determined based on inflation, it is also calculated based on household income of the city’s workforce. As a prudent investor, you should evaluate the demography of the jobs in a particular city. How well the economy is driven forward, its infrastructure growth, manufacturing units, technological advancements – all these things need to be examined.
Along with these factors, the socio-cultural amenities and its daily life practicality needs to be checked. You also need to examine the connectivity and proximity of the project to quality social amenities such as schools, colleges, hospitals, malls, etc. These factors should be high on the list for those who are looking for property investment and diversify portfolio.
Architecture and Design
The multiple waves of pandemic have forced us to spend more time at home. So the demand for having larger and flexible spaces with more amenities are surging among the home buyers. In this scenario, we need to know the design and architecture of the project. You should be familiar with technical terms like carpet area, master plans, floor plans, PLC, design and magnitude of usable spaces of a project.
This will give you a clear idea of whether the residential project is matching your purpose and requirements. For example, if the project has more large open areas within the privacy of a home, then it cannot be ignored for a family who wishes to relax without stepping out of home. So understand your needs and evaluate the property before investing or purchasing.