Serious investors prefer to invest in buying a plot in Hyderabad. Much effort made to buy open plots in Hyderabad will turn out to be a profitable investment.
Purchasing a home is a major investment in one’s lifetime. but, it is bogged down in several myths as well as misconceptions.
Myth 1: Renting is better than buying
A major myth surrounding the purchasing of a home is that renting a home is a better option than buying. The younger generation favors stocks and bonds as they yield better results than real estate. However, real estate purchases are considered to be performing asset investments. Buy a plot in Hyderabad and thus make a sensible investment in real estate.
Myth 2: RERA covers every project in the country
The Real Estate Regulation as well as Development Act was introduced in 2016. It brought forth a sense of discipline to the real estate industry within the country with rules for builders as well as clear guidelines for home buyers.
Myth 3: Only investments in metro cities are good
Investing in a metro city is advantageous. Conveniences, connectivity, proximity to one’s workplace are all pros of investing in a tier-1 city. . It is interesting to take note of the fact that Tier-2 and Tier-3 cities tend to have lower prices and a rapid appreciation.
Myth 4: Buy the largest and costliest property a person can afford
In case, a person happens to have spending capacity or needs a bigger loan amount, it does not imply that a person has to invest in the biggest as well as costliest property that he or she comes across.
Myth 5: Real estate investments a risky
Most investments are risk-oriented, be it stocks, bonds, cryptocurrency, or real estate, they all come with their risks. However, real estate is one of the safest investments that can be made and the associated risks are much lesser compared to its counterparts. It is better to investigate the builder before investment, the project is invested in, the deeds as well as documents, and costs. It is a good idea to buy open plots in Hyderabad as the investment is viable.
Myth 6: A big down payment is required to buy a home
Banks do demand that homebuyers make a down payment for a home loan, yet personal loans, jewelry loans, and down payment loans are a reality now.
Myth 7: Under construction homes are more pocket friendly
Though under construction homes may seem cheaper than ready-to-move-in homes to start with, yet, the hidden costs of investing in an under-construction home are several. Investing in an under-construction home involves paying the rent for a longer duration as well as the risk of construction delay. There is also the off chance that the builder does not provide all amenities they initially promised to deliver.
Myth 8: You get the same amenities in all projects in the same locality
The amenities a person gets during possession are much dependent upon what the person has chosen. Not receiving the promised amenities is a common complaint many new home buyers make. Choose a good and reputed builder so a person can get hold of one’s dream home without any compromises.
Myth 9: No-EMI-till-possession helps cut costs
Subvention schemes or what is also considered, the no-EMI-till possession schemes may appear as a person is saving money. A person can end up spending more at the end of one’s loan repayment journey. It is better to weigh the pros as well as cons of the subvention scheme before committing.
Myth 10: If the ads look good, the builder should be good.
Advertisements, as well as marketing, are part of every real estate project. It is better not to get carried away by the quality of the promotions as well as offers. It is important to take time out to research the builder well before making a decision
Conclusion
Home buying is indeed a pleasant as well as a rewarding experience for every buyer. Such myths surrounding it needs to be overcome. Buy a plot in Hyderabad and thus make a sound investment.
