Real estate is fast changing into a sprawling business. Gone are the days when people used to buy property only to live and operate from.
Nowadays, prudent investors are parking their savings in real estate and with the economic push, making it big in no time. Here’s how real estate investments help produce regular income and savings:
Rental income in properties in Zirakpur, Chandigarh
Investing in a property other than your residential accommodation and putting it up on rent in and around Chandigarh, and Zirakpur helps you enjoy double the returns. While the prices of the property keep escalating with time, the rental income ensures a steady flow of funds on a regular basis. With year bound rental contracts, the payouts increase every year.
Flipping Real Estate
Flipping real estate is a concept wherein the investor buys an inexpensive home and sells it off at a higher price after making the required improvements, amendments, alterations, and additions. The selling price of the property includes the cost of property, the cost of upgrading and maintenance and the profit over and above the costs. Aspects like location, construction material, and the facilities incorporated, all put together with help determine the actual worth of the property.
But making money from flipping real estate is not easy. It requires in-depth knowledge of the market and huge capital to invest up front. Despite being a highly profitable venture, lack of knowledge can leave you cash strapped in no time.
Here are some important things you should know before you indulge in real estate flipping:
Being a capital-oriented business, it’s imperative that you have the required start-up capital. You can also opt to take a loan on the property, but calculate the interest amount beforehand. It’s better to invest in a cheaper proposition than shelling out huge funds in form of interest.
Once you have the required funds, choose the suitable location after proper research and market assessment. Location, nearby amenities, connectivity, and approach – all are important aspects that buyers consider while purchasing a property. Depending upon the pocket, one can opt for independent houses, apartment in buildings, duplex houses, commercial estate, etc.
Investing in pre-selling houses is also a lucrative bet. Established developers sell apartments and houses while their projects are still in the planning stages. At this stage, these properties are priced well below the market cost. Once the construction is complete and the possession is handed over to the investor, the rates multiply and increase manifold, giving a more than decent return.
But given the fact that real estate market is extremely competitive and requires thorough research and understanding, seeking help from professional Realtors proves beneficial.