How to discover a real estate project for investment?
Discovering your ideal property can be tedious and chaotic. More so if you are a first time buyer. Below is a list of some of the ways which can help you in discovering your dream project.
1. Friend and family/Colleagues
Especially talk to folks who have invested already or the ones who are currently involved in property hunt. Ask them their approach for hunting their dream property. Will give a good knowledge of market condition, projects and price.
2. Online portals
Check one or two real estate portals to get some overview. Information might be misleading if it is not updated – especially the current price.
Pro-Tip: Exercise caution in what you get to know about a project. A costly project may not be that costly because of heavy negotiation opportunity and a cheaper one may not be that cheap – because of added overheads. Compare floor plans and cost carefully.
3. Property Expos
One roof to get a lot of info of multiple builders who are participating in the expo. We covered what role property expos can play in your property research on this blog. You can read here to understand more.
Pro-Tip: Ask questions, probe details given in brochure and demand copy of clearance certificates like RERA compliance, Fire NOC, Completion Certificate, Occupancy Certificate etc.
4. Read forums and blogs
There are multiple real estate forums and blogs including the one you are reading currently where you can get to know about projects of interest. Pre-launch or newly launched projects are considered hot as they get booked at very low price (sometimes much below cost price of the builder). Prices are expected to shoot within few quarters from launch. These projects get discussed or promoted by the Builder on forums for boosting consumer confidence in a new project. You can evaluate pros and cons on the basis of these info.
Pro Tip: Quora is also becoming a popular forum for real estate question and answers. You can post questions and seek answers from real estate experts. Check Get Me Roof Quora page.
5. Newspaper advertisements
Times Property(The Times of India), Property Plus(The Hindu) etc supplements update you on overall developments in real estate and city specific real estate project details as well.
Pro-Tip: Since a large volume of content in newspapers is promoted, exercise caution in what you conclude from given advertisements. Don’t bias yourself or get overwhelmed with information given. Do your own research.
6. Radio advertisement
Local FM channels give you constant update about promoted projects and running offers. Use this info to call builders/developers to inquire more about the offers and site visits.
7. Visit main office of builder
You can get to know details of all projects of a particular builder at their central office. Helps in cutting down time spent in site visits to each of the projects.
8. Contact a known broker for advice
A recommended broker from someone in your network can help you give good advice on projects on a neutral basis. Brokers can understand your requirements in detail and can suggest projects from usually vast pool of supply available.
Pro Tip: Before dealing with any broker for buying property check if the broker is RERA registered.
Read next article in Home Buying Guide series: 11 steps to shortlisting real estate projects for buying
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