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For Beginners: How to Successfully Invest In Real Estate

Posted by Lalithram Rajkumar, Saturday, 27th April 2019 @ 7:54am

  • People struggle in their daily jobs, not out of passion, but to achieve financial independence. Those who do it for passion never really struggle in the first place. But yes, people do crave a financially independent life that does not bind them to someplace or a job. One of the wisest ways to do it would be to start investing the money across various portfolios. In India, people literally are in a rat race to get government jobs. That way, they can live their retired life off of the pension that they get. But for others, investing money seems to be the way out. Some people do it in the form of bonds, others invest in gold, stocks & shares, equity funds, deposits etc.

    Surely, real estate is another form of monetary investment but only preferred by a few. Out of more than a billion people in our country, only a minute percentage of the same have invested in real estate and are benefiting from the same. If you’re wondering why such a small percentage of our population are investing in real estate, it is mainly due to the risks involved as well as the long duration commitment. In addition to that, not all people can afford the high down payment that comes with realty investment. But for those who can, real estate investment has its own advantages. To start with, the returns are high when compared to other conventional modes of investment. In addition to that, invest in real estate also acts as equity for the future as well as financial security for your progeny. It also acts as an additional and constant source of income in the form of rent that increases with each progressing year.

    Does it not feel good? Yes, it does. The thought of investing in real estate must have crossed every Indian mindset at least once in a lifetime. Since generations, Indians are experts at owning a piece of land of a house at the very least. It has only been a few decades since we have started using the same for profits. Of course, who wouldn’t? Taking into consideration the factor that everybody wants to own a piece of land, it is but obvious that people who have more of the same tend to use that in their advantage. People buying and selling properties have increased exponentially in the last 50 years in India. Ever since March 2003, when Government of India legalized 100% foreign direct investments, real estate sector’s growth in both commercial and residential sector has sky-rocketed and so have the number of people investing in real estate.

    If you are looking to start investing your income in real estate, it is never too late to hop on to the bandwagon. But, to assume that everybody finds success is mere stupidity and nothing more. Why? Because realty investments involve a lot of risks and are not everybody’s cup of latte. People need to put in their hard work and be knowledgeable in order to find success. If you are willing to do the same, we want to lighten the burden for you. Here are some basic principles that you should know before you plough money into real estate.

    •    Planning your investment: First and foremost, plan your investment and the duration for which you want to do it. Go for an apartment or a house if you want to have a constant source of income in the form of rent. If you plan to buy and sell for a profit, go with a site or a plot that fits within your budget. For those people who buy and sell, it is important that you remember this – buy low and sell high.

    •    Hire a trustworthy realty advisor: For any beginner, it would be wise to have a guide or a mentor before investing in any property. Hire a real estate broker who can do the hunting for you. Describe to him your plan and let him do the rest. Care should be taken to choose a trustworthy broker, one who can understand your needs and toils in your favour. Always you talk to many brokers before fixing on any. Never zero in on the first broker that you talk to. Sweet talking is their profession, keep this in mind.

    •    Research: After your realty broker has shown you a multitude of options, it is up for you to decide on a property that suits your plan of action. Research extensively about the property that you choose, its locality, the guideline value of the property, accessibility to it etc. Knowing more knowledge about the property helps you in analyzing if it is good for you or not. You could also talk to people in the neighbourhood for more details about the property.

    •    Documentation: People tend to dupe those who know less, especially in the documentation process. For your own good, get the documentation checked and verified from an external agency, if required. Proceeding to purchase a property without checking for its veracity is sure to bring you heaps of trouble, so beware.

    •    Being aware: It is very important for any real estate investor to be aware of all the risks involved, including the market fluctuations and the legality. Staying updated on what is detrimental is the key to mitigating the same.

    It is also important for any individual, an expert or a beginner, to remain patient and be positive during the investment process. Staying patient helps fetch you better offers for your property. Meanwhile, staying positive helps you to make good decisions while purchasing any better property. Another suggestion that beginners should follow is to start investing in small properties which can be found in Tier-2 cities. In addition to that, Tier-2 cities have the highest growth potential in the future so it would be wise to consider that fact. Mysore would be the best choice to invest in real estate in Karnataka for any beginner. site in Mysore has witnessed a growing trend of 44% from 2016 to 2018 and would be an affordable option for consideration. 

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