5 things to consider before you invest in the Mumbai real estate market

Buying a house is a lifetime dream and a one time decision for many people, especially in an expensive city like Mumbai. This is one moment of excitement and stress at the same time. The excitement is when you look at those properties on the real estate website and feel that it is your dream house. At the same time, when you check the rates, you become stressed. Thus, a proper planning and a strong financial budget, will help you to block that property in Mumbai.

Here are a few more things to consider apart from planning and budgeting for your dream house in Mumbai:

  • CHECK THE GOODWILL OF THE BUILDER:

This is one of the important things to consider, as there are a lot of properties that come in the greenbelt or illegal areas of Mumbai. Check the builder’s past projects in the market and take feedback from the residents of those projects.

  • PROXIMITY TO THE WORK AREA:

This is one of the most important parameters. The distance of your work location and your residence should not be that far. It will help you to save a good amount of money from traveling and concentrate on repaying the home mortgage.

  • DISTANCE TO SCHOOLS, HOSPITALS AND MARKET:

Another important factor is check the education and medical emergencies. You need to ensure that your kidshave the same comfort of traveling till school in less time. Family safety is equally important, especially when you have elder people at home.

  • RESALE VALUE AND APPRECIATION IN THE FUTURE:

Mumbai is a happening city and a great place to invest through the real estate market. However, it is also wise to check the value of your location and understand how far can you earn the profits on your property appreciation.

  • AMENITIES:

It is your hard earned money where you are planning to invest and so it is important to check what benefits you currently have of residing in that place. Ask your real estate advisor about the same. Many contractors of Mumbai today make a full fledged city like residential place, where you get schools, hospitals, markets, club house, garden, park, jogging area, restaurants, hotels and parlors constructed by the builder itself.

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