Tips for First-Time Homebuyers in Gurgaon
If you are thinking of being an investor, but you are in a dilemma as to where to invest? I have the perfect answer which will sort all your queries. Most first-time investors get stuck between whether they should invest in real estate or stock market.
I should tell you one definite thing if you decide to invest in the stock market, then there is a high possibility of you facing losses because shares and the stock market is a highly unpredictable market.
On the other hand, if you decide to invest in the real estate market, it is going to yield great profits for you. Moreover, it is an even more safe and beneficial investment if you put your hard-earned money in the real estate sector of Gurgaon.
Town and Country Planning Department of Haryana has released the Gurgaon Master Plan 2031. This plan is to create a prosperous economy by producing mind-blowing infrastructure along with a favorable market for global companies.
This plan aims to cater to a population of 4.25 million people. Moreover, the Gurgaon Master Plan 2031 will have a direct impact on the sales of household units.
If you are a first-time investor, you should go ahead with Gurgaon's real estate market. As we move ahead, I will give you some prominent tips that will help you in your journey of your investment in the real estate market.
B) ABOUT GURGAON
In today’s time, most people who are thinking of relocating or making an investment for the first time prefer Gurgaon.
This city has witnessed an extraordinary level of progress and evolution in terms of the real estate sector as well as the infrastructural segment.
Due to tremendous development, buying or investing in a dream home is like achieving the most significant milestone in your life.
Moreover, the real estate market of Gurgaon is in its booming phase for quite some time. As the residential sector of Gurgaon has flourished tremendously, there are numerous options that are offered to investors.
For first-time buyers, this experience can be an overwhelming one. As a result, I am going to suggest you some major tips that will explain to you the right way to take every step in your real estate journey.
1. ANALYSING YOUR BUDGET
This is the first and foremost step before you initiate your search for the perfect home. It is crucial to analyze your current financial situation by calculating your income, old debts, and your ultimate financial goals.
If you are planning to take a home loan for your new household, you should carefully analyze that your EMI should not be above 25% of your monthly income.
2. DETAILED ANALYSIS OF MARKET
The residential sector of Gurgaon is exceptionally vast as here, you are offered diversified options. For instance, Gurgaon provides you with independent builder floors, residential apartments, villas, and plots.
Conduct a thorough analysis of the locality, neighborhood, property kind, prices, and infrastructural development. Now, you should compare your budget with the properties that you have shortlisted.
Another important reason for conducting a detailed analysis of the market is to look for recent price trends and how much capital appreciation that particular property is offering.
3. HIRE AUTHENTIC REAL ESTATE AGENT
Once, you have shortlisted the location, the next crucial step for you is to look for a well-reputed agent who has built credibility with existing or current potential investors.
Check for the agent’s existing track record, seek recommendations from your known people, and look whether they are licensed brokers. An authentic real estate agent will help you shortlist the best properties available from a gigantic range.
The agent will help you find accommodations that suit your budget, all this will make the selection procedure much easier for you.
4. EXAMINE BUILDER’S EMINENCE
Shortly after you hire a real estate agent, you should start checking for the credibility of the builder’s property in which you are interested.
You can visit the official website of RERA to verify the authenticity of the builder. Moreover, you should also look for the existing works done by that particular builder, client reviews and whether they deliver the products on time.
As a first-time investor, it is more important for you to check whether they acquire all the necessary certificates along with being free from all legal disputes.
5. LOCATION AND CONNECTIVITY
This is one of the most significant steps which takes place once you are done with all the above-mentioned steps. Now it is extremely vital to finalize a location where you want to invest.
My advice here would be to select a location that is safe while being in proximity to all infrastructural facilities and lifestyle destinations.
It is very important to reside in a location that provides seamless connectivity with all other areas of Gurgaon. Location and connectivity are two significant factors that determine a smooth and stress-free life.
If you are a potential investor who is looking for a good property to invest in, then I have amazing information to give you.
EMAAR URBAN OASIS
Emaar Properties, a well-reputed and revolutionary builder is launching a mega residential project, i.e. EMAAR URBAN OASIS.
Putting your hard-earned money into Emaar Urban Oasis is going to be the best investment an individual can make in their life. This project is the best place for individuals of every age to enjoy each day of the rest of their lives with the best of everything.
Emaar Urban Oasis offers you to live in the lap of luxury by providing unique amenities, 24*7 well-equipped infrastructural facilities, a five-tier security system within the residential accommodation, and mesmerizing views of its surroundings.
Residing in Emaar Urban Oasis is located in sector-62, Gurgaon which is a prominent part of Golf Course Extension Road. I must inform you that Golf Course Extension Road describes the new future of Gurgaon.
If you invest in the location of sector-62, Gurgaon then you are in for a treat. Investment in this area is going to yield exceptional profits.
In the below table, you can easily analyze that the prices for the residential segment are increasing tremendously every year. Hence, it is true when one says that the residential market of Gurgaon is a highly demanding sector. All this leads to a rise in the price appreciation of your investment.
RISE IN PRICES OF SECTOR-62, GURGAON (2019-2023)
Rs.9040 per sq. ft.
Rs.9344 per sq. ft.
Rs.10320 per sq. ft
Rs. 12370 per sq. ft
Rs.14812 per sq. ft
6. CHECK OUT ALL AMENITIES
Make sure that while finalizing the property, you are checking for the presence of all the ultra-modern amenities within the residential project.
It is an exquisite feeling to have accessibility to all high-end amenities such as an infinity pool, garden, playground, sports court, walking path, multi-purpose lounge, games room, clubhouse, restaurants, cafeterias, etc.
All these amenities are important to make one feel as if they are living a lavish lifestyle. It ensures an upscaled lifestyle for all the residents.
I hope this article helps you to help all the beginners who are entering the world of real estate for the first time.
I have mentioned all the prominent points so that it will be much easier for you to make a final decision. It will definitely help you to make a well-informed decision.
Investment is one of the biggest decisions of our life and it is highly significant to be sound and careful while finalizing your ideal home.
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