Buying property is one of the most important decisions of an individual’s life and that’s why they look into each and every aspect of it before coming on to any conclusion. Among various factors, the future of the property i.e. the Return on Investment also plays a crucial role in the home buying decision.
The future potential of any property depends on various factors such as surrounding infrastructure, interest rates, local population, location, and demand and supply. So, scroll down to know various factors that a homebuyer must keep in mind and that generate good ROI too.
One of the most key factors that play a major role in property price hike is the location of the project or the property. Obviously, people love to buy those properties which are located near commercial spaces, have developed social and physical infrastructure etc. Such places steadily see hike in land prices that ultimately led to price appreciation.
If your property is located inside a project, then it will definitely have better future potential as these days people give thumbs up to such properties which fulfill all the basic demands of a family like swimming pool, clubhouse, kids-friendly areas, sporting facilities etc. Security also plays a major role in price appreciation.
Property location is another popular aspect which is in demand these days among home buyers. Before purchasing a property they look for several factors like vastu-compliance, Sunlight, ventilation, shape, and size of the plot or apartment etc. So, if your property comes with all such features, then obviously you can get better ROIs in the future.
Track Record of the Developer
These days a homebuyer readies to pay any price if the property is developed by a known realtor. As with a better track record, also comes quality assurance, use of good construction methodologies, timely delivery of project etc. All these factors eventually lead to increase in property price.
While in general, inflation means a rise in the prices of various commodities. In the Realty market, inflation too has a deep impact on the overall property price appreciation. Inflation leads to an increase in land prices, labour, building materials as well as various building certifications, that eventually lead to an increase in property price.