Purchase Vs investment in property
It is probably well known to everyone that the purchase of a new home with modern features opens the way towards a lifestyle of your dreams.
you tend to choose a house built by a renowned builder in a better location that will satisfy modern conveniences.
So when it comes to the advent of a new life, buying a new home is the first step that most of us tend to take.
However, is this the only thing that can be expected from a residential property? Why don’t you start investing in residential property and enjoy the benefits of it?
With the purchase of an apartment, you get ownership of the new house.
However, investment in property generates passive income. If you invest in a residential apartment in MUMBAI or anywhere else, choose a property that will potentially guarantee you a high rate of returns.
You need to check the growth potential of the region where you plan to invest in a residential property. If the region shows no signs of growth or promise, this will become a financial burden in the long run.
On the contrary, a good investment, such as investing in residential apartments in Mumbai and various regions (such as Mira Road, Thane, New Mumbai, etc.) will generate revenue.
It could become an essential channel for wealth creation if you develop the perfect plan for it.
you should know these things before buying and investing in a residential property
Buying and investing: understand the concept.
Residential properties include a defined territorial area consisting of apartments or an independent house built for individuals or families per home. These are not to be used for commercial or industrial purposes.
These spaces are essentially reserved for professional purposes and provide residential use for a long period of time.
On the other hand, a real estate investment can be a long or short term investment. If we consider the short-term duration, the concept of “overturning” a house appears.
In this case, the property is purchased and renovated or renovated and is sold at a higher price.
You can also generate revenue by owning the property and renting it to others, or by selling the property at a time when the value has been appreciated.
For example, if you buy a house in Navi Mumbai near the upcoming airport, good schools, and colleges, the price of the property will automatically be high.
Other than that, there is a difference in both:
Purchase a residential property provides better living standards and meets the requirements of family members, long-term investment ownership of the property
some challenges: prolonged bank payments, bad connectivity, poor location advantages, etc.
Investment in property: Generate passive income, It addresses the growth of a region which in turn increases the value of a property by rental income or property sale
It can be short term or long term investment depending on your goal.
Possible challenges: uneven revenue flow, the property value may decrease, liability for repairs and maintenance costs, etc.I can explain this by taking an example of a metro city.
For example, if you consider Mumbai, you will come across a myriad of residential projects. So, whether you are buying a house in Mumbai or investing in a property, it is essential to do a full scan of the region you are specifically targeting.
Whether it’s northern or southern Mumbai, you always need to know which areas will offer you the best benefits to meet your needs.