The three biggest mistakes of a real estate investor

Investing in an under-construction project and hoping for a timely delivery

Over a period of time, people have realized that investing in an under-construction property carries little benefits.
One thing that drives people to an under-construction property is the pricing. But with builders coming up with surprises like additional charges along with the ever increasing registration rates and government taxes, this only benefit has been seriously subdued.
It is always more sensible to see a ready to move property, identify its quality issues and plan your finances better.

Investing in a project from a builder with poor credentials hoping for improvement this time

People are driven to buy properties from builders with poor credentials with the assurance that builder will do good this time. However, like always, builder is more likely to repeat the mistakes.
Remember, quality may improve with a better contractor but the attitude wont.
Unreasonable charges, delays, builder maintenance issues etc. would remain.

Investing in a new builder project hoping for a good product with this being its first venture

Brokers and builders suggest that this being builder’s first project or first high rise project, builder is bound to do well.
However, more so, this just turns out to be another marketing gimmick.
Refer our checklist to identify a good new builder project.

Comments/Feedback invited.

Last updated: April 15, 2015 at 13:42 pm

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