Real estate investment might not be a glamorous way to invest money, but it is surely one of the best ways to build wealth over a long period. Many exciting opportunities have lined up in Nagpur since the commencement of the metro. With many IT companies coming to MIHAN, properties around it are the new favourites among the buyers. So if you are looking to buy a flat in Nagpur, now is the right time.
Investing in real estate is a slow process, but it has guaranteed results over the long haul. Here are some points that show investment in real estate is a smart solution.
Many people invest in properties so that they can rent them later. This is a smart way to make extra money as the tenants paying rent add to your income. There is not much work to be done, you can utilise this time in other pursuits such as travelling, building your business etc.
As a property owner, there are many benefits you can avail that you must be aware of. Government offers tax benefits to people who are renting their property. This means that there are long term profits as the tax rates are significantly lower.
When we buy a property by taking a loan, it becomes easier to pay the EMIs of the loan. As the tenant pays monthly rent, it indirectly becomes the payment for the loan. Thus, your net worth increases every month.
As the loan is being paid off, the value of real estate goes up. Though there are fluctuations in the market, the prices may go up and down, but over the years the value gradually goes up. In the span of 30 years or so, the rate at which you bought the property will be lower than the current rate.
Increasing rates everywhere are touching the sky. The time will soon come when we will shell out a huge amount of money for things we need on a daily basis. In this ever increasing price scenario, the only thing that will remain constant is the fixed rate payment of the loans. As the cost of living will skyrocket, it will only bring extra money into your account.
Investment in real estate is one sector that is more stable. You control the amount of money you make, the kind of deal you’re part of etc. Every decision you make is in your hand. So to make a better deal or to stay ahead of the competition, you have to take the necessary action.
Keeping these points in mind, investment in real estate seems tempting huh? It is if you play your cards accordingly. It is always a good option to look for 2 BHK or 3 BHK flats in Nagpur in the upcoming areas like MIHAN, Besa, Hudkeshwar and Umred Road. One of the prominent builders in central India, Om Shivam Buildcon,has a township called Shiv Kailasa that is a good investment option for people looking to invest in property. All these points will help you take a safe dive into the world of real estate.