Since the day you start earning you want to buy or invest in a property that suits your requirements. By the time this dream starts turning into realty, and finally you start searching for a property, you face a lot of questions. Some of the questions that arise are whether an apartment or a plot, renting out the property or staying in your own home. In order to get the best deal, you should have a clear picture in your mind as to what you are looking for, and the kind of property you are searching, you ought to ask the correct questions.

Will you rent out the property and use the rent amount to pay your EMIs, or would you be able to pay back your home loan installments while you reside in your newly bought home. If you are looking forward to purchase an apartment, or a plot, then you surely need to think about how you will handle your finances and continue your current lifestyle.

The property location will influence both the kind of tenants you will get and the type of returns on investment you will be acquiring. Areas that have higher employment opportunities are likely to get more tenants. So you should always check the property location for current or projected parks, malls, movie theatres, public transport hubs like the Metro and all the other factors that can help you to get more buyers or tenants.

DEVELOPMENT PROSPECT

Gather all details about any new project that is being developed or has been zoned into the locality. If there are a quiet few new business parks or malls coming up in location near your property then it is possibly a good growth neighborhood. On the other hand, do keep a track of new developments that could deteriorate the property prices in the locality like widening of road etc.

LEASING OUT

When you are purchasing an apartment, do check the list of amenities offered by the developer within the premises, property location and quality of construction work. Prospective tenants these days are looking for well furnished apartment with wardrobes, utilities in the kitchen and bathroom furnishings, so ensure that your apartment has all these facilities in place. Also keep a record of all required lease documents duly signed by the tenant and you in order so that every formality can be completed as early as possible.