How to Choose Right Location for Your Home

We all heard the saying, "location, location, location", when talking about buying a house. Do you know why people give such advice first? Because it determines the individual's lifestyle as well as the future value of the investment. So, every step on the way to buying a property in Hyderabad should be taken with extreme care. Here are a few tips to help you in finding the best location for your home.

• Your Motto/motive: Choose an area prioritizing – lifestyle, accessibility, return on investment which again varies between rental incomes or equity investment Want to sell on value appreciation.
• If your priority is a lifestyle: Typically every city has a very few areas matching your lifestyle and budget. Visiting the locality before taking decision is important. Shortlist the areas you like and just browse the real estate websites to analyze the projects, property prices in those areas of the Hyderabad. Better lifestyle is the key to health.

1.     Opt your neighborhood, which has at least one of your recreations spots – jogging track, play ground, park, gym and a shopping mall will be an add-on to your lifestyle.

2.     Research on Neighborhood: Research and choose the neighborhood that matches with your lifestyle and personality. As different neighborhoods will have different characteristics. For example: if the neighborhoods are clumsy and make noise all the time, will you be able to spend peaceful life?

• Accessibility: Sometimes moving few meters may save hundreds of rupees.  Smart buyers do their homework.  If accessibility is your priority, you need to know the latest updates in the area.

1.     Know the Local City Developments: Check any developments happening in that area like new shopping malls, metro rail projects, upcoming industries, companies, etc. By knowing, it will not only improve your lifestyle but also the value of investment.

2.     Get Information on Schools and Colleges: You may not have children now, but in future you may have. So don't neglect, do some research and get information about the schools and colleges. Ask neighbors about their opinions and views on area schools, colleges and also see the reviews over the internet. The areas that have good schools are in high demand in the real estate market and also its resale value is high.

3.     Get information on Transport Connectivity: Check for transport connectivity in your area – Metros, bus services, railway station, and airport to reach your destiny (office,schools, hospitals, etc.) in a reasonable time. If the area is located close to public transport, then the appreciation for the property will be higher than the area with less connectivity.

4.     Check the Area Safety: Safety is a top consideration that nobody would like to compromise. Do some research and get the facts about the crime rates in that locality, if not enquire in the local police station. Because there might be situations, your parents may be alone or you may return home in the late nights.

5.     Check Public Services: Walk around the locality and know the quality of public services in that area like streets, parks, police station, fire station, hospitals, libraries, water supply, electricity supply, etc.

• Return on Investment: Investing smartly on the real estate is never a losing bet. If you are looking for a cash flow investment i.e. a fixed monthly return on your investment. Find the locality near to offices. Rental income varies from country to country and city to city. If your city has good rentals opt in for cash flow investment.    

1.     Converting single unit to multiple units is the current trend in fast growing cities. Investors buy a single unit and divide them into multiple units of houses to gain extra margins

 

2.     Equity investment in a house depends on your priority as a long term or a short term. In General equity investment is made by real estate investors who have complete knowledge of the market as well how can do their analysis on a project basis.

Choose the best location for your home by doing thorough research, analysis with patience to enjoy its results.  Also, don't forget to take assistance from the right experts in your property journey.