Top 3 myths about buying a real estate property

Are you planning to buy a home? Some serious misconceptions are deeply rooted in the typical buyer’s mindset and can affect your investment judgement. In this article, you can find the top 3 myths about buying a real estate property so that you can take a concrete decision considering all the aspects.

Buying a home is not an easy task at all. It demands a lot of research work and good planning. Things will be harder if you are a first-time home buyer. Although you can hire a real estate expert, a little research from your end will give you confidence about your investment. Myths are the easiest thing to find in the market. Let’s bust the top 3 myths exist in the market.

This is the common misconception people have. As a result, most of the middle and upper-middle-class people don’t even consider to buy a home in the cities. There is no hard and fast rule to pay 20%  of the total amount as a down payment. Most of the established real estate companies like Antriksh Group, Diamond Multi  State CGHS, are offering excellent offers, and that includes a very low initial down payment. 

Some people prefer renting rather than buying a property. This might be an individual preference and varies from person to person. A rational mind can analyse that, in the long term buying a home could be a more suitable option. No doubt, monthly EMI will cost you more than your rent, but the point is in the first case you are investing whereas the latter is only spending and there is no return in future. 

Home is an asset, it will not only shelter you to live, but also you can earn a good amount by renting your house. You can even sell your house and get a handsome amount of sum in future. Renting is a dead investment, which only fulfills your immediate need but visionaries will opt to buy home instead; any day.

Big market players always deliver the best result; there is hardly any truth in it. In the last decade only, several big-names in the industry were criticized and penalized for the poor and delayed work whereas some small and creative companies got a much-deserved appreciation for their skillful work and timely project completion. In markets like Delhi, the state government policies like MPD 2021, stands for Master Plan of Delhi, are helping the buyer to trust and buy a residential or commercial property without any hassle.

People who are interested in buying property in Delhi region should consider different schemes like Delhi Urban Vikas Yojana, which comes under DDA land pooling policy in the PPP model. The same goes for other states as well.

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