Sizzle Properties blog

Are you a serious buyer?

 

In this article, we look at the very important self-reflective question of – Are you a serious buyer of land?

Let’s first define who a serious buyer is. A serious buyer has the following boxes well-ticked:

1) An arrangement of sources of funds

2) A clearly defined purpose for buying land

3) A timeline within which to purchase

An Arrangement of sources of funds – A serious buyer is one who has understood his/her financial situation. This person has funds to make a down payment and often a steady and reliable source of income to make a strong case to take out a loan from any leading banks. We can also see serious buyers who have sufficient funds to purchase property without taking out a loan. But, such buyers may not be first-time buyers. Such buyers are typically creating assets in the form of land. Our experience tells us that in the emerging real-estate markets of Bangalore outskirts, a loan-taker property investor occupies 75% of the customer base. The question is, are you part of the 75% who has figured out funding streams for investment in land?

A clearly defined purpose for buying land – A serious buyer, besides holding a fair idea about arrangement of funds, has a reason to buy land. Typical reasons include immediate construction of a private home within a secure layout, future construction of a private home, first investment for future liquidation and non-primary investment for future liquidation. A senior buyer may purchase land to pass it on to the next generation – a very typical reason to secure the future of the next generation. Since with inflation, cash gifts over time lose value, land appreciates at unprecedented rates. A serious buyer has their reason well imprinted. Such a buyer has a long-term vision in mind.

A timeline within which to purchase – A serious buyer has a clear idea of when to hold ownership of the land. Since funds and reasons are in place, the logical third question is by when do I want to own the land. A buyer like this has a realistic time line, and sufficient time to ensure each step of the process has his/her full attention and concentration. A serious buyer is often not in a rush and doesn’t over-research about options. A serious buyer goes into the market with a clear set of thoughts and looks for a company and location that can offer him the best within the framework of budget, timelines and location.

Ask yourself – Are you a serious buyer? Do you want to become a serious buyer? The research about availability comes at a later stage. Approach buying land in a systematic way to ensure your investment in terms of time is wise and you get the best deal.

Best Residential developer In Bangalore – Sizzle Properties 

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Tips for Property Investment

 

 

Here’s a quick guide to investing in property in Bangalore for first time buyers:

 

  • Always verify property documents with a reputed lawyer: As laws and policies change often, you must spend the extra time and effort to have documents verified by lawyers. This may seem time consuming, but most sellers allow you to pay a small token advance towards a piece of land you are interested in to give you time to verify and decide. Often, this advance is 100% refundable. It’s best to book what you like and ensure your documents are favorable to you and your future.

 

  • Always visit previous projects by developers: This important step in decision making will give you a clear picture of what to expect. Property developers who have a legacy of maintained developments will gladly show you their past projects. You can use this opportunity to see how the land value has appreciated as well. This generally gives buyers a calculated insight into their investment.

 

 

  • Always talk to old clients about their investments. When you talk, ask about ease of transactions and why they chose a developer over others. Personal testimonials always give you the best insights. A transparent developer will share their references with you.

 

  • Finally, always be wary of new comers in the market. Newcomers may not have the know how that seasoned developers have. Those who have been in the business for a while usually have in-depth knowledge and experience that a new-comer may simply not. Seasoned developers have first-hand experience from doing multiple projects. They are generally better prepared to handle projects, deliver on time and give the best service.

 

Remember, in and around Bangalore, the best time to invest in land is now!

 

 

Residential Developers in East BangaloreSizzle Properties Pvt Ltd

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