As they say in film industry, the 3 most important criteria for a successful movie is Entertainment, Entertainment & Entertainment, the most important factor in Real Estate is Location, Location and Location.
Location is the most important factor that determines the value of your home in the short term as well as long term. There are several different ways of looking at the location depending on your goal of purchasing a home:
1) Purchasing a home for long term: If you are looking to purchase a home and live in it, it’s important to consider a location that is closer to work, schools and all entertainment options. The best location would be the CBD (Central Business District or City Center), however, with the property rates skyrocketing in the CBD area, it’s best to go for an upcoming area that is not too expensive but offers all the advantages of the CBD. As such an area is not fully capitalized; the rate of return on property will also be much higher.
This will allow you to commute to work easily, kids will be able to travel to school without spending too much time in the school bus and you will get to enjoy all the entertainment options nearby like restaurants, malls, movie halls etc.
2) Purchasing a home to sell it in short term: As mentioned above, generally the CBD area rates are already very high and the percentage of increase in the rates is not as high as a developing area. Hence, if you purchase a property in an upcoming area that already has a good clientele living in that area, there are high chances that such an area will turn into a hot location in next couple of years. This will also ensure that the rates increase quickly at the pace of development and you can make a good amount of profit in selling the property in next couple of years.
3) Purchasing a second home to generate rental income: If you are looking to invest in a property to generate regular rental income, it is important to look at the existing rentals in the area. Rent depends on several different factors, and again the primary factor is location. Anyone who is looking to rent a house would also want it to be in a location that is similar to someone who is purchasing a home to live in it. Hence, depending on the investment capacity, you can purchase a home in the CBD area or an upcoming area that has everything that a family would need.
Hence, whatever the reason, Location, Location and Location is the main criteria that you should be looking at before purchasing your dream home.
Durga Petals is an upcoming project from Durga Projects and Infrastructures Ltd in the prime location of Marathahalli Outer Ring Road, the heart of Bangalore’s IT corridor with proximity to major IT companies, educational institutes, shopping malls and more. Spread on 5 acres of land, Petals boasts of 8 luxurious sky soaring towers with each having 13 storeys. And that’s not all; it has a sprawling club house and 40+ recreational amenities.
For more details on the project, please visit http://www.durgaprojects.in/petals or call+919019555777.