Are you looking to invest in an independent villa or a row house? Undoubtedly it makes for an excellent long term investment as historically and being specific to Goa returns on investment have always yielded positive returns. Making rental payments won’t get you to increase your wealth and assets and thus investing money in buying a house or a villa will change it.
Although there needs to be some thought and effort put in to ensure that you invest carefully and make a solid investment.
- Choose the area in which you would be purchasing the villa. This could involve spending some time in the areas or even exploring homes on the web. A particular locality or area has plenty of implications on the cost of the property, rental income, and the return on investment.
- Stay informed on the current market scenario before buying to ensure that you get value for money. The best way to these details is to speak to different real estate agents and the independent valuers within that particular area. It is always best to not depend on real-estate agents or the developer’s advice. This becomes even critical if you are deciding to purchase off development plans. You need to understand that the price of a finished apartment represents what you have paid for.
- You need to visit different locations that would give you a good idea of which properties you are looking to buy. Goa has a variety of options each reflecting a particular purchase price. For example, the coastal areas of Calangute are priced a lot higher as compared to areas such as Siolim or Thivim.
- Within a locality, the proximity of the property to stores, public transportation, parks, hospitals, colleges, offices, the gym should also be factored before finalize a particular purchase.
- Also, critic whether the proximity the area filled with hustle and bustle such as to clubs, or to cafes or some other concert venues will allow you to live comfortably as well. No doubt close proximity to all modern amenities is a great thing to have in the area however it is also equally important to check whether the area gets noisy at peak hours. Would the noise affect your lifestyle? It’s always a better idea to arrange for an on-site inspection towards the evening or during the peak hour’s traffic before you finalize to purchase.
- The different security measures deployed at the project are also vital. Check whether the project has a surveillance system in place. Most gated community projects also have 24X 7 security personnel which off-course is an added benefit.
- Study the layout in detail whether you are purchasing the villa off developmental plans or even if you are inspecting the property. A layout that is efficient and suits your needs and lifestyle will have you a lot more comfortable living it.
- What is the maintenance fee you need to pay? Check whether car parking parks are demarcated in the plans. Most developers generally charge up-keep fees towards cleaning, gardening, security as well others have amenities such as a pool, club-house, spas, gyms, etc.
- If the villa is in a gated community discuss with the developer what cost of additional parking if you have the need for it.
- A lot of people do not think about this whenever you buy any new villa. This would generally cover municipal taxes, the property taxes, any assessment taxes, the water bills, the electricity charges, the elevator charges, and the charges of hired assistance; which include the garbage cleaner, gardener, and security.