How to Invest in the Right Property Within Budget in Trivandrum

Posted onSep 05, 2024

There are many avenues for investment, like gold, shares, precious stones, and property. The last one also involves an emotional component. Are you eager to buy property, but are unsure what your real estate investment strategies in Trivandrum should be? If you are finding it difficult to decide on the right property, we have some great tips for you. 

What’s your Budget?

How much money do you need to cover your monthly expenses? This should include your existing EMIs, utility bills, groceries, educational fees, medical expenses, etc., and a little extra for emergencies. Deduct this amount from your monthly income, and you will get an idea of the kind of monthly payments you will be able to afford. Based on this and your credit score, you can determine the loan amount you can and want to apply for. This should be your budget. You should aim to purchase a property that falls within this budget.

What are your Needs?

First, you need to decide if you need a plot, a villa, or an apartment. If it’s the last, there are certain things to consider when buying an apartment. This includes factors like the reputation of the builder, the location of the building, the amenities on offer, road access, availability - ready to move in, or under construction, and so on. You also have to decide whether you’re happy with a simple and functional apartment or want all the bells and whistles, like a swimming pool, gym, landscaped garden - the works.

Have you Done your Homework?

Even if you’ve decided that it’s an apartment that you want to buy, you need to know the market trends, and see what type of properties are the best investment in the current market. Which builder, what location, the exact apartment type, and more. And how will you do that? You need to check reviews left by homeowners about developers, projects, locations, and so on. Learn about the legal formalities involved in real estate transactions. Check if you can get a housing loan easily for the property in question.

Are You Getting the Best Deal?

Some builders may tell you that there are giving you a special offer, but you may be able to chalk out an even better deal. Don’t take anything for granted, and keep looking for the best deal for yourself. Try to book under-construction flats, or where new projects have been launched if you’re not in a hurry to move in, as these are usually sold for a lower price.

Is the Property As Claimed and Advertised?

Unless you go and physically inspect the property, you will not know if the actual matches the description. So, don’t fall prey to false advertising, and see for yourself how the property is, even if it’s an apartment. How good is the construction quality and layout? What amenities have been included? Are there any sustainability initiatives? How secure is the area, the building, and the flats? What measures have been taken from the safety perspective? Is the quality of tiles, paints, fixtures, etc. used in the apartment good? If it’s an older flat, check for signs of aging, cracks, leaks, and so on.

Conclusion

There are innumerable future opportunities for development in Trivandrum, making it one of the most preferred destinations to purchase real estate in Kerala. Trivandrum has several globally reputed educational and research institutions, hospitals, cultural centers, etc. The city is blessed with abundant natural beauty also, making it desirable to live in.

The demand for real estate has skyrocketed in Trivandrum in recent times, so it is the ideal time to jump in. The longer you wait, the more expensive property is likely to get in the state capital.

If you’re looking for the best property, Varma Homes is the right choice - projects in top localities with world-class amenities, visual appeal, and superior construction. Varma Homes adhere to all government norms and regulations like RERA and others. Check out the premium 2 and 3 BHK apartments today.

FAQs

What are the best tips for buying a property within budget in Trivandrum?

To buy a property within your budget in Trivandrum, start by determining your financial capacity, considering all monthly expenses and potential EMIs. Research various property options, such as plots, villas, or apartments, to see what fits your budget and lifestyle needs. It’s also important to look into market trends and developer reputations to ensure you’re making a sound investment. Don’t forget to visit the property in person to assess its condition and match it against what you were promised.

How do I know if a property in Trivandrum is worth the investment?

To know if a property in Trivandrum is worth the investment, check the location, amenities, and future growth prospects of the area. Research the developer’s history and read reviews from other buyers. Visiting the property site is crucial to assess the quality of construction and the surrounding infrastructure. Understanding market trends and comparing similar properties can also provide insight into whether you’re getting a good deal.

What factors should I consider when selecting a location for my property in Trivandrum?

When selecting a location for your property in Trivandrum, consider proximity to essential amenities like schools, hospitals, and public transport. Evaluate the neighborhood’s safety, cleanliness, and overall vibe. It’s also important to consider the potential for future development in the area, as this can significantly impact your property’s value over time. Lastly, think about your lifestyle needs and how the location fits into your daily routine to ensure it’s the right choice for you.