September 22, 2023
Real estate is by far the safest investment instrument that everyone is searching for in today’s time. To a lot of traditionalist folks, real estate is the only channel that can potentially provide returns like you won a lottery in compounding. Yet there are particular misconceptions about real estate investments that prevent many from trying their good luck in the world of the concrete jungle.
The majority of people do not buy or sell a home on a regular basis. It’s something you might do once every decade, or even once in a lifetime. Despite the fact that most people only deal in real estate on a sporadic basis, they all believe they understand how it works based on the experiences of friends and family members, stories they’ve heard, and books they’ve read.
Although technology has revolutionized the way homes are bought and sold in recent years, some parts of real estate remain unchanged from when your parents purchased their last home. You might be amazed at how much has changed if it’s been a long time since your last transaction.
Consumers now have access to a wealth of information thanks to the internet, but not all of it is equal or even reliable. Everything you see on the internet should be taken with a grain of salt. Real estate myths can cost you money when it comes time to buy or sell a house if you believe everything you hear or read.
Here we have debunked some of the incorrect myths related to Real Estate.
Truth : Property buying is a tricky affair. No one can time the market perfectly. But one may try to do so by analyzing historical data through a real estate agency. Do not be afraid that you have missed any “perfect” time to invest. It’s your investments that should be perfect; rest time will take care of itself.
Truth : Luck may play an essential role in your investment decisions, but ultimately, it’s your extensive market research and investment disciplines that determine the return on your investments. Do not be swayed by non-physical things like luck in your real estate investment journey
Truth : In today’s time, the highly scrutinized regulations from higher government bodies such as RERA are a significant sign of a hassle-free buying journey for the buyers. There is more transparency in the documentation and much fewer possibilities of fraud. Always buy RERA registered real estate only.
Truth : Quite the contrary, most landlords who invest generously in the interior decor of rented properties tend to get higher rents and appreciate aesthetics from their tenants. Who wouldn’t want to rent a lush, aesthetically curated apartment?
Truth : Had everyone learned the power of compounding, they would understand that the earlier you start to invest, the more fruitful returns you reap from the later years of holding the property. If you are young and wise, always choose to invest in assets that appreciate exponentially over time and show the magic of compounding in value over the years.
Many more such grappling myths about real estate investing continue to dissuade people from actively investing in real estate. Informing oneself of facts and figures and ignoring bias and dogma is a sure-shot way to get the maximum returns of your real estate investments.
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