With the market slowly expanding and investment pouring in, many experts are suggesting making a smart move in this real estate industry. While it can be a big decision of your life, keeping in mind the resources it demands, you have to make a right choice and go for something which will appreciate in value with time. It may be a strange fact but creativity plays an important role in buying, selling or letting your house. A buyer has many options to choose from and he should be able to see some uniqueness in your property. Make your property attractive; spend a fixed amount on promotion through flyers, social media and mouth to mouth advertisement. Rate of interest also plays a crucial role in deciding upon such factors. A cut in repo rate would mean lighter EMIs and vice-versa.
Here are some ideas/suggestion over present real estate market-
As stated above, creativity has to be a part of your property. Home staging must be done, in order to get best possible outcome for home sellers. Use three colour palates in every room. Use odd numbers of pillows on bed, odd numbers of books on shelf and those book covers should match three coloured scheme. Avoid unnecessary cluttering around the house. Keep your junk hidden in some garage, basement or store room. It looks neat and your buyer will get space to walk, move and discover the place on his own.
Along with your property, you need to show some creativity in the area of marketing also. Hire a professional photographer from your agent. If he is not agreeing upon it, you should hire him personally. It will be the best money you will be spending on marketing. The photos of your property will be reflected on infinite number of websites and you do not wish to blow your chances, right? You can expect your photographer to climb over toilet and take pictures, stand on kitchen slab and play with cushions around the house to take those creative and useful shots of your valued property.
Open up your spread sheet and decide upon your finance. Create a unique finance outlay with seller acting as buyer’s bank. Seller finance is a good option for owners who have equity in their home and buyer lacking good CIBIL score but still have the ability to pay back the home. Both the parties can decide upon payback terms, interest rate and monthly payment.
There are many creative deals which can be made and one of it can be-offering a rent back. This happens when the seller remains in the house after you buy it and pays you rent for a short while. This amount is new buyer’s cost and not what they were paying when the owned it. For sellers, you can ask buyers to grant you a couple of weeks to identify and negotiate buying your next home and close both transactions together.
Another aspect of dealing in real estate is the dilemma of whether renting or buying the property.
While buying your own property can be a worthwhile goal, renting proves to be a smarter choice sometimes. Before you make this big decision of home-buying, consider all the pros and cons of it. Prices do vary widely and renting proves to be more economical than buying a house.
After calling the shots, if you are sticking to the plan of buying a property, you should save 20 percent of the cost of the total worth of that property. If you will put less than 20 percent, you won’t obtain best interest rate on the loan. Besides this down payment, you need cash to cover closing costs and unanticipated expenses along with proper credit score. Government sponsored loan programs may help you with lower down payment and good interest rate.
Additionally ask yourself if changing market trends would affect your job security. At the end, only you can decide if home ownership is right for you or not. A bad decision can have long lasting impact too.
Consider these points while considering real estate options and be proud of your decision.