The key to a successful property investment lies in defining the exact purchase parameters and following them. For instance, if you wish to invest in residential flats in Mumbai, you would need to weigh the pros and cons of several factors before you make the big move.
Here are some important aspects to consider and the pros and cons of each of them:
Choosing to live in the main city area
- Pros: The city offers you the advantage of having important establishments in close proximity. Other daily conveniences as well as cultural and retail establishments are usually concentrated towards the main city areas.
- Cons: A home here will cost you much more than a home in the suburbs. Also be prepared for more noise and pollution.
Choosing to live in a suburb
- Pros: You can expect to buy a home that’s within your means and budget. At the same time, a suburb will be quieter and will have a better variety of projects to choose from.
- Cons: If your work or business is located towards the main city area, be prepared for a long commute and higher fuel costs. You would also spend more time driving to work and back.
Choosing a 2BHK residential apartments in Mumbai
- Pros: Compact and easy to maintain. It offers just enough space for a small family and for the occasional visitors. It also costs less than a larger home.
- Cons: As you grow as a family, you might start feeling space restrictions. 2 BHKs are hence best for first-time home buyers that don’t have too many family commitments.
Choosing a 3 or 4 BHK apartment
- Pros: A sprawling home will give your family more space. These homes are great if you are a joint family or are planning to start a family soon.
- Cons: A larger home means more maintenance is required. Also, people often tend to forget that a smaller home may be planned in a better fashion to offer reasonably good space.
Choosing residential flats in Mumbai with latest amenities
- Pros: The pros in this case would probably outweigh the cons. You benefits such as safe internal play areas for your kids, parking space, in-house fitness facilities, and even a swimming pool if your project is ultra luxurious.
- Cons: The only con would be not getting enough time to enjoy all these amenities because of a hectic work life. If you are someone who travels all the time, then you might not really want to pay maintenance charges every month and not avail these comforts.
Buying under-construction residential apartments in Mumbai
- Pros: You have ample time to plan out your finances and segment your payments. Loans are easily available in such a case. You also have enough time to plan your interior decoration specifications and hunt for a good interior designer.
- Cons: You would need to wait for sometime before you move in. If you are in a pressing need of your own home, you could opt for ready-possession residential flats in Mumbai.