Property Price is a bit subjective in nature. In the saturated markets, the property price band is very narrow for a particular area. On the other hand, in the upcoming areas the property price band is as wide as 25%. In most of the cases, a buyer is not able to judge correctly thus end up taking the wrong decision. In my opinion, it is more to do with perceived value. In Mumbai, the "West" side of western suburbs command a premium compared to the "East" Side. For example, The property price in Andheri (West) is high compared to Andheri (East). On the contrary, the rates in "East" side of ... Read More
Property Price Trends – Are they Reliable or Misleading
Property price trends available on property portals is one of the important indicators for potential buyers. The biggest dilemma for any buyer is whether he is paying a right price for the property or not. On the other hand, owners are concerned whether they are getting the right price for their property or not. In my post, Fair Value of Property i shared how to find the right price of the property. It basically considered the rental value of the property to arrive at Property price trends. In highly skewed markets like Mumbai and Delhi, it might not be the right way to find out the Property ... Read More
5 Points a Property Buyer should Never Tell a Seller or Broker
In my journey so far, i observed two types of property buyer. The first one are those who are an Honest, and the 2nd category is of Smart property buyer. Honesty is the best policy but not always. Here i am not saying that a property buyer should be dishonest. I am trying to say that as a property buyer you should reveal only that much what is required. On the other hand, honest property buyer reveals all their cards in the first show. It goes against the natural law of negotiations. In past, i shared a post on how to negotiate property deals. This post is a continuation of same. In this post, ... Read More
Property for SALE – 5 Mistakes a Seller Should Avoid
I put my property for sale few months back, but i have not received many queries. Last week, one of the sellers asked me over the phone. He further added what should he do now?. He also gave me feedback that i don't frequently write for sellers. Candidly i told him that as the entire risk of a property transaction rests with the buyer. Therefore, i have a soft corner for the buyers :). I promised him series of posts on the property for sale. This post is first in the series. I hope he is reading :). Similar to property buying even when seller put his property for sale it requires proper ... Read More
Renting a Property – 5 Points to Check
Renting a Property is sometimes painful for landlords. Finding a good tenant is tough. An owner trusts the real estate agents and brokers to find a good tenant. I hardly found direct renting between landlord and the tenant. The only exception is both are known to each other. Some landlords are skeptical in renting a property to people from specific professions as a lawyer, police, etc. A landlord has their concerns in this regard. Another common complaint is that tenant is not vacating the premises. It is especially true for commercial properties. Though these units are on long-term lease ... Read More
Hiring a Real Estate Agent – 5 Points to Check
A Real Estate Agent is an integral part of any property transaction, be it buying, selling or renting. In fact in cities like Mumbai, a property transaction cannot be completed without Real Estate Agent. One of the reason is the lack of trust factor between the buyer and the seller. Rarely i found a case in which property transaction is closed directly by the buyer and a seller or rented. Hiring a Real Estate Agent has its own advantages and disadvantages. In my personal opinion, it is advisable to route a transaction be it sale/purchase or renting through Real Estate Agent. I do agree that ... Read More