Are you looking forward to starting a better standard of living? It is probably known to all that buying a new home with modern features opens the path towards a lifestyle of our dreams. We tend to choose a house constructed by a reputed builder in a better location that will meet the modern-day conveniences. Hence, when it comes to the advent of a new form of living, buying a new home is the first step that most of us tends to take.
However, is this the only thing that you can expect from a residential property? Why don’t you start investing in residential properties and enjoy the benefits of the same?
With buying an apartment, you get assured ownership over the new home. However, investing in residential property generates passive income. Whether you invest in a residential flat in Kolkata or anywhere else, choose a property that will potentially guarantee you a high rate of return.
You need to check the growth quotient of the region where you are planning to invest in a residential property. If the region is lacking any sign of growth or promise, this will become a financial burden in the long run. On the contrary, a good investment, such as investing in residential flats in Kolkata in various regions (like Madhyamgram, Serampore, Tollygunge, Rajarhat, EM Bypass, etc.) will generate revenue for mortgage payments, cost of taxes, repairs, etc. through renters. It might become an essential channel for building wealth if you chalk out the perfect plan regarding the same. your planning goes well.
Here’s what you need to know about buying and investing in a residential property.
Buying & Investing: Understanding the Concept
Residential properties comprise of a defined land area consisting of flats or a stand-alone home constructed for individuals or families for dwelling. These are not to be used for commercial or industrial purposes. These spaces are essentially reserved for occupational purposes and involve residential use for a long duration of time.
On the other hand, an investment property can be a long-term or short-term investment. If we consider the short-term duration, the concept of ‘flipping’ a house comes in the picture. In this case, the property is bought and remodelled or renovated and is sold for a higher price.
One can also generate revenue by possessing the property and renting it to others, or selling the property at a time when the value has appreciated. For instance, if you buy a home in Kolkata close to the airport, good schools and colleges, the price of the property will be automatically high.