Things single women should keep in mind before investing in real estate
Women these days don’t only consider housing as their financial security but also something to invest in. The millennial woman is very progressive and financially independent. In the early days, women used to prefer investing in gold and silver but, the 21st-century woman thinks that investing in real estate is profitable.
Due to this, many women homebuyers have increased. But, venturing alone to buy a house can be quite risky, especially for a single woman.
Opting for a reputed builder
It is essential to do thorough research on the builder. If necessary, feel free to visit his sites and talk to people there. Check all his paperwork and read about him online. By doing this, you will get a clear idea of his work. Don’t forget to cross-check if his project is RERA registered.
Location
Accessibility and the safety of the area depend on the location of the home. Make sure that the locality has chances of being developed as this will increase the value of your house. Ideally, the area should be connected to hospitals, schools, offices, markets, and other social infrastructures.
Benefit of stamp duty
Banks and the government, both offer tons of benefits to a woman homebuyer. A house has to be registered under the name of a woman in order to avail of the government’s flagship scheme- Pradhan Mantri Awas Yojana (PMAY). Although the charges vary from state to state, the stamp duty charges are quite low if a house is registered under the name of a woman. For example, Karnataka, MP, Maharashtra and Rajasthan offer relaxation in stamp duty charges for women.
Home loan benefits
Tax deductions and low home loan interest are a few benefits entitled to women while they buy a property. A lot of banks for example, ICICI and SBI have reduced bps points for Women homebuyers and have pretty simple eligibility criteria for women borrowers. Women should consider this while making a purchase as this indicates increased savings and affordability.
Investing in a gated community
Several amenities and security are the main reasons why it is extremely safe to invest in a gated community. Access to various perks like the gym, swimming pool, and other lifestyle amenities are an add-on. This saves a lot of your time and makes you feel safe.
UC projects or ready-to-move-in house
Under construction houses are a lot cheaper than ready-to-move-in houses. However, if you buy ready apartments, the delay in possessions is ruled out. Under construction projects attract GST and additional costs. Hence, it is advisable to buy ready homes.
A lot of schemes have been activated to boost the participation of women in real estate. So, if you are a single woman homebuyer, it is advisable that you go for it and invest in realty.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
