A lot of consumers get attracted to the real estate market due to the quantum of investments involved in it. Modi Builders, a leading construction firm of Hyderabad, understands the amount of research required on market statistics, mortgage rates, neighborhood information, etc., while buying a house.
The internet provides enormous information that the potential consumers look out for. No matter how deep the research is, there are always certain things that one might not know to make a wise decision for real estate.
Real Estate sector is intricate yet intriguing. It involves a number of details that are to be dealt with while buying or selling a house. Despite the complications and in-depth research that it requires, investments in the sector remain substantial.
The Indian Real estate sector is the second largest employer and contributes 5-6 per cent of the country’s Gross Domestic Product (GDP).
Experts at Modi Builders are well-aware about the sector and its requirements. They have listed some interesting real estate facts that most of us don’t know. Take a look:
1. Own a home and build wealth:
Owning a house is considered a big asset in India. People entering the real estate market as house owners gradually build wealth. Statistics show that at an average net worth of homeowner is 40 times more than that of the renters.
2. Taxes saved as property owned:
Giving a chunk of income in taxes can be irksome for many. However, real estate gives an opportunity to reduce the burden via certain tax deductions. In India, these include – deductions on home loan interest, on principal repayment as well as on stamp duty and registration charges. First-time homeowners in India can claim tax deductions of up to Rs 1 lakh, under the Section 80EE.
3. Expert advice for better decisions:
Entering the complex real estate market is not an easy task. Making the right decisions while buying or selling a house is crucial. Experts at Modi Builders consider teaming up with an agent a better option for grabbing the right home or for selling your home to the right person. Statistics show that around 50 per cent people are satisfied with the information provided by agents.
4. Home staging a key to sell:
Home staging plays a major role in drawing the interest of the buyers. It makes a big difference in the buyer’s ability to see the potential of a house. Experts say that a well-staged house increases the value that buyers willingly pay. Staged homes make it easier for buyers to visualize their lifestyle in them. Most often, buyers overlook the faults, if the best features of a house are highlighted.
5. Go Online:
In India, one of the most preferred medium for buying or selling a house is Internet. Considered the second-largest online market across the world, the country accounts for over 462 million internet users. Out of these, around 20 million people surf the internet every month for buying a house. Statistics show that nearly 53 per cent of the total real estate transactions are influenced by the internet, in India.
The Hyderabad-based realtors, Modi Builders are recognized for their luxurious properties available at affordable prices. With years of experience, they deeply understand the Indian real estate sector and its dynamics.