Property – Should I Sell or Rent ? Evaluate

Property – Should I Sell or Rent? Evaluate Your Options

Umpteen Property owners, due to a variety of reasons, decide to move into a new home. One question that could be flashing unfailingly: Should I sell or rent out my house? It’s a big question to evaluate.

No doubt that you will open up a fresh stream of Income for you but you could as well be slipping into a landlord role – strong responsibilities and headaches!

Property

But can you afford to own two homes?

Your existing home, current property, may still have running home loan installments. Additionally, your new home would need fresh financing. Obviously, you would have checked your eligibility for the same. Do the math on the return of Investment of a rental.

Calculate if the rental income covers the installments for the new home. Check the rent section at Magicbricks.com for current rentals in your area. Or contact the Real Estate Agent in your locality.

Please note that you will also have to incur costs for the rental property like maintenance, repairs and if you opt, Property Management. There may be times when the rented house sits empty between tenants. If your rent income does not cover your required monthly outgo, you may end up taking a monthly loss.

Please also check with your tax consultants for benefits related to home loan interest, property tax, operating expenses, depreciation, and repairs.Also, consider the “opportunity cost. “ Evaluate whether you would potentially make more investing that money elsewhere, such as stock market or other retirement vehicles.

Intangibles

You will be becoming a landlord, Congratulations! but be careful. Are you in a position to take additional responsibilities? Will you be able to tolerate the stress that comes with being responsible for the home you are living in, as well as a rental, particularly if it’s long-distance?

 

Navi Mumbai Real Estate – The Dawn of Opportunities

Navi Mumbai Real Estate

Navi Mumbai Real Estate is Simmering

The upcoming International Airport is making the Property scene heat up. Are you ready for the Opportunity that Navi Mumbai Real Estate offers?  The infrastructure problems like poor connectivity with Mumbai is also taken care  with  Metro Rail, Trans harbor Link and restarting of the erstwhile hovercraft facility. Authorities are expected to operationalize projects phase wise in 2017

The Navi Mumbai International Airport will be constructed in southern Panvel area near Ulwe. It will be built through Public Private Partnership (PPP), with private sector partners having 74% equity and the Airports Authority of India (AAI) and Government of Maharashtra (through CIDCO) each holding 13%.

The International Civil Aviation Organization (ICAO) has already given techno-feasibility clearance to the airport. The central government provided cabinet approval for the construction on 31 May 2007. While an opening date of 2020 has been mooted, as of May 2017, construction has yet to start.

The Navi Mumbai Metro is an under construction rapid transit system in Navi Mumbai. A network of as many as six lines have been planned of which four lines will be constructed by CIDCO in the Navi Mumbai south region, the second and third line of the metro system will be constructed by NMMC and MMRDA respectively.

The first line of the metro system is being constructed by CIDCO. This line includes three phases. In the first phase, the line will join the CBD Belapur station on the Mumbai suburban railway and Pendhar village.

In the second phase, the line will join Taloja MIDC and Khandeshwar node (which will be extended to the Navi Mumbai International Airport. And in the third phase, the line will link the Pendhar and Taloja MIDC metro stations.

The first phase of the line 1 is slated to become operational by 2017 and CIDCO has claimed to make the network of its four lines fully operational by 2019-2020 along with operationalization of the city’s International Airport.

Navi Mumbai Real Estate Valuation

Result – Value of Properties will be on the upswing. Rents from Flats / Apartments will surely appreciate. Please, Invest for the short and medium term.

Royal Real Estate – Your RE Manager 

Source – Wikipedia