It’s often said that Challenging times are times also for Opportunity.
Real estate is a lot more than Location now. It’s all now about Money, the more liquid money you have the sweeter the deal you can get today.
One should not benchmark today’s pricing or the real estate market as a beaten down market keeping the current situation based on the pandemic, on the contrary one must look at the opportunities arisen out of it.
The biggest opportunity I see is clean up time, it’s time to sit back and re allocate your portfolio of properties and see which ones you need to Sell, lease or Buy.
Buying a property for personal use without home loan is something I propagate a lot today as if you have say 2 or 3 flats. Sell the ones you don’t need and the buildings are old and need constant maintenance and have the lowest returns.
Even if you keep the money in the bank or a debt fund it will give you 5% returns and you will liquid as well.
Consolidating your real estate portfolio is the way to go forward which will give you peace of mind. Example if you have a 1 bhk old flat in Kandivali Or Dahisar or Bandra or Juhu or South Mumbai and if you staying in a 2 bhk which is small anywhere it’s a good idea to sell both and upgrade your life and give your family the much desired lifestyle. Current time if you are able to sell even at a lesser price you will get a good deal for the next property you buy.
When property rates align up for one location or a building it’s a cascading impact on North and South.
Be careful in what you are buying or selling. If you have any property which is next to which means 3 to 5 min walk from an upcoming Metro Station then so factor the premium of the same.
It’s time to consolidate your real estate portfolio, buy, sell or lease and take advantage of the time you have in hand.