Hi Guys,
Unlike many bright people in this forum, i missed the bus in 2004 - 2007 when i invested in a wrong property and lost lot of my money. But now when i analyse the situation i see the market rate is exorbitant. I do believe that for a large chunk of us middle class people the amount needed for buying a property today is very high. Having burnt my fingers once i am quite reluctant to get into another property that doesnot hold a brand value and anything with brand value has a much higher price tag. Is entering the property market wise at this time. Lot of people are telling to wait and watch and some say if you are buying as an end user it doesnot matter, but one thing i am trying to understand is the value of living in a property. Living in general in terms of quality of construction, quality of living in the community and surrounding area (no villages etc nearby, that can hinder safe travelling in the night), decent schools/hospitals nearby. While i look at these terms i feel Gurgaon etc is certainly not good for end users but excellent for investors who want to make a quick buck (though we cannot say that now i think).
As pertaining to the title of my post, for a normal middle class person property is a big investment and at todays prices it might be single investment for many. Looking at the unstability in the market (even for jobs, IT sector is not that booming any more, if you are very experienced and loose your job getting another job is not that easy nowadays), do you think it would be wise to invest in property now. Or to wait for 3 years or so , save money and keep on looking for the best deal to crack (say distress sale kind of). One thing is very surprising though people are ready to purchase a property of one crore but very few seem to be interested in any alternate source of investment, say for e.g equity etc. Equity is risky but so is real estate now, unless you buy something from a very reputed builder (even then you might not know, e.g parsavnath was a big name once and look at their stalled projects)
I have been reading this forum for some time now and some of hte posts are extremely interested and written by some very bright people .Would really appreciate your comments.
Unlike many bright people in this forum, i missed the bus in 2004 - 2007 when i invested in a wrong property and lost lot of my money. But now when i analyse the situation i see the market rate is exorbitant. I do believe that for a large chunk of us middle class people the amount needed for buying a property today is very high. Having burnt my fingers once i am quite reluctant to get into another property that doesnot hold a brand value and anything with brand value has a much higher price tag. Is entering the property market wise at this time. Lot of people are telling to wait and watch and some say if you are buying as an end user it doesnot matter, but one thing i am trying to understand is the value of living in a property. Living in general in terms of quality of construction, quality of living in the community and surrounding area (no villages etc nearby, that can hinder safe travelling in the night), decent schools/hospitals nearby. While i look at these terms i feel Gurgaon etc is certainly not good for end users but excellent for investors who want to make a quick buck (though we cannot say that now i think).
As pertaining to the title of my post, for a normal middle class person property is a big investment and at todays prices it might be single investment for many. Looking at the unstability in the market (even for jobs, IT sector is not that booming any more, if you are very experienced and loose your job getting another job is not that easy nowadays), do you think it would be wise to invest in property now. Or to wait for 3 years or so , save money and keep on looking for the best deal to crack (say distress sale kind of). One thing is very surprising though people are ready to purchase a property of one crore but very few seem to be interested in any alternate source of investment, say for e.g equity etc. Equity is risky but so is real estate now, unless you buy something from a very reputed builder (even then you might not know, e.g parsavnath was a big name once and look at their stalled projects)
I have been reading this forum for some time now and some of hte posts are extremely interested and written by some very bright people .Would really appreciate your comments.