Goa is one of the most popular holiday destination among both national and international travellers. Real estate investment in Goa is ideal due to its reasonable cost of living. You do not end up over spending and you have goods and services in wide range of budgets. The villages around beaches are all developed catering to tourist, hence shopping for amenities has also never been a reason to worry.Another reason to invest in a vacation home is that you can rent it out not in use and can add up to your income. These properties have higher value and rentals are higher. This additional income will be a good source of revenue and also the property will remain in use.
Buying a vacation home in Goa is one of the few investments that offers both personal and financial rewards. It will allow you to diversify your income and you can take a vacation at no extra cost.
Reasons why vacation home in Goa is a must.
It can serve as a retirement home.
Having a retirement home in Goa can be an idea. Instead of having to deal with the hassle of buying a new home when you retire, you’ll already have one that you love, totally set up and waiting for you. You will also be able to take advantage of the market’s prices years in advance.
Buying a vacation home will diversify your investments.
Adding a vacation property to your list of investments is a great way to boost your cash flow. Many investment markets are fickle, real estate being one of them. By spreading your investments around, you can take advantage of selling the right things at the right times. And it’s never going to be difficult to sell an extraordinary home in a Goa for an amazing profit!
You can rent it out
Renting your vacation home to others is a great way to earn. Renting your vacation home in Goa is much easier as it is in high demand as Goa is a perfect tourist destination. And because you own this property, how you rent it is entirely up to you. You can offer it up seasonally or year-round if you prefer.
Flexibility and privacy
When you have a vacation home of your own you have flexibility of staying there for as many days as you like with the privacy that one cannot find in a hotel.
Go ahead and get your hands on that vacation home in Goa with Citihomes Realty Goa. Check out the properties listed on www.citihomesgoa.com and villas listed on www.hotgoavillas.com
Goa real estate includes houses, apartments, and luxury villas in the North and South Goa There is growing interest for real estate properties in Goa, with Indians from all over the country, NRIs (Non-Resident Indians), PIOs (People of Indian Origin), and even foreigners planning to invest in Goan properties.Goa has a great deal of potential in properties. When it comes to investing, North Goa is more of an investment market while South Goa is slightly more affordable. If you are looking to buy a property as an investment than North Goa is the Ideal choice as it offers better rental and resale value. North Goa is popular with tourists and is better developed, it offers better returns when the property is sold or rented out.
TYPES OF PROPERTIES AVAILABLE IN GOA
Luxury villas- Owning a beautiful and luxurious home will always be a source of prestige and pride. After all, your home is a reflection of you. Buying a villa In Goa is always beneficial. You will get your own private pool in some of them terrace, manicured lawns and immense space, experience luxury living right at home. The resale value of a villa is much better. The land alone will add to the value and when you add the house, you can actually make much more than you had invested.
Portuguese properties- Houses from the Portuguese era excite buyers from around the country, these mansions or bungalows or villas from the Portuguese era are unique to the state and make a very important aspect on the culture of Goa. Owning a home with a historical past will always be a source of pride. The resale value of a Portuguese house is much better with buyers waiting to grab the opportunity of owning Portuguese properties in Goa.
Premium Apartments- Premium apartments offers many more advantages. Premium apartments are one of the best investments you can make and get higher rental and resale value. It is characterized by its spaciousness and opulent levels of comfort.
Sea view Apartments- Investing in a Sea view / River view / Field View apartments is one of the best investment strategies for investors. The view from the apartment is something that not all people get to experience. The spectacular view surely brings a soulful rhythm to people’s mind and body. The resale value of a sea view apartment compared to other apartments is always better.
Plots/Lands- When you invest in a plot you get to choose as to how you want to build your house. You are your own designer and architect as you can infuse your personality into your home. The value of a plot is likely to increase faster and also within a short span of time. A plot will not decay ever. A building not constructed properly may decay and depreciate in value, but the value of the plot will only appreciate.
Budget Apartments- As per the limited investment, the buyer should consider to buy budget homes/apartment near to Cities belt and upcoming areas where they can cash in more resale value and enjoy the house to live in.
Citihomes Realty Goa helps clients to invest in the best properties, villas or plots in Goa according to their clients’ needs and preferences. Citihomes Team provide you end to end solution for your needs before sales and post sales i.e terms of documentation work, registration, helping in setting up the things in short time to live in. They have the maximum property database in Goa for comparison. More than 1000 properties are listed for sale/purchase on their web portals www.citihomesgoa.com and villas listed on www.hotgoavillas.com . They also provide expertise assistance while making any kind of property investment.
Goa is a province in India located on the Western coast of the country. The former Portuguese colony is proving a warm favourite for both tourists and real estate investors. Goa has been rated as one of India’s best states to live in. The state has a lower population density, peaceful social and political climate, low crime-rate and good infrastructure.
Some of the interesting areas to invest in North Goa are Panaji, Dona Paula, Kadamba Plateau, Porvorim, Nerul, Candolim, Calangute, Anjuna, Vagator, Assagao and Morjim, Moira, Aldona etc. In South Goa, one can invest in Margao, Colva, Varca, Palolem etc.. A near to beachside property anywhere is globally renowned to command premium rates due to its prime location as it involves a lot of commercial activities.
While investing in any property one must do a through research. Some investors/buyers may want to buy a property to use as a holiday home, others may choose to live in the home. Investing in real estate can be a great way to create wealth, but there are some golden rules to consider before diving into property investment.
1) Buy in a growth area
Buying for Holiday Homes then the buyer should prefer near coastal belt to have a feel of being close to nature and slightly far away from major development and at the same time few minutes driving distance from the beach. Even home can be run a holiday homes and earn higher rental income and higher resale value. Buying in Cities and nearby then the buyer should consider the easy access to the school, hospitals, transport etc to live in. Resale value of the home will be higher. North Goa is an ideal place to buy investment properties.
2) Know your budget
Before investing in property it’s vital to have a through understanding of your cash flow. Also, ask your bank for a pre-approval of your investment loan, so you know how much you’re able to borrow before you start hunting for properties in Goa.
3) Focus on Your Return on Investment
Invest in an area that will get a high return on investment. To obtain the highest return on investment (ROI), you will need to know the area and what houses are selling for in the neighbourhood.
4) Understand the Goan real-estate market
Consider what other properties are available in the immediate area and speak to your real estate agent. They’ll let you know if one side of a street is considered superior to the other. Make sure you do the leg work and consult professionals you can trust. It is also a good idea to find out what changes may be happening in your city.
5) Pick the right type of mortgage to suit you
There are many options when it comes to financing your investment property, so get sound advice in this area as it can make a big difference to your financial well-being.
6) Check the age and condition of the property and facilities
Even with negative gearing, needing to replace the roof or hot water service in the first few months of ownership could make significant difference to your profits. It is therefore advisable to engage a professional building inspector before you purchase to conduct a thorough inspection of the property to find any potential problems.
7) Take a long-term view and manage your risks
Properties are a long-term investment and you should not rely on property prices rising straight away. The longer you can afford to commit to a property the better and as you build up equity then you can consider purchasing a second investment property.
8) Find a good realtor and let them to do their job
A licenced real estate agent that is professional in its field, and its job will keep things in order for you. They can help you with ongoing advice and help you manage your tenants and get you the best possible value from your property, a good agent will let you know when you should review rents and when you shouldn’t.
Citihomes Realty is a RERA registered real estate company in Goa with over 1200 properties listed for sale/purchase on their web portals www.citihomesgoa.com helping you find the right property to buy, sell, rent and invest in.