Before you dive into real estate investing, it’s important to know what you’re in for. If you don’t ask the right questions and do your research, you could end up making a costly mistake.
Here are seven questions that every investor should ask before they invest in investment plots:
1. Are There Any Restrictions On The Property?
If there are restrictions on the property such as zoning laws or building codes, find out if they can be changed or lifted so that your new home will be legal. It’s better to know these things upfront than find out later down the road when it’s too late to do anything about them!
2. What’s the capital growth potential?
The second most important question to ask before investing in investment plots is about the capital growth potential of the plot. This will help you decide if you’re going to make any money on your investment or not.
3. What’s the cost per square foot of each plot?
Cost per square foot is an essential piece of information that all investors should know about before purchasing any property because it gives them an idea of how much they’ll be paying for each square foot of land that they buy. It also helps them figure out how much money they’ll be making from each plot once they sell them off later on down the line when prices go up again after a few years.
4. What is the current occupancy rate?
The first question to ask before investing in investment plots in Lucknow is how long a plot has been vacant. If it’s less than a year, you may want to consider buying it as you will probably be able to get a good deal on it. However, if it’s been more than a year, you should be careful before jumping in and investing in that particular piece of land.
5. Is there any infrastructure planned for this area?
The third thing that you should always ask when considering whether or not to buy property abroad is if there are any plans for infrastructure development in the near future. If there are no plans for infrastructure development within the next five years or so, then don’t buy anything since there will be no return on investment (ROI). When investing always consider to look for best place to buy plot in Lucknow for Investment.
6. How long has the developer been in business?
If the developer is relatively new, or if it has recently built a number of projects, it can be difficult to get a clear picture of what the company has done in the past and how it has performed over time. You should ask for at least three years’ worth of financial statements and other documents that will allow you to understand how much risk you’re taking on when buying an investment plot.
7. What is the developer’s track record?
A good developer will have built many successful projects in its areas of expertise. If it hasn’t, then it may still be able to find success but with more risk than you would like to take on as an investor. Look at the developer’s website and see if they have examples of their work that they can show you; this will give you an idea of how they operate and how well they’ve done in the past.