Options are always good. Except when they get too much and start to overwhelm us. This is often the case with real estate. Considering the scale of investment, it is especially important to do your research and ensure that you are getting the best of what your options have to offer in the market. Ultimately, what is a good residential property for you depends heavily on the purpose of your investment. There are many ways you can utilise the rental property as its owner. You could repurpose it as an Airbnb for tourists, or guest house for working professionals, or even go the traditional route and rent it out to a long-term tenant. Nevertheless, there are many common factors that can help you hunt down a good residential property. Furthermore, the allure of Goa is undeniable. With its serene beaches, rich history, and vibrant culture, it’s no surprise that many are considering real estate investment in this paradise. But when it comes to identifying an ideal residential property, what should you be on the lookout for? Let’s explore the core components that make a residential real estate piece truly stand out.
1. Is it in a prime location?
Location is paramount. A property nestled close to essential amenities, transport links, and recreational areas is a gem. In Goa, the ideal location isn’t just about being close to the beach, it’s about how your location is connected to markets, schools, hospitals, and the local communities.
2. Is it a trusted builder?
With numerous Goan property developers in the fray, it’s crucial for you to partner with those with a proven track record. A trusted builder not only ensures quality construction but also adherence to timelines, transparent transactions, and better post-sale services. Attention to detail along with a trusted legacy to show are yet other aspects of a good builder.
3. What is the property tax?
Property tax can significantly influence the cost of ownership. Being aware of the tax rates, especially in different parts of the country, can provide you with clarity on long-term expenses. Good residential projects often offer insights or guidance on these financial aspects.
4. Expected returns?
Any real estate investment should ideally appreciate over time. With many tourists visiting during the holidays and people deciding to move and call Goa their home, the state promises a lucrative return on residential properties. However, it’s essential for you to gauge factors like the neighbourhood’s growth potential and future infrastructural developments.
5. New or old property?
While new properties offer modern designs and amenities, older ones can come with their own charm and often a slightly lower price tag. In Goa, you might find historic homes that echo its colonial past, but new residential projects by prominent Goan property developers offer a blend of contemporary luxury with traditional Goan aesthetics.
6. Infrastructure and amenities?
Subpar infrastructure can in turn hinder the value of your property. From 24/7 water supply to power backup, security, and recreational facilities, the amenities that a potential home offers can greatly enhance living quality. Additionally, infrastructure developments like roads, public transport facilities, and internet connectivity in the region play a pivotal role.
7. Environmental concerns?
With growing awareness about sustainability, understanding a property’s environmental impact is crucial. Are there enough green spaces? Does the property incorporate sustainable technologies or practices? For instance, installing water-saving fixtures and rainwater harvesting systems in the building is a great way to prevent unnecessary wastage of water. Waste segregation, recycling programs and energy-efficient technologies are some other sustainable technologies and practices to look out for. In Goa, many developers are shifting towards eco-friendly residential projects, considering the state’s rich biodiversity.
8. Growth prospects?
A region’s growth prospects can propel the value of a real estate investment. In Goa, areas that are currently under development or are pegged for future infrastructural projects are likely to see an appreciation in property values. This makes them hotspots for potential investors.
Identifying the right residential property in Goa requires a careful assessment of various factors, as highlighted above. Given that Goa is growing in such dynamic ways, the potential for profitable real estate investment is vast. But, as with all investments, due diligence is key.
When you consider investing, it’s not just about finding a house. It’s about finding a home, a community, and an investment that grows. This is where choosing the right Goan property developers becomes crucial.
Ready to find your dream home in Goa?
At Vaastu, we pride ourselves on crafting exquisite residential projects that resonate with Goa’s ethos while offering all modern amenities and comforts. Dive deep into our curated selection and let us help you find not just a property, but a place to truly call home.
