Steps of making your real estate dream come true

The price of real estate is increasing day by day. You have to bear the expenses but you have to plan many other things so that your dream of owning a real estate can come true really early.

Invest on Stocks, Bonds and High yielding Fixed Deposits

Stocks, Bonds and High yielding Fixed Deposits can make your real estate dream come true. You can invest in low priced stocks and make it double, quadruple or increase it even further within years. Your smart financial decision can make your future unexpectedly better and help you buy a real estate much earlier than you have expected.

Regarding high yielding fixed deposits, A class banks of Nepal have recently done a mutual agreement where they are not giving more than 12 percent of interest in a one year long fixed deposit. The average yearly inflation rate of Nepal is 7%. So, you are at least gaining 5% per year even in fixed deposit.

Decrease the ratio of your Income and Expenditure

Most people in Nepal will borrow some amount from the banks for making their real estate dream come true. On the other hand, banks think that you can pay your loan safely only when your EMI amount is less than half of your saving. So, you should start decreasing your expenditure so that more money remains in your bank account and there are a lot of transactions too.

Getting Updates about Real Estate market

You must get the news about the Real Estate market. For example, if you are going to construct a home, you must know the district rate of your district for various items of your BOQ of your building estimate. Similarly, the government of Nepal, Department of Land Revenue fixes the government rate for the land near your area. You should also know about the rate of land in the vicinity of the place you are buying a land in so that you can predict the rate of land that you are going to buy in the future.

Finding out which Property is the best for you

Different real estate companies have land on sale in their website. You can visit their website, participate in Real estate fairs to know about the land sellers and construction companies. You can find out reviews from your friends, family and social media so that you will find the best construction company when you will start your construction in the future. You can also select the property and if you find a good financial scheme, you might as well decide to buy it.

Increase your Income sources

If you depend on a single income, there are chances that you will go bankrupt when your particular sector experiences a global downfall. In such cases, you will feel the need of having secondary income sources. Stocks and bonds will increase, but you should find a sector from your hobbies or passion which can give a considerable income over time.

Plan the area of your choice for Clarity

The choice of the area depends on your lifestyle. For example, if you want a hi-fi lifestyle, you would desire a home in an housing. If you want a good community of people who are your previous acquaintances, you might want to buy a land together with them or around their vicinity. The area chosen will determine the money which you would require to make your real estate home come true.