Things to Consider When Buying a Property to Earn Rental Income
Having a second source of income is always beneficial for individuals. There are many ways to earn a passive income like through investments, rental income, and others. The most traditional way is earning rent through property investments. Many MumbaiKars or Mumbai wale are investing in the projects of real estate developers in Navi Mumbai to have non-stop flow of side income. However, before buying a property to earn rental income, there are a few things to consider: 1.The 1% rule: When buying an investment property, the buyer should at least get 1% of the property’s value as a return. Before deciding on a projects in Navi Mumbai , the buyer should check the existing rental income of the area and the likelihood of its increase in the near future. This evaluation will be helpful for buyers who rely on home loans to purchase the investment property. 2.Location: Location is an important deciding factor when purchasing a rental property. A property in a strategic location o...